HMO Fraser General Hospital The New way to look at Life

Tapan Jana (02) Saroj Kamde (10) Suman Bakshi (13) Soumyadip Mistry (16) Rohit Singh (18)

Background of Project
Team of Doctors want to implement a New HMO which will offer medical facilities as well as demi science called Alternative Medicines covering all sorts of alternative treatment against some fixed monthly cost. Total annual cost of HMO is lower than Group Insurance plan. The dilemma was about another HMO which has been operating just 10 km away from the hospital. HMO plan restrict the patient from choosing their favourite hospitals and doctors and emphasized on preventive care. In spite of having a probable market doctors are skeptical about introducing the new HMO Plan due to heavy initial cost and risks attached to that as there are not so many customer for the plan.

Management Questions
Are there any similar concept or competitors exists in market? What is the demand of HMO in the market and who are the targeted customers? What is the possible market segmentation and potential size? What will be the expectation of the customers in terms of service, variety and benefit? How to position the HMO Plan so that it can offer variety of services as per customer preference as well as remain price sensitive? How to reach to the potential customers? What is the possibility of earning return on investment for Management?

Research Questions
What is the market segmentation ? Who are the target customer for new HMO? How to position the new HMO Plan to market? What are the Opportunities and threats? What array of services will make the new HMO Plan more successful? What is the fee structure of new HMO considering the price sensitivity?

Objectives
To provide medical facilities at a low cost and to earn a substantial profit which will be a win-win situation for both hospital and patients. This new HMO service will enable the hospital to maximize the bed utilization rate resulting a higher revenue. This new HMO service will also enable to develop new teaching program in the hospital.

Identify Activities to be carried out

Survey the university regarding inclusion of most preferred treatment plans and incorporate the most common ones to the new HMO Plan and Census is very useful to know most common health hazards that the students face regularly. Survey the other HMO offerings, fee, array of services and other influencing factors and based on that develop questionnaire and based on that work on the fee structure and offerings. This will provide insight into how the new product will compliment existing product offerings. Identify the probable customers who will be interested for new HMO Plan and develop the customer base. Include various types health care services including alternative medicine to lure customer as this will attract others too. Offering all the Employer HMO Plan at a subsidized rate and then pursuing them to transfer from the current plan. Since convenience and driving time is a crucial factor so new HMO Plan should include a option to go for a ambulance service.

Data Requirement
Census for data on health. Data on inclusion of most preferred treatment. Fee structure of other HMO Plans. Approximate Number of Targeted customer through developing questionnaire. Approximate Number of customer holding medical insurance & other HMO Plan. Approximate Number of customer wanted to go for the new HMO plan as a subsidized benefit. Approximate Number of people living within a 10 km radius from the hospital. Number and array of services offered by the other HMO. Data on monthly Income for finalizing the fee structure.

Primary Data & Secondary Data

Primary Data
Data from developed questionnaire on preference of services. Data developed from the survey of university students. Number of people want to shift to new HMO Plan.

Secondary Data
Census to know the age group and health of the customers. Fee structure of other HMO Plan and their offerings. Number of people holding Medical Insurance and HMO plans offered by the competitors. Data on Monthly Income.

Sample Questionnaire
Student 's Questionnaire Age Gender Existing Diseases Availing Insurance Insured Coverage expense Medical Expenditure apart from insurance Feedback on current medical facility Preferred Medical services Satisfactied with current insurance plan? Preferrance on any alternative therapy Residents Questionnaire Age Gender Profession Income Group No of dependents Existing Diseases Availing Insurance Insured Coverage expense Medical Expenditure apart from insurance Feedback on current medical facility Preferred Medical services Satisfactied with current insurance plan? Preferences on any alternative therapy

Sequencing of Activities to be carried out in MS Project

Data Collection Method

Strata Sampling from different location for heterogeneous data based on location for the resident.

Thank You