Executive Summary
Technological advancements are evident across the globe. It has been marked by the adoption of telehealth applications that aid in improving the delivery of healthcare services. Okadoc is one of the start-up telehealth providers in the United Arab Emirates (UAE). Its application aid in connecting doctors with patients. The app’s features allow for online booking and sessions with varied medical practitioners. The institution of the application has been positively received in the market making its future seem positive.
Despite the Covid-19 positive results, other factors play a role in influencing the success and longevity of the firm in the UAE healthcare industry. These factors can be evaluated through Strength, Weakness, Opportunities, and Threats (SWOT) and PESTEL analysis. The findings from the evaluation present the position of the corporation in the UAE healthcare niche and present the areas that the company should improve.
The SWOT and PESTEL analysis aid in devising strategies that can aid marketing the company. The strategy focuses on the target market segments; demographic, geographic, psychographic, and behavioural. The strategy covers the four main marketing factors; price, position, product, and promotion. These factors are based on the target market segments. The action plans will aid in the overall success and marketing of the Okadoc firm.
Introduction
Given the Covid-19 pandemic, there need for telehealth technologies that aid in connecting doctors and patients without physical contact. The fatality rates of Covid-19 worldwide has pushed for the refinement of healthcare. Okadoc corporation is one of the leading telehealth institutions in the UAE. However, aspects such as competition threaten the relevance and longevity of the corporation in the healthcare industry. With the analysis of both negative and positive factors, it is essential to devise strategies that aid Okadoc to remain relevant in the healthcare industry.
Okadoc corporation is one of the leading start-up healthcare start-ups in Dubai, UAE. The company was founded in 2018 and has been operational for three years (Ndichu). Its funding is an estimate of $12.3 million with the latest funding from investors being $10million (Ndichu). Its main investors are Abu Dhabi Investment Office (ADIO) and Ithmar Capital Partners (Ndichu). These investments aid in running the firm’s operations.
Provisions of the Corporation
The firm was mainly founded to improve the efficiency of patient care. Through the corporation’s application, doctors and patients can easily connect. Patients have access to over a hundred healthcare disciplines and specialists (Ndichu). With the firm’s system, individuals can book their appointments online; thus, making it simpler and faster to access medical attention (Ndichu). The system has a feature that enables the online settlement of bills (Ndichu). The feature heightens the efficiency of the application. These provisions make Okadoc a leader in the UAE healthcare industry.
The corporation was founded to improve the UAE healthcare sector. Its main purpose is to improve the efficiency of the healthcare sector. Dubai is a home of international business organizations; thus, the majority of the population have stringent schedules. The prolonged waiting before seeing a doctor prompted the founder to establish the firm. In most UAE healthcare centres, individuals have to wait for a minimum of 15 minutes before seeing a doctor (Thomas). Booking appointments physically is time-consuming. Equally, most people forgot about their appointments. The forgetfulness caused no-show ups in doctors’ appointments. Therefore, there was a need for a solution that would reduce time wasted in physical visits and irregular doctor appointments. The firm aims at resolving the issue by devising an application that facilitates the user to have access to a wide range of medical practitioners. The app’s features facilitate easy appointment booking as it showcases the patients’ schedules and reminds them of their appointments (Thomas). As a result, it reduces no- show ups. With these features, the firm aims at improving the provision of healthcare in the UAE.
The future of the corporation is relatively positive. In light of the Coronavirus pandemic, movements have been restricted across the globe. Since most individuals are unable to make physical hospital visits, the app is being used extensively. As the number of users grows, the company’s profits will skyrocket. As a result, the company will have sufficient funds to make new market entries in other continents such as Africa.
Factors That Influence the Future of Okadoc
The Covid-19 pandemic increased the probability of the firms’ success. However, other factors play a role in determining its future in UAE. These aspects encompass the firm’s SWOT analysis. Equally, other external factors such as the political, economic, social, technological, environmental, and legal frameworks affect its future.
Political
The UAE government supports the institution of Okadoc firm. The government set up policies that support technological innovations in the state. It encourages all state sectors to come up with innovations (Nazer). It has initiatives such as UAE National Innovation Strategy, Strategy for Fourth Industrial Revolution and Strategy for Artificial Intelligence that supports innovation in all fields (Nazer). Therefore, the political environment in UAE supports Okadoc operations.
Economic
The economic environment in the UAE is unfavourable for the operations of Okadoc. Although it is one of the fastest-growing economic states, conducting business is challenging. Some aspects such as high set-up costs, expensive licences, office space, and visa fee requirements discourage start-up business (Nazer). Since Okadoc is a fairly new firm, these requirements may affect its functionality in its niche industry.
