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April , 2015
Objective About HCM Customers
Value
Proposition
Scope of
Activities
Value
Capture
Competitor
Strategic
Control
Objective About HCM Customers
Value
Proposition
Scope of
Activities
Value
Capture
Competitor
Strategic
Control
•HealthcareMagic is an online platform for patients and
attendants to consult doctors, i.e. specialists and super
specialists, and get an answer then and there without visiting the
hospital or a clinic.
•It was started in 2008, in Bangalore, the IT Hub of India, and was
first of its kind back then.
•Today HealthcareMagic has more than 250,000 user footfall
everyday on its website and more than 15,000 specialists are
associated with the organization
Objective About HCM Customers
Value
Proposition
Scope of
Activities
Value
Capture
Competitor
Strategic
Control
https://www.youtube.com/watch?v=NwSTNo2GeVQ
HealthcareMagic - Business Model and Comparitive Analysis
About 75% customers are on HCM for second opinions, where they have already
consulted a physician or specialist earlier. Second Opinions, in cases where
ailments or diseases are of severe nature, are quite common. Patients do not want
to rely on one prognosis as they outcome may not be favorable. Hence to be sure,
they use HCM’s specialists who are with an impressive track record, to eliminate
any doubts they may have.
Even though hospitals are at an approachable distance, customers now prefer
using e-health services as its convenient and cost effective
One normal consultation in India, on an average costs 500 INR. With HCM you can
consult for 5 times in 350 INR. That is just 14% of the normal fees a patient pays for
one consultancy, in a normal clinic. Lavish ones are 1200 INR and above
Reports and details can be uploaded online in less than a minute. The entire
process is designed in the simplest ways to enhance ease of access.
Rates vary across geographies as per the paying capacity
Objective About HCM Customers
Value
Proposition
Scope of
Activities
Value
Capture
Competitor
Strategic
Control
• Geographic
– Location: Bengaluru
– Population: Tech savvy, Professionals
– Less awareness about medical facilities
– Current geographies: International (predominantly US) &
other states in India
• Demographic
– Age group : 22 & above, retired people, professionals
– Target audience: Doctors, pathology labs, hospitals
– Gender: % of women is less as there is a concern about
security and comfort level with sharing medical/healthcare
issue online. They prefer primarily women doctors
Objective About HCM Customers
Value
Proposition
Scope of
Activities
Value
Capture
Competitor
Strategic
Control
Psychographics
• Will target audience that are generally open to technology
and new ideas
Behaviour
• Needs and wants of the patients
• Usage rate and corresponding service levels
• User status: Determines traffic on website
Objective About HCM Customers
Value
Proposition
Scope of
Activities
Value
Capture
Competitor
Strategic
Control
Objective About HCM Customers
Value
Proposition
Scope of
Activities
Value
Capture
Competitor
Strategic
Control
Based on the type of ailments
Objective About HCM Customers
Value
Proposition
Scope of
Activities
Value
Capture
Competitor
Strategic
Control
Technology
• Higher number of specialists belong to the age group of 28-38
(approximately 65-70%) that are tech savvy
• Increasing ease of technological diffusion in our lives
• Increasing number of aged specialists becoming a part of HCM Network
Geographies
• Higher ratio of Asian Specialists connected with its network since HCM
started its operations from India
• Higher influx of doctors from USA, Europe and Africa since 2011
Specialties
• Diverse pool of specialists delivering quality services 24X7
• General Physicians constitute about 45% of the total doctors
• 12% are super specialists (cardio, neuro, nephro)
Objective About HCM Customers
Value
Proposition
Scope of
Activities
Value
Capture
Competitor
Strategic
Control
HealthcareMagic - Business Model and Comparitive Analysis
Patients
Physicians
Health Care
Suppliers
Corporate
Enterprises
• 24 x 7 consulting
