Re designing the business model for a cutting edge medical device
For many years, a global medical devices company led the market of heart transplants solutions. Through the years, this company set the standard service model for hospitals, HMO’s and even established the foundations for regulatory standards. Now, the rising competition shakes the economics of the service envelope, leading to an overall decline in the product profitability.
“Through gaining an enlightening holistic point of view, we could design tailor-made solutions for our stakeholders now”
The ecosystem was a really complex one and very hard to influence. Our main challenge was mapping the different players from the patient, through medical staff up to regulators, and understanding their specific motivations, needs, and pain point that the company might answer through a new service model. The next challenge at the development phase was to align the different, even colliding, needs to redesign the interactions between them.
The company management team designed 3 different approaches to different ecosystem stakeholders: the hospitals, the HMOs’ and the regulators. The main understanding was that the complexity and conservatism of the industry won’t allow a one-shot, short-term solution. The core theme of the 3 approaches was the fact that they were built as a progressive roadmap model, probing mini interactions changes and adjusting the overall service model over time.