Value Proposition
Backyard Biomedical’s core values include a commitment to customer needs, high quality and accuracy, and continuous improvement. We aim to reduce the risk of unnecessary C-sections in the delivery room by improving the performance, design, and usability of fetal blood sampling methods. Our Fetal pH Analyzer will provide a rapid and accurate diagnosis of fetal distress.
Customer
Segments
We are focused on aiding our end users: doctors and nurses. They will be utilizing our device in the delivery room to properly monitor fetal distress.
Our buyer archetype is hospitals and healthcare providers who will be purchasing our device to provide to doctors and nurses.
Revenue
Streams
Our revenue model is based on direct sales of our Fetal pH Analyzer to hospitals as well as through selling our device to insurance companies that act as mediators to hospitals.
Our product is a one-time-use, disposable device, which means it will be continuously in demand by our customers. This ensures that we will continue to profit from our product sales.
Customer
Relationships
Our customers seek to provide their patients with high quality healthcare.
We hope to establish a personal assistance relationship with our customers by allowing them to communicate with customer representatives for assistance during any portion of the pre and post sales process. We will provide customer support through our website, email, and telephone.
We will maintain contact with our customers in order to receive feedback on the functionality of our device so we can continue to improve our product.
Competition
The only other product similar to our Fetal pH Analyzer is the Fetal Scalp Blood Sampling Kit. These kits are sold by multiple companies based in Europe and are not available in the United States. The blood sampling kit consists of multiple components that are used in steps to clean the sample area, make an incision, and collect the blood. Once the blood is collected, it then needs to be sent to the lab for pH analysis. These multiple steps make it a complex and time consuming procedure. It can take around 18 to 30 minutes to get a pH reading, which is a long time to determine if the fetus is in distress. On the other hand, our pH analyzer provides a more rapid procedure plus pH reading within 5 minutes.