Business Model Development Report for Oneview Solutions - University

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This report analyzes the business model of Oneview Solutions, a healthcare-oriented service providing patient appointment solutions. The study examines the company's operations, customer segments (primarily teenagers), client benefits, and the business model's key components, including key partners, activities, resources, and cost structure. It delves into the interrelated factors of the model, such as the target market and revenue streams, while also identifying critical success factors like efficient technology and staff expertise. The report addresses potential risks, including outdated equipment and communication challenges with the teenage demographic, alongside an evaluation of the overall feasibility of the business, suggesting an initial budget and potential for future growth through online marketing. The conclusion emphasizes the effectiveness of the business proposition and the importance of organizational factors in achieving goals, with a focus on smaller, achievable steps towards larger objectives.
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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. The business is a healthcare oriented service that provides solutions for the
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,
provides advanced technology solutions to the various healthcare organizations. 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.
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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
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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).
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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
covering the primary costs. Overall, the suppliers are good and can be used for better
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
Implications of the study point towards the fact the business proposition for 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
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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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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. In MATEC 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.
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8BUSINESS MODEL DEVELOPMENT
Soni, B. (2017). Star Model of Entrepreneurship. Star.
Appendix
Key Partners Key activities Value proposition Customer
relationship Customer 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 Resources Channels
Intangible assets,
technology,
technological
knowledge, medical
knowledge base
Technological
systems for
ordering meals,
nursing call for
non-clinical
control
Cost structure Revenue 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
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