Peak-2-Go STRATEGIC PLAN PRESENTATION ANDREA (BARNES) WEST EASTERN UNIVERSITY
Business Concept Electronic peak flow meter that “plugs” into the data port of cellular phones Integrated with a cellular application (app) App trends users results and allows them to monitor their respiratory status Can send results to physician office for remote monitoring
Mission Statement PEAK-2-GO IS DEDICATED TO PROVIDING HIGH QUALITY, INNOVATIVE RESPIRATORY HEALTH APPLICATIONS AND PRODUCTS TO THE WORLD THAT PROMOTE WELLNESS AND HEALTH TO THE INDIVIDUALS WE SERVE.
Competition Difficult to know when new apps are being introduced to market AsthmaMD- basic app currently available through the Apple platform Preliminary market research- 60% likely to purchase Need to test prototype of cellular compatible meter with application once built
The Team Andrea West- founder Registered nurse, nursing informaticist, code writing experience Personal experience with peak flow meter testing, developed product out of personal need Extensive professional and personal network Currently seeking investors and staff to join team
Market Analysis No current electronic peak flow meters on the market that are integrated with a cellular application Few scientifically based health apps currently on the market Mobile health market in $26 billion Mobile health app users- 96 million
Opportunities 25.9 million Americans with asthma 12.7 million Americans with COPD Growth in cellular phone based health applications Move towards preventative care and self- management
Financial Plan Seek investor support both financially and in building the company –Overall costs estimated at $2.5 million Application code Prototype Marketing Staffing
Risks and Rewards Risks: –Bringing a novel product to the market –Health application market is large and competitive Rewards –Improving health and wellness of consumers –First product of its kind on the market –Release of other respiratory technology products to market
Key Issues Near term –Assemble team to build prototype of electronic meter device and write application code –Obtain investor(s) Long term –Effective marketing –Staying on top of technology, upgrading product as necessary –HIPAA regulations –Global release of application
References American Lung Association. (2014). Fact sheets. In-Depth Resources. Retrieved from AsthmaMD. (2014). About. AsthmaMD: Track. Control. Live Better. Retrieved from Comstock, J. (2013, March 14). Report: 1.7B to download health apps by MobiHealth News. Retrieved from to-download-health-apps-by-2017/ to- Conn, J. (2013, December 14). No longer a novelty, medical apps are increasingly valuable to clinicians and patients. Modern Healthcare. Retrieved from Goedert, J. (2012, June 12). Kalorama tracks mobile medical app market. HealthData Management. Retrieved from market-kalorama html iHealth Beat. (2013, September 12). Reports predict significant growth in mobile health market. News Archive. Retrieved from mobile-health-market