Assessment of the Factors Influencing Profitability of the Company - Dissertation Example

The survey involved the use of instruments such as online questionnaires and semistructured interview questions. Online questionnaires were prepared with the help of SurveyMonkey and sent to the 40 participants who were refractive care patients identified from clinical databases. The questionnaires were designed in line with the research objectives. Overall, questionnaires were chosen as they heightened the validity and reliability of the research through the collection of quantitative, objective data. Semi-structured interviews were chosen in order to gain context and detail. They were conducted under 8 sessions at the two private clinics that were used for the study. The results for both surveys were centrally analyzed in regards to the findings in the literature review. The findings for the online survey revealed that the participants strongly consider two key factors when making their choice to attend refractive clinics. These factors include management, where they showed strong consideration for private clinics. The other factor was technology superiority whereby they would first assess the clinics and later consider the one with better technology. For the interview sessions, the results indicated that the top five factors of importance were as follows. Technological Superiority, friendly and professional staff, trust in the service, organizational culture, and personal and individual service in the order of superiority starting with most important. To conclude the research reflects upon the importance of a consideration of organizational factors in order to enhance profitability. Moving away from a sole financial perspective, this research has promoted the importance of a patient-centric approach and the use of relationships to build perceptions and expectations of quality of care.

Vision quality varies widely among individuals, with a large segment of the population lacking adequate unaided sight for everyday functions such as driving, reading signs, or identifying hazards. Poor eyesight is mainly caused by problems in the shape of the cornea or length of the eye that result in a focal point in front (hyperopic eye) of or behind the retina (myopic eye). These problems lead to images that are out of focus. These common vision problems can often be solved by placing a lens in front of the eye that bends light rays into focus on the retina. Eyeglasses are the most common method of vision correction and date back to the Egyptians in the eighth century BC. However, modern techniques and systems to correct the vision significantly gained widespread acceptance starting 1990s with the advent of laser correction and then the intraocular lens (Wu, 1999). Refractive clinics are those clinics, which focus upon the correction of vision diseases, largely through the application of laser treatment and intraocular lens treatment. Refractive surgery is nowadays a mainstream consumer product delivered through large-scale business ventures.

Independent of technology, innovation, practitioners’ roles, or marketing approaches, economic market forces will select the business models that deliver the highest quality vision correction to the patients at the lowest cost. Participants, who can develop these business models today, will enjoy the greatest degree of success in the refractive surgery world of tomorrow (Pinto, 2011).

This research reflects upon the two main treatments in order to assess the advantages and disadvantages of each treatment from the perspective of both the business and the patient. This information is valuable as it introduces a discussion on which procedure is most profitable for a refractive clinic and the implications of adopting a different business model dependent upon the treatment.