Emergency Medicine plays a vital role in the health care continuum across the world. Michael Porters' five forces model of industry analysis provides an insight into the economics of emergency care by showing how the forces of supplier power, buyer power, threat of substitution, barriers to entry, and internal rivalry affect Emergency Mediane. lustrating these relationships provides a view into the complexities of the emergency care industry and offers opportunities for Emergency Departments, groups of physicians and the individual emergency physician to maximize the relationship with other market players. Briefly explain Porter's five force model taking into consideration the above content/abstract. (n 300 Words)
The economic role of the emergency department in the health care continuum: Applying Michael Porter's five forces model to emergency medicine.
Emergency Medicine plays a vital role in the health care continuum across the world. Michael Porters' five forces model of industry analysis provides an insight into the economics of emergency care by showing how the forces of supplier power, buyer power, threat of substitution, barriers to entry, and internal rivalry affect Emergency Mediane. lustrating these relationships provides a view into the complexities of the emergency care industry and offers opportunities for Emergency Departments, groups of physicians and the individual emergency physician to maximize the relationship with other market players.
Briefly explain Porter's five force model taking into consideration the above content/abstract. (n 300 Words)
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