A summary document on a business model for a B2B Medical product startup that is ideal for the India Market and focusses on the operational details and operating architecture

1. Knight
Right
Sword for the White Knight
Drug based data Analytics firm for
Medical Professionals, Hospitals and
Drug manufacturers
Business Model
Overview

2. Business Model Canvas
Customer
Relationships
Distribution Channels
Customer Segments
Key Partners
Network Key Activities
Value Proposition
Cost Structure
Revenue Streams
 High Functional
 High Economic
 Doctors with
personal clinics
 Medium size clinics
 Medium to large
hospitals
 Drug Manufacturers/
Wholesalers
Partners at each
stage
 Data
Acquisition
 Data
Assimilation
 UI design/
Maintenance
 Senior Sales
Management Team
 Senior Application
Support Team
 Independent Medical
Advisory Team
 Senior Data Analytics
Team
 Subscription Type
 License Type
Activities associated
with
 Back End
 UI End
 Application Support
Costs segregated
based on
 High Utility
 High Cost
 Direct B2B – Level 0
 Distribution based on
Designation
Relationships with
 Hospitals
 Private Practitioners,
clinics
 Drug Manufacturers
Key Resources
Knight Right|| Business Model

3. About The Product
Sword for the White Knight
Patent Office Newsletters
Partner Drug Companies
Partner Drug Distributors
Optimum drug
recommendations
• Ideal Drug available
• Ideal Distributor
Available
• Ideal source of Sale
Knight Right|| Business Model

4. Value Proposition
I am prescribing the most
popular drug
I am prescribing the most
Available drug
I am prescribing the most
economic drug
I prescribe the drug from the
company which visits me the
most
I am aware of only those new
drugs which have reached me
in my clinic
I like to go for traditional/
generic drugs over new
variations
Might be ignorant
Might be biased
Might not have a
choice
Feedback
Unstated Need
Educate the
Prescriber
Educate the
producer
Value Proposition
High Functional High Economic
 Tool checker which helps
doctors while prescribing
drugs
 Reduces Errors – higher
loyalty of patient
 Helps gain credibility,
reliability for doctors
 Perceived Time Cost lesser
Knight Right|| Business Model

5. Customer Segments
• Ideal for Launch of the
product
• Ideal to gather customer
base by WoM
• Most effective volume
impact by this segment
Doctors with
personal clinics
Medium size
clinics
Medium to large
hospitals
• Helps bring more
structure to the Value
chain
• Effective in enrolling more
doctors
• Useful for long term
partnerships/ co branding
• Ideal to generate
quick sales
• Ideal for involving
more partners
• If tapped correctly,
can yield massive
profits
• Smaller no. of
transactions per doctor
• Might not be effective for
all drug channels
• Apparently complicated
model for simple
organisations
• Existing channels and
means of drug
procurement
• High resistance to
change to existing
structure
• Low likelihood of
business conversion
for current fiscals
• Target Niche
department experts
• Target experienced or
mature clinics in terms
of organization
• Target welfare
focused and people
centric hospitals first
WhythissegmentWhynotthis
segmentWayAround
Drug Manufacturers/
Wholesalers
• Good fit with their business
need for demand forecast
and real-time preferences
of professionals
• Big names will attract more
medical professionals to
use the platform
Difficult to bring the well-
established players on
board/ lack of incentive or
motive for big names
• Target new entrants, by
providing them a robust
platform to build their
brand
• Target established players
keen on staying relevant
in market
Knight Right|| Business Model

6. Customer Relationships
Relationship with Hospitals
• Keeping the doctors up-to-date with latest drugs, techniques, innovations in
Medicine & Pharma
• Serving as a medium of interaction in medical fraternity
Relationship with Private practitioners, Clinics
• Increasing awareness about better options in prescribing drugs, specially in
doctors of tier-II, III cities
• Serving as a medium of interaction in medical fraternity
Relationship with Drug Manufacturers
• Building brand trust amongst medical fraternity, over a period of time, for a new
brand
• Using real-time preferences of drugs as insights to build better formulations
• Evaluate their offering vis-à-vis the need & standards of industry
Knight Right|| Business Model

