iCare Business Plan, Management Project

Saleem, Younus (2016) iCare Business Plan, Management Project. [Dissertation (University of Nottingham only)]

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Abstract

Exec Summary

iCare is a web based, healthcare consultation service, bringing doctors and HCPs (Health Care Professionals) to internet serving patient. iCare bridges the gap of communication/contact between doctors and patients. iCare makes healthcare access less complex, changing how patients seek medical assistance, information and advice. iCare main value proposition is providing remote video-link consultations to patients anywhere in the world except USA . Patients use a web-based platform (website or App), creating a short profile and select their condition/s from a pre-defined list. Through a list of ‘matching’ Health Care Professionals (HCP’s) a consultation is arranged allowing the patient to book a slot in the HCP’s diary. Patients pay a fixed fee for a fixed consultation time period depending on the rate of the HCP. The patient will be able to choose how they want their consultation, text only chat, voice only chat, or video chat (mainstay of the service). The solution will work on all platforms/devices including computers, tablets and smartphones.

iCare ensures that the patients see their doctor from the comfort of their own device, when they want, who they want, where they want and how they want. iCare will offer a new patient experience with a faster, convenient, comfortable, competitive, personalised health care where choice is not compromised. iCare will be akin to the ‘Facebook’ of fast access to healthcare, connecting people with doctors. In short bringing the doctor to their device

iCare’s will target the market of video-consultations in the UK and beyond. Market research shows this to be in millions generating strong customer base and potential income of £4.56m at 1% £20m at 5% £136.87m for 30% capture in UK alone. Our target customers in initial years will be private and NHS patients in the UK seeking fast access through video-link. They will be individuals with an income of £25K p.a. upwards.

The Model has already been tested and shown to be effective through our existing business PU-K (Psychiatry UK) which operates in the mental health area. This successful model will be rolled out to other specialities through iCare. The market, growth and forecasts are encouraging indicating positive sales for the next five years and beyond.

With logical financial assumption the business will generate sufficient cash flow to cover its expenses. The cash flow indicates that iCare break even at the end of 10 months which is an attractive investment proposal for the investors. The business will start making profits at the end of 13th month (calculated as per cumulative profit).

This business is looking to raise a total investment of £200k. Share capital will be issued equally with six founders with their own investment of £50K, at 60% and Investor funding of £150K at 40% stake in the business. The company is currently valued at £375K and is expected to be £1.9m in five years bringing 5 times the return in that time frame.

Item Type: Dissertation (University of Nottingham only)
Depositing User: Saleem, Younus
Date Deposited: 25 Apr 2018 13:17
Last Modified: 26 Apr 2018 01:31
URI: http://eprints.nottingham.ac.uk/id/eprint/33042

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