round3 invincible iim indore

19
Name Email Phone Abhishek Garg p13abhishekgarg@iimidr. ac.in +91 7869911066 Mayur Mahajan [email protected] n +91 9584922111 Analitique Round 3 eam : Invincible (IIM Indore)

Upload: mayur251020088662

Post on 10-Nov-2015

31 views

Category:

Documents


6 download

DESCRIPTION

Analytics Competition, RocSearch, MBA, Bschool, Consulting

TRANSCRIPT

Slide 1

NameEmailPhoneAbhishek [email protected]+91 7869911066Mayur [email protected]+91 9584922111Suman [email protected]+91 8818905050

Analitique Round 3Team : Invincible (IIM Indore)

1Introduction- PopuloCarePopuloCare is a population health management solution based on research and analysis of data collected from different sources. The data can be collected from EHR (Electronic Health Records) present with the hospitals & medical practitioners, behavioral data from surveys, socio-economic data using social media analytics and genomic data. This data can be analyzed & insights can be derived that will help hospitals & medical practitioners, health insurance companies and the government in better addressing the health care needs of the community. Population Health Management focuses on Identifying and supporting sickest patientMinimizing or preventing progression of diseasesPromoting culture of wellnessPopuloCare AdvantageGood use of big dataBetter designing of policies, better treatment Huge cost savingsNo side impact on businesses of clientsCustomizable, ScalableProduct ConceptIntroductionOpportunity AssessmentProduct Design & Resources NeededData/Information NeededValue & DifferentiationMarketing StrategyFeasibility 2Opportunity Assessment for Global MarketThe biggest challenge in adopting a Population Health Management (PHM) product is existence of Electronic Health Record (EHR) systems. We ranked countries on the basis of E H R usage and found following ten countries as potential markets for the product

The countries ranked on the basis of health expenditure as a % of total GDP

Identifying Potential Markets Source: BloombergSource: World BankCare gap creates need for Population Health ManagementWith greater economic inequality comes worse health lower life expectancy and higher mortality rates. The U.S. spends the most money on health care, but falls behind the other rich nations in life expectancy. The gap in healthcare needs of patient and care intervention provided to them can be filled with PHM tools.

Source: Population Health Forum, WashingtonIntroductionOpportunity AssessmentProduct Design & Resources NeededData/Information NeededValue & DifferentiationMarketing StrategyFeasibility 3Opportunity Assessment for Global MarketSegmentation The potential market can be divided into following segments

1. Hospitals2. Physicians3. Insurance4. GovernmentSource: OECD Statistics Market Size Preference for launching the productCountry Health Expenditure per capita (in current US $)Physicians & Hospitals (total )Govt. Health Expenditure (in million US $ PPP)E H R Adoption Rate1US8,608815,2261,266,97869%2UK3,609174,758174,23197%3Germany4,875345,341279,62082%4France4,952218,229205,94467%IntroductionOpportunity AssessmentProduct Design & Resources NeededData/Information NeededValue & DifferentiationMarketing StrategyFeasibility 4Opportunity Assessment for Global MarketTargeting Source: secondary researchKey Success Factors: Expertise in health care and population health management Expertise in data analytics, data conversion and retrieval Good connect with hospitals, doctors and health Insurance companies

Differential Capabilities: RocSearch has been delivering their services in research and analytics to their clients via 1:1 model for last 14 years. RocSearchs strength in developing a population health management solution comes from the expertise in data analytics. To successfully develop and launch a product, RocSearch will need to team up with experts in Health Care and Population Management.

Competitors Remarks Products/Companies RocSearchVeriskhealthHealariumPHYTELZeOmegaExpertise in health care & PHM GoodGoodExcellentGoodNeed to developExpertise in data analytics ExcellentGoodFavorableExpertise in software development ExcellentExcellentGoodFavorableGood connect with hospitals, doctors & HICs GoodGoodNeed to developBase of operation & centers United Kingdom South Jordan Utah, Massachusetts, North Carolina, Virginia, Minnesota, NepalTexas, IsraelTexas Texas, BangaloreUK presents good opportunity with less competition IntroductionOpportunity AssessmentProduct Design & Resources NeededData/Information NeededValue & DifferentiationMarketing StrategyFeasibility 5Resources Needed to develop the Product PopuloCare for Government

