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t2.pptxMarket Analysis Speak IT
Group 2
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Path
Help EHRs develop their mobile version(APP) with our audio-to-action technology.
Selection
We select cooperators based on three factors:
Cloud based
Usability-oriented
Feasibility
Product
Focus on data security
Make Instructions for customers
Provide 24/7 help line
Visualization work
Price
Set lower price
Promotion
Tie-in Sale: APP Bundled with Speak IT
"burnout", "healthcare": Target Marketing From Tweets
Place
Focus on northeast region of America
Top 10
Estimated the business value of Specialties in the U.S. and select the top 10 as our target.
Time
Time spent on editing EHR
Age
Age distribution
Type of Work
Repetitive vs Creative
Data-based vs Interaction-based
Recommendations
Cooperators
Market Strategy
Target Clients
所有的recommendation最好和market strategy一致
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It is an important step
The explanation of why recommendations are important
Help developing App instead of add-ons has multiple benefits: shorter decision process, no need to find end-users on our own (turn most competent competitors into allies) and expand quicker.
For the product, we found similar products and summarized their advantages, thus leading to a product-improving plan.
For the price, lower pricing strategy enables the rapid market penetration.
For the promotion, firstly, bundling with such EHR-based Apps will rapidly spread the popularity of our brand. Secondly, target marketing works since we can easily obtain tweets from twitter.
For the place, we should mainly focus on the northeast of the USA, since the doctors' burden here are more severe.
Wade+Haidong+WangHao
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Cooperator
Path
Help EHRs develop their mobile version(APP) with our audio-to-action technology.
Selection
We select cooperators based on three factors:
Cloud based
Usability-oriented
Feasibility
Wade+Haidong+WangHao
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Our selection of EHR Cooperators
Cooperators
We select cooperators based on three factors:
Cloud based
Usability-oriented
Feasibility
A successful example of cooperation is shown on left, nuance merge their audit-to-action tech into Athenahealth's EHR system, so they growth with athenahealth.
An example of cooperation by Nuance and Athenahealth
Cloud based, usability-oriented vendors
(Target)
Giant EHRs(Hard to cooperate)
Has their own tech(No need to cooperate)
Chengyuan
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Market Strategy
Product
Focus on data security
Make Instructions for customers
Provide 24/7 help line
Visualization work
Price
Set lower price
Promotion
Tie-in Sale: APP Bundled with Speak IT
"burnout", "healthcare": Target Marketing From Tweets
Place
Focus on northeast region of America
Wade+Haidong+WangHao
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We find the top 10 competitors in AI health care field
Market Strategy
1. Most of companies with health care software development are located on the eastern America while there is a huge market in the northwest areas.
2. Based on the feedback of 10 listed companies, the product will be competitive if it is easy to use. Also, people care a lot about the price.
The Distribution of Pros & Cons of Competitors
Sources: https://www.softwaretestinghelp.com/healthcare-software-development-companies/
The Distribution of competitors
Kevin+Wade
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图例改清楚一点
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Market Strategy
Concentrate on Southern part of the country
Pay more attention on big cities in mid-west
Orthopedic Surgery Case
Target Clients
Top 10
Estimated the business value of Specialties in the U.S. and select the top 10 as our target.
Time
Time spent on editing EHR
Age
Age distribution
Type of Work
Repetitive vs Creative
Data-based vs Interaction-based
Wade+Haidong+WangHao
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Top 10 highest estimated market share
Target Clients
We found the top 10 specialties with highest estimated market size.
We used the average salary in the specialty times total number of physicians to estimate the market size.
Jingwang+Haidong
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更多因素（Excel）
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Target Clients
We found Hematology and Oncology, Internal Medicine, Cardiovascular Disease, and Orthopedic Surgery have significant burden on editing EHR.
A higher burden of editing EHR would be seen as having more probability using our product.
The Distribution of time spent on EHR for top 10 most lucrative specialties
Jingwang+Haidong
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更多因素（Excel）
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The Distribution of ages for top 10 most lucrative specialties
Target Clients
Emergency Medicine, General Surgery, Hematology and Oncology, Internal Medicine and Obstetrics & Gynecology have younger age distribution which means doctors are easier to adopt Speak IT.
Sources: https://www.aamc.org/data-reports/workforce/interactive-data/active-physicians-age-and-specialty-2019
The distribution of ages
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The Rank of Top 10 specialties from the aspect of "type of work"
Target Clients
We consider which kind of specialties are facing more burnout and which kind of specialties may efficiently reduce the burnout by using our product:
More repetitive work means easier to adopt the Speak IT;
More data-based work means higher frequency to use Speak IT;
Thus, we focus on the left bottom and do the rank.
Sources: https://medicalfuturist.com/towards-creativity-in-healthcare-the-impact-of-digital-technologies-on-medical-specialties-in-an-infographic/
| Repetitive Level | Data-based Level | ||
| 1 | Radiology and Diagnostic Radiology | Anesthesiology | 1 |
| 2 | Obstetrics and Gynecology | Radiology and Diagnostic Radiology | 2 |
| 2 | Cardiovascular Disease | Orthopedic Surgery | 3 |
| 4 | Anesthesiology | General Surgery | 3 |
| 5 | Orthopedic Surgery | Emergency Medicine | 5 |
| 6 | General Surgery | Internal Medicine | 6 |
| 7 | Internal Medicine | Obstetrics and Gynecology | 7 |
| 8 | Psychiatry | Hematology and Oncology | 8 |
| 9 | Emergency Medicine | Cardiovascular Disease | 9 |
| 10 | Hematology and Oncology | Psychiatry | 10 |
The distribution of ages
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The Recommendation of Target Specialty
After evaluating by different factors, we finally select 5 specialties with both high customer demand and business values.
Finally, we believe Internal Medicine, Anesthesiology, Emergency Medicine, Obstetrics & Gynecology and Radiology & Diagnostic Radiology are the top 5 choices.
The Evaluation of Specialties
The distribution of ages
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Reference
• https://www.businessinsider.com/map-of-cancer-rates-in-the-united-states-2017-5
• https://www.cdc.gov/heartdisease/facts.htm
• https://www.cdc.gov/heartdisease/facts.htm
• https://www.ncbi.nlm.nih.gov/pmc/articles/PMC6108356/
• https://healthcaresalaryworld.com/what-is-general-surgeon-salary/
• https://www.bls.gov/oes/current/oes292034.htm
• https://www.annemergmed.com/article/S0196-0644%2822%2900186-X/fulltext
• https://www.bls.gov/oes/current/oes291211.htm
• https://www.softwaretestinghelp.com/healthcare-software-development-companies/
• https://www.kevinmd.com/2022/04/how-much-time-do-physicians-spend-in-the-ehr.html
Thank You!
Group 2
