Harvard Case - Hitch Health: Transport Solution or Platform?
"Hitch Health: Transport Solution or Platform?" Harvard business case study is written by John McVea, Dan Mclaughlin. It deals with the challenges in the field of Entrepreneurship. The case study is 12 page(s) long and it was first published on : Sep 20, 2018
At Fern Fort University, we recommend Hitch Health pursue a platform strategy. This involves developing a comprehensive platform that connects patients, healthcare providers, and transportation services in a seamless and efficient manner. This approach leverages Hitch Health's existing strengths in transportation logistics and expands its value proposition to become a central hub for healthcare access and coordination.
2. Background
Hitch Health is a startup company founded by two entrepreneurs, Matt and John, with a vision to improve healthcare access for underserved communities. The company initially focused on providing non-emergency medical transportation (NEMT) services, leveraging technology and analytics to optimize routes and ensure timely patient pickups.
However, Hitch Health faces a critical juncture as it considers its future growth strategy. The company needs to decide whether to remain focused on its core NEMT business or expand into a broader healthcare platform. This decision hinges on the potential for innovation, scalability, and competitive advantage in a rapidly evolving healthcare landscape.
3. Analysis of the Case Study
To analyze Hitch Health?s options, we can utilize the Porter?s Five Forces framework to understand the competitive landscape and the Business Model Canvas to evaluate the viability of different strategies.
Porter?s Five Forces:
- Threat of New Entrants: The NEMT market is relatively fragmented, with potential for new entrants. However, Hitch Health?s technology and data-driven approach create a barrier to entry.
- Bargaining Power of Buyers: Patients have limited bargaining power due to their need for transportation services. However, healthcare providers have some leverage in negotiating rates and service quality.
- Bargaining Power of Suppliers: Hitch Health relies on drivers and transportation providers, which can impact costs and service availability.
- Threat of Substitutes: Alternative transportation options, such as ride-sharing services, could pose a threat, but Hitch Health?s focus on healthcare-specific needs provides a niche.
- Competitive Rivalry: The NEMT market is competitive, with established players and emerging startups. Hitch Health needs to differentiate itself through its technology, service quality, and value proposition.
Business Model Canvas:
- Value Propositions: Hitch Health?s core value proposition is providing reliable and efficient NEMT services. Expanding to a platform could offer additional value propositions, such as appointment scheduling, medication reminders, and healthcare information access.
- Customer Segments: Hitch Health?s target customers include patients, healthcare providers, and insurance companies. A platform strategy could broaden its customer base by attracting individuals seeking healthcare information and services.
- Channels: Hitch Health?s current channels include direct sales, partnerships with healthcare providers, and online platforms. A platform strategy would require expanding its digital presence and developing partnerships with technology companies.
- Customer Relationships: Hitch Health currently focuses on providing personalized and responsive customer service. A platform strategy would necessitate building a robust customer support system to handle a larger volume of interactions.
- Revenue Streams: Hitch Health?s current revenue stream is generated through NEMT services. A platform strategy could diversify revenue through subscription fees, advertising, and data analytics services.
- Key Resources: Hitch Health?s key resources include its technology platform, driver network, and data analytics capabilities. A platform strategy would require investing in additional resources, such as software development, marketing, and customer support.
- Key Activities: Hitch Health?s key activities include transportation logistics, customer service, and data analysis. A platform strategy would require expanding its activities to include software development, content creation, and marketing.
- Key Partnerships: Hitch Health currently partners with healthcare providers and transportation providers. A platform strategy would require forming new partnerships with technology companies, healthcare information providers, and insurance companies.
- Cost Structure: Hitch Health?s cost structure includes driver salaries, vehicle maintenance, and technology development. A platform strategy would require additional investments in software development, marketing, and customer support.
4. Recommendations
Hitch Health should pursue a platform strategy with the following key elements:
- Develop a comprehensive platform: This platform should integrate NEMT services with additional features such as appointment scheduling, medication reminders, healthcare information access, and telehealth capabilities.
- Expand its customer base: Hitch Health should target individuals seeking healthcare information and services, as well as healthcare providers, insurance companies, and technology companies.
- Leverage technology and data analytics: Hitch Health should utilize its existing technology platform and data analytics capabilities to personalize services, optimize routes, and provide insights into healthcare utilization patterns.
- Build strategic partnerships: Hitch Health should form partnerships with healthcare providers, insurance companies, technology companies, and other relevant stakeholders to enhance its platform?s functionality and reach.
- Invest in marketing and branding: Hitch Health should develop a strong marketing strategy to promote its platform and build brand awareness among its target customers.
5. Basis of Recommendations
This recommendation aligns with Hitch Health?s mission to improve healthcare access and leverages its core competencies in transportation logistics and technology. By expanding into a platform, Hitch Health can create a more comprehensive and valuable service for patients, healthcare providers, and other stakeholders.
The platform strategy also offers significant potential for growth and scalability, enabling Hitch Health to capture a larger share of the healthcare market.
This approach is also consistent with the current trends in healthcare, which are characterized by increasing demand for convenient and accessible healthcare services, the adoption of technology, and the need for data-driven insights.
6. Conclusion
By embracing a platform strategy, Hitch Health can transform itself from a transportation provider into a leading healthcare platform. This approach will enable the company to achieve significant growth, expand its customer base, and create a more sustainable and impactful business model.
7. Discussion
Alternative options include focusing solely on the NEMT business or pursuing a hybrid approach that combines NEMT services with limited platform features. However, these options offer less potential for growth and competitive advantage compared to a comprehensive platform strategy.
The platform strategy does present some risks, including the need for significant investment in technology and marketing, the potential for competition from established players, and the challenges of integrating different healthcare systems. However, these risks can be mitigated through careful planning, strategic partnerships, and a focus on innovation.
8. Next Steps
Hitch Health should implement the platform strategy in a phased approach:
Phase 1 (Year 1):
- Develop the core platform features, including appointment scheduling, medication reminders, and healthcare information access.
- Launch a pilot program with select healthcare providers and patients.
- Secure funding for platform development and marketing.
Phase 2 (Year 2):
- Expand platform functionality to include telehealth capabilities and data analytics features.
- Increase marketing efforts to reach a wider audience.
- Form strategic partnerships with technology companies and insurance companies.
Phase 3 (Year 3):
- Optimize platform performance based on user feedback and data analytics.
- Expand into new markets and explore international expansion opportunities.
- Consider going public or pursuing other exit strategies.
By following this timeline, Hitch Health can successfully transition from a transportation provider to a leading healthcare platform, improving access to healthcare and creating a sustainable and profitable business.
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Case Description
In April 2017, the co-founder and vice-president of Hitch Health in Minneapolis Minnesota was faced with an intriguing but challenging strategy decision. Hitch Health had been created as part of Upstream Health Innovations at Hennepin County Medical Center to improve transportation services for its many vulnerable patients. By using human-centred design, Hitch Health had succeeded in developing a system of ride sharing and sophisticated information technology that met its initial goal of reducing missed appointments. However, the development of Hitch Health had also presented a new opportunity to engage patients in many aspects of their own care. The co-founder realized that she had to make a key strategy decision. Was Hitch Health just a practical solution to Hennepin County Medical Center's transportation problem? Could it solve transportation problems at similar hospitals across the country? Could it be an idea big enough to serve as a platform with the potential to disrupt health care delivery?
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