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Market & Strategy
MSoft has successfully competed in the UK market place since 2006 developing a need for its products and then marketing its products into that need. The market for the MSoft Blood Management software solutions is huge as every country in the world experiences the same problems the UK market experiences.
The problem is simple; Blood Products are an expensive human commodity with a shelf life that if not managed properly can kill the Patient. Each country has to collect Blood from Donors and manage the Donated Blood according to ISBT guidelines and make sure that Blood is Transfused into the correctly identified Patient.
The market for these software products is built around a Patient Safety focused message and a cost saving message for the Hospital. The MSoft Blood Management Products ensures the Right Patient receives the Right Blood – these products mitigate injury to the Patient and provides an extra set of eyes and a guiding hand during Sample Collection, Blood Cold Chain Management and Transfusion.
From a Patient Safety point of view Hospitals in the UK have seen Sample Rejection rates fall from as much as 10% to near 0% in the first month of usage – an average Hospital in the UK with a 10% rejection rate will see annual saving of £30,000 per year.
Managing the Blood Products themselves using the MSoft suite of products through to Transfusion have been found to see a Cost Benefit Ratio of as much as 6 to 1. So for every £1 a customer spends they would save as much as £6.
For these 2 reasons Hospitals have found that they are better off with the MSoft suite of products rather than without them as it is a win-win scenario that senior managers and C-level personnel can instantly understand and invest in.
The market is mature but still growing in the UK both within the Public and Private Hospital sectors – each has its own marketing strategy but both benefit from huge cost savings and more importantly huge improvements in Patient Safety.
This UK market can be duplicated into all overseas markets thanks to the fantastic standardisation work being done by the ISBT*. The ISBT ensures all Blood Products throughout the world are handled the same way through shared knowledge and understanding – in fact the ISBT hosts a worldwide conference for all member countries to attend to hear of advances in Blood Science and management of Blood Products.
This also means the knowledge and lessons lear ned in the UK are instantly recognisable and applicable in overseas markets. The UK also provides many years of data showing real Patient Safety data and cost benefit analysis.
What’s in it for you?
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