• E-Medical records
• Worldwide
connectivity
• Medical Insurance
• Convenience
• E-Medical records
• Advertising and sale
of relevant products
• Increased patient referrals
• Worldwide connectivity
• Easy outreach and
appointments
• Accreditation
• Discounted large scale
insurance
• Customized user interface
Health Care
Magic
Objective About HCM Customers
Value
Proposition
Scope of
Activities
Value
Capture
Competitor
Strategic
Control
Objective About HCM Customers
Value
Proposition
Scope of
Activities
Value
Capture
Competitor
Strategic
Control
Objective About HCM Customers
Value
Proposition
Scope of
Activities
Value
Capture
Competitor
Strategic
Control
For Patients:
• Question marks over coverage when using
online therapies
• Concerns regarding confidentiality, privacy
and storage especially with the rising
demand of eRecords
• Cannot be helped in crisis situations
Objective About HCM Customers
Value
Proposition
Scope of
Activities
Value
Capture
Competitor
Strategic
Control
For Physicians:
• eTherapy is not appropriate for people with
complicated illnesses
• Therapists cannot see facial expressions,
vocal signals and retrieve
body metrics
• Doubts over legal/ethical codes
Objective About HCM Customers
Value
Proposition
Scope of
Activities
Value
Capture
Competitor
Strategic
Control
• Rebalance of the public and private sectors in
the financing and delivery of care
• Precision based industry has shown growth
• E-records : 38% in 2008 to 78% in 2013
• Seamless care - Digital tools
• Disruption Vs. Enhancement
Objective About HCM Customers
Value
Proposition
Scope of
Activities
Value
Capture
Competitor
Strategic
Control
HealthcareMagic - Business Model and Comparitive Analysis
Objective About HCM Customers
Value
Proposition
Scope of
Activities
Value
Capture
Competitor
Strategic
Control
HealthcareMagic - Business Model and Comparitive Analysis
Objective About HCM Customers
Value
Proposition
Scope of
Activities
Value
Capture
Competitor
Strategic
Control
Patients
Advertisement Services
Health Care Magic
Physicians
Registration
Subscription
Fees
Consultatio
n Fees
data
credits
Consultatio
n via HCM
Health Care
SuppliersPortal Services
Corporate
Healthcare
schemes
Registration
Consultatio
n via HCM
Objective About HCM Customers
Value
Proposition
Scope of
Activities
Value
Capture
Competitor
Strategic
Control
Customers Currently registered
Current annual Revenue (in
$US)
Patients 3,000,000 $3,000,000
Average consultation % paid to
doctors from the premium
amount
-$1,500,000
Physicians 10,000 $100,000
Corporates 50 $50,000
Advertisements 100 $1,000
Total Value $1,651,000
Conversion Rate 5.0%
Average Premium per customer $20 Yearly
Average Registration per Physicians $10
Average Premiums per corporate $1,000
Advertisements $10 P.A
Average consultation % paid to doctors from
the premium amount
50.0% Consultation fee
Approximately
Objective About HCM Customers
Value
Proposition
Scope of
Activities
Value
Capture
Competitor
Strategic
Control
0
2
4
6
8
10
12
Revenue Rise (In Millions USD) 2010 to 2014
Objective About HCM Customers
Value
Proposition
Scope of
Activities
Value
Capture
Competitor
Strategic
Control
Pharmaceutical Distribution Business
Home healthcare business
Non emergency medical transportation services
Medical supply business
Medical equipment sales
Medical related app
Objective About HCM Customers
Value
Proposition
Scope of
Activities
Value
Capture
Competitor
Strategic
Control
Partner with medical
equipment suppliers
Advertise over web/mobile
apps
Consultations for corporates
via customized UI
Health awareness campaigns
for outreach/PR
Objective About HCM Customers
Value
Proposition
Scope of
Activities
Value
Capture
Competitor
Strategic
Control
HealthcareMagic - Business Model and Comparitive Analysis
Source: Company Websites & Blogs
Online Traffic Number of specialists
Objective About HCM Customers
Value
Proposition
Scope of
Activities
Value
Capture
Competitor
Strategic
Control
Consumer Base
eVaidya
Practo
SCIO HA
MedStar Health
HealthCare Magic
3 MM4.5 MM
1.5 MM
250K/D 120K/D
80K/D
35K
15K
8K
Sep 21,
2007
#18,139
June 3,
2010
#8,889
Aug 14,
2011
#237,934
