1 / 16

E-scripts

E-scripts. Curt Mull West Holtzclaw Eric McMath Cathy Hood Karen England Jeff Rund Kassonga Mwamba. Situational Analysis Recap. 5% ( 1.5 million/3.2 billion ) Rx filled incorrectly yearly Approx. $27 billion could be saved in fewer medication errors

teagan
Download Presentation

E-scripts

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. E-scripts Curt Mull West Holtzclaw Eric McMath Cathy Hood Karen England Jeff Rund Kassonga Mwamba

  2. Situational Analysis Recap • 5% ( 1.5 million/3.2 billion ) Rx filled incorrectly yearly • Approx. $27 billion could be saved in fewer medication errors • average saving of 0.75 to $3.20 per prescription • 50 clinical software venders • Issues include legal, regulatory and consumer adaptation • E-scripts utilizes web-based virtual prescriptions to reduce errors and increase efficacy in both practices and pharmacies

  3. E-scripts • Web-based, XML, open • Virtual prescriptions • Increase efficiency and decrease prescriptions errors to save lives • Link physicians/pharmacies/HMO/Patient education • Applications across borders • Cost-effective alternative to current systems • Flexible to meet customer needs • Ability to collaborate with companies with ultimate goal of partnership

  4. Procedure

  5. Virtual Hub • Web-based • Document Storage • Maintenance of system • Qualification of medications • Location within countries to contain costs • Connectivity to all aspects of clients

  6. Finances • Initial start-up costs- $4 million • Product Development, Staffing, Legal, compliance, • Working capitol- $2 million • Salaried employees, marketing, outsource • Research Development $2 million • Alpha/Beta trials

  7. Objectives • 15% reduction in prescription errors • 20% increase in staff efficiency • (phone calls, re-fills, call backs) • 15% Improve prescription fill-time • 10% decrease in pharmacy staff • 10% reduction in medication cost

  8. Strategic Positioning in U.S. • Small to medium offices that have some type of system in place • Total system implementation or add-ons • Compatibility with government system • Business Solution • Cost-effective alternative to major chain systems • Involvement with HMO/pharmacy/pharmaceutical company

  9. Global Markets • Internet capabilities • Identified prescription errors • Healthcare infrastructure • Financial resources • Understanding of EMR • Government involvement • J.V.

  10. Why U.K./China • China • Government involvement • Realization of situation • Internet applications in metro areas • Lack of knowledge by public regarding medications • Opportunity • U.K. • Need addressed similar to U.S. • Infrastructure in place • Government involvement • Language • Similar Healthcare system

  11. U.K. Strengths Virtual Hub seamless throughout world Implementation into foreign healthcare system Cost-effective Location Weakness Foreign entity Resources Personnel China Strengths System integration seamless across globe Flexibility to add-on current systems Cost-effective Location Weakness New system development-no boiler plate Language Location Global MarketAssessment

  12. U.K. Opportunity Prescription errors higher than U.S Financial means to implement Language Healthcare infrastructure Government resources J.V. opportunity Threats Government push back Software incompatibility Late to the market China Opportunity 100 Million Internet Users Prescription drugs 75% of all drugs Prescription drugs account for 97% of reported adverse reactions Government sponsored prescription reform Internet infrastructure in metro areas Threats Lack of acceptance in rural provinces Lack of prescription tracking or history Cultural indifference I.P. rights Global MarketsU.K.

  13. Strategic Implementation - China • Increased focus on prescription tracking and drug interaction • J.V with established healthcare company/pharmacy • Partner with Pharmaceutical Companies and Government • Patient identification and payment system will vary based on location • Strategic positioning with hospital and local government healthcare facilities • Initial introduction as enhancement to current practices • Identify and implement total system in ideal setting to maximize success (i.e. smaller metro physician/hospital system ) • Focus on patient education as a means to incorporate system

  14. Strategic Implementation U.K. • Differ than China-quick seamless integration • Infrastructure in place for country-wide implementation • Ramp-up increased by years • Integration into system that will ensure success • Identification of J.V. opportunity with U.K. company • Possible integration with pharmacy chains • Involvement with government to enhance current system in place

  15. 5 Year Plan • Development and Implementation in US 36 months • Measured objectives 42 months • Meet objectives 48 months • Begin participation in TQM initiatives 48 months • Prepare IPO 48 months • Maintain solid performance & growth in stock price 48-60 months • Identify J.V. partners outside U.S. 48 months • Patent processes (software/business) start

  16. 10 Year Plan • Initiate J.V. in identified market outside U.S. Year 5 • Implement E-scripts through partnerships in UK & China year 6 • Realize positive bottom line for global ventures year 7 • Maintain goals for prescription fill time based on market/customer demands • Invest in R&D to move into additional global markets year 8 • Expand portfolio into billing services/EMR year 9

More Related