Perceived Value

It's important to understand that customer satisfaction and customer value or patient value are both fundamental concepts when it comes to marketing but although they are highly interrelated, they also operate independently.

So, what is perceived value? In marketing, perceived value is the customers' evaluation of the merits of a product or service, and its ability to meet their needs and expectations, especially in comparison with its competitors. We must attempt to influence and increase our patient’s perceived value of our services and products, and we can do this in part by providing 5-star, patient first care. Essentially, the consumer will see value when the benefits they expect to receive exceed the expected costs and effort involved in acquiring the services and/or product.

It is important that we continue to:

• Build value in patient care
• Communicate value in patient care
• Deliver great value when it comes to patient care
• Ensure that expectations of value are aligned with what the patients are actually receiving