MIT HMS Healthcare Innovation Bootcamp: Who is your customer
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The document outlines an MIT HMS Healthcare Innovation Bootcamp held in August 2018 in Cambridge, MA. It discusses several themes of the bootcamp, including identifying your target customer, market segmentation, picking a "beachhead market", creating user personas, and mapping out a decision making unit. Various healthcare customer segments are listed and compared. The bootcamp covered qualitative and quantitative research methods for understanding users' needs like detailed interviews which can help validate personas.
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MIT HMS Healthcare Innovation Bootcamp: Who is your customer
- 1. AUGUST 2018 CAMBRIDGE, MA MIT HMS Healthcare Innovation Bootcamp Who is your customer? MIT HMS HEALTHCARE INNOVATION BOOTCAMP
- 2. AUGUST 2018 CAMBRIDGE, MA MIT HMS Healthcare Innovation Bootcamp Disciplined Entrepreneurship: 6 Themes, 24 Steps
- 3. AUGUST 2018 CAMBRIDGE, MA MIT HMS Healthcare Innovation Bootcamp Problem, reprise Are you solving a problem worth solving? Why is this problem important to you? Why are you the right team to solve this problem? 3
- 4. AUGUST 2018 CAMBRIDGE, MA MIT HMS Healthcare Innovation Bootcamp
- 5. AUGUST 2018 CAMBRIDGE, MA MIT HMS Healthcare Innovation Bootcamp Theme 1: Who is your customer?
- 6. AUGUST 2018 CAMBRIDGE, MA MIT HMS Healthcare Innovation Bootcamp Market segmentation 6 Chain Gyms (Discount/Mainstrea m) Chain Gyms (High end) Varsity Athletic Weight Rooms (College) Professional Weight Rooms Home Gyms Rehab Facilities Apartment/Hotel/ Offices Olympic Training Facilities High End Non Chain Gyms Examples • YMCA, Gold’s Gym, Anytime Fitness, Planet Fitness, etc • Equinox, LA Fitness, David Barton, New York Sports Club • School Facilities • Team Facilities • Home Gyms • Private Training Facilities • Home Gym • Joint Ventures (etc), Brigham Young Women’s Hospital (etc) • Finance/Consulting Offices • High end apartments/hotels • Training complex in CO, NC, etc • Velocity sports performance, etc Pros • Market size • Expand to other locations • Prioritize top of the line • Expand to other locations • More money • Care about athlete improvement, health, and safety • Easier to expand to follow on markets • Care about athlete improvement, health, and safety • Easier to expand to follow on markets • Prioritize safety • Wealthy • Large market • Expand to other locations • Prioritize safety and patient improvement • Progress tracking is huge • Some not supervised – safety is important • Expand to other locations • Care about athlete improvement, health, and safety • Easier to expand to other markets • Care about athlete improvement, health and safety. Cons • Value Proposition • Limited funds • Value Proposition • Limited funds • Contacts • Difficult to expand to other colleges • Contacts • Difficult to expand to other facilities • Want things for free • Difficult to expand • Funds may be limited • Patients do not typically lift heavy weights • Not a main part of business • More serious athletes do not frequent these locations • Contacts • Market size • Difficult to expand to other locations • Trainers usually there to spot and track Motivations (for economic buyer) • Money – bringing in new customers, retaining old ones • Money – bringing in new customers, retaining old ones • Image • Athlete Improvement • Recruiting athletes • Athlete Improvement • Safety • Athlete Improvement • Money • Athlete improvement • Less time spent monitoring and tracking patients • Money – Attracting customers or employees • Happiness/well being of employees • Athlete Improvement • Money – Attracting new customers • Athlete Improvement Regulatory Climate • Regulated • Regulated • Regulated • Regulated • Regulated • Regulated • Regulated • Regulated • Regulated Competitive Environment • Highly Competitive • Highly Competitive • Highly Competitive • Highly Competitive • Highly Competitive • Less competitive • Highly Competitive • Highly Competitive • Highly Competitive Early Adopters • No • Yes • Yes • Yes • Varies • No • No • Yes • Yes
- 7. AUGUST 2018 CAMBRIDGE, MA MIT HMS Healthcare Innovation Bootcamp 7 Chain Gyms (Discount/Mainstrea m) Chain Gyms (High end) Varsity Athletic Weight Rooms (College) Professional Weight Rooms Home Gyms Rehab Facilities Apartment/Hotel/ Offices Olympic Training Facilities High End Non Chain Gyms Examples • YMCA, Gold’s Gym, Anytime Fitness, Planet Fitness, etc • Equinox, LA Fitness, David Barton, New York Sports Club • School Facilities • Team Facilities • Home Gyms • Private Training Facilities • Home Gym • Joint Ventures (etc), Brigham Young Women’s Hospital (etc) • Finance/Consulting Offices • High end apartments/hotels • Training complex in CO, NC, etc • Velocity sports performance, etc Pros • Market size • Expand to other locations • Prioritize top of the line • Expand to other locations • More