MGMT20143: Think Big Medical Drone Service Business Report

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Added on  2023/01/03

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This report proposes "Think Big Medical Drone Service," an innovative business idea designed to deliver emergency medical care via drones. The report addresses the growing need for rapid medical assistance, particularly in critical situations like heart attacks, and highlights the impact of traffic congestion on emergency response times. The business model leverages drone technology, equipped with CPR machines and AI-powered robotic arms, to provide immediate medical intervention. The report details the benefits, including improved health safety and knowledge, and outlines the business model canvas, emphasizing key partners, activities, value propositions, customer relations, and revenue structure. Critical success factors include speed and cost-effectiveness. The feasibility of the idea is supported by the novelty and potential competitive advantage within the Australian medical care market. References are included at the end.
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Running Head: THINK BIG
Medical Drone service
Think big
Report
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THINK BIG 1
Background
The world is suffering from over population and huge traffic flow which is actually creating
emergency situation during unpredicted health conditions. It has been found that this traffic
conjunction on global platform has impacted the flow of health emergency service. As a result of
which many people have lost their life due to lack of emergency services especially in case of
heart attacks (Ilton et al., 2014). At present health has become the primary need of every
individual all over the world and Australia is also contributing their support in this dangerous
health situations. Various researches are being carried to solve this issue of offering health
service to the individual on emergency base.
Idea generation
The growing demand of drones in almost all type of business services like even management,
security service and military service has act as the base for using service drones in offering
emergency health service with the help of artificial intelligence. The capability of drone has in
fact attracted towards many business corporate to use their service application in their different
business, especially in medical industry which is in growth stage in Australia (Pulver, Wei &
Mann, 2016). In addition to this easy launch of drone and control with the help of remote offers
this service extra benefit in business market.
Business idea
In present time, medical care industry is growth very fast in Australia as compared to other
business. It has been seen that Australia is having a huge investment in health sector almost $152
billion. This data clearly indicated that even government of Australia has understood the
importance of this service in their country and offering every possible support to this medical
care sector (Zema et al., 2016). The idea is provide emergency medical care help in case of
emergency needs with the help of medical drone. This drone will equip with CPR machine which
is also known as Cardio-Pulmonary Resuscitation. This machine is very helpful in case of heart
attack in which immediate pulse shock is needed. In addition to this, artificial intelligence will be
involved in order to provide support to the robotic arm in case if there will be no person available
near to the patient (Van de Voorde et al., 2017). In this situation, the medical drone will extend
their robotic arm which will help in putting the pulse patch on the front upper of the patient and
then continue with the process. Medical drone will make use of aerial path by which it can reach
to the patient with in time span of four minutes. This service will be first launched in the
metropolitan cities of Australian and after exploring the demand from the potential customers,
the company will think further for launching this service in rural or remote areas of Australia
(Ackerman & Strickland, 2018).
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THINK BIG 2
Benefits
Improved health safety
One of the most important benefits of this service is that it will help in reducing the health safety
risk associated with the potential customer by offering them emergency medical service like
CPR and others (Akpan, 2011). Medical drone service will make use of their speed and mobility
to form a safety platform for the patient in case of emergency and lead the nation to live in a
health safety environment.
Improved health knowledge
Another important benefit of this service is that this service is helpful in improving the medical
care knowledge of the Australian population with the help of medical consultation and important
aspects which are associated with medical service in emergency condition (Sørensen et al.,
2012). This will help in bringing awareness about the need of immediate service in case of issues
like CPR, need of insulin injections or other medical medicines.
Reduced life risk related to time bound
This service will help the customer in breaking the time bound situations like heart attack by
offering their service by avoiding heavy traffic jams and make use of aerial path to reach
customer as fast as possible (Duffield, 2010).
Model and components
Business model canvas will be the best model suitable for emergency medical drone service.
This business model will help in understand the key aspects which plays very important role in
the success of this business operation.
Key partners
In this business there will be three key partners which will decide the growth of this business.
One key partner will be groups which are expert in medical care services. Another key partner
will be software engineering which will connect drone with the software to track its locations.
Third key partner will be drone experts who are expert in drone service and maintenance. These
key partners will decide the future of this business in Australian medical care market.
Key activities
Key activities of this service are to provide emergency medical help in the form of CPR and
medical pocket to the person which is in need of immediate medical care. In addition to this,
common people of Australia will be made aware about the risk related to health and their
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THINK BIG 3
possible solution with the help of consultation. In addition to this, this service will be associated
with the local community in the form of strategic business partnership which will help in
promoting positive word of mouth in the community for this service (Osterwalder et al., 2011).
Value proportions
This service will be helpful in enhancing the healthy safety of the common individual with the
help of emergency medical drone service. In addition to this it will also help in increasing the
knowledge related to possible medical situation which can occur in any personal life. In addition
to this this service will also act as eliminating the risk associated with life regarding the lack of
medical services on immediate need.
Customer relation
This service will help in developing strong relation with the customer in the form of offering
health care. In addition to this, this service consists of people who are truly dedicated towards
offering trust environment to the customer that medical drone is always ready for their safety
(Dudin et al., 2015).
Customer segment
Fast service of medical drone will act as base for customer segmentation. In addition to this it
will act as medical carrier which will carry blood bank and insulin injections.
Key resources
The key resources for this service will be human capital, technical expert both in drone and
software, financial capital and support from the local health community partners in the form of
promotion.
Channels
Promotion for this channel will be used in the form of local healthcare community which will
offer free promotion in the form of positive word of mouth and other will be social media tool
like Facebook, Instagram and YouTube.
