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CaParkLee
- 1. LEOR CAPUNITAN, CHRIS PARK, THOMAS LEE
- 2. The Problem Hospitals are discharging patients early Readmission rates increase, which leads to penalties Readmission rates show the quality of care at hospital Readmission creates unexpected costs for patients Elderly are most affected Failure to take medication leads to another hospital visit
- 3. Our Solution Mobile Healthcare Application • GaugeWear to measure core body temperature, blood pressure and heart rate • Remote coaching with patients • Incentivize with coupons/discounts Goals • Increase medicine intake by 35% for patients • Decrease readmission rate of elderly by 10% • Decrease penalty rates to -0.5%
- 4. Market Analysis Industry Overview • More than 2,000 mobile health applications in the market • Expected revenue of $26 billion by the end of 2017 for mobile health applications • There are currently 272 medication reminder applications in the market • Main competitors are: Medisafe, Mango Health, and Pillpack Target Market: Elderly patients, and hospitals who face readmission penalties • 20-26% of elderly patients are hospitalized within 30 days of discharge • 14% increase of readmission rates
- 5. Competitive Analysis Manage Medications Sends alerts Online coaching Tracks real time vitals of patients Refill prescriptions Offers discounts/Rewards
- 6. How It Works Doctor enters patient info Patient records medicine taken Doctor monitors patient
- 8. Financial Analysis Year 1 Year 2 Year 3 Total Gross Income App Subscription $200,000.00 $1,000,000.00 $1,800,000.00 Total Income $200,000.00 $1,000,000.00 $1,800,000.00 $3,000,000.00 Expenses Advertising on Billboards 11,000.00$ 11,000.00$ 11,000.00$ Advertising on Health magazine 980.00$ 980.00$ 980.00$ Salaries for Developers 129,989.00$ 100,289.00$ 100,289.00$ Salaries for Marketing personnel 52,815.00$ 52,815.00$ 52,815.00$ Salaries for ourselves 62,780.00$ 313,900.00$ 565,020.00$ GaugeWear Technology 800.00$ 840.00$ 882.00$ Apple server and infrastructure 2,050.00$ 2,054.00$ 2,054.00$ Developer Licenses for Apple 99.00$ 99.00$ 99.00$ Total Expenses $260,513 $481,977 $733,139 $1,475,629 Net Income ($60,512.55) $518,022.96 $1,066,860.96 $1,524,371.00 •CaParkLee will generate approximately $1.5 million in profit over the first 3 years
- 9. Implementation • Create a relationship with GaugeWear • Hire developers to create the application • Test the application to a few hospitals who face penalty problems • Establish relationships with hospitals and insurance companies • Deployment in North America After secured funding, we will:
- 10. Use Cases Glenn Dawson • Age: 30 years old • Interests: Rock- climbing, Hiking, Reading, Sleeping • Qualities: Stubborn, Type-A, Hardworking Karla Kim • Age: 75 years old • Interests: Knitting, Bingo, Watching Jeopardy, Couponing • Qualities: Forgetful, Compassionate, Frugal
- 11. Questions
- 13. Data Model
- 14. Process Model
- 16. Detailed Financial Analysis & Assumptions Year 1 Year 2 Year 3 Year 4 Year 5 Gross Income App Subscription $200,000.00 $1,000,000.00 $1,800,000.00 $2,600,000.00 $3,400,000.00 Total Income $200,000.00 $1,000,000.00 $1,800,000.00 $2,600,000.00 $3,400,000.00 Expenses Advertising on Billboards $11,000 $11,000 $11,000 $11,000 $11,000 Advertising on Health magazine $980 $980 $980 $980 $980 Salaries for Developers $129,989 $100,289 $100,289 $100,289 $100,289 Salaries for Marketing personnel $52,815 $52,815 $52,815 $52,815 $52,815 Salaries for ourselves $62,780 $313,900 $565,020 $816,140 $1,067,260 GaugeWear Technology $800 $840 $882 $926 $972 Apple server and infrastructure $2,050 $2,054 $2,054 $2,054 $2,054 Developer Licenses for Apple $99 $99 $99 $99 $99 Total Expenses $260,513 $481,977 $733,139 $984,303 $1,235,469 Net Income ($60,512.55) $518,022.96 $1,066,860.96 $1,615,696.86 $2,164,530.56
- 17. Prototype of Doctors View
- 18. Prototype of Patients View
Editor's Notes
- App Subscriptions: We assume in year 1: 200 hospitals will subscribe. In year 2: 1000 hospitals will subscribe. In year 3: 1800 hospitals will subscribe. In year 4: 2600 will subscribe. In year 5: 3400 will subscribe. This is based on 3400 hospitals facing readmission penalties in 2015. (This is based on 800 hospitals performing well; so starting in year one 800 hospitals will be added to subscription, until we meet the number of 3400 hospitals using this app.) Source:http://www.modernhealthcare.com/article/20150803/NEWS/150809981 Advertising on Billboards: $11,000 for four weeks per year based on price from Boston. Source:http://grasshopper.com/blog/billboards-for-small-businesses-7-reasons-to-think-twice/ Advertising on Health and Fitness magazine: $980 for a 1/2 page horizontal. Source: http://www.healthfitness.us/images/HAFM_RateSheet.pdf Salaries for 2 mobile application developer (22.96 hourly) Year one- 840 hours of development for the app. Maintenance will only be done by one developer and they will 4368 Hours per year of maintenance(every other Friday of the Month).Source: http://www.payscale.com/research/US/Job=Mobile_Applications_Developer/Salary Salary for marketing specialist: (31 dollars per hour) 35 hours per week = 35 hours*52 week=1820 *$31 *.0639 (tax)= 3605.23 =56420-3605.23= $52,815 Source: http://www.payscale.com/research/US/Job=Mobile_Applications_Developer/Salary Taxes: 6.39% Source: https://beta.phila.gov/services/payments-assistance-taxes/business-taxes/business-income-receipts-tax-birt/ Salaries for ourselves: 25 percent of gross income for each year plus tax. Apple store Fee: $99 dollars Source: http://www.techrepublic.com/blog/software-engineer/app-store-fees-percentages-and-payouts-what-developers-need-to-know/ Server: $2000 for a small enterprise Source: http://www.comentum.com/mobile-app-development-cost.html