IntroductionOpportunity AssessmentProduct Design & Resources NeededData/Information NeededValue & DifferentiationMarketing StrategyFeasibility 6Resources Needed to develop the Product

PopuloCare for Hospitals & PhysiciansIntroductionOpportunity AssessmentProduct Design & Resources NeededData/Information NeededValue & DifferentiationMarketing StrategyFeasibility 7Resources Needed to develop the Product

PopuloCare for Health Insurance CompaniesIntroductionOpportunity AssessmentProduct Design & Resources NeededData/Information NeededValue & DifferentiationMarketing StrategyFeasibility 8Product Look, Feel, Logo, DesignWe propose two products- PopuloCare Health2. PopuloCare LifeMeaning of the Logo- This blossoming flower is in the shape of an inclusive circle, giving the impression that population can also blossom stronger and healthier. Blue colour signifies the sky, Green Symbolizes the water.Graphs show that analytics will help us in bringing together already existing data and finding out better pattern in health careMeaning of the Logo-People are shown as holding their hands in circle which symbolizes that our product will hold the life and well-being of each and every personGraphs show that analytics will help us in bringing together already existing data and finding out better pattern in health care.

We suggest Selective Specialization by targeting specialized products for different market segments. SegmentProductHospitalsHealth InsuranceGovernmentPopuloCare HealthPopuloCare LifeIntroductionOpportunity AssessmentProduct Design & Resources NeededData/Information NeededValue & DifferentiationMarketing StrategyFeasibility 9Data/ Information required to Power the ProductIntroductionOpportunity AssessmentProduct Design & Resources NeededData/Information NeededValue & DifferentiationMarketing StrategyFeasibility 10Value Proposition of the ProductValue Proposition of PopuloCare Our value proposition is straightforward. We are bringing together the best of medical intelligence and the big data to provide better health care to the entire population. The technology helps in better diagnosis, treatment, proactive healthcare and better policies design apart from cost savings to clients.

USP of PopuloCareIntegration of Medical Intelligence with Big DataContinuous updating of benchmark data related to various healthcare practicesProvision for Mass Customization to cater to different need of customersNo need to change current system, zero set-up timeThis kind of product doesnt exist and can prove to be a boon in healthcare industryDr RichaSawai Man Singh Hospital, Jaipur IntroductionOpportunity AssessmentProduct Design & Resources NeededData/Information NeededValue & DifferentiationMarketing StrategyFeasibility 11Differentiating FactorsDifferentiating factors of the productParameters\ProductPopuloCare(RocSearch)McKessonHealariumPHYTELZeOmegaCloud-based SaaSSocial Media Analytics Medical IntelligencePatient OutreachWorks with existing system (without EHR)Builds electronic patients registriesSupport on mobile devicesData Conversion using OCRWorks with partial data Zero Installation & Setup costsPredictive Modelling Major Points of DifferentiationCloud-based SaaS (Software as a Service)Works with existing system and partial dataBuilds electronic registries of patients dataSocial Media AnalyticsZero installation and setup costs Predictive ModelingWe identified certain parameters which are important to evaluate a population health management product and compared different products available in the market based on these parameters-IntroductionOpportunity AssessmentProduct Design & Resources NeededData/Information NeededValue & DifferentiationMarketing StrategyFeasibility 12Marketing Strategy Our Product PopuloCare is defined for 3 categories of clients-Hospitals and Medical PractitionersHealth Insurance CompaniesGovernmentBased on our opportunity assessment, we identify certain global markets where the product can be launchedMarketing strategy for those markets should be designed as follows-