Cost structure
Cost structure will be divided in two formats, one will be fixed and other will be variable. Fixed
cost structure will include the cost related to salaries of employees, cost related to building and
related expenditures. In addition to this, it will also include cost of software and drone purchase.
In variable cost structure, cost analysis will be linked with the advertisement and travel expense
connected with the service promotion.
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THINK BIG 4
Revenue structure
Revenue of this service will be generated from the pay which will be paid by the customer for
availing this service along with the extra income which will be generated in the form of reference
from the customer in the community.
Critical successful factors
Critical successful factors related to this business are the fast speed by which this service will be
offer to the patient within four minutes of launch. In addition to this cost related to this
emergency medical care drone service act as another important aspect for the growth and
development of this business service (De Oliveira Dia et al., 2018). Offering CPR along with
medical carrier also act as its successful factor for this business service.
Feasibility
It can be said that this idea is feasible because it has been seen that there are very few companies
which are working on this platform and this idea is very new idea in the medical care market.
This unique will not be easy to be copied and will offer competitive advantages over other
business competitors in the market of Australia (Guerrero, M., Rialp, & Urbano, 2008). In
addition to this, drone service is already used in many kind of business like security and event
management which offers credibility to this business idea in form of possibility. The cost
associated with this service is realistic and therefore it will not be very difficult to get startup
capital from bank or other financial institutes which offers this service as the financial backbone
to the service.
Conclusion
Issues related to health are increase day by day and need of health service is growing very faster
on global level especially issues related to heart. In this situation medical drone service will act
as a medical revolution in the world of medical industry. With the help of this service the
emergency CPR service can reach to the patient within the time frame of four minutes. This will
help in increase the chances of patient survival as compared to other medical service in case of
emergency. The use of aerial path offers this service an additional benefit in terms of speed and
not chance of getting trapped in traffic conjunction. In addition to this, robotic arm offers
addition benefit to this service in which there is no need to person for carrying out the CPR
service because it will take help of artificial intelligence.
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THINK BIG 5
References
Ackerman, E., & Strickland, E. (2018). Medical delivery drones take flight in east
africa. IEEE Spectrum, 55(1), 34-35.
Akpan, E. I. (2011). Effective safety and health management policy for improved
performance of organizations in Africa. International Journal of Business and
Management, 6(3), 159-165.
de Oliveira Dias, M., Magalhães, M. A., Soares, C. P., & Valle, A. B. (2018). critical success
factors on business process orientation. international Journal of Management, 5(3), 43-61.
Dudin, M., Kucuri, G., Fedorova, I., Dzusova, S., & Namitulina, A. (2015). The innovative
business model canvas in the system of effective budgeting. Asian Social Science, 11(7),
290-296.
Duffield, M. (2010). The liberal way of development and the development—security
impasse: Exploring the global life-chance divide. Security dialogue, 41(1), 53-76.
Guerrero, M., Rialp, J., & Urbano, D. (2008). The impact of desirability and feasibility on
entrepreneurial intentions: A structural equation model. International Entrepreneurship and
Management Journal, 4(1), 35-50.
Ilton, M. K., Walsh, W. F., Brown, A. D. H., Tideman, P. A., Zeitz, C. J., & Wilson, J.
(2014). A framework for overcoming disparities in management of acute coronary
syndromes in the Australian Aboriginal and Torres Strait Islander population. A consensus
statement from the National Heart Foundation of Australia. The Medical journal of
Australia, 200(11), 639-643.
Osterwalder, A., Pigneur, Y., Oliveira, M. A. Y., & Ferreira, J. J. P. (2011). Business Model
Generation: A handbook for visionaries, game changers and challengers. African journal of
business management, 5(7), 22-30.
Pulver, A., Wei, R., & Mann, C. (2016). Locating AED enabled medical drones to enhance
cardiac arrest response times. Prehospital Emergency Care, 20(3), 378-389.
Sørensen, K., Van den Broucke, S., Fullam, J., Doyle, G., Pelikan, J., Slonska, Z., & Brand,
H. (2012). Health literacy and public health: a systematic review and integration of
definitions and models. BMC public health, 12(1), 80.
Van de Voorde, P., Gautama, S., Momont, A., Ionescu, C. M., De Paepe, P., & Fraeyman, N.
(2017). The drone ambulance [A-UAS]: golden bullet or just a blank?. Resuscitation, 116,
46-48.
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THINK BIG 6
Zema, N. R., Natalizio, E., Ruggeri, G., Poss, M., & Molinaro, A. (2016). MeDrone: On the
use of a medical drone to heal a sensor network infected by a malicious epidemic. Ad Hoc
Networks, 50, 115-127.
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THINK BIG 7
Appendices
Business Model Canvas
Key Partners Key activities Value
Proposition
Customer
relations
Customer
segments
Software engineers
Medical care
experts
Drone experts in
operation and
maintenance.
Consultation
related to health
Emergency
medical service
Strategic business
partnership
Enhance safety
related to health
Upgraded
knowledge
Eliminate risk
related to life
Feel of health care
with the help of
medical drone
Dedicated people
involved to form
trust environment
to customers
Segment through
emergency drone
service.
Key Resources Channels
Technology
experts both
drone and
software
Human capital
and financial
capital.
Promotion through
social media tools
and medical care
community local
center.
Cost Structure Revenue Structure
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THINK BIG 8
Fixed cost
Staff salaries
Land and building expenditures – lease
expenses and rent
Support software and drones purchase
Variable Cost:
Advertising expenses
Travelling expenditure
Revenue generated from payment related to availing service
and extras income in the form of customer reference in the
community.
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THINK BIG 9
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