Think Big Assignment: Analysis of Oscar Health's Business Model

This assignment analyzes the business model of Oscar Health, a health insurance company. It begins with an introduction to Oscar Health, its industry, market, and services, focusing on providing customers with various insurance plans and connecting them with doctors. The core of the project is a detailed breakdown of Oscar Health's business model canvas, covering key partners, activities, value propositions, customer relationships, segments, cost structures, and revenue streams. The assignment then explores the interlinkages between these nine building blocks, followed by a SWOT analysis for each building block and the business model in general. The project identifies critical success factors for sustainable success and concludes with proposed changes to the business model, offering insights and recommendations for improvement.

Running head: THINK BIG
Think Big Assignment
Name of the Student:
name of the University:
Author’s Note:

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Table of Contents
Introduction......................................................................................................................................4
Provide introduction/background and a succinct description of the business, the industry in
which it operates, the market or markets it serves, and the products and services it provides........4
Describe the business model canvas of the selected business using the nine building blocks........5
Key partners.................................................................................................................................5
Key activities...............................................................................................................................5
Value proposition.........................................................................................................................6
Customer relationship..................................................................................................................6
customer segments.......................................................................................................................7
Cost Structure..............................................................................................................................7
Revenue Stream...........................................................................................................................7
Explain the key relationships that exist across the nine building blocks (Interlinkages) and
SWOT analysis on each of the nine building blocks/ or on the BM in general..............................7
Key Partner..................................................................................................................................7
Channels......................................................................................................................................8
Key resources...............................................................................................................................8
Key activities...............................................................................................................................8
Customer relationship..................................................................................................................9
Customer segment.......................................................................................................................9
Cost structure.............................................................................................................................10
Revenue stream..........................................................................................................................10
Identify and discuss the critical success factors the business has to get right to achieve
sustainable success.........................................................................................................................10
Discuss the changes you would make to the business model if this was your business................11
Conclusion.....................................................................................................................................11
References......................................................................................................................................12
Introduction

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Oscar Health is multipurpose health insurance company that is providing the customers
with several services right under one roof. They have made several insurance plans for the
consumers. This company connects with the best doctors available so that they can give proper
care and attention to the people
Provide introduction/background and a succinct description of the business, the industry in
which it operates, the market or markets it serves, and the products and services it
provides
Oscar health helps the patients to easily avail all the medical services for the patients.
They mainly work in the insurance department market and make sure that the patients are getting
proper insurance plan as well so that they can get covered for their expenses (Safadi et al., 2015).
They provide services like connecting the patient s to the doctors, booking the doctors and
looking for their availability and also to make sure that the patients are not facing any such
problem (Oscar | Smart, simple health insurance., 2018).

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Describe the business model canvas of the selected business using the nine building blocks
Key partners
In order to increase their business and help out their clients properly, they have entered
into a partnership with the Cleveland Clinic. This is because one of the main aspects of
flourishing in business in the modern day scenario is expansion. Business expansion is largely
based on the advertisement. In order to reach out to patients living in Ohio, Oscar health has
entered into a partnership with one of the leading academic health centers Cleaveland Clinic.
This is something much more than just the traditional checkup of patients. This partnership will
provide the patients with patient education, better medical facilities, and better medicines at
Key partners
Cleaveland clinic
Humana
Key activities
Medical facility &
insurance provider
Key Resources
technology and
connections
Value
Proposition
connecting
patients with
best doctors
& Insurance
plans
Customer
relationship
Maximum priority
to customers.
Channels
Mobile apps
Customer
Segments
All the
patients who
have a
membership.
Cost Structure
The heavy hospital equipment used to incur a huge
cost.
Revenue Streams
Money is earned through the insurance plan
opted by patients.

