Some Connecticut hospitals are significantly increasing advertising spending to capture more market share, according to a Hartford Business Journal report.
Connecticut's 30 acute-care hospitals spent nearly $30 million on advertising in fiscal year 2010 — 18 percent more than the previous year — a Hartford Business Journal analysis found.
Leading the pack was Hartford (Conn.) Hospital, shelling out $2.9 million in advertising in fiscal 2010, a 38 percent increase from the year before. Danbury (Conn.) Hospital had the largest advertising budget growth, increasing 147 percent to spend $2.1 million. John Dempsey Hospital in Farmington spent $1.8 million, a spike of 88 percent over the past year. St. Francis Hospital and Medical Center in Hartford also spent $1.8 million, but this represented an increase of only 16 percent compared to the previous year.
Many hospitals are increasing their investment in advertising in an attempt to differentiate themselves in a competitive environment in which patients are playing a more active role in their healthcare. Hospitals are marketing specific services and outpatient treatments as well as consolidations that have formed more comprehensive health systems. Much of Hartford Hospital's ad spending was dedicated to its rebranding strategy that incorporated a new, single logo. Danbury Hospital's spending was also focused on a new branding campaign.
This increase in ad spending was a shift from the roughly 10 percent decrease in Connecticut hospitals' ad spending from 2008 to 2009, which dropped from $26.3 million to $23 million, according to data from the state's Office of Health Care Access.
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Connecticut's 30 acute-care hospitals spent nearly $30 million on advertising in fiscal year 2010 — 18 percent more than the previous year — a Hartford Business Journal analysis found.
Leading the pack was Hartford (Conn.) Hospital, shelling out $2.9 million in advertising in fiscal 2010, a 38 percent increase from the year before. Danbury (Conn.) Hospital had the largest advertising budget growth, increasing 147 percent to spend $2.1 million. John Dempsey Hospital in Farmington spent $1.8 million, a spike of 88 percent over the past year. St. Francis Hospital and Medical Center in Hartford also spent $1.8 million, but this represented an increase of only 16 percent compared to the previous year.
Many hospitals are increasing their investment in advertising in an attempt to differentiate themselves in a competitive environment in which patients are playing a more active role in their healthcare. Hospitals are marketing specific services and outpatient treatments as well as consolidations that have formed more comprehensive health systems. Much of Hartford Hospital's ad spending was dedicated to its rebranding strategy that incorporated a new, single logo. Danbury Hospital's spending was also focused on a new branding campaign.
This increase in ad spending was a shift from the roughly 10 percent decrease in Connecticut hospitals' ad spending from 2008 to 2009, which dropped from $26.3 million to $23 million, according to data from the state's Office of Health Care Access.
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