Includes comprehensive analysis related to value proposition, value capture methodologies, strategic control, complementary assets and business model study for the organization.
Study and Reporting by Amrit Ravi & Team
HealthcareMagic is an online platform for patients to consult doctors without visiting a hospital. It was started in 2008 in Bangalore and now has over 250,000 daily users and 15,000 specialists. About 75% of customers use it for second medical opinions on severe ailments. Consultations are much cheaper than in-person visits. The platform connects patients, doctors, healthcare suppliers, and corporations. It generates revenue from consultation fees, subscriptions, and advertisements. While competitors offer similar services, HealthcareMagic was the first mover and has established itself as the market leader.
The COVID-19 pandemic has drastically changed the insurance industry landscape. It has presented new challenges for insurance companies including higher claims and losses, the need for new pandemic-related insurance products, and pressure on customer support from increased queries. Insurers must now focus on areas like claims operations, pricing and underwriting, customer support, loss estimation and reserving, sales and marketing, and legal issues. Analytics and AI solutions can help insurers address these challenges and opportunities.
Customer Centricity: Adapting to a Changing Global MarketHCL Technologies
Customers come in all shapes and sizes, from an individual to private institutions to a national government for Pharmaceuticals. Customer centric strategies differ per stakeholder and their requirements. Building a customer-centric model requires market prioritization, stakeholder partnership, and transparency to work in sync to create a trusted environment.
This document discusses an integrated value chain in the pharmaceutical industry. It covers various stages of the value chain enabled by e-technologies, including research and development, production, marketing, sales, and customer relationship management. Key points covered include e-recruitment, e-trials, e-submission, e-manufacturing, digital e-marketing strategies, and the role of technology in connecting patients and healthcare organizations.
HCL provides healthcare analytics and commercialization solutions to pharmaceutical companies to help them improve patient outcomes. Their multi-faceted approach includes traditional IT services as well as specialized healthcare solutions like insights from big data analytics, clinical operations, and digital marketing. HCL helps customers engage stakeholders effectively across the product commercialization lifecycle to increase sales and market access through data-driven insights.
The document discusses how customer experience in healthcare needs to meet the needs of patients, providers, and payors. It describes the healthcare journey for patients from both routine and emergency care perspectives. Key aspects of the provider delivery system that impact the customer experience are identified as task routing and workload distribution, resource management, facilities management, revenue cycle management, and compliance. The healthcare system aims to balance the needs of all stakeholders while optimizing patient health outcomes.
The document discusses health insurance claims auditing. It defines various types of losses in health insurance claims, including hard and soft leakage. It outlines a claims audit model involving defining the scope, sampling claims, reviewing the claims, generating a report, and creating recommendation plans. The document also discusses categorizing loss causes, presenting results in a dashboard, and newer concepts in claims auditing such as advanced sampling techniques, predictive analytics, and using artificial intelligence and natural language processing.
White Paper - Digital strategy and the shift to value based careTerence Maytin
Summary: The U.S. healthcare system is rapidly transitioning from fee-for-service to value- based care as part of massive and ongoing industry-wide transformation. Digital strategy is evolving to meet new challenges, help drive disruptive innovation, and better engage a large, growing audience of connected health consumers.
Health Innovation Frontiers - Untapped Market Opportunities for the 50+Sanjay Khurana
By 2018, the 50+ population is forecasted to spend almost $100 billion, out of pocket, on healthy living solutions. Rarely has such an untapped opportunity existed to generate revenues for entrepreneurs, investors and others in the private sector to generate revenues while meeting the greatest wants and needs of a substantial, influential and important population: people 50 and over. This report looks at investment potential and market dynamics across Nine Identified Areas of Health Innovation for the 50+.
Generic Pharma at Strategic Inflection Point - IHF - CEO Nicos RossidesMedochemie Ltd
Medochemie CEO Dr Nicos Rossides argued that generic pharma is at a strategic inflection point due to a combination of factors: on the one hand are industry forces such as price pressure, tough regulatory/legislative environment, shifting demographics and increasing patient empowerment. On the other hand, the digital revolution has far reaching implications on the way in which generic pharma companies create and deliver value.
