American Well: The Doctor Will E-See You Now
Brief summary on:American well: the doctor will e-see you nowAmerican Well, the online care company was founded by two brothers Roy Schoenberg and Ido Schoenberg in 2006. Ido and Roy were both trained as a physician and both have served for different health care software companies. From various surveys the need and want of people of online health care system was highlighted and henceforth out of the experience they have from their jobs both of them discussed some ideas regarding providing affordable, convenient access to quality health care with the help of technology particular in respect of place and time of delivery.American Well was founded with a vision to use Internet and telephony to connect patients and physicians, within minutes of real time. The key players in the U.S. health-care system were mainly patients, public and private payors , suppliers and providers. The company was able to market their idea and vision to various health insurance companies because of its success in developing necessary technology platform since its founding. American Well was able to roll itself from a concept to reality because of its catering to needs of different key players. Most of the time demand and supply is often geographically and temporarily constrained as stated by Ido , American Well helped bridge the gap by providing a one site platform for different key players.
American Well served various purpose for its various key player. Regarding patients it removed some of the obligations like waiting time, saving cost associated with travelling and flexibility regarding decision making which physician to consult, and most importantly made treatment available at affordable cost, similarly for physician it became a source of extra income even during weekends, provide treatment irrespective of geographical barriers imposed by states. Among all key players role of insurance companies was significantly promising because on one hand insurance companies provided the company with pool of doctors and patients as they can use their resources to encourage them to use online health care system and hence played a significant part in building customer channel. On the other hand the company provided insurance companies with cost reduction opportunities because of early detection and treatment of medical conditions.Coming next to the roll out of plan the company collected capital mainly from high net worth individual who were sophisticated investors and were like minded people as stated by Ido, many of whom were those who invested in their early ventures. So networking and connections made capital procurement easier for the company. The company was able to roll out its plan significantly by removing patients and physicians concern about malpractices and confidentiality by developing unique coverage with a leading insurance company at affordable cost.