This web app uses cookies to compile statistic information of our users visits. By continuing to browse the site you are agreeing to our use of cookies. If you wish you may change your preference or read about cookies

close

Why Medigo's Business Model is so successful?

Get all the answers


Medigo’s Company Overview


Medigo is a revolutionary healthcare company that operates on a global scale, providing a platform that connects patients with a vast network of accredited medical facilities worldwide. The company's mission is to make quality healthcare accessible and affordable to everyone, regardless of their geographical location. Medigo simplifies the process of finding and scheduling medical procedures abroad, offering services ranging from dental check-ups to complex surgical procedures. The company is committed to ensuring that all listed clinics meet international standards of quality and safety, and it maintains a rigorous vetting process to ensure this. Business Model: Medigo operates under a marketplace business model, positioning itself as an intermediary between patients seeking medical care and healthcare providers around the world. The platform allows users to search for, compare, and book medical procedures in different countries. Medigo's primary focus is on providing a seamless and stress-free experience for patients, handling everything from initial inquiries, through to booking procedures and arranging post-treatment care. The company also offers additional services such as arranging travel and accommodation, providing a truly end-to-end service. Revenue Model: Medigo's revenue model is primarily based on commission fees. The company charges a certain percentage of the treatment cost as a commission from the healthcare providers for every successful booking made through its platform. This commission-based model aligns Medigo's interests with both the patients and the healthcare providers, as the company only generates revenue when a patient successfully receives treatment. In addition, Medigo also earns revenue from ancillary services such as travel and accommodation arrangements made for the patients.

https://www.medigo.com/

Country: Germany

Foundations date: 2013

Type: Private

Sector: Healthcare

Categories: Health


Medigo’s Customer Needs


Social impact:

Life changing: affiliation/belonging

Emotional: wellness, provides access

Functional: simplifies, connects, reduces effort, informs


Medigo’s Related Competitors



Medigo’s Business Operations


Cross-selling:

Cross-selling is a business strategy in which additional services or goods are offered to the primary offering to attract new consumers and retain existing ones. Numerous businesses are increasingly diversifying their product lines with items that have little resemblance to their primary offerings. Walmart is one such example; they used to offer everything but food. They want their stores to function as one-stop shops. Thus, companies mitigate their reliance on particular items and increase overall sustainability by providing other goods and services.

Customer relationship:

Due to the high cost of client acquisition, acquiring a sizable wallet share, economies of scale are crucial. Customer relationship management (CRM) is a technique for dealing with a business's interactions with current and prospective customers that aims to analyze data about customers' interactions with a company to improve business relationships with customers, with a particular emphasis on retention, and ultimately to drive sales growth.

Data as a Service (DaaS):

Data as a Service (DaaS) is a relative of Software as a Service in computing (SaaS). As with other members of the as a service (aaS) family, DaaS is based on the idea that the product (in this instance, data) may be delivered to the user on-demand independent of the provider's geographic or organizational isolation from the customer. Additionally, with the advent[when?] of service-oriented architecture (SOA), the platform on which the data sits has become unimportant. This progression paved the way for the relatively recent new idea of DaaS to arise.

Digital transformation:

Digitalization is the systematic and accelerated transformation of company operations, processes, skills, and models to fully exploit the changes and possibilities brought about by digital technology and its effect on society. Digital transformation is a journey with many interconnected intermediate objectives, with the ultimate aim of continuous enhancement of processes, divisions, and the business ecosystem in a hyperconnected age. Therefore, establishing the appropriate bridges for the trip is critical to success.

Healthcare:

The prevention, treatment, and management of disease and maintaining mental and physical well-being via the medical and allied health professionals' services. It includes diagnostic, preventative, remedial, and therapeutic service providers such as physicians, nurses, hospitals, and other private, public, and volunteer organizations. Additionally, it comprises producers of medical equipment and pharmaceuticals, as well as health insurance companies.

Integrator:

A systems integrator is an individual or business specializing in integrating component subsystems into a unified whole and ensuring that those subsystems work correctly together. A process is known as system integration. Gains in efficiency, economies of scope, and less reliance on suppliers result in cost reductions and may improve the stability of value generation.

Online marketplace:

An online marketplace (or online e-commerce marketplace) is a kind of e-commerce website in which product or service information is supplied by various third parties or, in some instances, the brand itself, while the marketplace operator handles transactions. Additionally, this pattern encompasses peer-to-peer (P2P) e-commerce between businesses or people. By and large, since marketplaces aggregate goods from a diverse range of suppliers, the variety and availability are typically greater than in vendor-specific online retail shops. Additionally, pricing might be more competitive.

Orchestrator:

Orchestrators are businesses that outsource a substantial portion of their operations and processes to third-party service providers or third-party vendors. The fundamental objective of this business strategy is to concentrate internal resources on core and essential functions while contracting out the remainder of the work to other businesses, thus reducing costs.

Revenue sharing:

Revenue sharing occurs in various forms, but each iteration includes the sharing of operational gains or losses amongst connected financial players. Occasionally, revenue sharing is utilized as an incentive program ? for example, a small company owner may pay partners or colleagues a percentage-based commission for recommending new clients. Occasionally, revenue sharing is utilized to share the earnings generated by a corporate partnership.

Transaction facilitator:

The business acts as an acquirer, processing payments on behalf of online merchants, auction sites, and other commercial users for a fee. This encompasses all elements of purchasing, selling, and exchanging currencies at current or predetermined exchange rates. By far the biggest market in the world in terms of trade volume. The largest multinational banks are the leading players in this industry. Around the globe, financial hubs serve as anchors for trade between a diverse range of various kinds of buyers and sellers 24 hours a day, save on weekends.

Embed code:

x
Copy the code below and embed it in yours to show this business model canvas in your website.