BUS 400 Milestone Two Zachary Colby
.ppt
keyboard_arrow_up
School
Southern New Hampshire University *
*We aren’t endorsed by this school
Course
400
Subject
Business
Date
Feb 20, 2024
Type
ppt
Pages
12
Uploaded by UltraAtomNightingale32
BUS 400 Milestone Two Template
Business Model Canvas Walmart Urgent Care
Company:
Walmart
Last updated: 02/11/2024
Zachary Colby
Unique Value Proposition
Why Urgent Care:
•
Accessible
•
Convenient hours
•
Timely
–
“…most urgent care centers will be able to see you in 20 minutes or less, and most patients are diagnosed, treated and out the door within an hour.” (Omnimedmd, n.d.)
•
Cost-efficient
•
Wide rage of Services
Blue Ocean Strategy:
Walmart Urgent Care will provide a strategic advantage in the retail marketplace because no other retail company is providing an option for this. First of its kind. It will provide convenient urgent medical services at an affordable price. Customers/Patients will have the option to obtain medical care at an already affordable retail store.
1: Key Business Model Questions: The Customer
1.
How do you acquire customers? •
Customer acquisition will be done through Walmart marketing methods
•
In-Store Advertising
•
Billboards
•
Social Media
•
Websites
2.
How do you deliver the product/service to the customer? •
Physician Clinics within Walmart Stores
•
Collaborations with local healthcare primary care providers, specialists and hospitals
•
Marketing through Walmart’s communication channels.
•
After you have landed a new customer, how do you plan to relate to that customer and manage the relationship (if at all)? •
Treat patient as quickly and efficiently as possible
•
Nursing Follow-Up calls 24-72 Hours post treatment
•
Coordinate follow-up care with Primary Care and/or specialists
•
Bill Health Insurance for visits and balance bill patients, if applicable.
Your preview ends here
Eager to read complete document? Join bartleby learn and gain access to the full version
- Access to all documents
- Unlimited textbook solutions
- 24/7 expert homework help
1(a): Key Business Model Questions: The Customer, Continued
4.
How will you charge your customers? What is your revenue model? We will be charging our customers/patients for a facility and a professional fee. These charges will vary by severity of the visit. 4.
How much will you charge your customers? Can you calculate your revenues for the next month, quarter, and year? We will be charging our customers/patients a standard visit cost of $150.00 and this is with no ancillary charges such as labs, x-rays or IV fluids. X-rays, Labs and IV Fluids will all have additional costs depending on the test. It will be challenging to calculate revenues for the next month, quarter and year based on we won’t know what the patient volume will look like. After a few months we would be able to do some forecasting of revenues based on history. 5.
What key activities do you need to engage in to deliver your value proposition? Medical Consultations and Treatments including labs, x-rays, IV Fluids
Continuous staff training
•
Continuous Medical Training for Providers (MD’s, ARNP’s, PA’s)
•
Continuous Medical Training for Nurses (RN’s, MA’s, LNA’s)
•
Continuous Training on Equipment for Rad Tech’s, Nurses and Providers
•
Customer Service Training for Office Staff and Billing Staff
2: Key Business Model Questions: Assets, Partners, and Cost
6.
What assets are available to you or under your control? According to the SWOT analysis of Wal-Mart there are Strengths that are under our control and will add to the Urgent Care. Those include Efficient Supply Chain Management, Diverse Revenue Streams and probably the most important which is a Strong Customer Base. (Pereira, 2023)
7.
Who are your key partners?
Key partners in the Walmart Urgent care would be local Healthcare providers and Hospitals, Local EMS services for Emergency Situations, Health Insurance Companies, Walmart Corporate for Support, External Durable Medical Equipment (DME) Supplies for additional supplies needed for the patient/customer.
1.
What are your cost structures? What will you need to pay for in order to create the product/service? We will have several costs some just a startup cost and some regular costs
•
Startup Costs include Several Exam Tables at $895 each, 1 Xray Machine at $28,000 and also $40,000 for Lab Equipment
•
Recurring Costs will be Salaries such as Physician Assistant ($100,000 annually), ARNP ($125,000 Annually) and Medical Assistants ($35,000 Annually). •
We will also have marketing costs, supplies and contractual adjustments with the Health Insurance Companies.
