Victoria Uni: Home Telemonitoring Business Strategy Proposal (BMO6511)

This document presents a comprehensive business strategy proposal for a home telemonitoring venture, focusing on the BMO6511 Strategic Management and Business Policy course. It begins with a vision to enhance the well-being of older adults with chronic diseases through personalized technologies. The report analyzes the external environment, highlighting Australia's aging population and the competitive landscape of patient monitoring systems, including major players and the threat of substitutes. It also examines the internal organization, identifying core competencies such as interpersonal communication and care coordination. The business-level strategy focuses on providing high-quality, cost-effective care, targeting seniors with chronic diseases and leveraging telemonitoring to improve patient outcomes and reduce healthcare costs. The proposal details the value of the service to various stakeholders, the role of personalization, and the use of technology to bridge the gap between home and physician care. The strategy emphasizes differentiation through responsive customer service and customized services.

Business Strategy Proposal
This document pertains to BMO6511
Strategic Management and Business Policy:
Assessments 2.
Victoria University. www.vu.edu.au . CRICOS Provider No. 00124K (Melbourne), 02475D (Sydney), RTO Code 3113
Home Telemonitoring Business
Jared Sharp
s3108520
WORD COUNT: 1892

ASSESSMENT 2 – PART A
1. VISION
The world we live in a highly interconnected. From the appliances within our home to advanced
complex control systems are connected to information relaying services. According to Miller (2007)
the thirst for connectivity, this has resulted in many major social, technological, and economic trends
in the last decade. Among these trends is the push for telehealth, which principal force in providing
healthcare to underserved communities (Miller 2007). Telemonitoring is one example of a technology
initiative that extends the patient-caregiver relationship beyond the traditional clinical setting that
allows the monitoring of chronic illness and helps consumers track their symptoms.
The venture is based on a Business-to-Consumer (B2C) model where patients are provided with
telemonitoring devices and through the use of a point of health application on a smartphone and/or
tablet, continuous monitoring of symptoms occurs by a ‘telenurse’ at a telemonitoring centre. The
telenurse is responsible for the care coordination with the physican, pharmacist, and/or informal
caregiver ensuring each stakeholder is involved in the care process of the patient. The patient is still
part of a healthcare system, which pays for the physican time and service, but is able to receive the
telemonitoring service irrespective of location or time. The procurement of medications and
reimbursement for healthcare services occurs via regular pharmacies and insurance companies/
national health systems.
The vision of the venture is to revolutionize how technology is used to enhance the physical, social
and cognitive well being of older people with chronic diseases living at home and to support them,
their families and caregivers. To achieve this vision it is proposed that through the use simple-to-use,
personalised technologies, older adults will experienced a enhanced quality of life and wellness whilst
providing peace-of-mind to the patient and caregivers.
2. EXTERNAL ENVIRONMENT – ANALYSIS
Australia’s population is ageing. According to the Australian Bureau of Statistics (ABS) 2017, in 2017,
there were 3.8 million Australians aged 65 and over (comprising 15% of the total population). Within
30 years it is projected there will be 8.8 million older people in Australia (22% of the population) aged
65 and over (fig 1). With this increase it will lead to a significant increase in demand for specialised
healthcare services.
Figure 1: Proportion of Australian population 65 years and over
ABS 2017. Australian Demographic Statistics, Jun 2016. ABS cat. no. 3101.0. Canberra: ABS,
The market for patient monitoring systems in Australia is moderately competitive and consists of the
global as well as local players. Software platforms that capture and then transmit clinical data
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require significant capital investment. The costs associated with the provision of telemonitoring
services are best accessed through an analysis of linked activities and functions that happen as a
result of service delivery. Given this there is a growing trend of partnerships and agreements
between the industry participants, medical device manufacturers and telemonitoring applications in
pursuit of the service delivery.
