Dentboard columbia univ jan 2014
 

Dentboard columbia univ jan 2014

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Dentboard columbia univ jan 2014 Dentboard columbia univ jan 2014 Presentation Transcript

  • 1 Revolutionizing Dental Practices Through Integrated Technologies Team 25: Bria Bailey, Carlos Barksdale, Chidinma Iwueke, Songya Pan, Marco Viti 28 Customers 10 buyers: DDS 17 Users: Office Managers 1
  • 4 2 Business Model Canvas Day 1 3 KP Key Partner KA Key Activities VP Value Proposition CR Customer CS Customer Segments •Dental Schools: access to future dentists; Motivation: familiarize students  Dental Schools with product before they go into industry, drive product adoption • For dental practices: • Simplicity Cloud-based • Efficiency • Insight interface • Usability  Single integrated ..through our integrated platform • • • • •Dental Offices: • Enterprise offices (offices with + Young Dentists ≥5 dentists in practice) • One practice dental with ≤15 years offices(offices with <5 dentists) ✚Age of Dental experience • Offices on the verge of growth  Professional •Professional Organizations Associations (ADA,DOMOA) endorsement of our product; Motivation: establish product credibility + Dental Research •Consumer Packaged Goods Institutions suppliersUniversity ✚ (P&G/J&J): sponsorship Motivation: recognize revenue Dental Clinics through corporate sponsorships in • Continuous product improvement/ software development Determine and maintain HIPAA compliance for our system (Analytics) • Establish strong relationships with key stakeholders – dentists, suppliers, organized dentistry, dental students • Ensuring customer retention for steady revenue stream Relationship Trusting Symbiotic Opportunistic Efficient communicationst Found out 1 steps to Get, Keep and Grow Identified Short Customers ✚ and Long Term Differentiate & Growth Prove ✚ Demystify & Support platform for front ✚ Access, Anytime ..forand back office dental consumer packaged goods Anywhere suppliers (toothpaste, tooth ✚Analytic driven functions brushes, floss, etc.) ✚HIPAA Compliant recommendations • Reach Insight through • ✚ Multi Office Advertisement data • Insight analytics Connection ...through our purchasing platform exchange for brand recognition •Dental Medical Suppliers : (DentSply, 3M, Premium) Motivation: take advantage clientele rolodex to drive consumer adoption in return for access to our software platform ...for dental medical suppliers: • Sales generation • Customer discovery ...with our practice management software KR Key Resource • • • C$ Cost Structure • • HumanNetwork Infrastructure ✚ capital (developers) Sales and marketing team ✚ Differentiated between Fixed & Variable ✚Young practice multiple locations Practice (≤15 yrs owners old) ✚Level of Technology capabilities ✚Owners= Decision Makers CH Channel • • • • • Human Capital-Developers, Customer Acquisition Partners- Analytics, suppliers, Money Practice (≤10 yrs •CP&G Companies ✓Single or ✚old) Suppliers Age •Dental Medical of Dental Direct Sales Publications ✚ Value Add Identified Long Colleagues Reseller Conferences Term Short Commercial Bankers ✚ Referrals & R$ Revenue Stream • • Subscription model (Traditional SaaS monthly fee model) for: ✚ Price persystem : $75 Long & Short • Integrated User Identified ✚ • Analytics Data Storage • Purchasing Commission from online patient payments Term 2
  • Business Model Canvas Day 5 ✚ Dental Business Consultants Professional Organizations (ADA,DOMOA) endorsement of our product  Ensure HIPAA compliance for our system  Strong relationships with key stakeholders  Customer retention for steady revenue stream Dental research institutions     No upfront costs No Contracts Customization ‘Layman’ Interface  Cross system compatibility  Practice & Competitor Analytics  Understandable Reports CR Customer Relationship GET  Continuous product improvement VP Value Proposition Free Demo Trail Conferences Magazines + Incentives KEEP ✚ Dental Schools KA Key Activities GROW KP Key Partner Incentives Product updates + Customer service +Customization Upsell Upgrades + Referrals CH Channel KR Key Resource Direct Sales Developers Marketing Money +Value Add Reseller C$Cost Structure Fixed Costs: Network infrastructure Variable Costs: Human capital (developers), Sales and marketing team CS Customer Segments Imminent Practice Owner Seeking PMT Cares about: - Costs - Usability Established Practice Owner Cares about: - Costs - Technology compatibility - Customer service - Easy transition - Insight into practice and competitors R$ Revenue Stream Subscriptions Transaction Fees + Usage Fee for Data 3