7. Distribution Channel- Direct
Director - Sales
Manager - Sales
Executive - Sales
Ground visits to doctors
Ground visits to Clinic/
Hospital Admins
Attend and arrange
medical seminars
Attend and arrange
entrepreneurial meets
Meetings with Senior
Hospital Admins/
directors
Interaction with
Pharmaceutical
companies, drug
manufacturers
Knight Right|| Business Model

8. Key Partners
Data Acquisition Data Assimilation UI design/ Maintenance
Back End UI End
Third Party
Data Source
Drug
Manufacturer
Drug
Wholesaler
Drug
Distributor/Re
distributor
Data Mining
Expert
Data Warehouse
expert
Data Analytics Expert
UI design Partner
UI and Backend
Data maintenance
partner
Knight Right|| Business Model

9. Key Resources
Senior Sales
Management Team
• Seamless tech services
• Non stop data updates, upgrades
and answering queries
• Constantly aware of how the
Application may need a change
in its look, feel, functionality
USP
Reliability and Credibility
Loyal base of Prescribers & Hospitals
Foundation strength in the Application and UI
Senior Application
Support Team
Senior Data Analytics
Team
• Ensure new, repeat business
• Ensure maximum partnership
reach
• Ensure real time business
requirement
• Computes historical data
• Uses the optimum drug algorithm
• Determines shifts in drug
manufacturing/ distribution
Independent Medical
Advisory Team
• Team of independent doctors on Contract
basis
• Physicians across geographies and
disciplines
• Team create to advise on medical
conflicts over any strategy by the firm
Knight Right|| Business Model

10. Key Activities
Data Acquisition Data Assimilation UI design/ Maintenance
Back End UI End
Application Support
1. Partner with Drug
manufacturers
2. Partner with drug
wholesalers/ resellers and
distributors
3. Partner with data mining firms
for updated patent data
4. Partner with independent
medical advisory team
5. Partner with ETL and Data
Mining firms
6. Create a dynamic database
enlisting “Drug:Price:
Geography”
7. Creating a standard model for
quick upgrade of database
with new/dynamic information
8. Running the drug-optimization
algorithm and generating
predictions
9. Create a UI with login facility,
so that only the subscriber
with the right key can log in
10.Create a UI for the producer
too, where he can see the
latest updated data trends
11.Constantly monitor and
modify the UI functionality to
ensure seamless customer
experience
12.Feedback oriented application
support
13.Periodic as well as ad hoc
Knight Right|| Business Model

11. Revenue Streams
Doctors with
personal clinics
Medium size clinics
Medium to large
hospitals
Drug
Manufacturers/
Wholesalers
Subscription Type
• Enrol more “customer”s in the user base
• Provide free trials, based on time/ no. of uses
• Create subscription model varying based on type of
customer e.g. Single user/ prescriber, small
organization, large organization, producer
Single Users
Research groups
Ancillary value
chain members
License Type
• License the accumulated data
• Sell on a per use basis
• Sell static data, in the form of reports, manuals and
observations etc
Knight Right|| Business Model

12. Cost Structure
Low Utility
High Utility
Low Cost High Cost
1. Partner with Drug
manufacturers
2. Partner with drug
wholesalers/ resellers
and distributors
3. Partner with data
mining firms for
updated patent data
4. Partner with
independent medical
advisory team
5. Partner with ETL and
Data Mining firms
6. Create a dynamic
database enlisting
“Drug:Price: Geography”
7. Creating a standard
model for quick upgrade
of database with new
information
8. Running the drug-
optimization algorithm and
generating predictions
9 Create a UI with login
facility, so that only the
subscriber with the right
key can log in
Senior Sales
Management Team
Senior Application
Support Team
Senior Data
Analytics Team
Independent Medical
Advisory Team
Knight Right|| Business Model

13. Contact
Partho Sarathi Ghosh
Psg.9590@gmail.com
7507434035