Understanding the full service wrap and platform support costs required to scale home based preventative health product.

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MySense Ltd (MySense) is a rapidly growing UK-based healthtech SME. A subset of its team possess the wide range of expertise necessary to deliver an industrial research project that will analyse how we can support our NHS, Local Government and care provider customers identify the best cohorts of individuals that would benefit the most from using the MySense Product. The project will also design how to scale the roll out of the product to over 2000 units with one customer over a short timeframe, maximising the ROI and dramatically improving the quality of life of the vulnerable individuals that it supports. The enhancements the project will deliver to the current onboarding process will benefit the public and private sectors and people suffering from health vulnerabilities, generating a year-5 post-project revenue of £314M against an original projected revenue of £24M.Unmet needThere are very few monitoring products that can predict decline in functional independence through monitoring activities of daily living and overlaying health data. We have a proven product but we're selling to buyers that are struggling to scale to all the possible cohorts of vulnerable individuals that would derive value.SolutionMySense is a clinically validated home based preventative health product supporting the older population remain in their homes independently and reducing the need for clinical intervention. It provides clinicians, non clinical carers, individuals, and families with new lines of sight and supports them take proactive steps to support or change outcomes before health deteriorates. One NHS Hospital Trust we work with saw a 46% reduction in unplanned hospital admissions and an average cost saving per patient of £9000\. We now need to create a service wrap that supports the rapid onboarding of the MySense product to vulnerable individuals. This service wrap needs to be applicable to different types of NHS Trusts, Local Government and private care providers.Market OpportunityThe annual global and UK addressable/serviceable markets are £3.6T/£2T and £39B/£25B, respectively (CAGR: 28.5 % 2020--2026; Statista, 2020).ObjectivesThis industrial research project aims to 1) Identify the current blockers to scaling MySense 2) Work with customers to design a useful and scalable service wrap for onboarding more than 2000 units over a 3 month period 3) deploy and test the project outcomes with an NHS Trust, collect endorsements and independent evaluation report.