How crucial are business models for the healthcare organizations?
Have you ever thought, long and hard about what can be key to your success in a business startup? You might be having all ideas to accomplish your dream. But you don’t have any clue how to jot down the proposal to clinch the deal.
Sitting thousands of miles away from comforts of his home in Finland. A Finnish Professor Paul Lillrank, with one hand in his trousers, adjusts his specks on a crisp winter morning. Recently in the posh Lutyen zone of India’s national capital to address a select group of professionals. Aspiring entrepreneurs and experts from prestigious business and management institutes.
A calm composure of the professor, writer of many books on healthcare. Prof was infectious as he along with another expert Sachin Gaur started presenting a threadbare account of points to be highlighted in the business proposal before it is thrown to the practice and before financers and other stakeholders.
In the third IC Innovators Club meeting, Prof Paul Lillrank of Aalto University, Finland and Sachin Gaur, Director, InnovatioCuris deliberated with club members on the business models. The name of the workshop was ‘the business model canvas’. The participants from successful health ventures as far as Nagpur participated.
Many of the businesses do not experiment with their business model. Hence they are not able to maximize the revenues, profits or impact! Alexander Osterwalder has examined the business models. And designed a canvas on which a business model workshop can be run as a simulation. And the betterment of businesses can make with new adjustments. Ever since its creation business model canvas has seen fifty million plus downloads. This IC Club meeting used the business model canvas as a tool.
Prof Paul Lillrank has been studying the topic already for more than a decade. He brings the academic rigor in understanding the dynamics of healthcare businesses. Prof not only shared the underlying constructs for efficient and robust healthcare models but also the understanding of what makes the most successful models like that of Arvind Eye Care work. He also shared how a desire to copy Arvind Eye Care in Finland resulted in the creation of a mega dental clinic. Which clearly illustrates that the fundamentals of good business models are universal cutting geographies and specializations.
Sachin Gaur further added to the workshop on the practical side by running the business model and value proposition canvases by asking two volunteers among the IC Club participants to share their business cases. The participation of the audience in sourcing the business model for the two business cases was an enriching exercise not just for the volunteers but for the entire room.
As the transaction cost for soliciting relevant feedback from an accomplished crowd of forty plus diverse set of people would have taken the two example businesses more than a month, which the club as a platform could solicit in a matter of few hours for them! This remains as the core motto of the IC Club which is to act as a force multiplier for new. And innovative businesses by connecting them with a diverse set of health experts. Who are constructive and see themselves as a change agent for good!
If you want to run a business model canvas workshop for your organization or institution, don’t hesitate to contact us at [email protected]