The sales strategy – market entry planned in two stages
Source: Rawpixel – envato.com (edited)
In addition to the medical benefit, the business model plays a crucial role when it comes to whether a product can be successfully launched on the market. BOCAhealthcare uses two different approaches: a partnership-based sales strategy with MedTech companies and a direct sales approach.
Go-to-market of BOCA 1.0 in 2020
Our goal is to offer BOCAhealth in a piggyback process via providers of dialysis machines who integrate our solution into their device.
According to our own market survey, 90% of potential customers surveyed in combination with BOCAhealth solutions would spend more on a dialysis machine. We are targeting a price of € 1,000 per device for the BOCAhealth as an add-on. For comparison: The prices of bioimpedance devices, which are offered today as non-integrated solutions for intra-clinical use, are between € 5,000 and € 15,000 (providers are e.g. Akern, Fresenius, Omron, Inbody). These machines are not only unwieldy but also provide poorer usability for a significantly higher price, e.g. measurement results have to be transferred manually. We plan to offer the use of our software as a subscription model for a further € 1,000 per year for the first version.
By integrating BOCAhealth, MedTech companies could improve the performance of their existing technologies and thus their market position. This would allow providers to sell more dialysis machines at a higher price. BOCAhealthcare will focus on the European, North American and Japanese markets. It all starts with Germany and Italy, which are among the five largest dialysis markets worldwide. We want to expand our geographical reach to twelve countries within five years.
Go-to-market of BOCA 2.0 in 2021
With the second version of BOCAhealth, we want to address a broader market and also sell our product directly to doctors, clinics and dialysis centers. BOCA 2.0 will feature an innovative algorithm, developed with machine learning (AI), that is able to predict intradialytic hypotensive events and propose a therapeutic adjustment that supports the doctor’s decision during hemodialysis (HD) treatment. The BOCAhealth device will be able to predict hypotensive events in advance to optimize the treatment of HD patients. The solution will be able to communicate with the dialysis machine to use other parameters obtained to improve its predictive power. For the second version with a medical decision support system,