American Well the Doctor Will E-See You Now
PESTLE analysis
Political – Political pressure has always been associated with the health care sector around the world and is growing. This means that governments would always apply pressure on health care sector. Health Insurance Portability and Accountability Act (HIPAA), enacted in 1996 tend to security risks and privacy risks associated with the increasing use of electronic channels to transmit patient information. Some examples of problems that could rise are what pressure will be put on pricing, what services would be allowed and which would be retracted, who will be allowed to use this service etc.
Economic- Conditions of a country could change due to many reasons and this would affect the economy of that particular country either positively or negatively. The existence of the current health care model depends on the economy. There is a doubt if the current health care system can exist tomorrow. Consumer income reduction will have an impact on countries with health insurance models. A consolidation of an industry can be caused by the increased pressure from shareholders meaning more acquisitions and mergers will occur.
Social – The culture of a country affects the society greatly. The culture and society of a country or a state could differ from one to another. These cultural differences could pose as an advantage and a dis advantage to this platform. People in some areas wouldn’t want to use online consulting as they are not used to meeting a doctor online or because of deferent religious beliefs. In the same way people living in another busy area would solely rely on online consulting.
Technology – Technological advancements always create new business prospects. We can never know what the future holds and what new improvements will be coming in the future. All technology becomes obsolete one day and this platform will too. These technological advancements will create new business prospects in terms of service provisions and new therapy systems. In order to fight this technological advancement we also have to adapt together with it.
Legislation – The health care industry has many legislative and regulatory restrictions. With the evolution of health care industry the patients demand for more rights in their programmes also increase. Increased litigation and global inconstancies could be seen as main concerns for this industry. With increased litigation, quality becomes key and people start demanding better quality and service which makes it harder for the company after a certain extent.
Environmental –Key stake holders are now becoming more aware of the need for businesses to be more proactive in this field because of the growing environmental agenda. Growing environmental agenda and community awareness is an issue in the environmental aspect. Energy saving programmes could affect the company. So the