Digital Innovation VR & AR in Health Care Industry †Free Samples

Question: Discuss about the Digital Innovation VR AR in Health Care Industry. Answer: Introduction The report provides an insight into the changing scenario regarding the use of Virtual Reality and Augmented Reality by the medical professional. In the recent time there are multiple changes introduced in medical industry in Australia. With a fastest changing and developing industry it has become important to use the tools in the context of the current market capabilities. This will be helpful for understanding the future prospect of an issue related to a problem (Ma, Jain and Anderson, 2014). The report highlights the business model and canvas related to the start-up- Clinicloud. Further analysis regarding the changing business trends helps in guaranteeing sustainability. With the changing scenario, it has become to align the project in order to gain total value. AccuVein helps in providing with locate patients' veins more precisely for injections. VA-ST is helping those with an impaired vision. There are different apps that are helping children and adults on the autism spectrum an d teach life skills. Surgical Navigation Advanced Platform (SNAP) lets physicians display their plans for a surgery. This helps patient and his family to understand the overall procedure. The augmented technology Saagara is aimed at improving individuals' general physical/mental health and well-being using AR technologies They are looking out for an efficient utilization of technology in order to gain competencies. It is an effective organizational policy that is important to gain competencies in the changing business environment (Ma, Jain and Anderson, 2014). The overall purpose of gaining competencies is to meet the expectations of the customers. This can only happen if the customers are satisfied with the organization mission and value statement. It is however important to align the objectives of the organization with the business context (ADHA.2016). Workforce shortage is major issue seen in the Australian healthcare domain. However, with an increase in technology it has become important in Australian healthcare to improve the quality of life (ABS. 2016). Background of Organization The company began with a trial product and a simple idea to add technology with health care products. Clinicloud is instituted by Dr. Hon Weng Chong and Dr. Andrew Lin in 2012. The company won Microsoft Imagine Cup and gain acceptance around the world. Their products, knowledge and services are used by people around the world including the world's leading health care providers. Population is ageing, and physician shortages have reached to an all time high level. Clinicloud is providing with an affordable, smart and spontaneous medical devices and services that anyone can access (Clinicloud, 2017). Business model canvas in the context of Virtual Reality and Augmented Reality Clinicloud is providing with multiple health care solution with the virtual and augmented technology. VR and AR allow in making applicable research and development in the project. Customers are more aware about the changes taking place in the Health care environment. Augmented reality has come up as an effective tool for meeting an individual needs related to health (Frost, Sullivan. 2015; Greenwald et al 2017). Infrastructure Key Activities: The purpose of managing the significant activities is to add value proposition. Clinicloud is efficiently implying the business model by connecting the VR with the real world. The products are sold through the online shop and are also available at the offline store. This is only possible if the company is able to create a well-organized supply chain to reduce the costs (Peter Fisher David Unwin 2003). Key Resources: The key resources used by the company are its employees who create value for the customer. In order to gain competency, they are considering on managing the assets of the company needed to sustain and support the business. They have well defined capital like: human, monetary, physical and intellectual. Partner Network: The rationale is to optimize operations and diminish threat. Clinicloud is developing relationship with the other healthcare organization. They are focusing on nurturing buyer-supplier relationships (Di Serio, Ibez and Kloos, 2013). The core competency of Clinicloud is its health care product which includes Thermometer, Stethoscope and the other health care products. Complementary business alliances also considered in order to provide promising facilities. Clinicloud is ISO13485 organization and CFR 820 submissive manufacturer. All the products are FDA, CE, TGA and Health Canada approved. They are complying with the standards established by US HIPAA and European Data Privacy regulations. Alignment of business model and value proposition Offering Value Propositions: The compilation of products and services by Clinicloud offers various needs to its customers. The value proposition differentiates itself from its competitors. The company provides value through elements like innovation, performance, and customization. The value propositions of the brand are its: Price and efficiency- The health care products are bit expensive but serves the need of customers. They are viable in terms of longevity and provide 100 percent assurance. Overall customer experience and outcome- The customers review regarding the product is good. Maximum numbers of customers is happy and recommend other buyers to use the product (Ong Nee, 2013). Identification of the different customer segments: Customer Journey In order to reach to the customer Clinicloud is dependent on a customer journey cycle. The