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American Well Essay

1337 Words6 Pages

1. The company has a young history and has developed a new product, which offers substantial value and varied advantages to its target market. It needs to decide what is the best way to taper their marketing efforts in order to meet the needs of their market sufficiently and ultimately expand their market share. To carry this out the company would need to set emphasis on two focal markets namely, providers and insurers. Source: https://bu.digication.com/c_moore_health_communications/HC_758_American_Well_Project Insurance companies embody the primary prospect for American Well to expand its business, since they already have access to large networks of patients and physicians. Currently only a few insurance companies have adopted the Online …show more content…

• Pharmacist Support: By adding a supplementary pharmacist support to the existing service, the patients would have an additional incentive to register on to the platform. These services could be at a cheaper price than consulting a doctor Furthermore, potential consumers in various European countries have expressed interest in American Well and hence, it can explore these opportunities by tailoring its services to suit the market needs. Out of the above mentioned, the most promising segment would be the Insurance market because of the following reasons: a) Insurance companies can provide access to a large network of patients & doctors. Insurance companies also have internal resources that can encourage both parties to use online care. b) Health insurance companies already have a strong financial backing and represent a profitable customer channel. c) These companies also have a strong value proposition, which is significant company savings. This is possible because medical consulting will be less expensive and treatment will be less expensive because of early

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