Dec 28,
2012
#160,873
Launch
Date
Popular
Website
Ranking
s
Objective About HCM Customers
Value
Proposition
Scope of
Activities
Value
Capture
Competitor
Strategic
Control
Source :http://www.statshow.com/ accessed 11-Apr-2015 5.27pm
1736610
195780
3543720
132420
789360
88980
1610760
60180
0
500000
1000000
1500000
2000000
2500000
3000000
3500000
4000000
HealthCare Magic Lybrate Practo DoctorSpring
Viewership / Visitor Comparison Chart
Monthly Pageviews Monthly Visitors
Scope of activities
Manage billing to customers
Supports a variety of medical advisory
Public Forum for medical advisory
"live" interaction with doctors online
Managing appointment booking through
smartphone app or online portal for patients
Manage appointments, medical records,
accounting billings for the doctors
Android mobile support
share medical records with other doctors easily
Find doctors near their location
Free service - digitally store and manage their
records on smartphone
Fee-based consultation for patients
On-click emergency support system
search tool for nearby ambulance services
Objective About HCM Customers
Value
Proposition
Scope of
Activities
Value
Capture
Competitor
Strategic
Control
Free
Service offered Recognized as core competency
Objective About HCM Customers
Value
Proposition
Scope of
Activities
Value
Capture
Competitor
Strategic
Control
First mover advantage
•Established and recognized with a market leader
•Focus on medical advisory with “Online interaction” with doctors
•Wide variety of medical field
•Ease of use
•Tiered-based fee consultation
Similar business model to HCM
•Follower with fewer features offered
Different business model from HCM
•Focus on customer relationship software for doctors and clinics
•Manages search for doctors, booking and appointment scheduling
Late mover advantage
•Offered all the services from HCM and Practo combined – For Free
•Additional innovative features such
•one-click emergency support service
•search tool for nearby ambulance services
User Base
Uniqueness
Beginner’s Advantage
Collaborations
Cost of Operation
High Scope of Activity
Ease of Access
Pricing
Refund Policy (100%)
Low Entry Barriers
Diverse Legal Constraints
No Serious Ailments
Dependency on Internet
Technical Barriers
Availability Barriers
Difficulty in Claims
Go Multidimensional
Rate Practitioners
Better Incentives
Targeted Collaborations
Education Sector
Government Regulations
Litigations
Risk of Casualty If Delayed
Limits while Prescribing
Easy To Copy Concept
Objective About HCM Customers
Value
Proposition
Scope of
Activities
Value
Capture
Competitor
Strategic
Control
HealthcareMagic - Business Model and Comparitive Analysis
Patients DoctorsHealthCare Magic
More patients attracts more Doctors
More doctors attract more patients
Advantage of being the first company to establish foothold and the largest player in the
domain
Objective About HCM Customers
Value
Proposition
Scope of
Activities
Value
Capture
Competitor
Strategic
Control
• Acquired by EBIX – Provides an avenue for e2e
solutions
• Allows building of an eco-system around
HealthCare Magic
EBIX
HealthRisk
Assessme
nt
Smart
Care
HCM
SmartEnga
ge
Smart
Sites
A.D.A.M
on
Demand
Health
Centers
Patient
Journeys
Medicatio
n
Managem
ent
Objective About HCM Customers
Value
Proposition
Scope of
Activities
Value
Capture
Competitor
Strategic
Control
• Restrictive Practices
– Strengthen and establish ‘exclusive’ relationships
with hospitals
• Vertical Integration
– Being part of EBIX’s wider ecosystem offers better
control of the market
• Cost advantages independent of scale
– Proprietary technology, know-how; learning
curve cost advantages
Objective About HCM Customers
Value
Proposition
Scope of
Activities
Value
Capture
Competitor
Strategic
Control
Objective About HCM Customers
Value
Proposition
Scope of
Activities
Value
Capture
Competitor
Strategic
Control
HealthcareMagic - Business Model and Comparitive Analysis

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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.
  • #40: http://www.adam.com/consumer-health
  • #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.