There are a number of stakeholders with interests in the success of telemonitoring systems. For
instance, insurance companies and patients would experience benefits in the way healthcare is
provided due to more earlier and accurate diagnosis and treatment regimes. This ultimately improves
quality of life and wellbeing of the patient. By virtue of the ability to continuously record health
parameters, Governments and other regulatory bodies would benefits from this data collection with
the view of new legislative initiatives, which could help in future instances of disease outbreaks. It can
be extrapolated that many stakeholders with keen interests to either increase profits, reduce costs or
in the pursuits of increased efficiencies in healthcare delivery could benefit from the telemonitoring
technology.
Healthcare is considered an expensive industry with readmissions leading to significant hospitalisation
costs. A system that potentially reduces trips to hospitals, helps individuals learn about their own
health status and provides a link between patient and physician can significantly decrease healthcare
costs. Whilst traditional medical devices may have a price advantage over Bluetooth technology, this
is considered a time consuming where patients may stop tracking their health conditions. With the
technology of transferring information via Bluetooth-enabled devices to smart devices immediately
and then transfer to physicians will save time for patients and physicians.
In terms of market share, with few major players dominating the market there is significant competition
in developing telemonitoring systems, solutions, services, with advanced characteristics and their
performance. With the myriad of alternatives on the market, the threat of substitutes is moderate.
In Australia the telehealth market is highly competitive with several major players. With over 300
digital health companies in the market they provide a range of services from Telehealth, telemedicine,
diabetic management, telemonitoring, mental health, symptom checking to digital therapeutics and
clinical decision support technologies. Many of the top global companies in telemonitoring systems
have a presence in the Australian. These include Abbott Laboratories, GE Healthcare Australia,
Philips NV, Aerotel Medical Systems Ltd, Sonic Healthcare and Global Heath. According to Wilsmore,
& Leitch (2017), only 9% of the digital health companies in Australia focuses on telemonitoring
services.
Specific to telemonitoring, these companies offer 3 types of healthcare.
 Real-time health is the most utilised form of telecommunications that provides an
instantaneous interaction via videoconferencing between provider and patient.
 Store and forward service where digital images, video, audio and clinical data is captured and
stored on a computer and then securely transmitted to clinic at alternate location for review by
a relevant specialist.
 Remote monitoring with consistent, reliable and accurate monitoring of a patient's vital signs
and predetermined health measures.
Of these companies, eHomeCare is an industry leader who have partnered with a telemonitoring
technology company and integrated an empowering technology platform to monitor clients in remote
areas of Australia. Depending upon unique needs of the client, eHomecare offer a range of products
and customized telecare solutions.
Medtronic is another company that primarily offers a cardio vascular, respiratory and diabetes
monitoring service. With the vision of delivering better patient outcomes, improving access, and
lowering the overall costs of care, they form alliances with healthcare specialists (i.e. healthcare IT
companies, diagnostic providers and caregivers organisations) to deliver a holistic service.
Whilst these companies offer a range of services, upon analysis there are opportunities to offer an
expanded service that includes:
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 Allied health monitoring feedback and program modification
 Discharge planning from large hospital to small community hospital
 Supporting the assessment, prescription, fabrication, modification and review of specialised
equipment for people with disabilities
 Providing community education sessions to outreach sites
 Linking clients and Allied Health Professionals to specialist clinics in bigger centres (e.g.
burns, amputee, neurology)
3. INTERNAL ORGANISATION – ANALYSIS
The identification of core competencies creates an essential foundation for preparing and further
developing a workforce to deliver integrated care. These include:
 Interpersonal communication: to build relationships and to communicate effectively with
consumers
 Screening and assessment: To conduct brief evidence-based screening and arrange for more
detailed assessments when needed.
 Care planning and coordination: create and implement integrated care plans, ensuring access
to an array of linked services, and the exchange of information among consumers, family
members, and providers
 Intervention: provide a range of brief, focused prevention, treatment and recovery services, as
well as longer-term treatment and support for consumers with persistent illnesses.
