For reference, the following is the full text of the concept as tested with respondents.
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- Godfrey Garrison
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1 KEY: Concept For reference, the following is the full text of the concept as tested with respondents. In today s healthcare system, patients often have to wait several days, or even weeks, to see physician specialists. Then, after waiting for the opportunity to be seen, the patient s experience tends to be impersonal and unpleasant, leaving both patients and physicians stressed and unhappy with the level of care being provided. Concierge Key redefines that patient experience. Concierge Key is a membership-model service that provides patients with expedited access to the world s most elite specialty physicians, on-demand. Members receive a top-level concierge experience with world class convenience and levels of care. Unlike most concierge medicine programs that provide access to only ONE doctor s care, Concierge Key includes a nationwide network of healthcare providers of all types. Calling in and waiting days or weeks to see your doctor is a thing of the past; members get on-demand access to our physicians. Members can schedule appointment windows with whom they want when they want. Whether that means that morning, afternoon, tomorrow or next week, it is completely at the member s convenience. Concierge Key s easy-to-use smartphone app makes this all possible. Concierge Key doctors are elite, faculty-level physicians that have been vetted and qualified by their peers before being invited to participate in the program, ensuring you receive care from the best physicians in the world. Concierge Key Members Enjoy better healthcare experiences: When a Concierge Key member arrives at the physician office they will enjoy a concierge-type experience rather than the impersonal, time-consuming, and sometimes unpleasant experience patients often endure today. The Concierge Key member will skip the sign-in process and will be greeted personally by the office staff or physician. Instead of queuing up in the waiting room, the Concierge Key member will be the next patient seen. The physician will greet the member, know their name, thank them for being a Concierge Key member, and treat them courteously and respectfully rather than as just another appointment. The whole in-office experience will be smooth, easy, and pleasant. Enjoy unprecedented convenience: When a medical issue arises, patients today are often faced with a time-consuming and confusing search to identify and qualify which specialist to see for their medical care. Then patients are forced to wait days or weeks for an appointment -- often at an inconvenient time. Concierge Key solves those issues by providing members with the ability to see elite physician specialists on demand. No more waiting weeks to be seen or awkwardly calling in favors to get an appointment in a reasonable amount of time. Concierge Key members get access to the next available consult window for their selected physician and are the next patient seen when they arrive. Have access to the best doctors available: Concierge Key doctors are elite, faculty-level physicians who have been vetted and qualified by their peers before being invited to participate in the program. As a member, your care will be attended to by these highly-qualified physicians focused on delivering the best medical care possible. These three statements were also copied out of the overall concept and tested on their own as unique value propositions. 1
2 Concept Impressions The overall appeal and uniqueness of Concierge Key is high among the target audience, with some significant differences among subgroups: Higher income audiences find the concept more appealing, likely because they can more easily afford the service. Those with more than three people on their insurance plan are potentially more likely to see themselves getting more use out of the service, increasing the appeal of its convenience and value. Younger individuals, who tend to be heavier users of on-demand services overall, are also more likely to find the value propositions appealing. Interestingly, individuals with two people on their insurance plan are less interested across the board likely because they would have to pay the full family rate for only two individuals. Given that interest in Concierge Key appears to grow with the number of people on their insurance plan, pediatrician offices and family practice PCPs might be good places to reach interested audiences. Overall Appeal and Uniqueness 78% 46% 32% Appealing Very 42% 49% Unique and different Somewhat Q16: How appealing is Concierge Key? Q17: How unique and different is Concierge Key? 91% (showing 10s as very, and 9-6 as somewhat ) Age Appeal ( Very ) Uniqueness ( Very ) % 52% % 45% Number of people on insurance plan One 22% 48% Two 26% 41% Three or more 38% 52% Household income Significant Subgroup Differences $150,000 - $299,999 27% 46% $300, % 51% (showing only very responses [8-10]) Yellow boxes indicate statistically significant figures with 95% confidence 2
