Name Olivia Lee NetID olee271 Group Number: 120 Website Link: http://infosys1102014fcgroup120.blogspot.co.nz/ Tutorial Details Tutor: Day: Time: Kayur Ramson Monday 2pm Time Spent on Assignment: 26 hours Word Count: 1798
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2 THE MYCARE WATCH INTRODUCTION Every day emergency care workers are ordered to retrieve people who are in critical medical conditions. However, the inability of doctors and emergency care workers to perform minor procedures inside the ambulance is inefficient. Furthermore, retrieving patient information within a hospital requires nurses to physically find files for doctors to read, increasing the possibility of misread information due to messy handwriting. The MYCARE watch will provide a new way for doctors and medical professionals to obtain patient files. It will be a wrist-watch with an ejectable sim-card that holds patients' medical history and information, identification and emergency contact details. With any computer access, patient information will be viewable by anyone anywhere, solving problems like the emergency care workers inability to treat patients. Nurses will no longer need to find patient files as well, benefiting the hospital's emergency care ward overall. 3. BUSINESS SECTION 3.1 Vision A world where everyone has an increased chance at survival 3.2 Industry Analysis: Health Technology Industry Industry: Health Technology Industry Force: High/Low: Justification: Buyer power: Low The buyer power is low in the health technology industry due to a limited range of products consumers can make in the industry. The Medical Technology Association of New Zealand (n.d) states that the medical technology industry
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3 "supplies approximately 95 percent of all non- pharmaceutical products used in both the public and private healthcare facilities in New Zealand". Also, the buyer power is low in this industry as there are no watches which serve this function within the industry yet. Supplier power: High As specific raw materials will need to be acquired to create the MYCARE watch, supplier power will be high. There will be a limited amount of suppliers who will be able to supply the goods needed to manufacture the product. Threat of new entrants: Low There is a huge price barrier preventing people from entering this industry. Majority of health technology industry companies require government funding due to the need for funding for the development of new health technology. The Medical Technology Association of New Zealand (n.d) had stated that "$67 million in Research and Development in 2013" had been invested into the industry itself. It is hard to receive funding however as stated by The Medical Technology Association of New Zealand (2010) stated This funding is particularly targeted at medium to large intensive firms which can show that their activities result in wider benefits to New Zealand. (p.26) Threat of substitutes: Low Threat of substitutes will be low as the only possible substitute for the MYCARE watch is the
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4 physical files of patients held in hospitals Rivalry among existing competitors: Low Rivalry among existing competitors is low as there is no product within the health technology industry which offers the same functionalities as the MYCARE watch Overall attractiveness of the industry: The industry is quite attractive. The introduction of the MYCARE watch into the industry will give a first-mover advantage whilst entering the market. It also appears attractive in the long term as The Medical Technology Association of New Zealand (n.d) predicts that there will be a "revenue growth of between 14-16 percent per annum." 3.3 Customers and Thei r Needs Initially, this product will be aimed towards those susceptible to injury such as the elderly or the mentally disabled. People suffering from mental illnesses or have lost consciousness need a way to identify themselves and contact family members for assistance. All patients within the emergency ward also require some certainty of not being prescribed with wrong medicines from misread information or incorrect patient's file at hand. Jeremy Dale, Judith Green, Fiona Reid and Edward Glucksman (1995) stated "The development of a prospective method for identifying patients attending accident and emergency with problems... was a necessary step towards implementing service developments." (p.423) 3.4 The Product and Service The MYCARE watch will satisfy the customer's needs as it will contain the patients' medical history/information as well as a form of identity and emergency contacts. Only doctors with special access can alter the information within the sim-card to prevent the possibility of recording errors. By storing information via a computer, the chances of doctors misreading information will be eliminated since physically writing down patient information is unnecessary.
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5 An ejectable sim-card will also solve the issue of transferring information between hospitals for patient information. This would benefit especially in the long term as doctors can easily retrieve patient information from overseas. 3.5 Suppliers and Partners SUPPLIERS: Phillips Healthcare ltd. Phillips Healthcare ltd is well-known for their global contribution towards advanced healthcare technology. They offer supplies for almost all technology and are always attempting to improve their material. Global Healthcare Technology (2010) states "Philips Healthcare offers a patient-first approach to technology that makes more sense for todays clinical care environments - an approach based on elegant system design that matches advanced technology to the changing needs of clinicians and patients" Shamrock Industries Shamrock Industries is well-known for their contributions in the medical engineering field. It will aid the start-up company with the development of the MYCARE watch. Shamrock Industries (2010) states, that "Technology businesses across the Medical, Electronics...trust and rely on our specialised precision engineering skills for both components and equipment". This proves the advantage of having Shamrock Industries as one of the suppliers for the company as high quality equipment and components are required. PARTNERS GE Healthcare Known to be one of the largest health technology industries in the world, the partnership with GE healthcare will improve the companys marketing strategy and the technology with an insightful exchange of knowledge.