  • What We Thought… We also Learned… Analytics Want competitor data Usability Experience complex work flows Can’t read reports Need cross-system compatibility Want online treatment plan Operations Need better patient schedule management And Dentist time management Extent of CAPEX Customer Psychology Will change: costs, features, more current software Won’t change: legacy Need a lot of practice management education Varying cloud knowledge and purpose Need A LOT of support 4
  • What’s Next? Customer Segment Channels Get out of the building and speak to many more dentists Test Value Add Re-sller and Direct Sales hypothesis Revenue Streams Value Proposition Test PMT pricing structures and WTP for various features Test if VP solves customer needs after more discovery 5
  • APPENDIX 6
  • Business Model Canvas Day 1 KP Key Partner KA Key Activities VP Value Proposition CR Customer CS Customer Segments •Dental Schools: access to future dentists; Motivation: familiarize students with product before they go into industry, drive product adoption • For dental practices: • Simplicity • Efficiency • Insight • Usability ..through our integrated platform • • • • •Dental Offices: • Enterprise offices (offices with ≥5 dentists in practice) • One practice dental offices(offices with <5 dentists) • Offices on the verge of growth •Professional Organizations (ADA,DOMOA) endorsement of our product; Motivation: establish product credibility •Consumer Packaged Goods suppliers (P&G/J&J): sponsorship Motivation: recognize revenue through corporate sponsorships in exchange for brand recognition •Dental Medical Suppliers : (DentSply, 3M, Premium) Motivation: take advantage clientele rolodex to drive consumer adoption in return for access to our software platform Continuous product improvement/ software development • Determine and maintain HIPAA compliance for our system (Analytics) • Establish strong relationships with key stakeholders – dentists, suppliers, organized dentistry, dental students • Ensuring customer retention for steady revenue stream KR Key Resource • • Trusting Symbiotic Opportunistic Efficient communication •CP&G Companies •Dental Medical Suppliers ..for dental consumer packaged goods suppliers (toothpaste, tooth brushes, floss, etc.) • Reach • Advertisement • Insight ...through our purchasing platform ...for dental medical suppliers: • Sales generation • Customer discovery ...with our practice management software • Relationship CH Channel • • • • • Human Capital-Developers, Customer Acquisition Partners- Analytics, suppliers, Money Direct Sales Publications Colleagues Conferences Commercial Bankers C$ Cost Structure R$ Revenue Stream • • • Human capital (developers) Sales and marketing team • Subscription model (Traditional SaaS monthly fee model) for: • Integrated system • Analytics • Purchasing Commission from online patient payments 7
  • 2 Business Model Canvas Day 1 KP Key Partner KA Key Activities VP Value Proposition CR Customer CS Customer Segments •Dental Schools: access to future dentists; Motivation: familiarize students  Dental Schools with product before they go into industry, drive product adoption • For dental practices: • Simplicity Cloud-based • Efficiency • Insight interface • Usability  Single integrated ..through our integrated platform • • • • •Dental Offices: • Enterprise offices (offices with + Young Dentists ≥5 dentists in practice) • One practice dental with ≤15 years offices(offices with <5 dentists) experience • Offices on the verge of growth  Professional •Professional Organizations Associations (ADA,DOMOA) endorsement of our product; Motivation: establish product credibility • • + Dental Research •Consumer Packaged Goods Institutions suppliers (P&G/J&J): sponsorship Motivation: recognize revenue through corporate sponsorships in exchange for brand recognition •Dental Medical Suppliers : (DentSply, 3M, Premium) Motivation: take advantage clientele rolodex to drive consumer adoption in return for access to our software platform • Continuous product improvement/ software development Determine and maintain HIPAA compliance for our system (Analytics) Establish strong relationships with key stakeholders – dentists, suppliers, organized dentistry, dental students Ensuring customer