When working with several start-ups in the healthcare industry, it’s fascinating to observe how passionate the founders are about their businesses. Healthcare startup entrepreneurs are distinguished from other founders by their intrinsic motivation, which may also set them apart from investors. They prefer to discuss the technology underlying their idea or product rather than the financials, or the reasons why their product ought to be used by everyone.
I am a driven entrepreneur who formerly worked at Google on innovations and growth mindset. I began working with corporate businesses and start-ups at Innoleaps and Startupbootcamp in 2018. Since then, I’ve been teaching entrepreneurs how to develop company models, innovate, and coach. I want to support enthusiastic healthcare start-ups in becoming more successful in my role as Managing Director at HealthInc. –Fleur Engelberts (Managing Director at HealthInc)
The founders of healthcare start-ups are intrinsically driven and passionate about enhancing patients’ quality of life. This updated digital health business model canvas can be used to determine early on whether the venture will succeed in the healthcare industry. The startup must take into account who will profit when and how. Is there a fair distribution of costs and rewards? Or does the innovation benefit the system as a whole but not the individual participants?
It is an excellent place to start if you want to learn more about the client and the environment in which they operate (together with other stakeholders). In order to define a workable, repeatable, and scalable business model for the healthcare industry, this is a crucial stage.
There are certain significant issues with the healthcare system in contemporary developing countries that further confuse patients. Selecting the right medical specialty and among specialists is one example of these challenges. Due to the lack of structural healthcare services, there is a need for guidance in selecting the best diagnosis and medication for patients with various symptoms or physical disabilities, patient education regarding self-treatment procedures, a reduction in the high cost of treatment and diagnosis, addressing tedious diagnostic and treatment procedures, and a lack of adequate strategic planning due to the absence of valuable information.
Strategies to iterate the process of services
Personalized Health Solutions
Customers need individualized health care services that take into account their needs, medical history, and numerous other personal characteristics.
Information on Request
For the management of a person’s health, appropriate access to health information is essential.
Patient Experience Benchmarks
By emphasizing treatment results, health systems are starting to embrace more patient-centric care metrics.
Remote Care and Counseling
Hospital, nursing home, and doctor office visits will become less common as a result of technology.
The ability to provide consultations remotely would be made possible by cooperation and investment among a grid of technicians, clinicians, hospitals, and physicians.
Remote Patient Monitoring (RPM)
Data analysis in the healthcare sector focuses on providing precise data-driven forecasts in real time to enable healthcare providers to respond more quickly to changing healthcare markets and environments.
Healthcare ecosystem decentralization
Decentralized structures, when implemented carefully, have the potential to improve the system’s effectiveness, accountability, and standard of care. In this case, the goal is to provide flexible care to a large geographic area without having to consolidate everything under one roof.
Augmented reality & virtual reality use cases in healthcare
In practice, both augmented reality (AR) and virtual reality (VR) medical applications are used to meet treatment objectives, improve patient outcomes, improve patients’ understanding of medical procedures, and train the next generation of doctors.
Businesses must have first begun adjusting to this reform, but they might not have anticipated the speed and strength of the transformation. A wave formed. One allowed for the separation of physical assets from one another across distance and time, resulting in digital platforms that allow for the interchange, matching, and pricing of various components, whether they be services, goods, or information.
The sharing economy revolution in healthcare delivery, combined with a monumental shift in focus from volume to value, has eroded traditional models, empowered individuals, and democratized entrepreneurship to enable crowdsourcing of information, individual skills, or assets. This all adds up to a favorable environment for the rapid development of such marketplaces.
- Strategic Values
- Directed healthcare system.
- Healthcare strategic planning
- Decreasing diagnosis cost (both patient and healthcare system)
- Designing structural healthcare services
- Healthcare System Values
- Improving accuracy of diagnosis and treatment
- Decreasing self-treatment
- Optimizing chemical medicine consuming
- Increasing traditional medicines consuming (herbal drug)
- Improving distribution and production of medicines
The Business Model Canvas (BMC) introduced key partners, key activities, key resources, customers, customer relationships, and channels as methods for achieving three primary values. Strategic, healthcare system, and micro end user values are the three main values. Managerial and governance values are examples of strategic values. One of the most important strategic benefits is its use in directing healthcare services. This usage can save money for patients, the government, and others. One of the most pressing issues in developing countries is the rise in self-treatment and the use of chemical medicine. This BMC can assist these countries’ healthcare systems in reducing the majority of inappropriate issues.