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6 GE Healthcare (2014) - "GE Healthcares IT Services are designed to connect productivity with care by increasing usability, enhancing performance, and optimizing a solutions return on investment" The products promotion will also become easier and the companys leading professionals will develop technology in a more efficient way. Various New Zealand Hospitals The partnership with various New Zealand hospitals will allow easy retrieval of the information stored in the watch. This will also increase the promotion of the product. 3.6 Strategy: Broad Differenti ation Strategy Initially the product will follow a focused high cost strategy. It will be high cost as the advanced technology harnessed by the device will be quite expensive. At first, it will be aimed at a narrow market: for people most susceptible to injury with need of emergency care. In the long term, it will become a broad differentiation strategy. The targeted market will become broader to increase efficiency amongst all New Zealanders, giving everyone a higher chance to survive. It will remain high cost due to the required technology to develop the watch. The overall strategy is therefore Broad Differentiation Strategy. 3.7 Value Chain Activity: Product and Technol ogy Development The most important value chain activity for this business is Product and Technology Development as the watch must be manufactured with the most advanced technology. To fulfil the company's vision, the manufacturer must be trusted to reduce errors from technological difficulties regarding the watch. Because such advanced technology is needed, the cost will remain quite expensive.
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7 3.8 Business Processes 3.8.1. PRODUCT PRODUCTI ON/MANUFACTURING PROCESS - To order a MYCARE watch, a doctor/medical professional will request it online. Once the transaction has been successfully processed, raw materials will be acquired by various suppliers and sent to a manufacturing warehouse. After assembling the watch, it will be tested. If it is faulty, it will be fixed by a technician or trashed otherwise. Non-faulty and repaired products will then be packaged and sent to administration for programming of data specific to each customer.
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8 3.8.2. SALES PREPERATI ON PROCESS To prepare the MYCARE watch for the customer, administration will first receive it from the manufacturing warehouse where the consumers medical information are retrieved by individuals via partner hospitals. This information is saved into the sim-card to ensure accuracy which will then be double checked by nurses at partnered hospitals. If there is an error, the companys employees will request the correct information from the hospitals, repeating the process. Accurate information will be checked again by an employee within the administrative department, and then shipped to the customer.
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9 3.9 Functionalities 3.9.1. PRODUCT PRODUCTI ON/MANUFACTURING PROCESS Order is sent through and transaction is made The product is tested for errors/faults 3.9.2. SALES PREPARATION PROCESS Medical information regarding patient is recieved from hospitals Product is repackaged and shipped to customer 3.10 Systems
3.10. 1. INFORMATI ON RETRIEVAL SYSTEM For the MYCARE watch to contain information about each individual customer in the sim-card, their medical details must be retrieved from a hospital. During this process, the information must be confidential to protect the patients privacy. This system increases the patients chance of survival by storing all their medical information in the watchs sim-card. 3.10. 2. ONLINE PURCHASING SYSTEM - This system will allow customers to order/purchase the product. This requires the customers approval to obtain the patient's information, demonstrating interaction during the online purchase. The administration will also be provided with basic information about the customer for retrieving information later on. 3.10. 3. PRODUCT ANALYSIS SYSTEM - As doctors will rely on the MYCARE watch for storing patient information accurately, this product analysis system is important in fulfilling the companys vision. In fatal situations, the product must function to give patients an increased opportunity to survive. Information must also be checked for errors in the sales preparation process before sending it to the customer. This ensures accurate information and minimises future problems with patient information in the hospital.
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10 3.11. Summary Table: Value Chain to Systems
Value Chain Activity Processes Functionalities Specific Information System(s) Broad Information System(s)
Technology Development 1. Product production process 1. Order is sent through and transaction is made 2. The product is tested for errors or faults
1. Online purchasing system 2. Product analysis system 3. Material purchase system
1. Transaction Processing System 2. Supply Chain management system 3. Supply Chain management system 2. Sales preparation process 1. Medical information is recieved from hospitals about the patient 2. Product is repackaged and shipped to customer
1. Information retrieval system 2. Product packaging system 1. Collaboration systems 2. Supply Chain management system
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11 CONCLUSION In conclusion, the health technology industry is attractive as the company will have a first- mover advantage. The generic short-term strategy for the company will be focused high cost, though in the long term, the aimed market will become a broad differentiation strategy. The cost will remain high as the value chain activity for the company will be product and technology development, meaning the making of the watch will require the most advanced and high quality materials. Information systems delivers value as with collaboration systems, productivity can be increased while maintaining the products quality. This is evident within the product analysis system in which the partner hospital will help to check for errors in the product. REFERENCES
Medical Technology Association of New Zealand (n.d), About MTANZ, Retrieved from http://mtanz.org.nz/MTANZ/About-MTANZ-6368.htm
Global Healthcare Technology (2010), Phillips Health Care Technology Ltd, retrieved from http://www.healthtechglobal.com/suppliers/patient-monitoring/philips- healthcare-ltd.php
Shamrock Industries (2010), Home, retrieved from http://www.shamrock.co.nz/
GE Healthcare (2014), Healthcare IT services, retrieved from http://www3.gehealthcare.com/en/Services/Healthcare_IT_Services
The Medical Technology Association of New Zealand (2010), Medical Technology; A guide to Market Access in New Zealand, p. 26, http://mtanz.org.nz/filescont/MTANZ%20A%20guide%20to%20market%20access%2 0FINAL.pdf
Jeremy Dale, Judith Green, Fiona Reid and Edward Glucksman (1995), General practice; Primary Care in the accident and emergency department: 1. Prospective identification of patients, p.423, http://www.ncbi.nlm.nih.gov/pmc/articles/PMC2550493/pdf/bmj00605-0027.pdf