This study focuses on understanding the business idea of Oneview solutions in the healthcare industry. It discusses customer problems, client benefits, and critical success factors. The target market is teenagers, and the revenue is generated through contracts and additional services.
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Running head: BUSINESS MODEL DEVELOPMENT BUSINESS MODEL DEVELOPMENT Name of the Student Name of the University Author Note
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1BUSINESS MODEL DEVELOPMENT Introduction The focus of the study is to understand further the business idea of the Oneview solutions.Thebusinessisahealthcareorientedservicethatprovidessolutionsforthe appointment of patients in the healthcare industry. The company has conducted its operations in two of Ireland’s hospitals in the years 2008 and 2009. The organization as discussed previously, providesadvancedtechnologysolutionstothevarioushealthcareorganizations.The technological solutions help to improve the satisfaction of the patients and attain excellence in health care economics. The study is focused towards understanding some of the significant aspects that are connected with the functional factors of business for the organization. Customer/Market problem The customer segment consists of the teenage groups. The company focuses on providing the customers with good quality healthcare services. In order to do so the company focuses on providing one room for each patient. The company provides technology that helps to maintain better interactions between the patients and the clinic staffs. The technology is a major aspect of the organization as it helps it to serve a larger target market. The organization focuses on providing low cost but effective technology that can help the organization to essentially interact with the customers. The market currently is being affected by a number of factors. More and more customers are affected by the changing health situations (Mottaeva, 2018). The main issue arises from the fact that the larger part of the customer market consists of the teenagers. The target customer base are not very much inclined towards using healthcare applications. In this case the organization would have to find better and effective ways to market their product. The services offered are important and should be promoted accordingly among the customer base.
2BUSINESS MODEL DEVELOPMENT Teenagers are relying more on the traditional forms of healthcare services. Moreover, with most of the healthcare oriented applications attracting the higher age groups it has become difficult for the teenagers to find the apps that are meant for them. The contract that the business depends on may also not be feasible for the teenagers. Client benefits The customer benefits that can be provided through the business is that a mutual relation can be created between the customers and the caregivers. The Oneview services focus on making contracts with the customers through which some of the long term health problems such as obesity, heart diseases, cancer, diabetes and arthritis can be treated. The customers will be benefitted through the contract as the latest technologies would be used to help them at much lower costs than otherwise possible. As mentioned previously an active partnership is to be created between the clinic staffs and the patients. It is important to remember that the customers are getting the services at a very low cost and personalized level. Regular monitoring is possible as well as prevision of timely treatment for a range of diseases. The chronic diseases if treated at an early age can be cured. Problems like obesity on the other hand can be easily treated at an early stage and healthier lives can be led by the patients. It is important to remember that the patients can interact personally with the clinical staff and get valuable information in regards to the treatment of their diseases. Moreover, the better technology that would be used increases the chances for the much faster recovery of the customers. Business Model Discussion The business model would be based on providing the customers with services under contracts. The buyer segment that has been identified is the teenage buyers. The patients that are
3BUSINESS MODEL DEVELOPMENT suffering are increasing with regards to this segment. It is important that the rising number of patients are provided essential care. Quality care is to be provided to this customer base. The services would be provided by the key partners. The key partners in this case are the system integrators, the technology providers, regional managers and consultants and assistants. Other important stakeholders include the hardware support, procurement and installation services. There are other important partners like the electronic and advisory panel. Key activities will include as discussed, the partnerships with patients. Providing latest technological healthcare treatments would also be very important activities. These would be used to create better customer relationships (Harms, 2015). The focus will be on creation of essential relationships between the organization and the customers. The channels that are to be used will be the electronic meal capacity to measure the exact nutrition requirements of the customers. Nurse call avail services would be used to provide quick assistance. The entirety of the business model would be held together with the cost structure which would focus on providing cost effective services to the patients. Including more patients to lower the costs would be a significant focus. Optimal utilization of latest technologies towards helping to educate patients suffering from chronic issues that are common will save further costs. The revenue stream will be from the contracts and from some of the in-contract services that would be charged extra. The revenue streams would also be from some of the non-contract based short time medical services. Discussion of interrelated factors of the model The interrelated factors are the target market and the revenue that can be earned through the provision of essential services. In healthcare sector the primary focus is always towards providing essential healthcare services to the patients. However for any organization revenue becomes an important factor for earning success. It is important that the key resources are
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4BUSINESS MODEL DEVELOPMENT utilized through the right channels (Soni, 2017). It also becomes important that the Key activities, customer relationships, buyer segments and channels are effectively aligned. This would help in the better provision of services and at the same time ensure the smooth flow of the revenue stream. There is an important relationship that exists between the key resources and the key partners as they would be providing the services (Salnikova, Lempert & Lempert, 2015). The cost structure actually affects the kind of services that would be provided to the customers and has significant relationships with the channels and the buyer segment. Hence, a larger buyer segment would mean that the cost structure would be better and more effective. Critical Success Factors The critical factors for success depend on how much the Oneview solutions will be able to enhance the marketing and promotions of the organization. The success factors would depend greatly on the usage of efficient and updated technology. Customers prefer medical centers that can provide them with better and state of the art technological resources that can increase the chances of their better treatment. The expertise of the staff would be more important as personal care is a must in the healthcare profession. Additionally, an important factor is gaining the confidence of the patients. It is important for the better management of the organization and increases its chances for increasing revenue. Critical Risk Issues The key risk issues are the potential supply of backdated equipment. Moreover, the malfunctioning of the equipment is also a crucial risk. The teenage population would require significant online interactive platforms to communicate with the organization. Here there is a risk of not being able to communicate effectively with the teenage target audiences (Gaikwad, 2016).