How Pharma Can Fully Digitize Interactions with Healthcare ProfessionalsCognizant
This document discusses how pharmaceutical companies can fully digitize their interactions with healthcare professionals (HCPs). It notes that HCPs are increasingly using digital technologies and prefer engaging with pharmaceutical companies through digital channels. The document recommends that pharmaceutical companies build an end-to-end digital platform to facilitate various types of virtual interactions with HCPs, including web conferences, email marketing, e-detailing apps, social media management, and more. It emphasizes the importance of collecting and analyzing HCP interaction data across channels to develop a unified, customer-centric view of each HCP in order to better understand and serve their needs and preferences for digital engagement over time.
As pharmaceutical and biopharmaceutical manufacturers are receiving more attention, legal scrutiny and activity from government and other entities regarding various components of their patient support services programs, this survey analyzes responses from close to 30 small, mid-size, and large pharmaceutical organizations (9 of the Top 20 pharmaceutical companies) to provide insights as it relates to risk mitigation and emerging strategies for managing patient interactions in a compliant manner.
This document analyzes digital and traditional banking in India and provides a roadmap for ING Vysya bank's transition to digital banking. It finds that while customers are increasingly using digital channels for common tasks like funds transfers, many still prefer branches for deposits, loans, and financial advice. A survey of 111 customers found preferences for both digital and traditional banking depending on the specific service. The document recommends that ING adopt an omnichannel approach, customizing services to different customer segments while improving the digital experience through personalization and maintaining trusted personal advice through flagship branches.
The document outlines a marketing plan for a mobile application called Med-360 that allows users to find doctors, book appointments, order medications, and access other healthcare services in one place. The application aims to save users' time and money. Key points of the marketing plan include highlighting how the app is more convenient than traditional methods of accessing healthcare, a pricing strategy to attract both free and paid users, and collaboration with hospitals, pharmacies and other providers to offer services through the app. The plan also discusses competitors, opportunities in the growing healthcare industry, and an implementation schedule to introduce the app and monitor its performance.
A new foundation for designing winning brand strategies The Patient Journey r...Shishir Tiwary
This document summarizes a white paper on re-envisioning the patient journey framework for designing brand strategies. It outlines some common issues with traditional approaches to building and using patient journeys, such as relying only on physician input, not incorporating the patient perspective, and not comprehensively identifying opportunities. The document recommends using real-world evidence sources like claims data, EMR data, and patient registries to map the full patient journey from awareness to adherence. It argues this approach provides a more accurate, data-driven understanding of the market compared to primary research alone.
We all know that customer is the king. But which customer. Without right customer segmentation and differentiation this king customer may turn out to be an liability.
HealthcareMagic - Business Model AnalysisAmrit Ravi
The document discusses HealthcareMagic (HCM), an online platform that allows patients to consult doctors without visiting a hospital. It provides the following key details:
- HCM was started in 2008 in Bangalore and now has over 250,000 daily users and 15,000 specialists.
- About 75% of HCM customers use it for second opinions on severe ailments. Consultations through HCM are much cheaper than typical in-person rates in India.
- HCM's customers are typically tech-savvy professionals based in Bengaluru seeking affordable healthcare conveniently online. HCM aims to expand its network of specialists and available specialties.
Total rewards service providers slide_share_2014People Matters
With talent taking the centre-stage in CEO’s agenda, it is time that Indian organizations use every tool at their disposal to attract and retain talent as the expectations of employees are at an all-time high. An ideal Total Rewards plan is the perfect blend of tangible and intangible rewards. Traditional reward patterns will not work as the workforce in most organizations is multi-generational. ESOPs, integrated healthcare benefits, work-life balance, non-cash
rewards are some of the rewards that companies can use to engage the employees.