Social
The socio-environment of the UAE is beneficial to Okadoc. The community, especially Dubai, supports technological innovations. A large percentage of the population is receptive to technology (Nazer). There is a high demand for sophisticated applications that makes their lives easier. Therefore, the integration of Okadoc corporation to UAE market is effortless and unproblematic.
Technological
The technological advancements in UAE are beneficial to Okadoc. The state supports and encourages technological innovations (Nazer). Dubai is one of the leading cities in terms of technological advancement. Therefore, the Okadoc company will face minimal challenges in accessing software and application developers. Since most inhabitants of the city are conversant with technology, they will have an easy time adapting the firm’s app.
Environmental
The UAE environment supports strides towards the reduction of carbon emissions and movements towards green computing. Applications with sustainability and environmental protection aspect are more advocated for in the state (Malik et al. 8). Okadoc application is based on sustainability and green computing. These features make it acceptable in the UAE environment. Consequently, the application meets the environmental requirements of the state.
Legal
The application adheres to the rules and regulations of the UAE. The regulations of the state make it easier for tech start-ups to pick up. Dubai Chamber of Commerce and Industry advocated for the removal of taxations that hinder these start-ups from opening bank accounts (Nazer). With these advocacies, it becomes easier for Okadoc to conduct its operations.
Strengths
The physical position of the firm is valuable to the company. The corporation is located in a busy environment. Since Dubai is one of the world busiest cities, most inhabitants are focused on timekeeping (Nazer). Due to the time wastage from physical doctor visits and strenuous appointment booking, most of these individuals prefer to use the app. The app provides convenience as they can visit their doctors as per their schedules (Ndichu). Therefore, its locality boosts the usage of the app.
The application features are the key strengths of the company. The application has features that allow the user to efficiently book appointments with doctors (Ndichu). The block technology used in developing the app makes it possible for doctors to review the medical history of their patients. It makes it simpler for them to recommend an effective treatment plan. The app has a basis for making transactions. Users can utilize their cards in settling bills by allowing the app to access the credit in their cards (Ndichu). Similarly, it allows doctors to withdraw the funds deposited by their clients. The transparency of the bill settlement transaction facilitates users to enjoy the app.
The corporation has viable investors. The investors of the company; Abu Dhabi Investment Office (ADIO) and Ithmar Capital Partners support the operations of the company through their $ 10 million contribution (Ndichu). These funds have aided in widening the scope of the app and refining its features. Consequently, due to the investors’ funds, the app has continuously upgraded.
Weakness
The monthly subscriptions are not favourable for doctors using the app. The application charges the doctors monthly subscription fee since the firm believes the doctors would earn more from the application (Ndichu). It is unfavourable for practitioners where patients prefer physical examinations. For examples, gynaecologists would suffer losses if they pay the monthly subscription and fail to get clients. Therefore, they avoid using the application.
Opportunities
The Covid-19 pandemic is beneficial to the company. With the restriction of movement, most individuals have opted for the app. Due to limited hospital visits, doctors advise their patients to install the application. Nurses can conduct their regular check-ups and perform diagnosis of their patients at home. Similarly, individuals can access medical check-ups. In the recent past, the application has been adopted to conduct Covid-19 diagnosis, offer information on managing the ailment in case of contraction, and provide stipulations on prevention measures. It offers sections for booking tests and vaccine shots for coronavirus (Ndichu). Thus, the pandemic has provided an opportunity to boost the usage of the app.
The need for telehealth technologies across the globe presents an opportunity for the corporation to expand. Africa lacks a viable means of virtual healthcare. Since the company specializes in the provision of virtual healthcare services, Africa is the perfect place that the company should make an entry. The new entry will boost the usage of the application; thus, boosting the company’s viability in the healthcare industry.
The firm should take advantage of technological advancements in telehealth. It should expand its features to encompass pharmaceutical option. The users should have the capacity to order their prescriptions from the app.
Threats
Competition from other telehealth companies is a threat to the operations of the company. One of its competitors, the Medicus app, offers a wider range of services than Okadoc. It connects all the healthcare stakeholders; doctors, nurses, patients, and pharmacists (Odeh et al. 98). It makes it a more suitable application than Okadoc; hence, threatening the relevance of Okadoc.
Demographic is the most important market segment. The application targets all individuals from 24 years to 40 years. Although the other age groups are not locked out, the company targets individuals since they are conversant with technology (Gibbon). Most of them have insurance covers; thus, can easily pay for the rendered services. Since it is a medical application, the firm markets the application to doctors. Their subscription is viable for the validity of the application.
The behavioural section is one of the key determinants of the organizational target group. Okadoc targets individuals that strive to get the best out of technology (Gibbon). These individuals are looking for the best app to resolve their problems, for instance, booking for Covid-19 vaccine shots instead of queuing. The app targets them as it provides high-quality services at fairly affordable rates to doctors. Additionally, it targets individuals that are in search of qualified doctors. The application is the best for them since it allows them to access highly qualified medical specialists at zero cost.
