Periodic Reporting for period 1 - ThinkEHR Platform (Think!EHR Platform as vendor-neutral, open health data platform, designed for real-time, transactional health data storage enabling to go from idea to application in one hour.)
Reporting period: 2014-10-01 to 2015-02-28
1. Defining starting points for feasibility study, which have included Defining goals and key directions for preparing feasibility study and business plan, Defining prioritized and exclusive areas of feasibility study, Defining specific and measurable goals of Think!EHR Platform commercialization (ROI, Cash Flow,…)
2. Conducting market feasibility, including Defining target markets, size of the market, etc, Defining and description of main competitors, Analysis of Value Chain, Market trends, Defining key stakeholders (influencers, buyers, partners)
3. Conducting organizational feasibility including Identification of key personnel and profile of their competences, Definition of roles and responsibilities, Definition of organizational structure
4. Conducting SWOT analysis and definition of key risks including Defining SWOT analysis of Think!EHR Platform, Defining key risks and risk factors including proposed mitigation measures
5. Conducting technological feasibility including Description of Think!EHR Platform, AS-IS analysis (TRL 8) of existing Think!EHR Platform, TO-BE analysis (TRL 9) of future Think!EHR Platform
6. Conducting legal feasibility including: Definition of used technological and copyrights, Definition of compliance with legal framework, Review of international Intellectual properties rights
7. Conducting financial feasibility including: Definition of business model including: sources of revenue, distribution channels, costs for development, sales and supporting activities, Definition of licensing and pricing model, Sales and marketing strategy including: Positioning on the global market, defining strategic goals for Think!EHR Platform growth, Definition of measures and execution plan for achieving defined goals, definition of element of marketing tools
Main results achieved during the reporting period are:
• Starting points for preparing feasibility study and business plan (target markets, distribution and sales channels, budget, ROI, etc
• Drafted value chain and role of Think!EHR Platform within the value chain
• Defined market potential of Think!EHR Platform on target markets and target customers
• Identified key business and technological trends
• Defined project / company organization for commercialization of Think!EHR Platform
• Defied key personnel (roles) within the company and their responsibility at project execution and commercialization""
• Defined SWOT analysis
• Defined risk analysis with proposed mitigation measures""
• Defined gap analysis based on ""AS-IS"" Think!EHR Platform
• Description of """"TO-BE"" Think!EHR Platform
• Findings of detailed review of license rights, international copyright and definition
• Defined position of Think!EHR Platform on global market, sales strategy and elements of marketing strategy
• Defined business model (partners, activities, channels, product, value proposition,…)
• Estimated revenue and cost of sales for specific markets including financial projections and key indicators""
Based on outcomes of feasibility study we have prepared business plan which will include detailed marketing strategy for targeted markets, described target audience and stakeholders and methods of communication to approach each specific segment. Business plan is built on the information obtained in the feasibility study. Within the document we have explained our 5 years business goals, why and how these are attainable. Annual return on investment in that time frame is estimated in order to attract additional investors.