American Well: The Doctor Will E-See You

American Well: The Doctor will e-see you

Marketing-I

1. Promising market opportunities

Following are the new market opportunities which are promising:

* Insurance

It can cater to a large pool of customers & also offer cost effective solutions to everyone ranging from doctors, customers, insurance companies, employers, etc.

* Health consulting

Consulting from home would provide privacy & convenience to the patients. American Well system can provide the doctors flexibility to operate without the need to maintain staff, infrastructure etc.

* Delivery Network /health care Chains

This platform has the potential in linking real time excess capacity with real time excess demand. They can provide better customer service, boost revenues & also offer cost efficiencies in health care.

* Online Consulting

This platform can also be used for offering different types of online consulting like Religious, legal advising, accounting services, etc.

● Expansion

Potential customers in Australia, Germany & UK have expressed interest in American Well online care solutions and it can explore these territories by tailoring its services to the need of these markets

The most promising opportunity of all the above is of Insurance market due to the following reasons:

a. Insurance companies can provide access to a large pool of patients & doctors. Insurance companies also have internal resources which they can commit to encourage physicians & patients to use online care.

b. Health insurance companies were already financially strong & represented a lucrative customer channel.

c. One of the main value propositions to health insurance companies is significant savings. This will be possible due to less costly medical attention because of the early treatment of medical conditions.

d. Immediately after President Obama assumed office, there was no clarity about the reforms in the Health care system that he had promised before the elections. This resulted in the health insurance companies freezing their spending.

e. They can also open their doors to non members. They can provide online consultation to anybody willing to pay out of pocket.

f. Initially, insurance companies were viewed as being primarily driven by profit. Online care facility will provide an opportunity to these companies to improve their image & build goodwill with their members. This can be another reason why Health insurance can be a promising market.

2. Five 5 C's Analysis

Analyzing Customers

* Patients - They need timely availability of physicians, quality service at affordable price.

* Doctors - They need a cost effective solution to manage their load of patients.

* Insurance Companies - They have a requirement to provide consultation at an effective cost.

* Employers - A solution is needed which prevents absenteeism & provides employee satisfaction.

Analyzing Context

* Demographic Environment - Online service care will enable the doctors to provide consultation beyond the current geographical boundaries.

* Economic Environment - Economic Recession in the US has decreased the purchasing power of its citizens.

* Legal Environment - Online care service is compatible to HIPAA which addresses privacy & security risks stemming from increasing use of electronic channels to transmit patient information.

* Technological Environment - This technology can be extended to provide services at homes & workplaces. Instant messaging & video conferencing can be used to facilitate the interaction between doctors & patients.

Analyzing Company

* This platform has the potential in linking real time excess capacity with real time excess demand.

* Patients have the flexibility to choose the specialists as per their requirements.

Analyzing Collaborators & Complementers

* Insurance companies can help American Well to increase its market share.

* American well will reduce the cost of insurance, provide employment satisfaction & also improve the productivity of the employees.

Analyzing Competitors

* Offline health service providers are one of the biggest competitors of American Well.

* Other competitors are Relay Health, Medfusion, Teladoc & Cisco Telepresence.

Strengths, Weaknesses, Opportunities, and Threat (SWOT)

Strengths

1.) Intellectual Property -

o Possesses proprietary intellectual property which could act as an entry barrier for other players trying to enter in this field

2.) B2B Company -

o Like franchise model can target insurance companies

o Customers (insurance companies) could serve the company by providing access to large pools of patients and doctors. Insurance companies have their internal resources which they can assign to the marketing efforts needed to support physicians and patients to use online care. Also, the financial strength of insurance companies presents a more lucrative customer channel than individual patients.

3.) Pricing -

o Online Care consultations costs very less than traditional methods for both consumers and insurance companies. This value proposition is a win-win scenario for all four parties - patients, physicians, insurance companies, and American Well - involved. Patients, members and non-members, pay anywhere from $45 - $75 per consultation.

Weaknesses

1.) Lack