money • Care about athlete improvement, health, and safety • Easier to expand to follow on markets • Care about athlete improvement, health, and safety • Easier to expand to follow on markets • Prioritize safety • Wealthy • Large market • Expand to other locations • Prioritize safety and patient improvement • Progress tracking is huge • Some not supervised – safety is important • Expand to other locations • Care about athlete improvement, health, and safety • Easier to expand to other markets • Care about athlete improvement, health and safety. Cons • Value Proposition • Limited funds • Value Proposition • Limited funds • Contacts • Difficult to expand to other colleges • Contacts • Difficult to expand to other facilities • Want things for free • Difficult to expand • Funds may be limited • Patients do not typically lift heavy weights • Not a main part of business • More serious athletes do not frequent these locations • Contacts • Market size • Difficult to expand to other locations • Trainers usually there to spot and track Motivations (for economic buyer) • Money – bringing in new customers, retaining old ones • Money – bringing in new customers, retaining old ones • Image • Athlete Improvement • Recruiting athletes • Athlete Improvement • Safety • Athlete Improvement • Money • Athlete improvement • Less time spent monitoring and tracking patients • Money – Attracting customers or employees • Happiness/well being of employees • Athlete Improvement • Money – Attracting new customers • Athlete Improvement Regulatory Climate • Regulated • Regulated • Regulated • Regulated • Regulated • Regulated • Regulated • Regulated • Regulated Competitive Environment • Highly Competitive • Highly Competitive • Highly Competitive • Highly Competitive • Highly Competitive • Less competitive • Highly Competitive • Highly Competitive • Highly Competitive Early Adopters • No • Yes • Yes • Yes • Varies • No • No • Yes • Yes Key point for this exercise: • What are the columns? (These are the segments) • What are the rows? (These are how you compare)
- 8. AUGUST 2018 CAMBRIDGE, MA MIT HMS Healthcare Innovation Bootcamp What might be the rows and columns for this product?
- 9. AUGUST 2018 CAMBRIDGE, MA MIT HMS Healthcare Innovation Bootcamp Picking a “Beachhead Market” 9 Chain Gyms (Discount/Mainstrea m) Chain Gyms (High end) Varsity Athletic Weight Rooms (College) Professional Weight Rooms Home Gyms Rehab Facilities Apartment/Hotel/ Offices Olympic Training Facilities High End Non Chain Gyms Examples • YMCA, Gold’s Gym, Anytime Fitness, Planet Fitness, etc • Equinox, LA Fitness, David Barton, New York Sports Club • School Facilities • Team Facilities • Home Gyms • Private Training Facilities • Home Gym • Joint Ventures (etc), Brigham Young Women’s Hospital (etc) • Finance/Consulting Offices • High end apartments/hotels • Training complex in CO, NC, etc • Velocity sports performance, etc Pros • Market size • Expand to other locations • Prioritize top of the line • Expand to other locations • More money • Care about athlete improvement, health, and safety • Easier to expand to follow on markets • Care about athlete improvement, health, and safety • Easier to expand to follow on markets • Prioritize safety • Wealthy • Large market • Expand to other locations • Prioritize safety and patient improvement • Progress tracking is huge • Some not supervised – safety is important • Expand to other locations • Care about athlete improvement, health, and safety • Easier to expand to other markets • Care about athlete improvement, health and safety. Cons • Value Proposition • Limited funds • Value Proposition • Limited funds • Contacts • Difficult to expand to other colleges • Contacts • Difficult to expand to other facilities • Want things for free • Difficult to expand • Funds may be limited • Patients do not typically lift heavy weights • Not a main part of business • More serious athletes do not frequent these locations • Contacts • Market size • Difficult to expand to other locations • Trainers usually there to spot and track Motivations (for economic buyer) • Money – bringing in new customers, retaining old ones • Money – bringing in new customers, retaining old ones • Image • Athlete Improvement • Recruiting athletes • Athlete Improvement • Safety • Athlete Improvement • Money • Athlete improvement • Less time spent monitoring and tracking patients • Money – Attracting customers or employees • Happiness/well being of employees • Athlete Improvement • Money – Attracting new customers • Athlete Improvement Regulatory Climate • Regulated • Regulated • Regulated • Regulated • Regulated • Regulated • Regulated • Regulated • Regulated Competitive Environment • Highly Competitive • Highly Competitive • Highly Competitive • Highly Competitive • Highly Competitive • Less competitive • Highly Competitive • Highly Competitive • Highly Competitive Early Adopters • No • Yes • Yes • Yes • Varies • No • No • Yes • Yes ?