IntroductionOpportunity AssessmentProduct Design & Resources NeededData/Information NeededValue & DifferentiationMarketing StrategyFeasibility 13Marketing Strategy- STP Based on these segmentation variables, Divide the customer base into different customer segments Identify key customer segments Devise the marketing strategies for each category.For example, based on the company size, the hospitals can be classified as small-sized, medium sized and large sized hospitalsSegmentation variables for clients (Hospitals, Insurance, Government) 1 Demographics Company size Hospitals- Revenues, No of patients , type Insurance Companies- Operating capital, No of customers Location Clients at locations where their patient outreach is high 2 Operating Variable Technology Customers technology focus? Hospitals using advance data analytics, EHR3 Procurements Approaches Purchasing function organization Highly centralized or decentralized purchasing by the client?Power structure Technologically dominated, financially dominated client etc? Nature of exiting relationship Strong relationship with client or most desirable client? General purchasing policies Client preferring leasing, service contract, system purchasing? Sealed bidding? Purchasing criteria Serve clients that seek quality? Service? Price ? 4 Personal characteristics Buyer seller similarities Serve companies whose people and values are similar to us? Favorable or non-favorable to vendor? Attitude toward risk Serve risk taking or risk avoiding client ?IntroductionOpportunity AssessmentProduct Design & Resources NeededData/Information NeededValue & DifferentiationMarketing StrategyFeasibility 14Marketing Strategy- Media MixPersonal SellingAs the product uses sophisticated technology, we suggest designing dedicated sales force for selling of the product to different clients categories. Decide on own Sales Force Vs OutsourcingEvaluate Cost and EffectivenessDesigning sales force

Design effective selling strategyIdentifying decision makers, influencers and gate keepers of clientsPrint Ads in Medical Magazines, Journals Print ads can be used for targeting specialized segments Need to analyze Exposure, Frequency, Reach, Impact of print ads Ex. LancetWebsite Detailed Product Information, Customer Service SupportSales PromotionFree software demonstration should be offered to clients. Trial software can be either of limited functionality or limited time-periodsEvents & Experiences Sponsor sport events or local health events organized by NHS

IntroductionOpportunity AssessmentProduct Design & Resources NeededData/Information NeededValue & DifferentiationMarketing StrategyFeasibility 15Marketing Strategy- Cost AnalysisTotal Cost Price of the digital product will depend on-Product development costMarketing costProduct installation and after sales service cost

Selling Price of the product can be decided on the basis of-Cost savings to clientTotal sales increase to clientMargins to be kept

Budget Allocation for Marketing Strategy- Using Objective-and-Task MethodIntroductionOpportunity AssessmentProduct Design & Resources NeededData/Information NeededValue & DifferentiationMarketing StrategyFeasibility 16Based on our assessment, RocSearch should launch the product in UK because it is headquartered there and has less competition in the segment apart from high EHR adoption rate, high public health expenditure in UK. After successful market penetration in UK, the company should target other countries like USA, Germany & France in the same order.Marketing Strategy- Phases of launchIn UK, the product should be sold to existing clients of RocSearch. The next step will be to tie up with NHS and implement the system in NHS. Affiliation with NHS will provide necessary reputation and credibility to the brand. Then we should focus on Health Insurance companies and independent physicians.

Initiatives by UK government for PHM-A transatlantic collaboration between UK and USA to stimulate progress in population health management has been announced in Sept 2013. Leeds and Partners has been given the responsibility for attracting investment along with key local health and social care services providers, including physicians and hospitals in Leeds.The collaboration proposes to make EHR data available to NHS via health information exchanges. The program will help healthy people across the country stay well, while aiding people who suffer from chronic conditions better manage their care and ultimately lead more productive, healthier and happier livesTim Kelsey, National Director for Patients and Information at NHS EnglandSource- healthcare-informatics, October 26, 2013by Mark HaglandIntroductionOpportunity AssessmentProduct Design & Resources NeededData/Information NeededValue & DifferentiationMarketing StrategyFeasibility 17Feasibility of the ProductFeasibility of the Product

Top 3 challenges in implementing population health management and how we plan to tackle these challenges-

1) Increased administrative burdenStarting with clients who have EHR systems in placeElectronics registry builder to automate the process of creating electronic medical record if they are not presentData conversion tools will help in converting scanned written data into electronic data (a possibility)The software will start operating immediately without waiting for complete data. It is capable of working with partial data. Results will improve as more data becomes available

2) CostWe aim to drastically reduce healthcare costs through top quality analyticsThe product will be offered in cloud based Software As A Service (SaaS) form to encourage pay as you use modelZero installation costs for cloud based solution

3) TimeZero Setup time for cloud based solutionEasy to use, no separate training needed

IntroductionOpportunity AssessmentProduct Design & Resources NeededData/Information NeededValue & DifferentiationMarketing StrategyFeasibility 18Thank You!19