Bring out some thing new from your Old Product and Services

If you are looking for new market segments for your old product and services. This is the simple exercise or you can say brainstorming kind of thing to look back to your business and find out new market.

Just ask yourself or your team or you can put it on the notice board to get input from your employee.

Who Else -  Who else could use this idea other than your current target customers or segments ?

Where Else - When else could you use this idea ?

When Else - When else could utilize this benefit ?

How Else - How else could use this idea work?



Source : http://www.futurethink.com

In Future, fleet of robots will replace the hospital Workers

The way technology are moving fast we can say that in future Robot will replace the most of the hospitals workers. We have examples from the other industry like Automobile, where most the work done by the Robot. What this Robots can do is very well depicted in movie called Surrogates (Bruce willis).

Forth Valley Royal Hospital, I think would be the first hospital who ever going to try the robotic staff for various works in hospital. There would be a robotic pharmacy where all the prescribe drug will be give by the robots. The robots, which have their own network of corridors under the Forth Valley Royal Hospital, will carry clinical waste, deliver food, clean the operating theatre and dispense drugs. Japan are already using these robots for there hospital so there staff can pay more attention on patients. For more information you can visit this like 

http://www.bbc.co.uk/news/10344849

 

Here is the link from BBC so you can see the small video clip. 

http://www.bbc.co.uk/news/10348099  

 

Kano Model Analysis- Delivering Products/Services That Delight

The Kano Model of customer satisfaction classifies product/service attributes based on how they are perceived by the customers and their effect on customer satisfaction. This model is useful technique for deciding which feature you want to include in product/services. It is also useful to do Gap analysis about you product/service with the customers expectation and the Gap analysis between What customer expect or what do you perceive that customer are expecting? 

The Kano Model divides the product/services attributes is three categories. 1) Threshold 2) Performance 3) Excitements. 

A competitive product/services must meet the basic attribute, maximize the performance attributes, include as many as excitements attributes at cost of that market can bear. 

Threshold Attributes:

These are the basic or expected attributes that a product/services must have, and do not provide opportunity for product/services differentiation. Increasing the performance of these attributes provide diminishing return in the term of customer satisfaction, but absence of this attribute can lead to extreme dissatisfaction. Fox example : Brakes on a Car. 

Performance Attributes: 

Performance attributes are those which are not necessary but but which are known about and increase the customer's enjoyment of the product/Services. The price for which customer are willing to pay for a product closely tied to performance attributes. For example. Customers are willing to pay for car which provide better fuel economy.

Excitements Attributes: 

Which customers don't even know they want, but are delighted when they find them. This attributes are unspoken and unexpected by the customers and result high satisfaction however, absence of these attributes does not leads to dissatisfaction. These attributes satisfy the latent need of customer which they are unaware. When in marketplace there are similar product and services are available then these attributes can give competitive aadvantages. For example: Vacuum cleaner that indicates when the floor being cleaned is dust-free. 

Assessing the Balance of Power in a Business Situation

The Porter's Five Forces tool is a simple but powerful tool for understanding where power lies in a business situation. This is useful, because it helps you understand both the strength of your current competitive position, and the strength of a position you're considering moving into

A Porter`s Five Forces approach to your Hospital/Clinic or any business you are in. 

 

 

1. Competitive Rivalry: 

In business it is very important to see what`s your competitors are up-to. How many new hospitals and clinic has opened near by you and are any new hospitals/clinics are about to come. Whenever new competitor inter in your area, some how some market shares goes down but if you keep watch on that and keep your process innovative you can win. No matter how many competitors are their if you services are above mark and you have brand value then no problem but still you have to keep continuous improvement in your quality care or delivery of healthcare care. Do research what services your competitors are giving compare it with your own, What you are lacking behind full fill those points. Compare the cost of care others are proving, What are the cost of same services in your set up?. Are you giving low quality care with high cost?. Do check your customer loyalty? What are their view about your services? Are they fully satisfied with your services? Do SWOT analysis kind of things. List out those services are process which are your strength that no one provide that. 

2. Threat of New Entry

Your current power can also be affected by the new entry. May the new hospital which are about to open is having latest technology with new process approach which are high in demand among patient or need of the patient. New entry might have strategic location which is near to high way, shopping mall or near corporate buildings, this gives more advantage to new entry to have more patients than you. May be due to recent changes in Gov. policy to buy a land in prime location the their is no barrier to entry. 

3. Buyer Power

Here you ask yourself how easy it is for buyers to drive prices down. Again, this is driven by the number of buyers, the importance of each individual buyer to your business, the cost to them of switching from your products and services to those of someone else, and so on. what is the size of your loyal customers? Are patient able to find new alternative to you like new doctors, clinics, hospital due to low cost. There are must be reason that your patient are shifting to other cheaper hospitals,clinic and providers. How your organization is working with insurance companies or TPA`s to maintain the customer flow.

4. Threat of Substitution

Not-for profit hospitals poses medium to high threat depending on the location of the hospitals. These hospitals on mission to provide care for free or lower cost might be affect your services. 

Gov. Hospitals is can be also a threat if gov is competing hard to provide world class care in lower rate then. Generally large population who are working in Gov sector prefer gov hospital for low cost. They lots of subsidies schemes for patients.

Technology as a Substitute  for example E-health, mhealth, call a doctors etc can uses technology to reduce unnecessary visit to hospitals. Patient can be treated at home by just browsing or just sending an sms to doctors. Even patient need not to go to the hospitals for refill, technology enables them to automatically gives information about the when do you need refill. 

Wellness center of preventive care. change in people view they are shifting from curative to preventive care, they are realizing that health is wealth so they so go wellness center to learn how to be healthy by changing life style. 

5. Supplier Power 

 

They are high threat to any hospitals/Clinic. If supplier have the control over price than they can take advantage of it. Due to rise in demand hospital consumable also increase and if there are few suppliers of providing good quality of product then have control on price. Also, due to advancement in technology the medical equipment needs high capitals cost to buy latest technology