Harvard Case - Proximie: Using XR Technology to Create Borderless Operating Rooms
"Proximie: Using XR Technology to Create Borderless Operating Rooms" Harvard business case study is written by Ariel D. Stern, Alpana Thapar. It deals with the challenges in the field of Operations Management. The case study is 25 page(s) long and it was first published on : Mar 22, 2022
At Fern Fort University, we recommend that Proximie focus on a strategic expansion strategy that leverages its existing XR technology platform to create a comprehensive ecosystem for remote surgical collaboration. This ecosystem should encompass a range of services, including training, simulation, and real-time surgical guidance, while prioritizing user experience, data security, and regulatory compliance. This approach will enable Proximie to establish itself as a global leader in the field of remote surgery and achieve long-term sustainable growth.
2. Background
Proximie is a company that has developed an innovative XR technology platform for remote surgical collaboration. The platform enables surgeons to connect with colleagues and experts around the world, providing real-time guidance and support during complex procedures. The case study highlights Proximie's early success in establishing a presence in the market and attracting interest from hospitals and surgeons. However, the company faces challenges in scaling its operations, securing funding, and navigating the regulatory landscape.
The main protagonists in the case study are:
- Dr. Nic Demos, Proximie's founder and CEO, who is passionate about using technology to improve healthcare outcomes.
- Dr. David Rubin, a leading surgeon who is an early adopter of Proximie's technology and serves as a key advisor to the company.
- The Proximie team, a group of engineers, developers, and healthcare professionals who are dedicated to developing and deploying the company's XR platform.
3. Analysis of the Case Study
Proximie's success hinges on its ability to navigate the complex landscape of healthcare technology adoption. To analyze the case study, we can use the Porter's Five Forces framework:
- Threat of New Entrants: The barrier to entry in the remote surgery market is high due to the need for significant capital investment in technology, regulatory approvals, and expertise in both healthcare and XR technology. This presents a moderate threat to Proximie.
- Bargaining Power of Buyers: Hospitals and surgeons have a high bargaining power as they are the primary customers for Proximie's services. However, the value proposition of Proximie's platform can create a strong competitive advantage.
- Bargaining Power of Suppliers: Proximie relies on a network of technology suppliers, which presents a moderate threat due to the potential for price fluctuations and supply chain disruptions.
- Threat of Substitute Products: While other telemedicine platforms exist, Proximie's unique XR technology provides a distinct advantage, making the threat of substitutes relatively low.
- Competitive Rivalry: The remote surgery market is still emerging, but competition is expected to increase as more players enter the field. Proximie needs to differentiate itself through its technology, service offerings, and strategic partnerships.
4. Recommendations
Proximie should implement the following recommendations to achieve sustainable growth:
1. Expand Service Offerings:
- Develop a comprehensive training and simulation platform: This will allow surgeons to practice complex procedures in a safe and controlled environment, enhancing their skills and confidence.
- Offer real-time surgical guidance for a wider range of procedures: Proximie should expand its platform to support a broader spectrum of surgical specialties, increasing its market reach and value proposition.
- Develop data analytics capabilities: Proximie can leverage the data collected through its platform to provide insights into surgical outcomes, identify areas for improvement, and develop personalized training programs.
2. Strengthen Partnerships and Collaborations:
- Partner with leading medical device companies: This will allow Proximie to integrate its platform with existing surgical equipment, creating a seamless user experience.
- Collaborate with medical schools and training institutions: This will help Proximie establish its platform as the standard for surgical training and education.
- Engage with regulatory bodies: Proximie needs to actively participate in the development of regulatory frameworks for remote surgery, ensuring the safety and efficacy of its technology.
3. Focus on User Experience and Data Security:
- Develop a user-friendly interface: The platform should be intuitive and easy to use, even for surgeons who are not tech-savvy.
- Ensure robust data security and privacy: Proximie must prioritize data security and privacy to maintain user trust and comply with regulations.
- Provide comprehensive support and training: Proximie should offer dedicated support and training resources to help users maximize the benefits of its platform.
5. Basis of Recommendations
These recommendations are based on the following considerations:
- Core competencies and consistency with mission: Proximie's core competency lies in its XR technology platform, which aligns with its mission to improve surgical outcomes through remote collaboration.
- External customers and internal clients: The recommendations focus on addressing the needs of both surgeons and hospitals, ensuring a strong value proposition for all stakeholders.
- Competitors: Proximie needs to differentiate itself from competitors by offering a more comprehensive and user-friendly platform, while also focusing on data security and regulatory compliance.
- Attractiveness: The recommendations are expected to enhance Proximie's market position, increase revenue, and improve profitability.
6. Conclusion
Proximie has the potential to revolutionize the field of surgery by leveraging its innovative XR technology platform. By focusing on a strategic expansion strategy that encompasses a comprehensive ecosystem of services, strengthens partnerships, and prioritizes user experience and data security, Proximie can establish itself as a global leader in remote surgical collaboration.
7. Discussion
Other alternatives not selected include:
- Focusing solely on a specific surgical specialty: This approach could limit Proximie's market reach and growth potential.
- Developing a standalone hardware device: This could be a costly and time-consuming endeavor, potentially diverting resources from the core technology platform.
Key risks and assumptions:
- Regulatory approval: The regulatory landscape for remote surgery is still evolving, and obtaining approvals for Proximie's platform could be challenging.
- Market adoption: The success of Proximie's strategy depends on the willingness of hospitals and surgeons to adopt its technology.
- Competition: The emergence of new competitors could erode Proximie's market share.
8. Next Steps
Proximie should implement the following steps to achieve its strategic goals:
- Develop a detailed implementation plan: This plan should outline the specific actions, timelines, and resources required to execute the recommendations.
- Secure funding: Proximie will need to secure sufficient funding to support its expansion plans and product development efforts.
- Build a strong team: Proximie should recruit and retain top talent in the fields of XR technology, healthcare, and business development.
- Monitor progress and make adjustments: Proximie needs to continuously monitor its progress and make adjustments to its strategy as needed.
By taking these steps, Proximie can position itself for long-term success in the rapidly evolving field of remote surgery.
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Case Description
In mid-January 2022, Nadine Hachach-Haram, founder and CEO of Proximie, was thinking about the company's growth plans. Launched in 2016, Proximie was a platform that enabled clinicians, proctors, and medical device company personnel to be virtually present in operating rooms (OR) where they would use mixed reality and a suite of digital audio and visual tools to communicate with, mentor, assist, and observe those performing procedures. The goal was to improve patient outcomes. The company had grown quickly, opening offices in Beirut, London, and Boston, and had 135 employees. Proximie's technology had been used in tens of thousands of procedures in over 50 countries and 500 hospitals. It had raised close to $50 million in equity financing and was now entering strategic partnerships to broaden its reach. In deploying its platform, Proximie also digitized and structured formerly uncaptured data from ORs, making it possible to build a novel database of rich surgical data and prepare an infrastructure for both analytics and for curating insights from users. Hachach-Haram aspired for Proximie to become a platform that powered every OR in the world. To achieve these goals, Hachach-Haram had to navigate several challenges as she scaled the company. She needed to carefully think about the company's partnership and data strategies. Which formula would position the company best for the next stage of growth?
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