retention for steady revenue stream • • HumanNetwork Infrastructure ✚ capital (developers) Sales and marketing team ✚ Differentiated between Fixed & Variable multiple locations CH Channel • • • • • Human Capital-Developers, Customer Acquisition Partners- Analytics, suppliers, Money C$ Cost Structure •CP&G Companies ✓Single or •Dental Medical Suppliers ...through our purchasing platform KR Key Resource • • Trusting Symbiotic Opportunistic Efficient communicationst Found out 1 steps to Get, Keep and Grow Customers platform for front ..forand back office dental consumer packaged goods suppliers (toothpaste, tooth functions brushes, floss, etc.) • Reach Insight through • Advertisement data • Insight analytics ...for dental medical suppliers: • Sales generation • Customer discovery ...with our practice management software • Relationship Direct Sales Publications Colleagues Conferences Commercial Bankers R$ Revenue Stream • • Subscription model (Traditional SaaS monthly fee model) for: ✚ Price persystem : $75 • Integrated User • Analytics • Purchasing Commission from online patient payments 8
  • 2 Business Model Canvas Day 1 3 KP Key Partner KA Key Activities VP Value Proposition CR Customer CS Customer Segments •Dental Schools: access to future dentists; Motivation: familiarize students  Dental Schools with product before they go into industry, drive product adoption • For dental practices: • Simplicity Cloud-based • Efficiency • Insight interface • Usability  Single integrated ..through our integrated platform • • • • •Dental Offices: • Enterprise offices (offices with + Young Dentists ≥5 dentists in practice) • One practice dental with ≤15 years offices(offices with <5 dentists) ✚Age of Dental experience • Offices on the verge of growth  Professional •Professional Organizations Associations (ADA,DOMOA) endorsement of our product; Motivation: establish product credibility • •Dental Medical Suppliers : (DentSply, 3M, Premium) Motivation: take advantage clientele rolodex to drive consumer adoption in return for access to our software platform Determine and maintain HIPAA compliance for our system (Analytics) • Establish strong relationships with key stakeholders – dentists, suppliers, organized dentistry, dental students • Ensuring customer retention for steady revenue stream + Dental Research •Consumer Packaged Goods Institutions suppliers (P&G/J&J): sponsorship Motivation: recognize revenue through corporate sponsorships in exchange for brand recognition Continuous product improvement/ software development KR Key Resource • • C$ Cost Structure • • HumanNetwork Infrastructure ✚ capital (developers) Sales and marketing team ✚ Differentiated between Fixed & Variable Practice (≤10 yrs •CP&G Companies old) ✓Single or •Dental Medical Suppliers ✚Young practice multiple locations owners ✚Level of Technology capabilities ✚Owners= Decision Makers CH Channel • • • • • Human Capital-Developers, Customer Acquisition Partners- Analytics, suppliers, Money Trusting Symbiotic Opportunistic Efficient communicationst Found out 1 steps to Get, Keep and Grow Identified Short Customers and Long Term Growth platform for front ✚ Access, Anytime ..forand back office dental consumer packaged goods Anywhere suppliers (toothpaste, tooth functions brushes, floss, etc.) ✚HIPAA Compliant • Reach Insight through • ✚ Multi Office Advertisement data • Insight analytics Connection ...through our purchasing platform ...for dental medical suppliers: • Sales generation • Customer discovery ...with our practice management software • Relationship Direct Sales Publications Identified Long Colleagues Conferences Term Short Commercial Bankers & R$ Revenue Stream • • Subscription model (Traditional SaaS monthly fee model) for: ✚ Price persystem : $75 Long & Short • Integrated User Identified • Analytics • Purchasing Commission from online patient payments Term 9