3 Initial Likelihood to Purchase The Concierge Key concept was presented to respondents with one of three price points, including a low, mid and high level as displayed below. Overall, reception to a family membership is stronger than an individual membership, with more than a third likely to purchase regardless of price point. Individual membership does garner about 30% at the $2000 and $3000 price points, but then diminishes at the notably higher $5000 level. Purchase intensity, those indicating they would definitely purchase a membership, is strongest at the mid price point for both individual and family memberships. Individual Membership Family Membership 36% 34% 35% 29% 19% 30% 13% 24% 12% 20% 15% 20% 10% 17% 12% 14% 21% 15% $2,000 $3,000 $5,000 $3,500 $5,000 $7,500 Probably would purchase Definitely would purchase Q20: How likely would you be to purchase an individual membership to Concierge Key for [$2000/$3000/$5000] a year, were it to be available to you? / Q21: How likely would you be to purchase a family membership to Concierge Key for [$3500/$5000/$7500] a year, were it to be available to you? 3
4 Driver Analysis: Value Statements Though all three key value statements perform similarly on appeal and believability, they are not equally impactful in driving purchase intent. The Experience and Quality value propositions are much more impactful than the Convenience statement overall, and in different ways. The Experience value proposition accounts for 38.2% of purchase intent and is impactful primarily because it is believable to the target audience. Quality of Care accounts for 35% of overall purchase intent and is impactful primarily because it is very appealing. Convenience does drive purchase intent, but to a lesser degree than the other two. To the extent possible, marketing outreach should promote the enhanced experience profiled by Concierge Key, emphasizing that members will feel valued for their patronage (more on that on subsequent slides). Concierge Key should also strongly promote the Quality of Care angle, but be sure to offer proof points that increase that claim s believability. Relationship between Value Propositions and Purchase Intent Total relative effect on purchase intent Experience 12.8% 25.5% 38.2% Convenience 15.0% 11.8% 26.8% Quality care 20.9% 14.1% 35.0% Appeal Believability Q25, Q27, Q29: How appealing is this description of benefits? Q26, Q28, Q30: How believable is it that Concierge Key can deliver on these benefits? 4
5 KEY: Benefits For reference, these are the benefit statements we tested on appeal and believability. Concierge Key Members get healthcare access at their convenience. don't have to fill out a clipboard. can see a doctor when they want. can simply walk in to see an elite specialist. are thanked for being a patient. Concierge Key is is the authority on patient experience. makes your healthcare experience easy. makes accessing healthcare easy. helps you enjoy your healthcare experience again. are valued by their doctor. have access to the very best doctors. 5
6 Benefit Messaging Assessment For reference, this is how the various benefits score on overall appeal and believability. This can be considered stated appeal. On the next slide, you ll see how some of the items that the target audience rated relatively lower on appeal and believability are actually strongly tied to purchase intent. Concierge Key is /Members Can see a doctor when they want Have access to the very best doctors Get healthcare access at their convenience Can simply walk in to see an elite specialist Makes accessing healthcare easy Makes your healthcare experience easy Are valued by their doctor Don't have to fill out a clipboard Helps you enjoy your healthcare experience again Is the authority on the patient experience Are thanked for being a patient Believability Appeal (showing only very and somewhat responses) 53% 55% 57% 49% 59% 58% 53% 67% 65% 51% 64% 49% 62% 64% 55% 80% 79% 78% 78% 77% 77% 73% Q31-Q41: Below are some more specific descriptions of various Concierge Key benefits. Please indicate how appealing you think each of these is. Q42-Q52: Here are the same specific descriptions of various Concierge Key benefits. Please indicate how believable it is that Concierge Key can deliver on each of these benefits. 6
7 Driver Analysis: Benefits Three benefits that rate lower on appeal and believability are in fact quite important as drivers of purchase intent. First, the idea that Concierge Key is the authority on patient experience is the strongest predictor of purchase intent among all benefits tested, suggesting that this is fertile territory for marketing or positioning the company. The next highest benefits have to do with being valued as a patron. Specifically, being thanked for being a patient is a concept that resonates with the target audience and drives purchase intent. This proof point should be highlighted as an example of the Concierge Key experience to drive appeal. Similarly, the belief that Concierge Key members are valued by their doctor is also an idea that drives purchase intent if consumers think it s likely to be true. Rounding