Market Review - One Goal Console

As a part of this blog assignment we are asked to look at the One Goal Console market size using 4 different ways to estimate: (1) demand, (2) addressable market, (3) realistic opportunities vs competition, (4) targeted selection of "winnable" market opportunities.

The concept of the one goal console is to integrate all of the separate medical devices located in a patient’s room to wirelessly transmit their data into a database that can be accessed by hospital staff and automatically recorded into the patient’s medical records.

1)       Demand: 

There is nothing on the market today does exactly what the One Goal Console is intended to do but there are many indications from new products that are being released, technology improvement outside the medical arena, and the improvements being made in electronic medical records that this is a next logical step for the patient care environment.  Based on the benefits of improved visibility and response time it will ultimately lead to improved patient care.  With this key benefit the team believes this will drive the demand to patient care settings with its biggest benefit being within the acute care hospital environment first, then other areas of the hospital, and moving onto alternate site setting such as long term care facilities and hospices.  Though this would also be a help for day centers or doctor’s offices the demand will be lower in these areas because the benefits of a device like this are significantly lower than for a hospital setting.

2)       Addressable Market: 

The addressable market would be considered similar to the sites discussed in section 1 above.  Because there are different markets within the patient care sector it will give the One Goal Console R&D team the opportunity to scale their design to offer different levels of the same product to keep the entire sector in the addressable market size.  The only area that they team has discussed as potentially unaddressable is areas in California were Kaiser Permanente has a strong hold in the technology that is utilized in their facilities and often creates their own personalized solutions.  At this point we still consider this area addressable because it is not clear what their system is currently using and whether or not Kaiser is moving in that direction.

3)        Realistic Opportunities vs. Competition:  

As mentioned above we do see Kaiser Permanente as a risk that could limit our opportunities but would want to explore what they are currently and whether or not there are still opportunities in those areas that are non-Kaiser systems.   Though Kaiser does create a lot of their own technology solutions if they do not already have something in the works we may want to work with them to license our software option to them.

Another group to consider is wireless technology solutions.  This group would not be considered competition but it is important that the One Goal Console stay up to speed on what the most current and most common options are so we ensure that our product will work seamlessly with their configurations.

And last but not least an important group to consider is the medical device manufacturers.  Though moving into this space may have a different focus than what they do today it is not completely out of scope for them.  The devices they current produce are often strongly software focused, many are already integrating wireless options and (especially the large medical device manufacturers) already have a strong presence in hospitals.  Our opportunity here is to work with them to incentivize them to include the capability to connect to One Goal Console for future generations or to ultimately consider selling the company down the road once the market has been proven.

4)       Targeted selection of "winnable" market opportunities:  The team has decided to target in stages:

To prove the concept before approaching Marquis Accounts the product will be developed and target different customer segments in stages.

Stage 1 – Proof of Concepts:  Day surgery centers:  These types of facilities would be simpler to integrate because:

·         The number of devices would be minimal: the standard parameters to consider would be blood pressure, oxygen, and heart rate and potentially medication pumps.

·         Smaller number of beds affected.

·         The amount of time per patient is less

·         The amount of data to be transferred to their file would also be minimized. 

Stage 2 – Proof of Scale Up: Private Hospice or certain units of a Long-Term Care Facilities:  This would increase the complexity of the technology without getting into the full scale challenges introduced when going to hospitals. 

·         It would require an increased number of devices that are used to monitor patients such as respirators and enteral feeding pumps.

·         The amount of time the patient will be monitored is increased.

·         The number of beds remains small.

Stage 3 – Hospital Beta Trail:  Using the data collected from Stages 1 and 2 it will help to persuade a hospital board to trial the system, with the expectation that ultimately the trial would convert to an account.

Stage 4 - Marquis Hospital Account - Stage 3 would allow the focus to shift to a full scale launch.  Obtaining a marquis account would allow us to go for either a buy out from a large medical device company or get revenue or additional funding to allow for incremental improvements and development of the next generation version.