3: Create Your Own Business Model Canvas Chart
Key Partners
•
Local Healthcare providers and Hospitals
•
Local EMS services for Emergency situations
•
Healthcare Insurance Companies
•
Walmart Corporate for support
•
External Durable Medical Equipment Suppliers for additional supplies needed for the patient.
Key Activities
•
Medical consultations and treatment
•
Continuous staff training and development
•
Marketing and promotion
Key Resources
•
Medical Professionals (doctors, nurses, other staff)
•
Walmart store space
•
Medical Equipment and technology
•
Combination with Walmart supply chain
Value Proposition
•
Convenient and Accessible healthcare services
•
Affordable Urgent Care
•
Integration with other Walmart Services such as Pharmacy and supplies.
Customer Relationship
•
Follow-Up Services and Reminders
•
Transparent pricing and Billing
Channels
•
Physician Clinics within Walmart Stores
•
Collaborations with local healthcare primary care providers/specialists and hospitals
•
Marketing through Walmart’s communication channels.
Customer Segments
•
Local Residents
•
Low-Income Families
•
Busy Families
•
Walmart Shoppers
•
Employees of nearby businesses
•
Tourists and travelers
Cost Structure
•
Employee salaries and benefits such as Registration Staff, Nurses and Doctors
•
Medical Equipment such as Xray Machines, Laboratory Testing, •
Medical Supplies such as syringes, bandages, ice packs, etc…
•
Marketing and promotional costs
•
Visit Costs
•
Contracts with Insurances
Revenue Streams
•
Urgent Care Service Fees (both technical and professional)
•
Health Insurance Partnerships
•
Over-the-counter Medication sales
•
Tiered pricing depending on income qualifications
Your preview ends here
Eager to read complete document? Join bartleby learn and gain access to the full version
- Access to all documents
- Unlimited textbook solutions
- 24/7 expert homework help
4: Consider Your Business Model
•
Based on the BMC chart, why does it make sense to proceed with this new product/service? It makes sense to proceed with this new service because there are no other retail businesses that also provide a Healthcare service such as an urgent care. Also because Wal-Mart strives to provide low-cost products and services and that is what an Urgent Care does. •
What are the risks to your business model? [(For example, do you have the right relationships with suppliers and partners to create the value proposition and bring it to market?) According to Wal-Marts SWOT analysis one risk that Wal-Mart will have is there is Intense Competition in the Retail businesses and there are many companies in the Urgent Care world so the competition would increase. •
Are there things that can or should be changed to strengthen the business model to reduce its risk? One area that we could change that could increase the opportunity for Wal-Mart and decrease the risk of Competition is to add a Telehealth option as well. This is because according to the SWOT analysis a weakness for Wal-Mart is they have a Limited E-commerce presence and E-Commerce Growth as an opportunity.
5: Clarify Your Business Model Assumptions
[List and categorize your assumptions about your business model below. Use as many lines as you need. Remember to indicate if this item is an assumption with an X in the third column or provide supporting evidence in the second column.]
BMC Chart Item in Question
This Is a Fact.
Here Is My Evidence:
This Is an Assumption
Customers will be low-Income families
X
“Affordable” Urgent Care
“Every Day Low Price is the cornerstone of our Strategy, and our focus has never been stronger.” (Walmart, 2024)
Medical Professionals will be a Key Resource
MD, PA, ARNP, Medical Assistants will be required for the Wal-Mart Urgent care.
Local Healthcare Providers and Hospitals will be key partners
Local Hospitals will be a required key partner for services that the patient requires and we don’t provide.
Healthcare Insurance Companies will be a Key Partner
X
6: Preparing to Meet Customers: Materials and Sales Process
Your preview ends here
Eager to read complete document? Join bartleby learn and gain access to the full version
- Access to all documents
- Unlimited textbook solutions
- 24/7 expert homework help
7: Update Your Documentation
•
The product/service is targeted to provide low-income buys families an affordable urgent care clinic within a retail store.