out the most impactful benefits is the idea that Concierge Key can actually help patients enjoy their healthcare experience again. These are key messages that should be highlighted prominently in all prospect touch points. Relationship between Benefits Messaging and Purchase Intent Is the authority on the patient experience Are thanked for being a patient 14.1% 11.5% Are valued by their doctor Helps you enjoy your healthcare experience again 5.5% 5.2% 5.6% Have access to the very best doctors 0.0% 7.4% Can see a doctor when they want 2.4% 4.3% Makes your healthcare experience easy 5.2% Makes accessing healthcare easy 3.1% 0.0% Don't have to fill out a clipboard Get healthcare access at their convenience Can simply walk in to see an elite specialist 2.6% 1.6% 0.0% 13.0% 9.2% 9.4% Total relative effect on purchase intent 23.5% 20.7% 18.5% 10.7% 7.4% 6.7% 5.2% 3.1% 2.6% 1.6% 0% Appeal Believability Q31-Q41: Below are some more specific descriptions of various Concierge Key benefits. Please indicate how appealing you think each of these is. Q42-Q52: Here are the same specific descriptions of various Concierge Key benefits. Please indicate how believable it is that Concierge Key can deliver on each of these benefits. 7
8 Audience Profile: Defining Demos at a Glance Targets Persuadables Holdouts 20% 46% 34% Male (58%) Younger: (73%) Higher income: $300k+ (60%) Average income: $310k Most ethnically diverse (62% White) Most highly educated Most likely to be currently employed (91%) Children/Dependents (73%) 4+ on insurance plan (48%) More likely to be frustrated by scheduling (55%) More likely to have visited walk in in the last year (69%) More likely to visit Specialists Early adopter of new technology (81%) More likely to own a premium card (84%) More likely to use other concierge type services (82%) Consider themselves bargain hunters (69%) Trust friends and family nearly as much as physicians for info about a service like Concierge Key Female (54%) Middle aged: (42%) Mid range income: $150-$300k (51%) Average income: $245k 1-2 on insurance plan (48%) Visit fewer doctors and less frequently than the average Spend longer than average in the wait room Half have visited a walk-in in the last year Split on adoption of new technology Will wait to save a few dollars (74%) Are good with the basics (78%) Average use of concierge services (58%) Trust health professionals for info about a service like Concierge Key (66%) Female (56%) Older: (42%); 65+ (18%) Lower income: $150-$200k (34%) Average income: $215k Least ethnically diverse (86% White) Least educated Most likely to be retired (12%) 1-2 on insurance plan (50%) Least likely to have dependents (48%) Rarely/never frustrated by scheduling (47%) Less likely to have visited a walk in in the last year (38%) Average time to schedule, do paperwork and wait lower than average Willing to pay more for convenience and time savings (47%) Seek the best of everything when possible (63%) Laggard adopter of new technology (62%) Trust health professionals for info about a service like Concierge Key (62%) 8
9 Verbatim: Targets For Targets, being able to conveniently access high quality healthcare is a key driver and the family membership is seen as a good value. Concierge Key is seen as particularly beneficial for families that have to coordinate numerous people s healthcare. Targets I would look at it as a good value. It would reduce the amount of time I would be out of the office. Convenience primarily. I'm a busy health care executive with little flexibility. I value convenience and high quality healthcare and I would be willing to pay an annual fee to procure these services. It is scary not being able to get the care we might need from well vetted doctors. Often times you are at the mercy of the doctors you are turned over to in an emergency. We need someone who cares and can be our advocate in an emergency no matter where we in the country or world. For a great price you would have a membership that your whole family would have access to and with children, the sooner you can speak to a doctor the better. Since my children attend school and I do not take them out of school for appointments, I sometimes have to schedule exams a month or two out. A very high quality and flexible service that makes healthcare simpler. One trip to an emergency room or clinic because of the NO walk-in policy would make the membership worthwhile. Q22. You said you definitely/probably/might/probably won t/definitely won t purchase a(n) individual/family membership. Why did you say that? Please be as specific as possible. 9