journey starts with creating product awareness. In this process, a general awareness through TV, Advertisement is created to gain their interest. Next stage is regarding consideration where the company creates awareness through media, review etc. Consumers purchase the product through store or e-commerce website. Next stage is important in terms of retention for a longer time period. Lat stage is promotion where customers acknowledge products and motivate others to use it (Lemon and Verhoef, 2016). Customer Segments: It is significant to appreciate the different customers mindset in order to gain consistency. To construct an effectual business model, Clinicloud has recognized potential customers need. It has segmented the market according to the customer needs and based on it, the company has attributed in an effective way by appropriate implementation of corporate strategy (Biocca and Levy, 2013). The start-up has met up the characteristics of selected group of clients. The diverse types of customer segments include: Mass Market: It includes the healthcare practitioner. The practitioners are using the element by displaying an extensive sight of potential clients. Niche Market: There are certain products customized according to the needs of the customers. Segmented: Clinicloud additional segmentation includes an international market. In the segmented situation, they further distinguish as per the needs of the patient. Channels: They are delivering products through various channels like online and offline store. Effective channels allow in reaching to the customer and helps in organizing individual value proposition cost effective manner. Customer Relationships: In order to ensure sustainability they have form relationship with the different organizations to make certain survival and success of any businesses. In order to gain competency they are identifying different type of relationship in order to generate customer segments. Different types of customer relationship include: Personal Assistance: support is provided in a form of employee-customer communication. These interactions help in gaining effective sales. For gaining longevity it is important to keep a check on sales, after sales, and/or both. Automated Services: It is a system that is parallel to self-service but more modified. It has an ability to identify entity customers and his/her inclination. There are few healthcare products that are provided according to the needs of the customers. Communities: By creating a community, it is possible for an individual through interaction among diverse customers and the company. Co-creation: The Company focuses on developing a personal relationship through customer's direct input in the final result of the company's products/services. Finances Cost Structuree: It explain the most significant financial cost while working under different business models (Ong and Nee, 2013). Value-Driven The business is driven by the cost. This business model focuses on creating value for their products and services. Clinicloud can gain market competency in gaining desired results. Recommendation VR AR is growing at a fast pace creating ample of opportunities for the business organization in todays changing business scenario. In order to gain competitiveness it is important to attain sustainability through application of Virtual Reality programs. It is a must exercise used by the health industry in todays competitive scenario. Technology up gradation is necessary in maintaining effectiveness. This is to gain development in the health industry and to develop progressive results. There are lot many opportunities available in the health care industry. The core competency of Clinicloud is its health care product which includes Thermometer, Stethoscope and the other health care products. There are other companies as well in the industry that are providing with a distinguished solution. In order to gain competency it is evident to develop an effective market strategies. In this way the company can attain effectiveness. There is a growing need of an Augmented and Virtual reality in hospital industry. With an increase in the number of patients and disease it is important for the Australian private hospital sector to develop technology. In this way they can gain a growth of 3-5% of total expense for technology. Moreover, with an initiation of technology, it will be good for the industry to meet the requisite growth. Conclusion The medicine industry will see a significant growth in coming years. This will allow in gaining sustainable results in the form of applications in the field of medicine like lab equipment, surgical and medical devices. There are multiple opportunities with Clinicloud to implant Virtual and augmented reality to understand health conditions in a better way. References ABS. (2016). Private Hospitals, Australia 2015-2016. Available at: https://www.abs.gov.au/ausstats/abs@.nsf/0/9CE80F2FCA2520D1CA2572EB001EFD85?Opendocument Accessed on: 31 Aug. 17 ADHA. 2016. National E-Health Transition Strategy. Available at: https://www.digitalhealth.gov.au/ Accessed on: 31 August 2017 Biocca, F. and Levy, M.R. eds., 2013.Communication in the age of virtual reality. Routledge. Bower, M., Howe, C., McCredie, N., Robinson, A., Grover, D. (2014). Augmented Reality in educationcases, places and potentials. Educational Media International, 51(1), 1-15. Clinicloud, 2017. Online. Available at: https://clinicloud.com/about-us/ Accessed on: 31 August 2017 Di Serio, ., Ibez, M. B., Kloos, C. D. (2013). Impact of an augmented reality system on students' motivation for a visual art course. Computers Education, 68, 586-596. 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