degrees. But there was the nagging doubt in
their minds that the business plan they pre-
pared for class had more potential for them
as a new venture than going back to their for-
mer positions. They felt that they had identi-
fied a significant value-added opportunity in
the growing health-care and medical services
industry. They could see that RFID technol-
ogy was clearly both relatively simple to
implement and very cost efficient. But
because none of the students had direct
access to professionals in the field or direct
experience with either RFID technology or
hospital administration, they did not know
where to turn for the next step.
Should they:- Quit their day jobs and work on this
full time? - Continue at their current jobs and use their
spare time to see if the opportunity had
legs? - Pool their money to hire someone who
could get the business off the ground? - Forget about it and get on with their lives?
- Something else?
The plan for MedTrack is presented below
with some editing for space considerations.
EXECUTIVE SUMMARY
Company: MedTrack
5555 Medvision Blvd
Cureonia, CA 75098, USA
Ph: (924) Med Track
Fax: (924) Med 9 Fax
Web Site: http://www.MedTrack.Com
Contact: Ivanette Bonilla
Type of Business
MedTrack designs, develops, and markets
RFID solutions to hospitals to help hospitals
track vital supplies and critical equipment.INTRODUCTION TO MEDTRACK
The capstone course at the Kelley School of
Business’s online MBA program is a course
in entrepreneurship and new venture cre-
ation. Students are required to develop an
idea into a business plan. They go through
the following stages to reach the final plan:- Idea generation
- Idea evaluation
- Feasibility analysis including
Market feasibility
Financial feasibility
Operational feasibility
Strategic feasibility - Plan preparation
- Plan presentation
Each of these steps is intended to give the
students ample time to develop their ideas,
strengthen their business model, and tighten
their operational and financial grasp of the
start-up of a new enterprise.
In late 2005 a group of students present-
ed the MedTrack plan. The plan described an
idea to use RFID technology to help hospi-
tals keep better track of their equipment,
drugs, movable utensils, and gear. The value
proposition was that the adoption of their
system by a hospital would make that organ-
ization more efficient, save it time and
money, and most of all, save lives.
The students were all intending to contin-
ue in their current jobs (online students must
be employed to enter the program) and
careers now that they had their MBA
422 ENTREPRENEURSHIP CASE
CASE 1
MedTrack
Source: The research for MedTrack was performed by
Ivanette Bonilla, Dan Fillenwarth, Sri Sampath, and Vassil
Chalashkanov under the direction of Professor Marc
Dollinger, Kelley School of Business. The material is used
with their permission.