Pest analysis health insurance industry

The section also has some Environmental Health duties such as swimming pool inspection, assisting with drinking water safety, assisting communities with nuisance complaints, etc. The section is composed of 20 field staff, two supervisors, one program manager, one assistant program manager, and one support staff position. CHS conducts food safety education and inspectional activities in all areas of the state not covered by local departments of health.

Pest analysis health insurance industry

Pest analysis health insurance industry

However, there will always be factors outside of your control affecting how your business operates. One method for discovering and quantifying those factors is the PEST analysis. PEST is an acronym for political, economic, social and technological. It was created by Harvard professor Francis Aguilar in It should be included in every business plan, in addition to a SWOT analysisas it is part of risk management and strategy design.

P — Political Environment According to Donna Lubrano, senior advisor at Northeastern Universitythe political environment is an analysis of what politics is doing to the business world. We look at tariffs, trade deals as they are developed not only by the economics or business side but what political relationships influence those decisions," Lubrano said.

Issues that must be considered include tax guidelines, copyright and property law enforcement, political stability, trade regulations, social and environmental policy, employment laws and safety regulations.

Consumer Health Services

Companies should also consider their local and federal power structure, and discuss how anticipated shifts in power could affect their business. For this analysis, look at interest rates, exchange inflation, unemployment, gross domestic product, credit availability and rise and fall of the middle class.

Among the items that should be examined are demographics, population growth rates, age distribution, attitudes toward work and job market trends. The drive to eat healthier, the drive to care for the environment, baby boomers staying in the workforce longer, adults have fewer children later in life.

All of these impact how consumers buy houses, cars, etc. T — Technology Technology plays a huge part in business, and it can impact it either negatively or positively.

PEST analysis stands for "Political, Economic, Social, and Technological analysis" and describes a framework of macro-environmental. factors used in the environmental scanning component of 1/5(1). The Health Insurance industry is an integral part of the Australian health system, providing insurance coverage for an estimated % of the population. ThinkAdvisor's Life and Health insurance articles provide leading coverage and expert analysis of the industry with a focus on life insurance, health insurance, annuities, and building your.

Specific items that need to be scrutinized include, but are not limited to, government spending on technological research, the life cycle of current technology, the role of the internet and how any changes to it may play out, and the impact of potential information technology changes.

For the legal factor, a company should examine how legal changes and interpretations could impact a company, directly or indirectly, according to Daniel Feiman, managing director at Build It Backwards.

Meet Our Friendly Staff | Brooks, Todd & McNeil Insurance

He advised including changes in laws, global law conflicts and Supreme Court decisions in this portion of the analysis.

For the environmental portion of the analysis, Feiman said to look at environmental evolutions and regulations to determine how they could impact a business. Look closely at ecological regulations and restrictions as well as endangered species.

Feiman also suggested that each of factors, including the original PEST factors, should be measured against the following grid: The more significant benefits include: A greater understanding of your company More effective long-term strategic planning Heightened attention to potential threats and dangers Insight for valuable business opportunities Limitations Solarju, a digital marketer at Housingman Indianoted a few disadvantages as well.

As the data collect[ed] is huge, one needs to carefully utilize it in a better way, and as it is from external sources, one is not sure about the accuracy. Additional reporting by Katherine Arline. Having worked in the food industry, print and online journalism, and marketing, she is now a freelance contributor for Business News Daily.

You May Also Like.Global insurance trends analysis An industry braving uncertain times Life insurance industry: led by emerging markets, growth rate in is Page 6 Global insurance trends analysis Note: 1) Health insurance is classified under life in some markets and non-life in others.

Industry research tools for B2B marketing & sales teams.

Pest analysis health insurance industry

Browse industry insights for prospecting opportunities & informing sales calls. Search over 1, industries to find industry reports & market share analysis. Get free market research reports today, . Business Plan, Financial Projections, and Market Research As a leading financial analysis and business plan development company, Butler Consultants prides itself on providing customers with customized documents that are thorough, well-researched, and expertly written.

Our team has consulted on thousands of business plans and tailors each one to your particular business, industry, location, .

Realising full potential Insurance industry analysis Analysis of major South African insurers’ results Realising full potential – Insurance industry analysis Health Insurance and a National Savings Fund. This will be coupled with.

A PESTEL analysis or PESTLE analysis (formerly known as PEST analysis) is a framework or tool used to analyse and monitor the macro-environmental factors that may have a profound impact on an organisation’s performance.

Fungus, insect, nematode, rodent, weed, or other form of terrestrial or aquatic life form that is injurious to human or farm animal health, or interferes with economic activities such as agriculture and logging.

Oregon Health Authority : Oregon Health Authority : State of Oregon