Medall Healthcare Pvt. Ltd is an Indian diagnostics company that has experienced rapid growth through acquisitions and expanding its service offerings. The company acquired two diagnostic centers in Chennai and Bengaluru in 2008. It has also expanded its operations in Andhra Pradesh and renewed contracts to manage radiology departments in hospitals. Medall offers a wide range of diagnostic and clinical services across multiple locations in South India and employs professionals in business development, sales, operations, and other roles to support its growth. The company is seeking candidates to help in areas like operations, marketing, business development and mergers and acquisitions to further boost its expansion plans.
The Healthcare Internet of Things: Rewards and Risksatlanticcouncil
In The Healthcare Internet of Things: Rewards and Risks, a collaboration between Intel Security and Atlantic Council's Cyber Statecraft Initiative at the Brent Scowcroft Center on International Security, the report's authors—Jason Healey, Neal Pollard, and Beau Woods—draw attention to the delicate balance between the promise of a new age of technology and society's ability to secure the technological and communications foundations of these innovative devices.
UniMart Pte Ltd. experienced losses in its first year of operations but saw steady growth and profitability in subsequent years. Net sales increased from $2.08 million in Year 1 to $5.78 million in Year 3. While the company had a gross loss in Year 1, it achieved gross margins of 8.9% in Year 2 and 22.4% in Year 3. The net present value of the investment was $29.78 million with an internal rate of return of 22%, above the cost of capital of 10%.
Exto Reward Points for Magento 2 (user guide)Exto.io
Magento 2 Reward Points extension helps to launch an effective customizable loyalty and rewards program, with full set of features included.
Features of the Magento customer rewards extension:
- flexibly configure rules,
- set reward points expiration,
- set limits for the amount of earned / redeemed Magento loyalty points, and more,
- refund in points,
- analyze results through the custom dashboards.
Learn more at https://exto.io/magento-2-extensions/reward-points-for-magento-2
Callthedoc,a mobile app, is a global search engine for all your healthcare needs. Starting from Doctors to hospitals, path labs , wellness centers to even covering the blood banks. We are also the first who are taking the search criteria to medical packages available in hospitals and thus first to start medical
This document discusses 6 key trends in healthcare: 1) Shift to value-based payment models, 2) Deinstitutionalization of care moving to lower-cost settings, 3) Increased focus on care management and wellness, 4) Growth of the Medicare Advantage market, 5) Adoption of data-driven decision making, and 6) Digital health transformation. It provides examples of how healthcare payors and providers are responding to these trends through strategies like bundled payments, telemedicine, predictive analytics, acquisitions, modern data platforms, and digital solutions to improve the patient and provider experience.
"Budget + Strategy: Tipping the Balance (Sheet) in Your Favor" WebinarBluespire Marketing
During this BlueSpire TrendLab webinar, our marketing experts analyze results from an exclusive BlueSpire poll on what marketers are experiencing with budgeting and strategic planning.
Among the many things discussed during the webinar were:
- How financial and healthcare marketers are approaching/handling strategic planning and budgeting.
- The importance of tracking, measuring and reporting, all key elements to consider when deciding how to target audiences and get budgets approved.
- Specific recommendations that can be implemented at any type of organization, including those in highly regulated industries.
At Indegene, with our digital-first approach, we bring agility and innovation to your launch strategy. We enable optimization of channels, content mix and foster continuous learning by adopting an agile operating model that supports cross-functional collaboration and enables launch teams to rapidly create campaigns to address shifting customer needs. With our AI-driven launch model, from strategy to execution, we help you achieve true ‘Launch Excellence’.