 Systems oriented practice: function effectively within the organisational and financial
structures of the healthcare system
 Informatics: use information technology to support and improve integrated healthcare
Telemonitoring creates the setting where it brings the physician and healthcare services directly to the
patient. Through advances in technology and improved Internet delivery, it is changes the
doctor/patient relationship by making the patients the centre of healthcare delivery. Through
telemonitoring technologies, this improves the convenience of care for patients who are experiencing
mobility issues and allows them to remain in their own home whilst controlling their long-term chronic
conditions.
Patients can be empowered through telemonitoring technology and proves to be an effective tool for
patient education initiatives linked to population health metrics. It also allows a cost-effective and
efficient model for engaging patients in their own clinical care. Orozco-Beltran et al (2018) outlined the
improved patient outcomes through telemonitoring. These included the monitoring and communication
of a patient so that patients have the tools they need to better manage their care.
Both doctors and patients are experiencing significant increases in healthcare costs. High deductible
insurance premiums have increased consumer out-of-pocket costs, which may result in patients avoid
healthcare services. Telemonitoring addresses these concerns somewhat by limiting the travel costs
associated with traditional medical visits.
Through a differentiation strategy, the venture aims to offer responsive customer service, customized
telemonitoring and other high-value products and services, which will result in a higher cost structure.
By making use of mobile technologies, healthcare is extended beyond a traditional clinical setting, and
allows the business to keep an eye on chronic illnesses and whilst allowing consumers to track their
symptoms.
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STRATEGY
4. BUSINESS-LEVEL STRATEGY – STRATEGY FORMULATION
Providing higher-quality and more cost-effective care for older adults with complex conditions will
require models of care that better integrate health care and social services and improve supports for
family caregivers. Through telemonitoring, a wide range of diagnostic, therapeutic, communication
and care management services can be delivered directly to the consumers within the own home
and/or community.
Primarily the service is targets art the senior population (>55 years) with chronic diseases who are
living at home. Additionally there are other constituents like hospital administration and staff who
through advocacy recommend the service; primary care physicians who refer their patients; and
supporting organisations (church groups, charities) that who close relationships with their local
population. The table below outlines the value of the service to the various stakeholders:
Customer Communities Primary Care Provider Specialists
Accessibility: care
when and where they
want it
Affordability: reduced
travel time, expense an
time away from work
Timeliness: reduces
wait time to access
specialists
Integrated and
coordinated care
Keeps patients in local
community whenever
possible
Promotes rapid
diagnosis and
treatment links to
improved patient
outcomes
Improves outcomes
and therefore improved
health of population
Promotes coordinated
care
Maintains primary
relationship with patient
Establishes credibility
with patient
Promotes greater
patient satisfaction
Generates revenue –
visit reimbursement
Extends broader reach
to patients
Increases patient
volume and revenue
and maximises time
and efficiency
Reduces
documentation
redundancy by using
common Electronic
Medical Record
platform with Primary
Care Physician
Promotes coordinated
care
Patients with chronic health issues may experience difficulties obtaining healthcare support due to
carious reasons. The time, distance and effort required to see their primary care physician or
specialist, may delay care and see patients live with the problem until their situation deteriorates to the
point that results in admission to hospital. Telemonitoring bridges the gap between home and
physician thereby allowing patients to remain in their home and community.
In addition to disease tracking capabilities, the telemonitoring software also serves as an education
platform, provides scripted interactions with patients according to signal reads from the monitoring
devices. Personalisation is driven by severity of the disease, therapy adherence and willingness to
pay. By providing continuous unobtrusive personalised monitoring, a dedicated telenurse is able to
monitor the patient via a dashboard and acts as a health coach when needed. In the event of an
emergency or during the night patient is not supervised by a real person, an algorithm flags an alert
and the emergency services are contacted. Given this the patient has peace of mind knowing that
they are being look after as it brings healthcare directly to the patients doorstep.
