For years, purchased cups of coffee all across America were on the weak side. You could see right through the beverage, like dirty water. Then Starbucks hit the scene and their wickedly strong coffee is a big hit. People are suddenly willing to pay $4.25 for a fancy drink. In 1987 Starbuck’s revenue was $1.3 million. Today it is around $73.5 million and is the largest coffeehouse company in the world. McDonalds, Dunkin Doughnuts and 7-11 had to scramble to regain a piece of the caffeinated pie. Their coffee is noticeably stronger than it was pre-Starbucks days. Is Starbucks a value?
Value is a measure of benefit. It is something that is precious and worth having which is often an individual judgment call based on one’s circumstances. You can buy a pair of sneakers at a discount store for $14.99 and find that they need replaced every three months. Or you can choose a more expensive brand name that may last two years.
Healthcare value can also be defined as something precious and worth having. At Inova, value is providing patients with a memorable and unique experience based on each individual’s circumstances. This sets us apart and adds to our value equation. Our value is also found in our goal of keeping people healthy and practicing preventative medicine, rather than only treating the ill. Our value is in our accessibility. Our HealthPlex’s, Urgent Care Centers and the Inova Medical Group practices can be found in a wide variety of locations with even more planned for the future. And last but not least, we value our reputation because it is our reputation that makes us a value.
This is why a gentleman from Front Royal, Virginia is willing to travel to Inova Mount Vernon Hospital for hip surgery. This is why a patient who has had prostate surgery at Inova Alexandria Hospital tells three friends who also become patients. Each Inova colleague that touched these two patients created an experience that added value. They made such a difference in these two lives that the patients are glad to share their experience with their friends and our community. This is why we empower and trust our colleagues to take action to find the best solutions to provide the best care because they know best.
So why do Starbuck’s loyal customers return again and again? Consistency. The barista’s get the order right the first time. Variety. Tasty. Value. They provide a product that is precious and worth having. What do you think is Inova’s most valuable asset? Perhaps we can meet at Starbuck’s over a venti caramel macchiato to discuss!