The Foundations of Success in Population Health ManagementHealth Catalyst
From hospital systems to large employers, organizations are increasingly taking on financial risk for the health of populations. Drivers of this trend include the update to the MSSP model, the recent CMS Primary Cares Initiative announcement, the increasing prevalence of the Medicare Advantage model, innovative partnerships in the self-insured employer space, and the proliferation of Medicaid ACOs. Yet while market pressures push organizations toward population risk, they don't necessarily help them succeed: most organizations are struggling to attain or sustain the dual imperatives of high-quality care and cost containment. A primary reason? Short-sighted and tactical approaches that don't provide the flexible data infrastructure and tools to adapt to emerging trends in population health—or to support short-term contractual requirements while building toward long-term success.
View this launch webinar to learn about Health Catalyst’s Population Health Foundations solution, a data and analytics-first starter set aimed at optimizing performance in value-based risk arrangements and providing the data ecosystem that will flex and adapt to complex needs of risk-bearing organizations. Solution services ensure that the strategic value of data is maximized to improve performance in risk contracts—and provide side-by-side subject matter expert partnership for establishing short- and long-term goals for population health management (PHM).
Built on Health Catalyst’s foundational technology and supported by the nationwide experience and perspective of its experts, the Population Health Foundations solution helps organizations leverage multiple data sources to understand their patient populations and create meaningful views of financial and clinical quality performance. As a starter set that organizations can build on based on their needs, the solution is designed to compensate for the known limitations of “black box” population health applications that fail to reveal the “why” of analytic insights and exacerbate the challenges of transforming quality, cost, and care. The Population Health Foundations solution delivers the essential analytic tools needed for success under value-based risk arrangements.
In these slides you can expect to:
- Review recent changes to the field of value-based care, and reactions and insights from the market
- Discover how the Population Health Foundations solution can act as a comprehensive, data-first analytics solution to support your population stratification and monitoring needs
- Understand how this solution functions as a foundational starter set for value-based care success, enabling clients to leverage all their data and other relevant population health tools
Pale Rhino Consulting is a business consulting and technology solutions company focused on enabling healthcare providers and payers to improve patient and customer experience and access. The document discusses how most providers currently do not have a comprehensive strategy for how people access and experience their healthcare, with many access points being unsatisfactory and the experiences of most stakeholders being unknown. It then outlines Pale Rhino's approach to helping providers develop an enterprise-wide patient access and experience strategy, with the goals of improving satisfaction, referrals, retention, and health outcomes while reducing costs. The strategy involves assessing current access points and experiences, defining personas and journeys, designing new strategies, and creating roadmaps for implementation.
1. Focus on delivering a strong customer experience through digital launches as digital channels are becoming more effective than field reps. Meeting customer expectations leads to increased revenue and decreased churn.
2. Digitize existing launch toolkits and adapt them to specialized launches with restricted access as the digital shift is imperative post-COVID. This provides a potential solution for impactful launches.
3. Build generic launch types to guide customized strategies considering factors like market maturity and size. Leverage cross-functional capabilities and insights to establish the best launch type.
An alternative practitioner marketplace analysis was conducted for Bridge Builders Collaborative by Michigan Ross MBA students. The alternative practitioner space generates over $18 billion annually but is highly fragmented. There is an opportunity to create a two-sided marketplace to connect consumers and practitioners. Current solutions do not fully address consumer education, tracking outcomes, or normalizing alternative medicine. Risks include increased regulation, external competition from hospitals, changes in healthcare policy or spending, and practitioner consolidation.
The document analyzes the alternative practitioner marketplace. It finds the $18 billion marketplace is fragmented with consumers lacking information on treatments and practitioners. A two-sided digital marketplace could address pain points by educating consumers, matching them to treatments, and providing practitioner management tools. Current players partially address needs but opportunities remain around consumer education, outcomes tracking, and normalizing alternative medicine. Risks include external competition, regulation changes, and shifts in healthcare policy.
HealthcareMagic - Business Model and Comparitive Analysis
Editor's Notes
#16: Immediate access to primary care physicians and a variety of specialists from home or work, securely, privately, and in real time
Convenience of receiving care on patient’s own terms, using the Web, live videoconferencing, or phone
Anonymity A big attraction of online health care is its anonymity. Many people put off going to the doctor for years because they are simply too embarrassed. Without having to talk to another human being face to face, these people can have their complaint diagnosed and have a treatment prescribed literally without another soul ever knowing about it.