  • 4 2 Business Model Canvas Day 1 3 KP Key Partner KA Key Activities VP Value Proposition CR Customer CS Customer Segments •Dental Schools: access to future dentists; Motivation: familiarize students  Dental Schools with product before they go into industry, drive product adoption • For dental practices: • Simplicity Cloud-based • Efficiency • Insight interface • Usability  Single integrated ..through our integrated platform • • • • •Dental Offices: • Enterprise offices (offices with + Young Dentists ≥5 dentists in practice) • One practice dental with ≤15 years offices(offices with <5 dentists) ✚Age of Dental experience • Offices on the verge of growth  Professional •Professional Organizations Associations (ADA,DOMOA) endorsement of our product; Motivation: establish product credibility + Dental Research •Consumer Packaged Goods Institutions suppliersUniversity ✚ (P&G/J&J): sponsorship Motivation: recognize revenue Dental Clinics through corporate sponsorships in • Continuous product improvement/ software development Determine and maintain HIPAA compliance for our system (Analytics) • Establish strong relationships with key stakeholders – dentists, suppliers, organized dentistry, dental students • Ensuring customer retention for steady revenue stream Relationship Trusting Symbiotic Opportunistic Efficient communicationst Found out 1 steps to Get, Keep and Grow Identified Short Customers ✚ and Long Term Differentiate & Growth Prove ✚ Demystify & Support platform for front ✚ Access, Anytime ..forand back office dental consumer packaged goods Anywhere suppliers (toothpaste, tooth ✚Analytic driven functions brushes, floss, etc.) ✚HIPAA Compliant recommendations • Reach Insight through • ✚ Multi Office Advertisement data • Insight analytics Connection ...through our purchasing platform exchange for brand recognition •Dental Medical Suppliers : (DentSply, 3M, Premium) Motivation: take advantage clientele rolodex to drive consumer adoption in return for access to our software platform ...for dental medical suppliers: • Sales generation • Customer discovery ...with our practice management software KR Key Resource • • • C$ Cost Structure • • HumanNetwork Infrastructure ✚ capital (developers) Sales and marketing team ✚ Differentiated between Fixed & Variable ✚Young practice multiple locations Practice (≤15 yrs owners old) ✚Level of Technology capabilities ✚Owners= Decision Makers CH Channel • • • • • Human Capital-Developers, Customer Acquisition Partners- Analytics, suppliers, Money Practice (≤10 yrs •CP&G Companies ✓Single or ✚old) Suppliers Age •Dental Medical of Dental Direct Sales Publications ✚ Value Add Identified Long Colleagues Reseller Conferences Term Short Commercial Bankers ✚ Referrals & R$ Revenue Stream • • Subscription model (Traditional SaaS monthly fee model) for: ✚ Price persystem : $75 Long & Short • Integrated User Identified ✚ • Analytics Data Storage • Purchasing Commission from online patient payments Term 10
  • Product Market Fit Value Proposition Customer Segment Needs Cloud-based interface practice management system Improve information flow between locations Access anytime anywhere Access to information anywhere Low switching costs Simple system transition Improved operation Insight Customer acquisition and retention Single integrated platform for front and back office functions Software integration HIPAA Compliant Security of patient data Customer need not fully fulfilled by current VP based on customer discovery
  • Competitive Landscape indicates opportunity for one-stop solution Scheduling, Billing, Insurance Appointment Reminders Patient Portal Social Media, Digital Marketing Electronic Health Record (EHR) Analytics, BI Purchasing, Supply Chain Direct Reimbursement Local Store Marketing Human Capital: Recruiting/Training Full-functionality Partial / incomplete functionality
  • Dentistry Market Size $120 bn Dentistry Characteristics and Market Growth Total Addressable Market US Market Dental Spend - $120bn $30 bn Served Available Market 20% Administrative costs - $30bn $1-3 bn Target Market: Practice Management- $3bn • Highly segmented market • Market is comprised of single and multi location entities • Multi-location entities are: • Large • Growing fast • Results driven • Embracing innovation • Embracing the cloud • Consumer and insurance dental spend is increasing Growth of Multi-location Units ≥2 units growth approx. 61% by 2020
  • Revenue Model Strategy Dentboard will utilize 3 revenue models and value based pricing tactic Revenue Models Subscription-SaaS Short Term 178,000 locations Transaction fees 30% TM 1.5% TM We charge a monthly fee of $75 per user assuming 30% of the market is young dentist 6 users per loc. $960M $288M $14M $72M $3.6M We take a 1.0% commission on online patient payments. $48 Billion Patient Payments Purchasing Long Term TM $22 Billion Goods & Services 50% pay online $240M We take 30% of the assumed 20% savings achieved on purchasing / supply chain 20% savings $1.5B $450M $22M