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Deloitte Case Presentation
- 2. ee 2 Target rural hospitals through direct sales Attend health IT conferences to reach key market players Introduce weight management to corporations with in house clinics Sway Health should target high-need prospects for rapid customer acquisition with the long term goal of higher profile sales By implementing our recommendations Sway Health could generate revenues of 62 million by year five
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- 4. 4 0 5 10 15 20 25 30 35 Rural Urban Physicians per 10,000 people Streamlined Process Eases Resource Strain Virtual Offering Addresses Geographical Challenges - Rural patients face longer travel times and limited transportation options These benefits will give hospitals the time and methods to consult patients, increasing their success and revenues. Product Offering Caters to Patients - Rural residents have higher tobacco use Sources: CDC Sources: APA.org
- 5. 5 Hospitals’ Purchasing Decisions Source: thinkinsightsGOOGLE Competitive edge the average sales staff turnover per year: with of firms reporting turnover higher than 16%AVERAGE Of annual salary to replace general employees Graphic expansion (Increasing the bottom line) Time saving (speed to market) Cost cutting 12-18% 24% 20% Source: MedCeps
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- 7. 7 billion dollar weight management counseling market Source: Deloitte
- 8. 8 Corporate Wellness Industry – $6.4B Source: Ibis World Source: Controlling rising healthcare cost
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- 10. 10 • Demo tables and expositions • Perform product demonstration • Sales tailored events • Pitch opportunities 2000 attendees 200 live product demos 100 new company launches Source: Health 2.0
- 11. 6,000,000 4,200,000 3,100,000 1,800,000 500,000 0 1,000,000 2,000,000 3,000,000 4,000,000 5,000,000 6,000,000 7,000,000 NYC Langone Health UPMC Mount Sinai New York- Presbyterian Stanford Health Care # of Outpatient Visits in 2016 11 * This includes primary care and specialists offices, clinics, smaller practices, etc. under each hospital system 600 450 320 150 11 0 100 200 300 400 500 600 700 UPMC Stanford Health Care Mount Sinai NYC Langone Health New York- Presbyterian Total # of Centers Hospitals Source: Think insights Google Source: Health 2.0 Hospitals #ofpatients #ofcenters
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- 13. Yr 0 Yr 1 Yr 2 Yr 3 Yr 4 Yr 5 Direct Sale to rural hospitals with strong salesforce Introduce weight management in Corporate with in-house clinics Attending health IT conferences to aquire large, key market players 13
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- 15. 16 Rural hospitals have limited budget to adopt new technologies Offer free trial and discount on installation fee Delay and extra cost to implement weight management system Hire experienced developers Difficult to convert clients at conferences Build up reputation by online marketing and start building relationship with referrals Hard to persuade large hospitals to implement Sway system Provide free trials to small number of providers under large hospital system Difficult to reach in-house clinics managed by third parties Bypass third-party providers by pitching directly to the companies
- 16. 17 Appendix 1. Target Market: Clinical vs. DTC 2. Recommendation 1: Rural vs Urban 3. Recommendation 2: In-house clinics, weight management and corporate wellness 4. Recommendation 3: Health IT Conferences to attend 5. Financial Information
- 17. 18 Sway adds tremendous value to Clinical centers Median Visit Time Median Wait Time 20 mins 15.7 mins Source: US National Library of Medicine National Institutes of Health Primary Care Providers hard to deliver preventive service due to lack of time
- 18. 19 Sway is hard to enter saturated DTC smoking cessation market Strong Competitors: E-Cigarette Source: Statista
- 19. 20 Sway is hard to enter small DTC smoking cessation market Smoking Cessation App market is small Source: Statista
- 20. Sway is hard to enter saturated DTC weight management market % Market share of weight management service Source: IBIS World 21
- 21. 22 Resource Strain on Rural Hospitals Rural Urban Percentage of population (Residents) 19.3% 80.7% Percentage of Population (Physicians) 11% 89% Number of physicians per 10,000 people 13.1 31.2 Number of specialists per 100,000 people 30 263 Source: National Rural Health Association, Georgetown University, American Lung Association Rural residents have less access to smoking cessation programs and health professionals and are less likely to be tested for chronic conditions Portion of Rural Counties that are Medically Underserved Medically Underserved Areas Adequately Medically Served
