Large Ohio hospital systems spent millions on marketing last year

With more people becoming insured under the Patient Protection and Affordable Care Act, hospitals have more patients to appeal to.

Three Columbus-based hospital systems— OSU, Ohio Health and Mount Carmel— spent millions on marketing last year, according to a WOSU Public Media report.

Together, Ohio Health and OSU shelled out more than $20 million on marketing last year, while Mount Carmel spent $5 million, according to the report. Additionally, Ohio Health spent $2.3 million on advertising and OSU spent $4.6 million, according to the report. Mount Carmel did not provide WOSU Public Media with its advertising numbers.

When it comes to hospital advertising, Boston University healthcare marketing professor Roberta Clarke told WOSU Public Media that the philosophy is, "If competitor A is spending $1 million, I better spend $1 million."

On average, about 1 percent of a hospital's revenue goes toward advertising, said Jason Brown, CEO of Brown Parker and Demarinis Advertising in Delray Beach, Fla., in the report.

More articles on healthcare finance:

CFO Craig Polkow: Sharing his expertise in finance and operations at Saint Thomas Health

CFO Scott Walker: Healthcare finance guru, cyclist and family man

Fitch assigns 'AA-' rating to Munson Healthcare's bonds Fitch assigns 'AA-' rating to Munson Healthcare's bonds

 

Copyright © 2024 Becker's Healthcare. All Rights Reserved. Privacy Policy. Cookie Policy. Linking and Reprinting Policy.

 

Featured Whitepapers

Featured Webinars

>