This document provides details about a business proposal for a medical device called InfoMax. InfoMax is a full body scanner that patients would walk through before seeing their doctor. The scan would show the patient's medical history, current abnormalities, and compare to previous scans. Doctors could then interpret the scan to help diagnose issues. The document outlines the vision, industry analysis, target customers and their needs, product details, suppliers and partners, business strategy, and key business processes for research and development and quality control. The overall goal of InfoMax is to improve patient care and quality of life by providing doctors with more accurate diagnostic information.
This document provides details about a business proposal for a medical device called InfoMax. InfoMax is a full body scanner that patients would walk through before seeing their doctor. The scan would show the patient's medical history, current abnormalities, and compare to previous scans. Doctors could then interpret the scan to help diagnose issues. The document outlines the vision, industry analysis, target customers and their needs, product details, suppliers and partners, business strategy, and key business processes for research and development and quality control. The overall goal of InfoMax is to improve patient care and quality of life by providing doctors with more accurate diagnostic information.
This document provides details about a business proposal for a medical device called InfoMax. InfoMax is a full body scanner that patients would walk through before seeing their doctor. The scan would show the patient's medical history, current abnormalities, and compare to previous scans. Doctors could then interpret the scan to help diagnose issues. The document outlines the vision, industry analysis, target customers and their needs, product details, suppliers and partners, business strategy, and key business processes for research and development and quality control. The overall goal of InfoMax is to improve patient care and quality of life by providing doctors with more accurate diagnostic information.
Name Kirsty Prankerd NetID kpra749 Group Number: 329 Website Link: http://infosys1102014fcgroup329.blogspot.co.nz/ Tutorial Details Tutor: Day: Time: Mira Friday 11am Time Spent on Assignment: 21 hours Word Count: 1635
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2 INFOMAX INTRODUCTION I think we will just put your symptoms down as being stress-related, come back if the problem persists over the next few days. Im sure that many of us have had an experience with the doctor that has led us to believe that their doctor isnt 100% competent or certain about an illness you have, often referring to Google to question the search engine, something you could of done at home yourself without wasting time or money. Although I understand that human error is inevitable, this reoccuring issue of incompetencies and uncertaintys highlights that the problem needs to be addressed (Lickerman, 2009). In order to streamline the process, the solution I propose is InfoMax- a compulsory full body scanner, that you walk through before your consult with the doctor, the scan shows personal information, history and outlines likely abnormalities in the body that can be compared to previous scans you have had. The doctor then deciphers and interprets it to ultimately find a solution. This innovation is the edge that the health sector requires, using combined information systems to capture, process, store and deliver patient information in the most efficient way to date. 3. BUSINESS SECTION 3.1 Vision To dramatically improve the quality of paitients lives worldwide by using information technology to assist with human decisions to ultimately increase knowledge and problem solutions (Schwartz, 2012). 3.2 Industry Analysis: Medical Devices and Diagnostics Industry Industry: Medical Devices and Diagnostics Industry. Force: High/Low: Justification:
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3 Buyer power: Low The use of various highly developed IT systems used to make innovations in this industry has lead to many Patent IT systems (Information Technology Plan, n.d.). Patent protection means the invention is safe within the company who developed it as it cannot be made, used or sold without consent (Redwin, 2010). This means if buyers want your product then they can not source it from another company for a more competitive price so buyer power is low. Supplier power: Low There are many raw material suppliers that offer products in standard verisions (Components, n.d.). Suppliers of Cloud technology is essential software regarding the datebase system, of which there are numerous providers to choose from for example Cisco, Microsoft and Rackspace which lowers supplier power (Staff, 2012) Threat of new entrants: Low A large amount of capital will need to be injected into research and development to ensure the product satisfies customers needs and addresses safety concerns. Money is continually invested into the products to improve them as technology evolves (Investopedia, n.d.). Patents also protect the initial company who created the product, making it difficult for companies in the medical devices and diagnostic industry to copy.