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affordable price (Alroughani et al., 2016). The patients will buy any insurance plan from the Oscar
Cleaveland Policies. All bookings will be done through the Oscar app itself but the patients will
receive the service from the doctors of the Cleaveland clinic.
Key activities
Main activities that will be rendered by the Cleaveland are providing better medical
facilities to the patients. The partnership will help in extending the facilities to patients living all
across the Globe.
Value proposition
The values that will be generated by the company are providing proper education to the
patients so that their approach towards getting the proper medical facilities can be upgraded
properly. They will also be able to understand the benefits of buying a medical insurance plan of
their choice. They will be able to know about the benefits as well. They will get all the facilities
under one roof. They will also be able to avail the services very easily through mobile apps.
They will also be saved from the huge expenditure of money they had to spend otherwise by
traveling to so many different places and also be consulting with so many different doctors. It
would have been a headache for them to go to many different places in search of doctors and get
different opinions. They would also face inconvenience by buying and taking so many different
medicines. There can also be instances when the patients may have to sell their homes or their
belongings for getting the medical expenses (Osmani et al., 2017).
Customer relationship
Oscar Health Company gives priority to their customers. It is for the benefit and the well
being of their customers that they have established the different kinds of insurance coverage

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plans that will help the customers in many different ways. They have created easy to use mobile
apps, through the help of which the customers can easily reach out to the customers and vice
versa. They also pay sufficient importance to the customer feedbacks. It is based on those
customer feedbacks that they try to make improvements and changes that will help in making
their services better. They also distribute free fitness tracker to their customers so that they can
lead a healthy lifestyle (Meruvia et al., 2016). These are the few things that will help the company in
making all the needed changes in order to advance themselves more. All these are the facilities
that are not received by the patients in rest of the other health insurance company.
Customer segments
The Oscar Health Insurance Company is mainly targeting at are the patients who are in
need of proper medical assistance. However, this must be noted in this context that patients who
have a good economic condition and are well versed in the usage of technology can make proper
use of this service (Ladika, 2017).
Cost Structure
The huge amount of cost is required mainly in order to gather all the equipment that is
necessary for the purpose of running this business. A huge amount of technologically advanced
digitalized machinery and equipment are needed for the purpose of providing the sufficient
amount of facilities to the patients (Cummings, Zhong & Bernick, 2014).
Revenue Stream
The revenue or the amount of profits that are earned by the insurance company is mainly
through the different insurance plans that are opted by the patients.

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Explain the key relationships that exist across the nine building blocks (Interlinkages) and
SWOT analysis on each of the nine building blocks/ or on the BM in general
Key Partner
The relationship is that as they have entered into the partnership with the Cleveland
Clinic, they will now be able to give better medical facilities to all their clients. The strength of
entering this partnership is that they will be able to expand their business and will also be able to
bring more patients under one umbrella. The customers will be happy as they will easily get best
medical facilities (Christophersen et al., 2017).. As this partnership is with Cleaveland clinic, the
Patients will repose full faith as Cleaveland clinic has the best reputation in the market and is
also known to have the best doctors and healthcare specialists.The weakness of this partnership
can be that many of the clients may not be able to understand the motive behind the partnership
and they may be ignorant about the benefits that they are to get. The opportunities can be that
they need to maintain the needs of the customers that will change over time. They must be
introducing more diversity in terms of their products and services. The threats can be that they
will be facing a very tough competition in the market and there can be a sudden depression in the
economy of any country. This will hamper the income of the people and they will not be able to
afford the insurance plans (Cleveland Clinic: Our partnership with OscarHealth is beating
expectations by 30%., 2018).
Channels
The strength is that the mobile apps are best suited for connecting with the customers.
Weakness is there can be several errors in the apps or many customers may not be able to access
those apps (Kapadia & Amirfar, 2016). Opportunity is developing those apps further. The threat is
that those apps can be hacked or can go out of order (Almeida et al., 2017).