Choice of providers based on patient-driven criteria – whether through an existing relationship, or selected according to characteristics such as specialty, language, gender, hospital affiliation or zip code
Quality care from credentialed physicians who can provide consultations, recommend treatment and write prescriptions online if necessary
Continuity of care with the ability to access physicians regardless of location and to share detailed care reports with primary care physicians or Nalari Health care coordinators
Cost: One of the more obvious advantages to using Internet doctors and health-care services is cost. It is a lot cheaper to access medical advice online than it is in person, from consultancy charges to transportation and parking costs, as well as time. Prescriptions can be cheaper and basic medical advice can be totally free. In many places where a visit to a doctor may cost significant sums this is very attractive, especially if the complaint is seemingly minor.
More coordinated care options via patient-centered medical homes, provider-to-provider communications, supportive biometric devices and real-time monitoring and alerts.
#17: Immediate access to primary care physicians and a variety of specialists from home or work, securely, privately, and in real time
Convenience of receiving care on patient’s own terms, using the Web, live videoconferencing, or phone
Anonymity A big attraction of online health care is its anonymity. Many people put off going to the doctor for years because they are simply too embarrassed. Without having to talk to another human being face to face, these people can have their complaint diagnosed and have a treatment prescribed literally without another soul ever knowing about it.
Choice of providers based on patient-driven criteria – whether through an existing relationship, or selected according to characteristics such as specialty, language, gender, hospital affiliation or zip code
Quality care from credentialed physicians who can provide consultations, recommend treatment and write prescriptions online if necessary
Continuity of care with the ability to access physicians regardless of location and to share detailed care reports with primary care physicians or Nalari Health care coordinators
Cost: One of the more obvious advantages to using Internet doctors and health-care services is cost. It is a lot cheaper to access medical advice online than it is in person, from consultancy charges to transportation and parking costs, as well as time. Prescriptions can be cheaper and basic medical advice can be totally free. In many places where a visit to a doctor may cost significant sums this is very attractive, especially if the complaint is seemingly minor.
More coordinated care options via patient-centered medical homes, provider-to-provider communications, supportive biometric devices and real-time monitoring and alerts.
#19: Most insurance policies do not cover online therapy.
Concerns about confidentiality, privacy and unreliable technology.
Therapists cannot respond to crisis situations.
Online therapy is not appropriate for those with serious psychiatric illnesses.
#20: E-therapy is not appropriate for people with complicated or detailed problems.
In most cases, online therapists cannot see facial expressions, vocal signals or body language.
Online therapy eliminates geographic restraints, making the enforcement of legal and ethical codes difficult.
Therapists can treat clients from anywhere in the world, and many states have different licensing requirements and treatment guidelines.
#25: 1st two items are dominant
Last 3 items are minimal
#29: Pharmaceutical Distribution Business
Pharmaceutical distributor business owners are the ones that purchase medicines from the big suppliers or manufacturers such as Emzor, Dana, GlaxoSmithKline, etc, then store them to warehouses and finally distributes them to many pharmaceutical stores or patent shops out there.
Home healthcare business:
A home health care business is a business that provides skilled nursing services, home health aides, and other home care service such as medical social services, andtherapies. Running a home healthcare business is probably on one the best businesses to engage in.
Non Emergency Medical Transportation Services: The non emergency medical transportation services is a unique kind of service that caters to individuals or patients who are physically disabled or sick; and cannot be able to meet up with the doctor’s appointment on their own .
Medical Supply Business : All types of medical professionals, from veterinarians to midwives and eye doctors, need specific supplies to do their jobs. Also, people with certain ailments or disabilities need medical supplies to live better lives. With the above in mind, let’s now discuss the steps involved in starting a medical supply business.
