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substantial cost, because the company may use already existing technology to support
this product launch. Team Edition would basically be used in the same manner as
when a patient consults with a physician online, and can be easily rolled into the
service package that is already established.
3. Which of the new market opportunities did you see as most promising?
American Well's market consists of consumers and businesses who prefer to utilize
the internet and electronic devices for communication, information storage, and
organization. Patients and physicians have become more comfortable communicating
electronically through e-mail and text or secured messaging. Online communication
creates efficient ways of reducing the number of patient visits to physicians and
decreasing the volume of phone calls to physicians' offices. Specific entities I would
target would be physicians, insurance companies, and patients, especially increasing
the transfer of diagnostic information between all three entities. Between all three, the
role of the insurance companies is substantially intriguing; especially from a market
never tapped before, they may act as gatherers of patients and offer attractive
insurance which will help reduce costs, allowing access of its resources to nonmembers at a premium may result in increased revenue.
4. If you were in the shoes of American Well Management, would you pursue
any of the next-generation options (products or markets) in 2010, or would
you just focus on the core platform with the core target market? Explain your
decision.
Presently there is increasing demand for online communication between physician and
patients. I recommend the go ahead of the launch of Team Edition because it is more of
a natural extension to the existing product, and would eliminate some of the largest
frustrations that the current system provides. With the introduction Team Edition
American Well can drastically cut down wait times and turn-around times for
consultations with specialists and physicians. Immediate attention / facilities could be
provided to the people in need, specialist advice and treatment could be provided to
the people in remote areas where the physical treatment by the specialist is not
possible. Rolling out Team Edition will not require extensive resources as it has already
required technology through the existing system. The company should approach the
already identified customer base for online care. These targeted customers will
definitely be interested in the new Team Edition. It appears that sustaining the core
platform with Team edition will be the best option all around.