Part 8: Developing New Services
One of the important ways we evaluate ideas for new products or services is through a market and SWOT analysis, something you did last term in your portfolio assignment. Someone suggests something they think would be a great new product or service and then we go out and evaluate it.
In my last executive position the med-surg nurse manager suggested a unit comprised of all private rooms, with custom menus and chef-prepared food, better furniture, cable TV and movies, etc. She wanted to call it the Garden Suites. No one thought it would ever fly as our hospital had a huge percentage of charity cases, Medicaid, etc. However, an analysis was done and we built the unit which remained almost 100% full all the time! People will pay out of pocket (if they have the resources) for more nursing care, a nicer environment, better food, etc. I was amazed!
Does anyone have a story about a similarly surprising venture?