HEALTHCARE: UNSEXY —> SEXYand what I learned along the way

Nikolai Bratkovski CEO, Opencare

UNSEXYsocial meme image

UNSEXYsocial meme image

10% of all diagnostic imaging in Canada

2004

5 locations across GTA, expanding to Florida

2009

HEALTHCARE CONCIERGE

LATE TO THE GAME

GLOBAL HEALTHCARE MARKET

$5.5T

$16B US Taxi Industry

NO ONE IS WINNING

WE CHOOSE DOCTORS THE SAME WAY WE CHOOSE LUNCH

THE FUTURE

1.0Directory Enhanced directory Personal Healthcare Expert

Address, phone number 1.0+ Reviews, availability Data-driven recommendations

2.0 3.0

GLOBAL HEALTHCARE MARKET

$5.5T

$16B US Taxi Industry

GLOBAL HEALTHCARE MARKET

$3T $2.5T

$16B US Taxi Industry

NICHE WITH BROKEN DISCOVERY

healthcare providers in private practices

1.5 MILLION

$800BSpent on healthcare providers

(outside of hospitals)

search for healthcare providers online every year

70 MILLION

$16BHealthcare providers spend on marketing

• 500M searches • 1B appointments

Your Personal Healthcare Expert

UNSEXYsocial meme image

UNSEXYsocial meme image

THERE IS NO MAGIC TO SUCCESSFUL HEALTHCARE PRODUCTS

EVERYONE IS MAKING THE SAME MISTAKES

(INCLUDING US)

EVERYONE IS MAKING THE SAME MISTAKES ACROSS ALL INDUSTRIES

PRODUCT MANAGEMENT = PRIORITIZATION

PRODUCT MANAGEMENT = MAXIMUM VALUE WITH LEAST

RESOURCES

PRIORITIZATION IS BROKEN

1. Customer Discovery 2. Business Model 3. Focus

Healthcare Alert: Regulations

HEALTHCARE ALERT: REGULATIONS

REGULATIONS PARADOX: EMRS & VCS

REGULATIONS SUMMARY

1. Build what customer wants 2. Sell it 3. Find the right lawyer 4. Be creative and invest minimum resources to navigate or

satisfy regulations

1. CUSTOMER DISCOVERY

No data = no knowledge Not enough data = no knowledge

~$300/hr to run 3 person product team ~$900/hr to run 10 person startup

Sounds like common sense? Seen only few companies do it well

1. CUSTOMER DISCOVERY

AD-HOC

B2B

CONTINUOUS

B2B +

B2C

B2B VS B2C

Paid to think about their problems

Don’t even realize they have a problem

FIREHOSE OF CUSTOMER DATA

• In-product chat • Concierge service • Button to concierge • Phone conversations • In-person interviews • Cohort analysis • Surveys • Advertising experiments • More

EMERGING ROLE: USER RESEARCHER

2. BUSINESS MODEL

MONEY IS THE BEST METRIC OF VALUE CREATION

PATIENT FUNNEL

PATIENT FUNNEL PRODUCT MARKET FIT=

HEALTHCARE ALERT: STAKEHOLDERS

KEEP IT SIMPLE

3. LASER FOCUS

PLAYBOOK

SUMMARY

1. Healthcare is a massive market with a lot of broken parts 2. Forget about regulations 3. Focus on your customers to build what they want 4. Figure out who will pay 5. Laser focus on one segment of customers 6. Build playbook 7. Scale

QUESTIONSNikolai Bratkovski

nikolai@opencare.com

We are hiring: careers.opencare.com