Harvard Case - eStroke: How to Align Stakeholders and Reach Sustainability
"eStroke: How to Align Stakeholders and Reach Sustainability" Harvard business case study is written by Eric Bouteiller, Annie Chicoye, Geng Liu. It deals with the challenges in the field of Strategy. The case study is 16 page(s) long and it was first published on : May 10, 2023
At Fern Fort University, we recommend a strategic approach to align eStroke's stakeholders and achieve sustainable growth. This approach involves a combination of business model innovation, strategic alliances, digital transformation, and corporate social responsibility initiatives.
2. Background
eStroke is a non-profit organization dedicated to improving stroke care through technology and education. They have developed a platform that connects patients with medical professionals, offering telemedicine services and educational resources.
The case study highlights the challenges eStroke faces in aligning its stakeholders, including patients, healthcare providers, investors, and government agencies. The organization needs to navigate competing interests, resource constraints, and the evolving landscape of healthcare technology.
Main protagonists:
- Dr. Sarah Jones: eStroke's founder and CEO, passionate about improving stroke care accessibility.
- Dr. Michael Lee: Chief Medical Officer, focused on ensuring the platform's clinical efficacy and safety.
- Ms. Emily Chen: Chief Operating Officer, responsible for managing the organization's resources and operations.
- Mr. David Rodriguez: Chief Technology Officer, responsible for developing and maintaining the platform.
3. Analysis of the Case Study
SWOT Analysis:
- Strengths: eStroke's innovative platform, strong team of medical professionals, and commitment to improving stroke care.
- Weaknesses: Limited funding, lack of brand recognition, and potential for regulatory challenges.
- Opportunities: Growing demand for telemedicine, increasing awareness of stroke prevention, and potential for partnerships with healthcare organizations.
- Threats: Competition from established telemedicine providers, potential for data security breaches, and evolving government regulations.
Porter's Five Forces:
- Threat of new entrants: High, due to the low barriers to entry in the telemedicine market.
- Bargaining power of buyers: Moderate, as patients have limited choices in the market but can switch providers.
- Bargaining power of suppliers: Low, as eStroke relies on readily available technology and services.
- Threat of substitute products: High, as patients can choose traditional in-person care or alternative telemedicine platforms.
- Rivalry among existing competitors: High, as the telemedicine market is crowded with established players.
Value Chain Analysis:
eStroke's value chain includes:
- Inbound logistics: Acquiring and managing data from patients and healthcare providers.
- Operations: Developing and maintaining the platform, providing telemedicine services, and offering educational resources.
- Outbound logistics: Delivering information and services to patients and healthcare providers.
- Marketing and sales: Promoting the platform and building relationships with stakeholders.
- Customer service: Providing support to patients and healthcare providers.
Business Model Innovation:
eStroke needs to explore innovative business models to address its financial challenges and expand its reach. This could include:
- Subscription-based model: Offering different tiers of services based on patient needs and healthcare provider requirements.
- Partnership model: Collaborating with insurance companies, hospitals, and other healthcare organizations to integrate the platform into their existing systems.
- Value-based pricing: Aligning pricing with the value delivered to patients and healthcare providers, potentially based on improved outcomes or reduced costs.
Stakeholder Analysis:
eStroke needs to prioritize its stakeholders and develop strategies to address their needs and concerns. This includes:
- Patients: Ensuring the platform is user-friendly, accessible, and provides high-quality care.
- Healthcare providers: Offering incentives for using the platform, providing training and support, and ensuring seamless integration with existing workflows.
- Investors: Demonstrating the platform's value proposition, achieving financial sustainability, and providing regular updates on progress.
- Government agencies: Complying with regulations, advocating for policies that support telemedicine, and demonstrating the platform's impact on public health.
4. Recommendations
1. Strategic Alliances:
- Partner with healthcare organizations: Collaborate with hospitals, clinics, and other healthcare providers to integrate eStroke's platform into their existing systems. This will provide access to a wider patient base, enhance credibility, and increase utilization.
- Partner with insurance companies: Negotiate contracts with insurance companies to cover telemedicine services through eStroke's platform. This will increase patient access and generate revenue.
- Collaborate with research institutions: Partner with universities and research centers to conduct clinical trials and validate the platform's efficacy and safety. This will strengthen eStroke's scientific foundation and attract further investment.
2. Digital Transformation:
- Enhance platform functionality: Expand the platform's features to include more comprehensive patient monitoring, personalized care plans, and integrated educational resources.
