4_11 Assignment Example | Topics and Well Written Essays - 750 words

4_11 - Assignment Example In realization of these, players in various sectors have to keep pace with the rising competition to give their consumers the best experience so as to remain relevant; otherwise, they face the danger of being faced out. The healthcare sector is one of the sectors where competition is common and helpful. The beneficiaries of competition in healthcare are the patient whose needs are met to the best of their expectations. This paper examines how various organizations in the healthcare sector are coping with competition. It will look into measures taken by these organizations so as to remain more competitive, and also on how they seek to offer the best experience to their customers. A research by The Heritage Foundation on Competitive Markets in Healthcare ‘The Next Revolution’ shows that competition in healthcare offers patients greater quality, more options, and lower costs. The research, conducted in the US, discusses several ways that the US government has over time tried to make its healthcare more competitive. One of the ways its federal and state lawmakers came up with was to instill competition, and make the industry operate like a traditional market. The study establishes that previous measures to make its healthcare more competitive had not yielded the expected results of financial gain. It takes the example of 2012, when the Director of the Congressional Budget Office (CBO), Douglas Elmendorf, turned down the proposal of a competition-based Medicare Premium Support Proposal. His explanation to the House Budget Committee (HBC) was that, based on the evidence of previous measures to enhance competition, there was no quantitative proof of i ts benefits. However, this study differs with Elmendorf’s assertion by explaining various instances where competition in healthcare has proven gainful. One of the fields where the research found competition to be beneficial is the utilization of care. The research depicts a perfect example of the