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4 Threat of substitutes: Low There is little to no alternatives to technology inspired medical devices and diagnostic tools, except for simple tools such as thermometers and stethoscopes which are not comprehensive enough to aid doctors in performing their job. Rivalry among existing competitors: Low There is not currently an invention in the industry that is similar to InfoMax, and filed patents lower competition among existing companies in the industry as InfoMax has exclusive rights to ownership and use. Overall attractiveness of the industry: Attractive industry to be already established in as low competition and have influence over buyers and suppliers but the industry is difficult to enter as there is a high cost barrier. 3.3 Customers and Thei r Needs The target customers for our product include hospitals and general practices both public and private nationwide in New Zealand. Eventually expanding our target market to international countries that have a developed heath care system in place as well. It is considered a necessity for doctors to need faster and more accurate diagnostic devices when deciding approproate treatment of their paitents, the end users of the product (Barnes, 2014). Confidence in patient-doctor relationships needs to be stregthened, due to past experiences, where patients become disstressed at the fact a doctor has not come to a conclusion on diagnosis, because they simply do not know (Lickerman, 2009). To re- establish relationships, doctors need better aids to making diagnosis decisions, as human error cannot completely be eliminated. InfoMax will also allow more time to treat more people within the same timeframe. The patients needs are also taken into consideration, as they desire efficient diagnosis with the correct advice and treatment given by the doctor. This is beneficial as restores
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5 confidence in doctors and increases customer satisfaction when the appropriate care is given. 3.4 The Product and Service
The data cloud system will contain all of the information about the persons health, starting from the day they were born. It will include things such as height, weight and birth complications, which may cause future problems. The scanning process will be completed every time you visit a doctor with a certain problem, otherwise it will be an annual procedure, to update the scans. With the use of this scanner the GP is able to see any developments in the patients body, and the information from the scans is then automatically uploaded to the cloud. With this data system the practitioner would be able to access all of the information on the patient: from the previous diagnosis, medications, to treatments received by the subject. InfoMax will therefore prevent wrong diagnosis, the ability to see previous information on each patient can make suggestions to the doctor if you are having a reoccuring illness from your past, or the scan will show abnormalities ranging from broken bones to cancer. More information is not a bad thing, it allows the doctor to see the data and dictate the scans into information to commuincate to the patient, increasing their knowledge surrounding the issue at hand. InfoMax meets the customers need (GPs and hospitals) as doctors uncertainties are reduced as they can back up their knowledge with information from the scanner, reducing the time taken to treat the paitient. 3.5 Suppliers and Partners Suppliers are needed to manufacture the product, such as the raw materials to make up the frame of the scanner which can be obtained by plastic component suppliers. Cloud service providers such as Microsoft are essential suppliers in order to access the database simulataneously in all georgraphic locations. Partners obtain a mutual benefit with the company, InfoMax intends to partner with a career and workforce development programmes for students interested in careers in
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6 research and information technology, this aids in both product recognition and helping employment. Also consultant firms are partners as they promote the product and train doctors on the correct use of the technology and in return they receive payment for example New Zealand Health IT. 3.6 Strategy: Focused High Cost InfoMax cost strategy is very high cost which is proportionate to the amount of research and development put into the product, they also hold first mover advantage as InfoMax is a new innovation so are able to set the price benchmark high. A specific target market makes the competitive scope narrow with targeted customers including hospital facilities and general practices over large geographic areas. The overall strategy is therefore Focused High Cost. 3.7 Value Chain Activity: Research and Development (R&D) The most important value chain activity for this business is R&D. To dramatically improve paitients quality of life the technology needs to be optimum, the technology needs to undergo thorough testing to check the accuracies and confidentiality of the data base system otherwise this would just create more problems for doctors dechipering the scans from the InfoMax. As a high product price, customers expect extremely good quality of technology. As more technologies are developed over time, the innovation is able to be adapted to continually improve patients quality of life and aid in doctors decision making. 3.8 Business Processes 3.8.1. RESEARCH AND DEVELOPMENT PROCESS InfoMax needs to meet specifications from the design process that is developed due to customer demand found from market research.
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7 Research & Identify Customers Needs Start Outline Specifications to Improve Existing Product Marketing Department Develop a Prototype According to Specifications R&D Department Design Department Do the Specifications Provide Functionality to Satisfy Cust omer Needs? No Yes Ready for Manufacturing End Manufacture Department Product Specification System Product Testing System
3.8.2. QUALI TY CONTROL PROCESS InfoMax must perform at optimal standards to meet health regulations as this technology concerns paitients wellfare and accuracy is essential. Testing the quality of the product before sold to customer and after they receive it is necessary.
