trinidad medical aid presentation 7 revenue stream.pptx

8/14/2019 Trinidad Medical Aid Presentation 7 Revenue stream.pptx

1/11

Presented by:Arundranath Mahase

Kerry WilsonNigel Garcia

Cleve Chadee

Trinidad Medical Aid

Delivering to your doorstep


2/11

Business Model Canvas

Cost structure Revenue streams

Key resources Channels

Key

activitiesKey partners Valueproposition

Costumerrelationships

Costumersegments

Rent

Wages

Transport maintenance

Fuel

Staff/Labor

Location

Transportation/Vehicle

Stationary cost

Processing of customer

requests

Locating of

medications

Procurement

Delivery of medications

Get- Loyalty, Personal

interaction, Word of mouth,

Social Media

Keep- loyalty bonus, customer

service, Competitions

Growreferral customers , misc.

items,

Exclusive Government Contractual Agreement

Special Requests (Disaster Relief etc.)

Non-Govt payments by set fees

Daily customers (prescription and over the counter drugs)

Subscription fee (yearly)/ Usage fee

Advertising on website

Ministry of Health

Ministry of the People

and Social Development

(NIPDEC)

Ministry of Planning

and Sustainable

Development

C40 Central Stores

Pharmacies

Delivery

Facebook

Email

Fax telephone

Patients of Public

Health Institutions

CDAP users outside

of Public Health

institutions.

Public users

interested in the

service

Convenience

Reliability

Saves time and

money

Omits hassles in

Sourcing

Medications.


3/11

HYPOTHESES AND TESTINGRevenue model

Direct sales force located in north, east and west for deliveries.

Providing the service for the Government

Advertisements on Website

Pricing tactics

Fixed price for service = Price + markup


4/11

In surveying approx. 10 potential customers from various customer segments. Questions such as how valuablethe customers thought the business was and how much will they be willing to pay.

Investigations as to how much is charged for similar delivery services. Since there was found to be no knownservice like ours we looked at different delivery service charges. Courier services seem to be the market closestto ours.

Some rates were as follows:-

TTPOST

Charge by Weight

$31 up to 15kg and additional $29 for an excess of 5kg

Jet Box

Charge by Location Ground local Courier Rates

East - $57

West - $46

North - $26.45

South - $80.50

Central - $63.25 On Forward areas eg Point Fortin, Mayaro etc - $287.50

NB: An additional TTD3.50 per lb after 5lbs to all zones. All prices are vat inclusive

Exploring additional ways of achieving discounts such as Medicard, which offers average discounts of 10% atnumerous pharmacies throughout Trinidad and Tobago.


5/11

Payment Flow Diagram Daily customers (prescription and

over the counter drugs)

PAYMENT

ACTIVITES

Exclusive Government

Contractual Agreement

Special Requests

(Disaster Relief etc.)

Subscription fee ( yearly)


6/11

INSIGHTS 60% of customers were confortable with the price of $20 per delivery,

some were willing to offer more.

40% of the customers said that a yearly subscription would be practicalseeing that most persons use medication regularly.

Customers wanted to know if they got discount on both deliveryand medication using medicard.

At least 1 customer is only concerned with receiving medication and willhandle insurance claim when they get the receipt.


7/11

Hypothesis: Heres what we thought

An across the board charge of $20.00 was to be applied to alldeliveries.

Price will be based on an acceptable figure based on previousgroundwork.


8/11

Experiments: So heres what we did

Started charging flat price of $20.00 for alldeliveries made.

Continued our strategies for getting customers.

All new customers were assessed for potential acceptanceinto keep section of funnel.


9/11

Results: So heres what we found

We got two clearly defined customer segments:1. One-off delivery customers2. Refill order customers

Based on this development, we found two revenue

streams.

Customers saw two different values, i.e. different fixedpricing tactics can be used:

1. Pay for when wanted.2. Need frequently so I will be paying regularly.

Usage fees and subscription fees.


10/11

Iterate: So heres what we are going to do next

Finalize our different prices.

Conduct more sales.

Engage partners who may in turn influence pricing tactics.

Set goals for the number of payers we would like to have tosustain business.


11/11

Trinidad Medical Aid

Delivering to your doorstep

THANK YOU!QUESTIONS ?

Contact [email protected] 732-9968 , East 790-4573,

Central 781-2401, South Coming soonFacebookTrinidad Medical AidBlog - http://trinidadmedicalaid.blogspot.com/WebsiteUnder-construction

trinidad medical aid presentation 7 revenue stream.pptx

Documents