The psychographic segment provides a basis that determines the product consumers. Since it is a healthcare application, it targets medical practitioners. The doctors and nurses are the main targets since the app provides them with clients. The application is also intended for individuals that are receptive to technological changes (Gibbon). These individuals are comfortable with conducting virtual meetings with their patients or doctors. They believe that technology is the new global trend that makes life easier.
Geographic is one of the vital market segments that the firms put into consideration. The geographical target market of the firm comprises all inhabitants of the UAE. However, the application mainly targets Dubai. Dubai is one of the fastest-growing cities in the world and the headquarters of the firm (Ndichu). Its inhabitants are busy with their careers and often forget their hospital appointment. The app is designed to help them remember and fit the appointment in their tight schedules.
Positioning Strategy and Recommendations
The corporation should improve the features of its application to increase the percentage of its usage. Its existing features improves the delivery and access of healthcare services. The connection to a wide variety of medical specialists, appointment reminders, and flexibility of booking appointments makes it a viable app. However, the company should improve the features to make its application attractive to the consumers. The inclusion of features such as pharmaceutical connection enables consumers to access all aspects of their health under one app. It should make it easy for consumers to request house calls. Customizing the application to include these features will increase its usage among healthcare practitioners and patients. As a result, the corporation will optimize its profitability.
The firm should remove the monthly subscription fee and introduce a pay on use fee. The firm offers a fair subscription fee; thus, making it relatively affordable. Its services are free to patients. The zero costs attract a high percentage of patients; hence, making it a favourable application to doctors in search of clients. Nonetheless, the monthly subscriptions hinder several medical personnel from using the application. Removing the fee and instituting pay on use policy will make it popular among health practitioners. Personnel from fields that lean towards physical examination will commence using the application. With more practitioners on board, more patients will download the app. Therefore, the action would boost the company’s sales.
The promotions on the application make it’s a favourable application among its users. Amid the Covid-19 pandemic, the application allows its users to book appointments for tests and vaccine shots. It makes the application versatile; hence, attracting more users to the system platform. The company should provide more incentives in the use of the application to increase the number of users. Since the organization depends on monthly subscription fees, providing discounts on the fee will increase its usage. For illustration, the firm can come up with a model where it gives a 15% discount to medical practitioners who pays for a two-month subscription. The rate of deduction should increase with the number of months the clients pay upfront. The strategy will encourage more users to adopt the
The positioning of the enterprise boosts its usage. The firm is located in Dubai, one of the busiest and growing cities. The technological advancements in the city facilitate individuals to be more receptive to the application. With their busy schedules, the app comes in handy in booking and reminding them of their appointments. Nevertheless, the enterprise should widen its scope to international markets (Gibbon). It should expand its usage to Africa. Widening the market base will increase the number of users. Within a short period, the company will enjoy benefits from economies of scale.
In conclusion, Okadoc is one of the leading telehealth companies in the UAE. The firm’s application facilitates doctor-patient virtual connectivity. It aims at making healthcare more accessible and reduces on no show ups due to forgetfulness. The application SWOT and PESTEL evaluation provides a basis for coming up with positional strategies. These strategies are guided by the target market segments. Although the app is a start-up, it is relatively successful in its operations. However, there is always room for improvement and upscaling profits.
References
Gibbon, Gavin. “UAE-Based Okadoc Planning ‘Accelerated International Expansion'”. Arabian Business, 2020, https://www.arabianbusiness.com/healthcare/449070-uae-based-okadoc-planning-accelerated-international-expansion.
Malik, M. M., S. Abdallah, and M. Hussain. “Assessing supplier environmental performance: applying analytical hierarchical process in the United Arab Emirates healthcare chain.” Renewable and Sustainable Energy Reviews 55 (2016).
Nazer, Shaimaa. “Enabling Innovation In The UAE – Wamda”. Wamda.Com, 2020, https://www.wamda.com/2020/02/enabling-innovation-uae.
Ndichu, David. “Emirates Hospitals Group Selects Okadoc To Digitise Call Centre, Roll Out Telehealth Platform – Gulf Business”. Gulf Business, 2020, https://gulfbusiness.com/emirates-hospitals-group-selects-okadoc-to-digitise-call-centre-roll-out-telehealth-platform/.
Odeh, Ayman, Raghad Abdelhadi, and Hussien Odeh. “Medical patient appointments management using smart software system in UAE.” 2019 International Arab Conference on Information Technology (ACIT). IEEE, 2019.
Thomas, ASam. “Building To Last: Okadoc Founder And CEO Fodhil Benturquia”. Entrepreneur, 2019, https://www.entrepreneur.com/article/339319.
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