10 Usage of Premium Services More than half use some other type of concierge service with airline clubs, home services and travel standing out as those used most often. American Express Platinum is the leading premium credit card used followed by Visa and Mastercard airline mileage cards. Targets are far more likely to be users of both concierge services and premium credit cards. In addition, nearly three-quarters of other concierge service users are also premium credit card users. Promoting Concierge Key through similar venues, and perhaps in tandem with these premium services may be an effective method of reaching our Target audience. Usage of Premium Services by Profile Conc. Premium Average American Visits Total Targets Persuadables Holdouts Users CC Users A Doctor 3 Times a Year Use Other Concierge Services 57% 82% 58% 41% 100% 75% Airline club 33% 52% 31% 25% 58% 49% Home services 26% 32% 28% 19% 45% 34% Travel 24% 45% 22% 16% 43% 36% Deliveries, shopping, errands 21% 40% 20% 12% 37% 31% Executive gym membership 16% 36% 13% 7% 27% 23% Medicine or healthcare program 2% 3% 1% 3% 3% 2% Use Premium Credit Cards (showing top 8) 55% 84% 52% 43% 73% 100% American Express Platinum 20% 36% 18% 14% 26% 36% Visa Signature Chase United Mileage 10% 12% 8% 11% 14% 18% Mastercard Citi Executive/AAdvantage 9% 11% 10% 7% 12% 16% Visa Chase Sapphire Reserve 9% 6% 11% 7% 14% 16% Mastercard Gold 8% 16% 7% 5% 10% 15% Visa Black 6% 19% 4% 2% 9% 11% Mastercard Black 6% 18% 4% 2% 8% 11% American Express Delta Reserve 5% 8% 5% 3% 7% 9% Q74: What type of personal concierge services do you use today, if any? Please select all that apply. [note: respondents were able to refuse responses] Q77.1: Do you own any of the following premium credit cards? Please select all that apply. [showing only the top 8 responses] 10
11 Audience Profile: Concierge Service Users Exploring the use of other concierge services, we see that the users of these services fall between our Targets and Persuadables profiles across most demographics and responses. Targets have both strong purchase intent and high use of other concierge services making them the ideal initial target. However, marketing outreach focused on concierge service users as a whole will help to capture the subset of Persuadables most likely to use concierge type services and therefore those more likely to be interested in a Concierge Key. Average American Visits A Doctor 3 Times a Year Profiles and Those Who Use Concierge Services Targets Concierge Service Users Persuadables Holdouts Total 20% 57% 46% 34% Use other concierge service 82% 100% 58% 41% Age % 57% 46% 38% HHI $300, % 59% 49% 46% Three or more on health insurance plan 70% 62% 52% 50% Have dependent children 73% 64% 57% 48% Average annual trips to a doctor s office Average annual family trips to a doctor s office Willing to pay more for HC (strongly agree) 79% 60% 53% 42% Use a mobile app. to make appointments 17% 11% 5% 4% Visited a walk-in clinic 37% 28% 21% 15% Concierge Key is very appealing 90% 42% 29% 2% Concierge Key is very unique 72% 50% 49% 35% 11
12 Frequency of Doctor Visits The target audience visits the doctor far more often than the general population. Individuals visit the doctor 7 times per year roughly twice the number of visits the general population makes, as reported by the CDC. 1 Those in our target audience with more than two people on their insurance plan report having an average of 18 visits a year. The Targets profile, those most likely to purchase Concierge Key, make the most visits of any profile. Average American Visits A Doctor 3 Times a Year Total individual visits Total household visits Number of physicians seen Overall Gender Male Female Age Household income $150,000 - $299, $300, Profile Average Annual Doctor Visits Targets Persuadables Holdouts Additional data points for comparison: The general population makes a total of 3 visits to a physician each year. 1 53% of visits are to primary care physicians, while 47% are to specialists. 1 Q7: To the best of your knowledge, how many trips to the doctor do you take in a typical year? Q9: To the best of your knowledge, how many total trips to the doctor does everyone in your entire household take in a typical year? Q70: Approximately how many different healthcare providers do you or your family usually see in a given year? 12
13 Breaking Down Visits by Time Concierge Key s audience estimates that a trip to a physician takes an average of 53 minutes. Nearly half of that time is spent in the waiting room, filling out forms and waiting to be seen. Reducing time spent in the office represents an area that Concierge Key can have significant impact for patients. It s interesting to note that Concierge Key audience estimates that they spend even less time with the doctor than the general population. 1 This may be because of their more urban setting or higher expectations. Average Minutes Dedicated to Each Element of Doctor Visit 8 minutes 16 minutes Being seen by the doctor Filling out paperwork or forms minutes Waiting in the examination room minutes total Waiting in the waiting room 18 minutes Additional data points for comparison: According to the CDC, a patient spends 23 minutes, on average, with their physician during each visit to the office, 1 while spending 18 minutes waiting to be seen. 8 The average wait time to see a physician specializing in cardiology, dermatology, obstetrics-gynecology, orthopedic surgery, or family medicine is 24.1 days. 2 Q62-Q65: On average, how much time do you spend doing each of the following activities before or during a trip to the doctor? Please enter your estimate in minutes. 13
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