5BUSINESS MODEL DEVELOPMENT The organization needs to essentially consider the legal risks. It needs to abide by the regulation of the highest health authorities. Not meeting the regulations of the health standards are significant risks for the organization. Hence, it becomes crucial that all these risks are essentially considered. There are risks involved in regards to the lower estimation of the finances. Similar services are already being offered by some other companies. Evaluation of overall Feasibility Overall, the feasibility of the entire process depends on how effectively the suppliers and the resources can be utilized. In consideration of the same. The organization needs to create a budget that covers all the costs that are related to the setting up of the initial phases of the business. An initial budget of around AUD 500, 000 can be considered to be a safe amount for coveringtheprimarycosts.Overall,thesuppliersaregoodandcanbeusedforbetter management of the required resourced. The business has a good potential to improve in the future. If online marketing and promotion is used, keeping in mind the target audiences being teenagers, it can help the organization to further consolidate its market position. The organization can consider the critical success factors to be achievable with the initial budget that has been considered. The channels for revenue are also sufficient to ensure greater profitability. Conclusion Implicationsofthestudy pointtowardsthefactthebusinesspropositionfor the organization is effective and can result in greater profitability for the organization in the future. It is however, very important to consider that the company needs to focus towards achieving all the essential goals for reaching greater heights. The organizational factors need to be essentially considered for better management of the healthcare services. It is important that the Oneview
6BUSINESS MODEL DEVELOPMENT healthcare service focuses on reaching smaller goals in pursuit of the larger more important goals that are to be achieved.
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7BUSINESS MODEL DEVELOPMENT References Beamish, P. W., & Lupton, N. C. (2016). Cooperative strategies in international business and management: Reflections on the past 50 years and future directions.Journal of World Business,51(1), 163-175. Gaikwad, N. K. (2016).Easy care home health agency–Business plan. California State University, Long Beach. Harms, R. (2015). Self-regulated learning, team learning and project performance in entrepreneurship education: Learning in a lean startup environment.Technological forecasting and social change,100, 21-28. Mottaeva, A. (2018). Formation of mechanism of programme management for the development of medical organizations. InMATEC Web of Conferences(Vol. 170, p. 01053). EDP Sciences. Salnikova, N. A., Lempert, B. A., & Lempert, M. B. (2015). Integration of methods to quantify the quality of medical care in the automated processing systems of medical and economic information.Communications in Computer and Information Science,535, 307-319. Sarea, A., & Hamdan, A. (2018). Review paper on entrepreneurship education and entrepreneurs’ skills.Journal of Entrepreneurship Education,21, 1-7.
8BUSINESS MODEL DEVELOPMENT Soni, B. (2017). Star Model of Entrepreneurship.Star. Appendix Key PartnersKey activitiesValue propositionCustomer relationshipCustomer segments Implementiation team, regional implementation teams, system integrators, consultants, managers, installation services, hardware procurement, hardware maintenance, electronic marketing partners, international advisory panel Parntnership between patients and clinical staffs, Developmen of new technology, providign effective trainign to staffs, serve patients that are suffering from heart desieses, obesity, diabetes, arthritis, etc. Customer health benefit, porviding medical assistance to customers, providing essential medical information, provision of essential healthcare continued assistance, regular health checkup, regular monitoring, electronic interactive communication facility talent retention of well trained employees, providing contracts and contract renewal services, the organization can suffer from uncertainty due to cancellation of projects Majorly teenagers, millenials, each patient to be given separate rooms Key ResourcesChannels Intangible assets, technology, technological knowledge, medical knowledge base Technological systems for ordering meals, nursing call for non-clinical control Cost structureRevenue structure Increasing number of patients drives in order to deliver cost effective services. Circumstances motivate healthcare assistants in order to utilise the patient appointment as an executive tool in order to achieve the expenses in the sector. Revenue stream would be from the medical services offered, the non-medical assitance offered as in case of information, the short term health services offered