•
The type of value our product/service delivers is a convenient and affordable urgent care clinic.
•
Our product/service is unlike others because it will provide a one stop shop for consumers. We will provide an Urgent Care Clinic in an already busy retail superstore with household groceries and supplies. No other retail store currently provides this service.
9: Updated Business Model Canvas Chart
Key Partners
•
Local Healthcare providers and Hospitals
•
Local EMS services for Emergency situations
•
Healthcare Insurance Companies
•
Walmart Corporate for support
•
External Durable Medical Equipment Suppliers for additional supplies needed for the patient.
Key Activities
•
Medical consultations and treatment
•
Continuous staff training and development
•
Marketing and promotion
Key Resources
•
Medical Professionals (doctors, nurses, other staff)
•
Walmart store space
•
Medical Equipment and technology
•
Combination with Walmart supply chain
Value Proposition
•
Convenient, Low-Cost and Accessible healthcare services
•
Affordable Urgent Care
•
Integration with other Walmart Services such as Pharmacy and supplies.
Customer Relationship
•
Follow-Up Services and Reminders
•
Transparent pricing and Billing
Channels
•
Physician Clinics within Walmart Stores as well as Telehealth services
•
Collaborations with local healthcare primary care providers/specialists and hospitals
•
Marketing through Walmart’s communication channels.
Customer Segments
•
Local Residents
•
Low-Income Families
•
Busy Families
•
Walmart Shoppers
•
Employees of nearby businesses
•
Tourists and travelers
Cost Structure
•
Employee salaries and benefits such as Registration Staff, Nurses and Doctors
•
Medical Equipment such as Xray Machines, Laboratory Testing, •
Medical Supplies such as syringes, bandages, ice packs, etc…
•
Marketing and promotional costs
•
Visit Costs
•
Contracts with Insurances
Revenue Streams
•
Urgent Care Service Fees (both technical and professional)
•
Health Insurance Partnerships
•
Tiered pricing depending on income qualifications
•
Financial Assistance/Charity Care
10: References
5 Benefits of Urgent Care: Omni-Med Family Care & Urgent Care: A Private Medical Practice
. (n.d.). Www.omnimedmd.com. https://www.omnimedmd.com/blog/5-benefits-of-urgent-care
Pereira, D. (2023, March 23). Walmart SWOT Analysis (2023)
. The Business Model Analyst. https://businessmodelanalyst.com/walmart-swot-analysis/
Clinton 8890 Family Practice Exam Table w/Patient Step
. (n.d.). ExamTablesDirect.com. Retrieved February 11, 2024, from https://www.examtablesdirect.com/products/clinton-8890-family-practice-exam-table-w-patient-step.html?
utm_source=google&utm_medium=ppc&utm_campaign=&utm_term=&utm_
content=&gad_source=1&gclid=CjwKCAiA_
aGuBhACEiwAly57MfkN9mlBABdqXClfa8DHA8jZHo-yBx_bjSFpe1NqRttyGUl_BEj-4RoCSW8QAvD_BwE TXR 40kW Stationary Digital X-Ray Machine
. (n.d.). Dicom Solutions. Retrieved February 11, 2024, from https://dicomsolutions.com/product/txr-40kw-stationary-digital-x-ray-machine/ Lab Startup Equipment List and Average Costs
. (2021, June 10). Charter Capital. https://charteraz.com/2021/06/10/lab-startup-equipment-list-average-costs/ Walmart. (2024). About Walmart
. Walmart; corporate.walmart.com. https://corporate.walmart.com/about
Your preview ends here
Eager to read complete document? Join bartleby learn and gain access to the full version
- Access to all documents
- Unlimited textbook solutions
- 24/7 expert homework help
Recommended textbooks for you
Purchasing and Supply Chain Management
Operations Management
ISBN:9781285869681
Author:Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. Patterson
Publisher:Cengage Learning
Recommended textbooks for you
- Purchasing and Supply Chain ManagementOperations ManagementISBN:9781285869681Author:Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. PattersonPublisher:Cengage Learning
Purchasing and Supply Chain Management
Operations Management
ISBN:9781285869681
Author:Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. Patterson
Publisher:Cengage Learning