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

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Presentation transcript:

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

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

Procedure Physician Mail OrderPharmacy PatientPatient advocacy info Virtual Hub Pharmaceutical CompanyHMO/Medicaid/Medicare

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

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

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

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

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

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

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

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

Strategic Implementation - China Increased focus on prescription tracking and drug interaction Increased focus on prescription tracking and drug interaction J.V with established healthcare company/pharmacy J.V with established healthcare company/pharmacy Partner with Pharmaceutical Companies and Government Partner with Pharmaceutical Companies and Government Patient identification and payment system will vary based on location Patient identification and payment system will vary based on location Strategic positioning with hospital and local government healthcare facilities Strategic positioning with hospital and local government healthcare facilities Initial introduction as enhancement to current practices 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 ) 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 Focus on patient education as a means to incorporate system

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

5 Year Plan Development and Implementation in US 36 months Development and Implementation in US 36 months Measured objectives42 months Measured objectives42 months Meet objectives48 months Meet objectives48 months Begin participation in TQM initiatives 48 months Begin participation in TQM initiatives 48 months Prepare IPO 48 months Prepare IPO 48 months Maintain solid performance & Maintain solid performance & growth in stock price48-60 months Identify J.V. partners outside U.S.48 months Identify J.V. partners outside U.S.48 months Patent processes (software/business) start Patent processes (software/business) start

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