Health ventures my medication report 1

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Health ventures my medication report 1

  1. 1. MyMedication Health Ventures
  2. 2. Problem Statement Key Stats on Medication Adherence in the USA (PhRMA 2011) o 32 million Americans use three or more medicines daily o 75% of adults are non-adherent in one or more ways o The economic impact of non-adherence is estimated to cost $100 billion annually Patients simply forget to take medication People are lost regarding what to take, when and in what doses. Current solutions are focused on the provider to pharmacy prescription flow with limited options for patients
  3. 3. SolutionA e-prescription platform that automates the prescription information flow from provider all the way to the patientKey features• Prescription flows automatically from provider to pharmacy to patients smartphone/tablet• Includes automatic reminders (for e.g., SMS)• Includes drug interaction check• Has medication barcode recognition
  4. 4. Potential Customers1. Patients who currently take or will take medications in the future2. Patients who take many different medications on a regular basis and have no care managers3. Parents who would like to keep track of all their kids medications4. Caregivers who would like to keep track of their patients medications
  5. 5. Value Proposition1. Enable the patient to keep track of what medication, what time and in what doses one should take.2. Send notifications to remind the patient to take the medication.3. Warn patients about potential drug interactions with other OTC medications they take.4. Identify drugs from their barcode, which helps patients with sight-problems.
  6. 6. Hypothesis1. Patients have forgotten at least one dose of the prescribed medication in the past2. They think it is important to stick to a schedule prescribed and will value an automatic reminder if one was available3. They are concerned about drug interactions (with other medications or over the counter medication that they may be taking) and will value an automatic drug interaction check
  7. 7. Test MethodsQualitative: Direct interviews with friends and family to understand if product/service is valuableQuantitative: Formal survey with friends, family and target customers (people with chronic conditions)
  8. 8. Hypothesis Testing - SurveysTotal responses: 64
  9. 9. Survey Results - Raw Data
  10. 10. Survey Results - continuedInteresting observation about people being more concerned when taking care of others
  11. 11. Demographic InformationWe polled people across different age groups and smartphone/tablet usage
  12. 12. Survey Results With Filters1. People who took medication recently and find the reminder valuable (4 or 5) among people who took medication recently and use a smartphone or tablet: 62% (23/37)2. Percentage of people who find the interaction check valuable (4 or 5) among people who took medication recently and use a smartphone or tablet: 73% (27/37).3. Percentage of people who find the reminder for others’ medication valuable (4 or 5) among people who take care of others and use a smartphone or tablet: 55% (6/11)
  13. 13. Total Available Market SizeWe considered two major markets: USA and UK for its size USA Market UK Market Total US Total UK population population ~310 million ~51 million Prescription drug users Prescription drug users ~149 million ~20 million Prescription drug users Prescription drug users with smartphone with smartphone ~57 million ~9 million Target Available Market Target Available Market ~31-41 million ~5.5-7 million
  14. 14. Insights• Potential Market was significantly limited by the number of people taking medication that also use a smartphone and are comfortable with technology• Given demographic trends, our potential market will expand rapidly as technology savvy users grow older and need more medication (or take care of people who do)
  15. 15. Next Steps1. Develop platform components2. Continue to refine customer hypothesis3. Test other aspects of business canvas

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