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ASSESSMENT 2 – PART B
The blog exercises have proven to be an unexpected useful exercise in using writing to learn. I feel
that the task of starting a new thread or replying to blog post helps me think in a different way. It
serves as a different way creating ideas, questioning the rationale behind chosen ideas and has
ultimately influenced the direction of the business proposal activity. With members coming from a
wide range of professional backgrounds, the different perspectives have been insightful.
On the September 10, I posted the vision and mission for my fictitious telemonitoring business. I
received some useful feedback that generated a number of thoughts. In particular I reference the
reply provided by M. Heitz (2020) to the discussion thread “Assessment 2 Q&A’ where he suggested
to replace the word of ‘technology’ with the vision statement due to the elderly population lacking
technical proficiency or being scared of it. Research published by Lancaster University in 2018 stated
that while a digital divide between younger and older people does exist the widely held belief that this
is due to accessibility is misleading. Personally held values specific to the desirability of technology,
and the fears of getting things wrong are significant factors in limiting the use of technology use
among this population. However the purpose of the business is to provide monitoring of chronic
diseases where the integration of technology is the very heart of achieving this objective. Through the
investment of technologies that delivers preventative and value-based care, we are providing peace of
mind knowing to our customers and their families that ‘someone’ is monitoring the health status whilst
being afforded the opportunity to age in place at home. I feel that reimagining the best place to
provide care for seniors with chronic health issues holds enormous potential. Supporting individuals
within their own home through the application of technologies illustrates the potential opportunity to
build a network hospital without the bricks and mortar.
Binmerdhaalmeri, M (2020) also provided an interesting comment pertaining to the importance of
building intergenerational communities. Connecting our youngest and oldest generations helps bring
seniors and kids together to form mutually beneficial relationships. Literature identifies a large range
of positive outcomes for young and older people and their broader communities. For individuals, these
included increases in self worth, less loneliness and isolation, new connections and friendships, The
benefits to the broader community include the building of social networks, greater diversity, breaking
down of stereotypes, and enhancing of culture in particular communities. So the comment made by
Binmerdhaalmeri, M (2020) was thought provoking in that it reinforced the importance of supporting
adults to age in place within their own community, and telemonitoring plays a significant role in
ensuring this.
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Appendix 1:
Sharp, J 2020, ‘Assessment 2 Q&A. VU BMO6511 Discussion Blog, 6 September, viewed 10
September, <https://vucollaborate.vu.edu.au/d2l/le/804078/discussions/threads/218748/View>
Copy of my initial post 10 September at 02:55
Hi everyone,
My professional background is in the field of senior healthcare, an industry that I am deeply
passionate about. We are all experiencing the impact of pandemic in different ways, none more
than the impact on the senior healthcare industry. As we navigate the pandemic crisis and prepare
for the “next normal” I am looking at the niche business of telemonitoring for seniors living at
home. The primary aim of telemonitoring is to improve chronic disease management and
decrease hospitalizations, which ultimately have a positive impact on patient's health-related
quality of life.
I’ve started brainstorming a vision for my business and I want to share it with you for feedback.
Vision
To revolutionize how technology is used to enhance the social, physical and cognitive well being of
isolated seniors living at home and to support them, their families and caregivers.
Purpose
To transform the quality of life of seniors through simple-to-use, personalised technologies that
educate, entertain, inspire, connect and engage members of our community.
To dramatically enhance the ability of older adults to stay physically, mentally and socially active by
creating and delivering interactive learning, social, entertainment and community-building group
activities and programs that can be enjoyed from home.
Any feedback would be appreciated.