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Key resources
The strength is that most of the customers nowadays look for insurance plans and this
can really earn a huge resource (Peña et al., 2017). Weakness is that some clients may opt out of
using these insurances. Opportunity is to develop and bring more aspects under this insurance
cover. The threat is if the customers start giving up the insurance membership plans and opt for
other alternative insurance company (Ladika, 2017).
Key activities
The activities that are performed by the Oscar Health are its major strength. The clients
do not get such services anywhere else. Their activities include providing insurance plans to the
patients. They have three different insurance plans that will help the clients to easily select and
then opt for one. The weakness can be that they can face a huge competition from many other
health insurance companies or from another health clinic as well who would provide free
medical facilities to the patients.The opportunities can be that they will be able to grow and
improve their products and their services so that they can meet the changing needs and demands
of the customers.The threats can be that these same services might be given by some of the
companies involved in the health insurance sector and this might shift the attention of the
customers.
Customer relationship
The strength is that Oscar Health gives the best services to their customers and tries to
create innovations and up gradations among themselves. The customers will naturally get
attracted to those insurance companies that will give maxim mum priority to the customers. They
bring the best medical services to the customers (Boulware et al., 2016). They will bring not only
the doctors who are having the best knowledge and skill but they also give their patients free

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health trackers and help them to maintain a fit and healthy life. Theweakness can be that these
same facilities can also be provided to the patients by many other insurance agencies and some
patients mightnot be used to the usage with the apps (Cabral, Geruso, & Mahoney, 2014). The
opportunity is that they have to expand their business even further so that they can get more
clients that will help them in their business. The threats can be that the clients may not be happy
with the products that will be provided by them. There can also be some faults in the
manufacturing of those items (Cucunubá et al., 2017).
Customer segment
The strength is that they are working for a good cause and are helping the patients. The
weakness can be this that there may be patients who will be staying in regions outside the area of
their operation (Ponce et al., 2018). The opportunity is that they must increase their area of
operation further. The threat is that it must make some provisions for free treatment or more
cheap insurances so that the lower income group people can also afford (Sink et al., 2015).
Cost structure
The strength is that they use the best medical equipment needed. Weakness can be this
that they might not be able to carry on the maintenance of such expensive
equipment.Opportunity is this that they will be able to provide the best facilities available to the
patients.The threat is this that the customers might find it tough to pay the bills for such
expensive equipment (Kapadia & Amirfar, 2016).
Revenue stream
Strength is that they get a good amount of money from the patients who take the
insurance plans. The weakness can be this that the clients might cancel the insurance

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memberships halfway. The opportunity is that they can utilize this money for improving their
goods and services (Boeve et al., 2016). The threats can be that if somehow the clients are
unhappy they might cancel the membership plan, then the revenue earned will lower by a great
percentage (Kapadia & Amirfar, 2016).
Identify and discuss the critical success factors the business has to get right to achieve
sustainable success
In order to get sustainable success, the business will have to create more insurance plans
with cheaper rates so that it can be used by the more number of clients. They will also have to
increase their business to a large number of places so that they can gain popularity and can also
improve their goods and services constantly (Meruvia et al., 2016).
Discuss the changes you would make to the business model if this was your business
If it would have been my own business, then I would have first created ways so that the
patients do not find difficulties in contacting us. In other words, creating apps is perhaps the best
way for connecting with the clients. However, there are people living in the remote areas where
they may not be able to access proper net connections or any apps. So, the advertising must be
done through leaflets as well with all details printed on them. I would enter into some
partnerships with some NGOs that would help my business to reach out to the poor and needy
people. This would make the business popular and also help in maintaining the CSR. Free
treatment facilities would also have been increased as all of them cannot afford insurance plans.

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Conclusion
Thereby, it can be concluded that Oscar Health is really doing a good job by providing
the best medical facilities to the patients and by giving them the best insurance plans as well.
However, they need to work more to find out new insurance plans that will help to get a number
of clients. They must also establish some free medical facilities and constantly keep on
upgrading themselves.

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References
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Kantarci, K. (2016). Arguing against the proposed definition changes of PD. Movement
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Boulware, L. E., Cooper, L. A., Ratner, L. E., LaVeist, T. A., & Powe, N. R. (2016). Race and
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associated with atrial fibrillation. Nature genetics, 49(6), 946.
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(2018). Advisory.com.

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