Objectives & Strategy

The Situation:
Why do we exist?

Despite the influx of technology in our everyday lives, the Canadian primary healthcare system is lagging behind. An under-digitized industry results in under-imagined capability and this lack of modernization has resulted in frustrations and inefficiencies that plague primary healthcare. Patients face long wait times, fragmented healthcare records, and they play a passive role in their personal wellbeing. Physicians are overworked, burdened by operational challenges, and are forced to limit their healthcare offerings to keep their clinics running. At the same time however, government investment in healthcare is growing each year. In 2017 alone, the Canadian government spent $242 billion on care delivery, representing 11% of our GDP. The industry is ripe for disruption creating significant opportunity for WELL to innovate and evolve primary healthcare.

The Solution: What are we going to do about it?

WELL’s solution to this problem is unique. We are both a primary healthcare operator and a technology innovator, allowing us to combine professional healthcare expertise with technology to better empower physicians and patients resulting in improved experiences and health outcomes. We envision a future where technological advances such as telemedicine, artificial intelligence, and machine learning can make our healthcare system more efficient, better connected, and more individualized. Using the best and latest technology, our goal is to revolutionize the market and raise the standard of care.

The Strategy: Outlined in 5 Steps

  • Acquire
  • Integrate
  • Optimize
  • Productize
  • Scale

Acquire

WELL is an active acquirer of both digital assets and primary healthcare services. Our acquisition targets are highly accretive physical and digital assets. We are the largest single chain of primary healthcare clinics in British Columbia, which gives WELL both the scale and experience necessary to integrate, optimize, and ultimately productize effectively.

Integrate

The current healthcare industry suffers significantly from interoperability challenges. Although acquisitions help us obtain many of the important pieces needed, it is essential that they work well within the context of primary healthcare practices. By focusing on the integration of technology into its own practice’s existing EMR and daily operations, we can reduce integration and implementation friction at the point of care.

Optimize

Implementation in our own clinic network creates a real-time feedback loop allowing for iterative development and improvement of our software and technology solutions. Patient and healthcare professional feedback provides invaluable insight allowing for optimization of our products and services.

Productize

WELL strongly believes in sharing our findings and innovations with the rest of the world. Once optimized, WELL can productize and package its solutions and offer them to clinics and healthcare providers outside of our clinic network. This allows clinics who are struggling with many of the same primary healthcare challenges to benefit from our efforts.

Scale

Advancing Canada’s healthcare system is achieved by addressing its main problem: fragmentation. In smaller scale clinics, patients are often unattached and as a result are the recipients of inconsistent care. Through productization, we expand our reach and increase the scale of our business. A larger network creates the opportunity for the secure permissions-based sharing of patient healthcare records within each patient’s personal healthcare network and reduction of healthcare record fragmentation. This creates opportunities for personalized care which in turn improves healthcare outcomes.