Cheers
Jared
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Binmerdhaalmeri, M 2020, ‘Assessment 2 Q&A. VU BMO6511 Discussion Blog, 6 September, viewed
14 September, <https://vucollaborate.vu.edu.au/d2l/le/804078/discussions/threads/218748/View>
Copy of reply posted 17 September at 01:36
Good morning Mirfat,
Thank you for taking the time to upload a post. I have also re-posted on the Week 2 Discussion: The Problem -
what unique value must I bring? Below is a few observations to your thought provoking reply.
One of the major global epidemiologic trends of the current century is the rise of chronic diseases. Given your
experience in the healthcare industry you would readily appreciate that Australia’s hospital-centric public health
system is unnecessarily burdened by the management of these diseases.
Telemonitoring health is only a piece of a larger complex jigsaw that is telehealth. I believe that home-
telemonitoring, when used to connect with other healthcare services and providers has the potential to improve
the management of chronic conditions and hence reduce unscheduled admissions to emergency departments and
hospitals and ultimately allow individuals to live within their own home within their own community.
The effectiveness of home-telemonitoring, however, may depend on a number of factors such as users’
perceptions and ability to use the devices and adherence to schedules of monitoring. The intergenerational
approach to ageing (where old and young regularly interact or live with each other) offers incredible benefits for
both generations. Connecting with younger generations also promotes a sense of purpose, which has been
shown to increase longevity and health. Younger generations would be highly useful in educating older adults
about the technology.
As aside, one of the key barriers of this technology relates to the integration of telemonitoring into existing
models of care at the services provider level. These barriers included the capacity to implement/participate in
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new programs within health organisations. To over these barriers, quality infrastructure, public and private
sector collaboration, and funding models that take into account the various modalities of delivering healthcare,
must be taken into account.
Perhaps the COVID-19 pandemic is an unforeseen culture interloper that has profoundly changed the way we
live and how we access healthcare services
Jared
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Appendix 2:
Heitz, M 2020, ‘Assessment 2 Q&A. VU BMO6511 Discussion Blog, 6 September, viewed 10
September, <https://vucollaborate.vu.edu.au/d2l/le/804078/discussions/threads/218748/View>
Copy of reply posted 17 September at 07:36
Copy of reply posted 17 September at 07:36
Hi Michael,
Thank you for taking the time to reply to my post. Greatly appreciated.
The term technology certainly creates some degree of anxiety in the older population. This we
need to appreciate and acknowledge. Yet we cannot hide from the fact that technology now
supports or streamlines many day-to-day activities. Continued technological developments are
occurring alongside the aging of global populations, creating opportunities for technology to assist
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older people in everyday tasks and activities, such as financial planning and connecting with
friends and family etc.
Certainly older adults have an ambivalent attitude towards these types of technology: on the one
hand, they recognise that such technologies could support their independent living and improve
quality of life, while on the other hand, they do not feel that they personally need them.
Specific to your post re: the use of the word technology in my vision statement, I feel that aging,
technology and health issues are inextricably linked. The march toward an ever-aging society
underscores a major demographic and technological shift – the wellbeing of many of the ageing
boomers will increasingly depend upon technology.
Onwards
Jared
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Appendix 3:
Heitz, M 2020, ‘The problem – What unique value must I bring? VU BMO6511 Discussion Blog, 9
September, viewed September, <https://vucollaborate.vu.edu.au/d2l/le/804078/discussions/threads/
218766/View>
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Copy of reply posted 17 September at 08:17
Hi Michael,
Nothing wrong with being aspirational, especially if you have found a purpose and passion
from the Ikigai activity.
Years ago I read an article about the coffee industry and there was a quote of interest -
"There's 100 places you can go for great coffee, but what else are you going to give the
customer?” In a competitive market, the task of doing something unique to differentiate your
business and attract customers that makes people choose your café over the one down the
road is a good challenge.
Indeed the cafe culture / coffee industry is mature, with people willing move mountains to
grab a perfect cup of coffee from their favourite haunt. With the aim of developing a
differentiated atmosphere, how do you envision this one-of-a-kind experience? A
combination of location and destination? Is it through a signature drink or product? A unique
concept or theme, or is it through your values interwoven into the fabric of the company in a
special way?