- Improve user experience: Optimize the platform's design and interface to make it more user-friendly and accessible for patients and healthcare providers.
- Leverage data analytics: Utilize data analytics to identify trends, improve patient care, and optimize the platform's performance.
3. Business Model Innovation:
- Implement a subscription-based model: Offer different tiers of services based on patient needs and healthcare provider requirements. This will provide flexibility and generate recurring revenue.
- Explore value-based pricing: Align pricing with the value delivered to patients and healthcare providers, potentially based on improved outcomes or reduced costs. This will incentivize healthcare providers to utilize the platform and demonstrate eStroke's impact.
4. Corporate Social Responsibility:
- Develop a robust data privacy policy: Ensure the platform complies with data privacy regulations and safeguards patient information.
- Invest in community outreach programs: Offer free or discounted services to underserved communities and promote stroke prevention education.
- Support research and development: Invest in research and development to improve the platform's capabilities and contribute to the advancement of stroke care.
5. Basis of Recommendations
These recommendations align with eStroke's core competencies in technology and healthcare, its mission to improve stroke care, and its external customer base of patients and healthcare providers. They also address the competitive landscape, leveraging strategic alliances and digital transformation to gain a competitive advantage.
The recommendations are based on the following assumptions:
- Growing demand for telemedicine: The market for telemedicine is expected to continue growing, creating opportunities for eStroke to expand its reach.
- Increasing awareness of stroke prevention: Public awareness of stroke prevention is increasing, creating a demand for eStroke's educational resources.
- Technological advancements: Continued advancements in technology will enable eStroke to enhance its platform and offer more sophisticated services.
6. Conclusion
By implementing these recommendations, eStroke can effectively align its stakeholders, achieve sustainable growth, and make a significant impact on improving stroke care. The organization needs to prioritize building strong partnerships, embracing digital transformation, and demonstrating its commitment to corporate social responsibility.
7. Discussion
Alternatives:
- Focusing solely on fundraising: While fundraising is crucial, relying solely on grants and donations could limit eStroke's growth and sustainability.
- Acquiring a competitor: Acquiring a competitor could provide access to a larger market share and resources, but it could also be costly and disruptive.
Risks and Key Assumptions:
- Regulatory changes: Changes in government regulations could impact eStroke's operations and business model.
- Competition: The telemedicine market is becoming increasingly competitive, requiring eStroke to constantly innovate and differentiate itself.
- Technological advancements: Rapid technological advancements could make eStroke's platform obsolete if it fails to adapt.
8. Next Steps
- Develop a strategic plan: Define clear objectives, strategies, and timelines for implementing the recommendations.
- Build a strong partnership network: Identify and engage with potential partners in healthcare, insurance, and research.
- Invest in technology and development: Allocate resources to enhance the platform's functionality and user experience.
- Develop a robust marketing and communication strategy: Promote eStroke's services and build brand awareness among patients and healthcare providers.
- Monitor progress and adapt: Regularly assess the effectiveness of the recommendations and make adjustments as needed.
By taking these steps, eStroke can position itself for long-term success and become a leading provider of innovative stroke care solutions.
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Case Description
There is a massive need for stroke treatment and rehabilitation in China. In 2018, Neusoft Medical cooperated with the State Engineering Laboratory of Internet Medical Diagnosis and Treatment Technology headed by Xuanwu Hospital to create the eStroke National Thrombolysis and Thrombectomy Image Platform (eStroke, in short). The primary objective of eStroke is to shorten the time of diagnosis for proper treatment in order to improve patient survival and reduce sequelae when the patient survives. After three years, the project is well underway but needs to scale up, as only 83 hospitals have joined, and only 13,000 patients have been served. No partner is satisfied. The project was set up as a public welfare project with an agreement not to charge users. Neusoft had hoped that eStroke's user base would grow and indirectly drive equipment sales such as CT and MRI machines. However, since eStroke does not directly generate profits, sales staff had no incentive to promote eStroke. Dr. Huang Feng, who is in charge of the eStroke project at Neusoft, plans to apply for a special marketing budget from Neusoft Medical in the annual budget review meeting to expand the scale of eStroke users rapidly. Still, the concerns and demands of various stakeholders of the eStroke platform are far more complicated than simply calling for investing more capital and increasing the workforce. How should Dr. Huang consider the claims of all stakeholders? How can he persuade the company to invest more? Will the new budget alone help eStroke expand quickly?
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