- 10. AUGUST 2018 CAMBRIDGE, MA MIT HMS Healthcare Innovation Bootcamp End User Profile 10 Carecoordinators Sterile Techs Surgical administration Perioperative nurses ORCirculator ORManager Surgeons Anesthesiologists
- 11. AUGUST 2018 CAMBRIDGE, MA MIT HMS Healthcare Innovation Bootcamp TAM 11 $$
- 12. AUGUST 2018 CAMBRIDGE, MA MIT HMS Healthcare Innovation Bootcamp 12 1-minute Google search
- 13. AUGUST 2018 CAMBRIDGE, MA MIT HMS Healthcare Innovation Bootcamp 13
- 14. AUGUST 2018 CAMBRIDGE, MA MIT HMS Healthcare Innovation Bootcamp 14
- 15. AUGUST 2018 CAMBRIDGE, MA MIT HMS Healthcare Innovation Bootcamp 15
- 16. AUGUST 2018 CAMBRIDGE, MA MIT HMS Healthcare Innovation Bootcamp Persona
- 17. AUGUST 2018 CAMBRIDGE, MA MIT HMS Healthcare Innovation Bootcamp 17
- 18. AUGUST 2018 CAMBRIDGE, MA MIT HMS Healthcare Innovation Bootcamp Qualitative Quantitative
- 19. AUGUST 2018 CAMBRIDGE, MA MIT HMS Healthcare Innovation Bootcamp The Detailed Interview
- 20. AUGUST 2018 CAMBRIDGE, MA MIT HMS Healthcare Innovation Bootcamp If things go well, convergence is rapid In 5 interviews: subjects started self- organizing In 10 interviews: Top persona hypotheses emerge In 20 interviews: personas fully validated
- 21. AUGUST 2018 CAMBRIDGE, MA MIT HMS Healthcare Innovation Bootcamp Theme 1: Reprise
- 22. AUGUST 2018 CAMBRIDGE, MA MIT HMS Healthcare Innovation Bootcamp Jumping ahead: Theme 3 Sneak Peek
- 23. AUGUST 2018 CAMBRIDGE, MA MIT HMS Healthcare Innovation Bootcamp “DMU” (Decision making unit, aka stakeholders) Economic Buyer Champion Influencer Veto power End user 23
- 24. AUGUST 2018 CAMBRIDGE, MA MIT HMS Healthcare Innovation Bootcamp User 1: Betsy Periop nurse User 2: Tom Sterile Tech Usage influencer: Jennifer, OR Manager Buyer: Chief Surgeon, Chief Medical Officer Veto: Mark CIO Purchase Influencer: Dave Regulatory Champion: Dave, Surgeon Many personas to build and test User 3: Dave Surgical administrator
- 25. AUGUST 2018 CAMBRIDGE, MA MIT HMS Healthcare Innovation Bootcamp Theme 3: Reprise
- 26. AUGUST 2018 CAMBRIDGE, MA MIT HMS Healthcare Innovation Bootcamp Questions? 26
- 27. AUGUST 2018 CAMBRIDGE, MA MIT HMS Healthcare Innovation Bootcamp Thank you Elaine Chen 27 • @chenelaine conceptspring.com