Internet of Things (IoT) in health care – a platform business model in a developing country market
1 Minh Nguyen Dang Tuan, 2 Thanh Nhan Nguyen
1 KisStartup Innovation Consulting, Coaching, Mentoring
2 Faculty of Business Administration, Ton Duc Thang University
Abstract
Ecomedic Medical System (EMS) is the largest community of online health care in Vietnam currently. Based on its diversifications of involvement of stakeholders from patients to doctors to pharmacies, the community is transitioning itself to an online application to connect different stakeholders, utilizing IoT application for the development. It is expected to officially provide the market with a deployment model for the home care physician system: proactive, continuous care in which all data are connected to the cloud. Key functions deployed with UDr, which is android or IoS applications, IoT wearable devices enable patients to use 24/7 health monitoring equipment (especially for patients with chronic diseases such as cardiovascular disease, diabetes, high blood pressure ...); The wristwatch automatically measures the time (defaults to 30p / s) and sends data to Cloud; The UDr application reads the data from the cloud to the physician for examination. Clinical examinations are also done at home and the results are sent to the doctor and the patient for follow up. When there are abnormalities (for example sudden increase in blood pressure within 3-4 hours), EMS's cloud service will analyze and alert the physician, patient/family member and connection. Unique value of the business model: a combination of deeptech solutions for the health care ecosystem. In a country where the average patient's waiting time is 10 hours, the development of UDr, an online patient care advisor on the basis of a smart medical community. UDr is a combination of different technologies that work to reduce the time spent on both patients and the healthcare ecosystem. Making use of the available IoT devices that are available to physicians for analysis of patient health data by providing real-time patient survival information, combined with a network of family physicians developed by another partner, the UDr offers warnings of hazards to the patient's health. The UDr is a flexible mix of online and offline and leverages the technology platforms and insights available to the market and integrates with existing solutions in the marketplace to benefit the user and bring value to the parties involved. Key words: Internet of Things, Health industry, startup
Case highlights
•Introducing Business model of Ecomedic Medical System in Vietnam, which is established by merging fours basis factors consisting of hardware platforms, wearables, networking technologies, and cloud platforms that connect different stakeholders in the healthcare ecosystem with wearable devices.
•Analyzing the present market in smart e-medical service in smart cities, and their relationship with professional medical experts, nurses, patient’s relatives.
•With a strong focus on quality of doctors and active prevention for patients with common diseases in Vietnam, UDr is targeting a potential market with no big competition.
•Integration of IoT, Big Data and Block Chain into the solutions creates its unique values.
•Using the Business Canvas Model to discuss the business opportunity in industry and future market potential.
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Source: 2018 Business opportunities and innovative models driven by the Internet. Cases in Vietnam. Organizers: TDT University, Feng Chia University, PWC, TSing Hua University,
The book published in 2019 is a result of gathering 10 case studies on business model innovation using IoT applications in Vietnam. 7 out of 10 case studies were conducted by researchers from KisStartup's research team in collaboration with lecturers and researchers of Ton Duc Thang University. The book was published as part of Silicon Valley Asia project, funded by the Government of Taiwan.