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8 Start Finished Goods Moved from Manufacturing to Quality Control Department Test Functionality of InfoMax According to Outlined Specifications Does Units Functionality Meet Specificati ons? Audit Product Against Health Sector Standards Does Unit Meet Specificati ons? Hand Unit to Customer For Own Testing Is the Cust omer Satisfied With Operat ing Condition of Unit? Yes Yes Yes End Manufacture Department Quality Control Department Product Testing System Repair or Discard if Irreparable No Standards Auditing System No Product Testing System No Customer Feedback Design Department Customer Support Department Manufacture Department
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9 3.9 Functionalities 3.9.1. RESEARCH AND DEVELOPMENT PROCESS Specify criteria InfoMax must meet Design prototype according to criteria 3.9.2. QUALI TY CONTROL PROCESS Test InfoMax against intended specifications Compare InfoMax to industry standards 3.10 Systems
3.10. 1. PRODUCT SPECIFI CATI ON SYSTEM Many documents are combined to be accessed and edited in multiple locations, by multiple departments such as design and manufacture, to allign specifications on paper to the product to satisfy customer needs. 3.10. 2. PRODUCT TESTI NG SYSTEM Check InfoMax product immediately after it becomes finished goods, the finished goods must meet requirements outlined in design phase. Testing is also completed once customer receives the item, to provide feedback that the technology is in working condition and ready for use. 3.10. 3. STANDARDS AUDI TING SYSTEM InfoMax is in the medical device and diagnostics industry which means, the product must conform to extremely high standards in particular the safety to patients who use it. The results from this system helps form decisions on whether the product needs more attention or is ready for use.
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10 3.11. Summary Table: Value Chain to Systems
Value Chain Activity Processes Functionalities Specific Information System(s) Broad Information System(s)
R&D 1. Research and Development Process 1. Specify criteria InfoMax must meet
2. Design prototye according to criteria
Product Specification System Product Testing System Collaboration System
DSS 3. Quality Control Process 1. Test InfoMax against intended specifications
2. Compare InfoMax to industry standards Product Testing System
Standards Auditing System DSS & CRM
DSS
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11 CONCLUSION InfoMax incorporates information systems, to add value to the customers but also the end users of the product. InfoMax will efficiently and effectively aid in doctors knowledge to allow accurate treatment of their patients. Ultimately restoring faith in doctor-patient relationships, and thus increasing quality of life. REFERENCES
1. Lickerman, A. (2009, April 26). When Doctors Don't Know Whats Wrong. Happiness in this World RSS. Retrieved May 24, 2014, from http://www.happinessinthisworld.com/2009/04/26/when-doctors-dont-know- whats-wrong/#.U30oOXOssep 2. Schwartz, E. (2012, February). An Alternate Vision for the Future of Healthcare. Innosight. Retrieved May 22, 2014, from http://www.innosight.com/innovation- resources/strategy-innovation/an-alternate-vision-for-the-future-of-healthcare.cfm
3. Redwin, B. (2010, December 28). What Is a Patent and What Protection Does It Provide?. Suite. Retrieved May 25, 2014, from https://suite.io/brenna- coleman/4qv6242
4. Overview of Information Technology Plan for FY 2010-2015. (n.d.). United States Patent and Trademark Office. Retrieved May 15, 2014, from http://www.uspto.gov/about/offices/cio/ITP_Overview.pdf
5. Components | Qmed. (n.d.). Components | Qmed. Retrieved May 20, 2014, from http://www.qmed.com/supplier-categories/components
6. NZ Market. (2010). Medical Technology Association of New Zealand. Retrieved May 13, 2014, from http://mtanz.org.nz/NZ-Market-The-NZ-Healthcare- Market/Overview-6374.htm
7. Barnes, M. (2014, February 18). The Demand for Accuracy, Cost-Efficiency, and Versatility in Diagnostics. Medical Design Technology. Retrieved May 24, 2014, from http://www.mdtmag.com/articles/2014/02/demand-accuracy-cost-efficiency-and- versatility-diagnostics
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12 8. Staff. (2012, April 24). Top 10 cloud computing providers of 2012.Introduction -. Retrieved May 25, 2014, from http://searchcloudcomputing.techtarget.com/photostory/2240149038/Top-10- cloud-providers-of-2012/1/Introduction#contentCompress
9. Research And Development (R&D) Definition | Investopedia. (n.d.).Investopedia. Retrieved May 24, 2014, from http://www.investopedia.com/terms/r/rand