You have identified organic, fair trade, health conscious which is great. Given that food and
drinks have their unique features people care about, would you consider extending this to
include gluten free specialist, diabetic food, or low GI range? To keep costs low would you
consider outsourcing these items thereby limiting the need for a larger kitchen area, and
staffing.
Below is link to an article that maybe of interest to you and your vision.
Onwards and upwards
Jared
https://assemblycoffee.co.uk/blogs/insights/1-communicating-value-in-independent-coffee
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Appendix 4:
McConnell, C 2020, ‘Conduct a SWOT analysis’. VU BMO6511 Discussion Blog, 6 September, viewed
15 September
https://vucollaborate.vu.edu.au/d2l/le/804078/discussions/threads/218771/View
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Copy of reply posted 17 September at 05:57
Hello Courtney,
Super interesting read. I agree with many of your observations. In Zara's quest to democratise fashion,
concerns have also been raised around the ethics of the company's environmental impact. They have
earned a reputation for producing a flood of clothes ultimately destined for landfills. Given the increasing
awareness about sustainability, I wonder what strategies Zara will put in place to address these growing
concerns.
I recently read an article on the emergence of biodegradable textiles from living organisms. Many of
today’s garments are woven from plastic-based acrylic, nylon or polyester threads, and cut and sewn in
factories. Excitingly researchers are working on tomorrow’s apparel which could potentially be
bioengineered (made from living bacteria, algae, yeast, animal cells or fungi), which would break down into
nontoxic substances when eventually thrown away.
There’s no doubt of Zara’s size and influence. Given that Zara is a company that depends on mass trend-
based consumption, there seems to be an opportunity to invest in eco-friendly marketable bioengineered
clothing materials. I wonder if Zara could reposition itself from existentially unsustainable to sustainable.
Thoughts?
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References
Australian Bureau of Statistics (ABS) 2014. Australian historical population statistics, 2014. cat. no.
3105.0.65.001. ABS, Canberra, viewed on 13 September 2020,
<https://www.abs.gov.au/ausstats/abs@.nsf/0/1CD2B1952AFC5E7ACA257298000F2E76?
OpenDocument>
Binmerdhaalmeri, M 2020, ‘Assessment 2 Q&A. VU BMO6511 Discussion Blog, 6 September, viewed
14 September, <https://vucollaborate.vu.edu.au/d2l/le/804078/discussions/threads/218748/View>
Celler, B, Varnfield, M, Nepal, S, Sparks, R, Li, J, & Jayasena, R 2017 ‘Impact of at-home
telemonitoring on health services expenditure and hospital admissions in patients with chronic
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Klasnja, P, & Pratt, W 2012 ‘Healthcare in the pocket: mapping the space of mobile-phone health
interventions’, Journal of Biomedical Informatics, vol. 45, no. 1, pp. 184–198.
Lancaster University. "Why some older people are rejecting digital technologies." ScienceDaily.
ScienceDaily, 12 March 2018. <www.sciencedaily.com/releases/2018/03/180312091715.htm>.
Miller, E. (2007) Solving the disjuncture between research and practice: telehealth trends in the 21st
century. Health Policy 82.2 (2007): 133-141.
Orozco-Beltran, D, Sánchez-Molla, M, Sanchez, J, Mira, J, & ValCrònic Research Group 2017,
‘Telemedicine in Primary Care for Patients With Chronic Conditions: The ValCrònic Quasi-
Experimental Study’, Journal of medical Internet research, vol. 19, no. 12, , pp. 400-412
Porter, M 1985, Competive advantage: Creating and sustaining superior performance. Free Press,
New York
Wilsmore, B & Leitch, J 2017, ‘Remote monitoring of medical devices in Australia’, Medical Journal of
Australia, vol 206, no. 2, pp. 62-63.
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