The York College Medical Center has launched a new Cosmetic and Reconstructive Services Department.

The York College Medical Center has launched a new Cosmetic and Reconstructive Services Department.  We are trying to compete with our fellow medical centers by tapping into the patients who might want or need these services.  Instead of going to NorthWell or Mt. Sinai, we want them to come to their neighborhood medical center.  We are local, speak their language, state of the industry, clean, kind, experts and all the other superlatives one looks for in healthcare.

We’ve done our homework (market analysis) and found the three most commonly researched procedures by our geographic area are; breast reduction, breast enhancement and butt enhancements.  Since breast reduction is a medically necessary surgery for many, and covered by insurance, we hope patients will pick us based on the above attributes. However, breast and butt enhancements are cosmetic and are a self-pay item.

NorthWell charges $5,000 for the procedures and Mt. Sinai charges $6000.  Based on the pricing strategies you learned in Chapter 10, which strategy would you choose and how much should we charge in order to get a market share of these procedures? Explain why you chose this strategy and price.

Please answer this question in a minimum of 3 full paragraphs.