Strategic Communication and Profitability of Selected Healthcare Services in Kogi State, Nigeria

Abstract

Profitability the ability of an organisation to generate financial returns or profits from its business activities, while considering the equitable distribution of value among stakeholders. It is typically measured by indicators such as net income, return on investment (ROI), gross margin, and profit margins, with an emphasis on long-term sustainability and stakeholder well-being. Despite several studies on strategic communication and profitability, the effect of strategic communication on organisational profitability is yet to be worked as many Nigerian hospitals, there is a lack of effective communication between healthcare providers. This can result in fragmented care and a lack of coordination, which can lead to lower quality care and reduced profitability. Thus, this study aims to analyse how strategic communication might improve the bottom lines of certain hospitals in Kogi State, Nigeria. The study used a crosssectional survey research strategy. The study used a survey research methodology, recruiting 162 upper-level managers from six different Kogi State, Nigeria hospitals. In order to employ the whole population as a sample, the complete enumeration technique was used. The questionnaire's internal consistency was examined for its reliability before it was utilised in the research. Cronbach's alpha and composite reliability were used to calculate each variable's dependability, and values of 0.7 and above were considered minimal. Inferential and descriptive statistics were used in the analysis procedure, with both performed in SPSS version 27. According to the results, health care institutions in Kogi State, Nigeria that used strategic communication substantially increased revenue (β = 0.488, t = 5.580, p > 0.05). This research shows that some health care institutions in Kogi State, Nigeria may increase their profits via the use of strategic communication.

Keywords: strategic communication, Profitability, Organisational Performance, Top management.