A preamble to introducing a new service or product is the associated marketing plan also known as the business development plan. Successfully introducing organized home health in the market involves painstaking research to understand the segment that will be receptive to the offer, the target population that will consume the service, and the positioning of the service. The positioning must consider internal imperatives and external competitive forces and cover strategic and tactical dimensions. This note presents initial thoughts and consideration to drive the first steps of the initiative.
Some critical questions that the plan should address are as follows:
• Definition of home health
• Demographic analysis of the market
• Manpower requirements and logistics
• Competitive climate
• Use of technology in health monitoring
• Financial analysis and breakeven
• Infrastructure requirements
• Roadmap and milestones
• Key differentiators (business model)
• Early internal alignment
Few challenges:
• Most reports on Indian Hospital sector are expensive
• The requirements vary dramatically from urban to rural and among age groups
• No canned reports on home health
• Need to understand regulatory and liability constraints
• Need to work with technology vendors to demonstrate a workable prototype as a part of the study
A suggested approach to convert the concept to a tangible plan is to put together a funded task force. The funded team should consist of two sets of individuals. One group will work with the internal verticals to assess the viability of services offered under the proposed umbrella. The other team should focus on the market dynamics culling primary and secondary market intelligence data. The team should be very familiar with the corporate vision, operational expectations, and financials.
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