Assignment Instructions
In this week, you will be working on Part 1 of the Capstone Project.
Introduction
As a Healthcare Leader, you are entrusted with creating an integrated AI-Enabled
system to cater to the challenges being faced on customer/patient churn, and this AI
system will also double up as a system for providing 24x7 health assistance through the
Virtual Health Assistant.
As part of this Capstone project submission, you are expected to apply the leadership
learning in three stages across the next three weeks.
Data Points
As per IBEF Report on Healthcare (https://www.ibef.org/industry/healthcare-
presentation
Links to an external site.
) there is a need for additional three million beds to achieve the target of 3 beds per
1,000 people by 2025, leading to an expected spend of over US$ 500 billion on medical
infrastructure by 2030.
On the Health-Tech side, there is a recent surge in VC investments in the healthcare
sector in India. India currently holds the fourth position in attracting VC funds to the
health-tech sector, with investments of US$ 4.4 billion between 2016- 21, with US$ 1.9
billion invested in 2021 alone.
The medical devices market is expected to reach cross US$ 11 billion by 2023, backed
by rising geriatric population, growth in medical tourism and declining cost of medical
services.
Telemedicine is a growing segment and will have to leveraged to its fullest
(https://health.economictimes.indiatimes.com/news/industry/telehealth-telemedicine-
market-to-reach-285-7-billion-by-2027-marketsandmarkets/90823179
Links to an external site.
).
Pain Point (Organizational level)
Customer churn in the healthcare delivery system is measured in various ways, such as
patient retention rates, the number of patients who switch healthcare providers, or the
frequency of missed appointments.
Some potential data points related to customer churn in the healthcare delivery system:
Patient complaints: The number of complaints that patients have filed in the last month
is in excess of 460 as against 400 the previous month with a total patient foot fall of
3200 on a monthly average.
Complaints are related to issues such as poor quality of care, long wait times, difficulty
accessing care. A high number of complaints indicate that patients are dissatisfied with
the care they receive and may be more likely to switch to another provider.
The Patient satisfaction scores are on the downfall due to the dissatisfaction with the
quality of care and services they received.
The AI System will have to address the challenges and improve the Patient retention
rate and reduce the switching rate: The present Patient retention rate is abysmally low
at 34% and the target is to achieve 75% in the next 1 year and reduce the switching rate
to less than 10% in the same time period.
Refer the Reading Material section for some additional insights on the Pain Points
Reading Material
Why Patients Churn (and How to Stop Them) https://guidewaycare.com/how-to-reduce-
patient-churn-in-healthcare/
Links to an external site.
How to Leverage Patient Data to Communicate Better and Reduce Patient Churn
https://infowerks.com/reduce-patient-churn-patient-data/
Links to an external site.
Reasons for missed appointments https://healthcare-communications.com/patient-
insight-reasons-for-missed-appointments/
Links to an external site.
Task
Understand the pain points and align the learnings in building a robust strategy and plan
of action for developing the AI-assisted virtual health assistant to solve the two major
pain points.
Create an AI-assisted virtual health assistant to reduce patient churn and establish a
system for continued healthcare monitoring and treatment to provide seamless patient
care.
An AI system that will help gather and analyse health data to ensure that the patient is
monitored 24x7 and has the capabilities to decipher the seriousness of the patient’s
condition and provide valuable insights to the different remote care teams for timely
treatment.
This AI system will also have an automated health response capability to handle day-to-
day non-emergency interactions with patients.
Submission
Stage-1 – Outline the strategy and the roadmap for conceptualizing and implementing
the AI System addressing the pain points. Mention ways in which you will be harnessing
the available data; aligning with the trends and positioning the integrated AI system to
bring about the value creation through effective data-driven business innovation
Submission Instructions:
● Record your responses in a word document.
● Rename the document as ISB_LAI_Capstone_Project_<Part
Number>_<Your_Name>.doc
● After you complete your assignment, select the Start Assignment button at
the top of this page.
● Upload the file containing your responses.
● Select the Submit Assignment button to submit your responses
Suggested Time: 1 week
Note: This is a required assignment and counts towards programme completion.
Criteria Response
How well does the participant demonstrate an
understanding of applying the strategy in a
structured manner?
How well does the participant elucidate ways to
harness the data and align with the trends?
How well does the participant demonstrate an
understanding of Value creation that the AI
system will bring about?
How well does the participant demonstrate an
understanding of effective data-driven business
innovation?
Communication/writing the draft ability of the
participant
