The invention of telecommunication also added to the value that the customers were able to perceive, by seeing their physicians they could relate better and receive better care if their illness had any physical symptoms. As well as the progress towards virtual office visits, a patient can now feel as if they are within the doctor's office while in the comfort of their home. For the physicians, they would have easy access at any time to their patient's files while checking payment information and all other relevant data, the physician would be able to set appointments that suited them best or even prescribe medication for the patient over the web.
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Business Level Strategy.
"American Well is in the E-health industry, and they have been positioned to compete at a high level. They provide healthcare for a lower cost than the competition, therefore they are a cost leader. While the cost leadership strategy can be highly successful, it can be difficult for companies to make a profit. This strategy involves offering a low cost product that consumers want to buy. This means the company needs to minimize costs and pass the savings on to their customers.".
"The idea of the founders of American Well was to totally provide health care at low costs for all patients. With that in mind, American well adopted a cost leadership strategy. Among the key benefits sections of the all of the firm's product guides is a low cost. None of American Well's competitors followed this approach. Also American Well played the role of a humble director for patients to the appropriate doctors and physicians and not only market certain medicines and service providers to the patients. With the direct to consumer marketing strategy American Well is able to minimize the cost of a consultation by minimizing provider expenses and passing the cost savings onto the consumer or patient. The direct to consumer functionality of American Well's platform permits a much wider target of customers to use their product and provides a greater opportunity at market capture.