- 23. 24 Source: Georgetown University • “Thus, Schroeder and Frist indicate that the best way for an employer to control health care costs is to adopt a system that provides appropriate high-quality care with an emphasis on chronic disease prevention and management, where the focus is on examination and diagnosis versus medical procedures” • Source: Controlling Rising healthcare cost with Innovative Employer- Sponsored Clinics • “So far, tobacco use and obesity are getting the most attention.” • Source: Harvard T.H. Chan School of Public Health Appendix- Recommendation 2: Why
- 24. 23 Prevalence of Smoking in Rural Areas • 27.8%of rural residents smoke, compared to 22.7%of urban dwellers • Residents of rural communities are more likely to: • use tobacco products • start smoking at a younger age • smoke more heavily • higher rates of risky behavior and preventable diseases such as obesity
- 26. 26 Source: Georgetown University • 6.4b industry in total • Expected to grow 3.3% annually over next 4 years • 2.22 Billion industry for weight management and smoking • Source: Ibis World • 27m employees of largest companies • 2000 firms with over 5000+ employees • Source: census.gov Appendix- Recommendation 2: Corporate Wellness/ Clinics
- 27. 27 Source: Georgetown University • 90% of employers offer wellness incentives, or financial rewards or prizes to employees who work toward getting healthier • Johnson & Johnson employee get $500 off annual premiums for submitting a health profile • Source: Wall Street Journal Appendix Recommendation 2: Employee Incentives
- 28. 28 Source: Georgetown University • “According to Towers Watson, 64% of employers with an on-site clinic contract the work to a vendor, while 23% are operated directly by the employer.” • Marathon Health: 140 on-site clinics • Premise Health: 500 on-site health clinics • Healthstat: 300 facilities • QuadMed: 100 clinics • Source: modern healthcare Appendix- Recommendation 2: In house clinics
- 29. 29 • Lacks Example: • Automotive parts manufacturer with 2,800 employees • Implemented in-house clinic • First year had 7,741 appointments; 52% of insure employees used facilites • Enaged 1,522 patients in preventative personal heath assessments • Source: Controlling Rising Health Care Costs with Innovative Employer-Sponsored Clinics Appendix- Recommendation 2: Lacks Example
- 30. 30 Calculation of $3B U.S. weight management counseling market size Total Physical Visit + Total Hospital Outpatient Visits = 1 Billion Percentage of obesity: 60% Average Counseling Fee: $5 Total Market Size: $ 3 Billion Source: Deloitte x x =
- 31. 31 Large percentages of smokers want to quit Source: Statista
- 32. 32 Large percentages of smokers has strong intention to quit Source: Statista
- 33. 33Source: National Rural Health Association Rural Hospitals have higher need and incentive to adopt Sway
- 34. 34 Sway may target companies with in- house clinics in specific industry to introduce weight management Source: Statista
- 35. 35 Low income population in rural area also give higher incentive to adopt Sway weight management feature Source: Statista
- 36. 36 Source: Georgetown University • Top 5 Health IT conferences we recommend: • Health 2.0 • HIMSS • MedTech Impact • Financial Times Digital Health Summit USA • Digital Health Summit • Taking place in: • Las Vegas, Nevada, New York, New York, and Santa Clara, California. • Appendix - Recommendation 3: Conferences
- 37. 37 • Conference brings together clinicians, healthcare executives, technology and device developers and manufacturers, entrepreneurs, and members of the investment community. •Healthcare practitioners and professionals will be introduced to technologies, products, and services that can track patient progress, assist with diagnoses, prevent and manage disease, improve overall patient care and promote the health of the person and populations.
- 38. 39 Source: Georgetown University HIMSS brings together 45,000+ professionals from around the world for five days of education, innovation and collaboration to help uncover the promise of health IT. Opportunity to explore health IT education, cutting-edge products and solutions, and unique networking opportunities •300+ education sessions •200+ special programs •Endless networking events •Exhibition booth
- 40. Source: Georgetown University •2,000 attendees gather to discuss, witness, and share the leading cutting-edge innovations transforming today’s global health care system. Health 2.0’s flagship event connects thought leaders, providers, innovators, investors, and start-ups for four days packed full of curated discussions, demos, exhibits and networking. • Live conference event where market-ready tech companies are connected to healthcare executives looking to purchase and integrate vetted technologies into their organizations. It is designed to break down the barriers of tech adoption within health organizations and connect leading companies directly with pre-qualified executives interested in commercial partnerships. Participants in Market Connect: 41
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