Medical Equipment Sales : set up either a physical or virtual store that sells medical equipment to consumers, or you become an independent sales consultant who represents various manufacturers of medical equipment for sale to hospitals and health centers.
Medical-Related App Business: create a medical app- whether for a mass market or a very targeted niche, like, say diabetics. Apps for smartphones and tablet computers are extremely popular these days, and if We can stumble upon a good idea, it could easily sell like hotcakes.
#30: Partner with medical equipment suppliers to facilitate trade between supplier & patients
Advertise the aforementioned suppliers on web/mobile applications
Can establish online medical consultations for corporates via customizable interfaces
Collaborate with Governments for health awareness campaigns which would improve outreach and PR
#33: Healthcare magic
Ask a Doctor from web, iPhone, iPad, Android devices and from your GTalk/AOL - any time, anywhere. Get instant medical advice from 15,000 doctors online
healthcaremagic.com was launched at September 21, 2007 and is 7 years and 204 days. I
Lybrate.com
Find a Doctor and book appointments online instantly! View verified doctors recommended by real patients. Search by locality. It's free!
lybrate.com was launched at December 28, 2012 and is 2 years and 104 days
Practo.com
Find Doctors in Bangalore, Mumbai, Delhi, Chennai, Pune, Kolkata and Hyderabad in India and Singapore. Book confirmed doctor appointments online for FREE. Practo
practo.com was launched at June 3, 2010 and is 4 years and 313 days.
www.doctorspring.com
Ask a Doctor Online Now 24X7 over 1400 queries answered per day with 97% positive feedback
doctorspring.com was launched at August 14, 2011 and is 3 years and 241 days.
#34: Healthcare magic
Ask a Doctor from web, iPhone, iPad, Android devices and from your GTalk/AOL - any time, anywhere. Get instant medical advice from 15,000 doctors online
healthcaremagic.com was launched at September 21, 2007 and is 7 years and 204 days. I
Lybrate.com
Find a Doctor and book appointments online instantly! View verified doctors recommended by real patients. Search by locality. It's free!
lybrate.com was launched at and is 2 years and 104 days
Practo.com
Find Doctors in Bangalore, Mumbai, Delhi, Chennai, Pune, Kolkata and Hyderabad in India and Singapore. Book confirmed doctor appointments online for FREE. Practo
practo.com was launched at June 3, 2010 and is 4 years and 313 days.
www.doctorspring.com
Ask a Doctor Online Now 24X7 over 1400 queries answered per day with 97% positive feedback
doctorspring.com was launched at August 14, 2011 and is 3 years and 241 days.
#35: Healthcare magic
Ask a Doctor from web, iPhone, iPad, Android devices and from your GTalk/AOL - any time, anywhere. Get instant medical advice from 15,000 doctors online
healthcaremagic.com was launched at September 21, 2007 and is 7 years and 204 days. I
Lybrate.com
Find a Doctor and book appointments online instantly! View verified doctors recommended by real patients. Search by locality. It's free!
lybrate.com was launched at December 28, 2012 and is 2 years and 104 days
Practo.com
Find Doctors in Bangalore, Mumbai, Delhi, Chennai, Pune, Kolkata and Hyderabad in India and Singapore. Book confirmed doctor appointments online for FREE. Practo
practo.com was launched at June 3, 2010 and is 4 years and 313 days.
www.doctorspring.com
Ask a Doctor Online Now 24X7 over 1400 queries answered per day with 97% positive feedback
doctorspring.com was launched at August 14, 2011 and is 3 years and 241 days.
#42: Build public relations: Win-Win for both patients and medical practitioners
Hybrid Sales + Marketing model: Retaining customers and at the same time providing customer experience
Social Media: Expand presence and outreach on social media platforms, increase web footprint
Leverage relationships: Between patient and doctor; introduce a merit based reward scheme for the doctors, free consultation credits for patients
Role of Network Effect: It will help achieve the penetration in the target market.