Founder & CEO of iHear Medical
With widespread access to the Internet globally, healthcare is rapidly shifting from centralized clinical settings to communities and homes. Consumers can now go online to review and order healthcare products and services, connect with healthcare providers, and undergo a range of diagnostics and therapeutics without leaving the comfort of their communities. As an entrepreneur, I noticed that web-based healthcare presented an enormous opportunity and the principles of blue ocean strategy provided me with a means to tap into this market.
I can’t image starting another medical device company without thinking Blue Ocean Strategy. BOS helped us focus on consumer needs and creating uncontested markets.
iHear offers the world’s first web-enabled invisible hearing solution. Our customers get their hearing aid delivered directly to their home, and our online tools enable them to get started right away by customizing the device. While incumbents are entrenched in their red ocean business models, our blue ocean approach not only delivers superior value for the customer, it also resulted in a huge cost saving. Therefore we can offer our product at $300, which is almost 10 times cheaper than traditional hearing solutions. As we now look towards expanding the business, we continue to apply blue ocean strategy tools and frameworks.
Find out more about the iHear on the official website.