Two leading Silicon Valley venture capital funds were incubating a seed stage telemedicine company that proposed to leverage nurse practitioners as an alternative for certain primary care conditions. The investors sought out Health Business Group to assist in understanding the market landscape and segmenting prospective customers. We were compensated with a combination of cash and equity in the new venture.
We worked closely with the entrepreneurs and investors to:
- Identify, profile, and estimate the size of target customer segments
- Identify distribution partners and models, then evaluate the implications of channel partner choices by target customer segment
- Lay out alternative pricing structures, estimate target fee ranges and variations by service type
- Identify services, functionality and workflow components of interest to target customer segments
- Identify criteria for conditions that could be diagnosed and treated
- Predict the timing and rate of uptake for the offering
We developed a set of personas corresponding to the customer segments and used these to help the entrepreneurs tell the story of the market opportunity. Our work formed a key part of the business plan that was pitched to prospective Series A investors.
Ultimately the company determined that regulatory barriers were too high to proceed and the venture was dissolved.