VR is very relevant 4 kids: Business modeling for virtual reality in healthcare

A healthcare organization in the Netherlands, in collaboration with their research partners and a Virtual Reality (VR) company, have been developing an innovative product for rehabilitation care, the VReye!. This prototype product aims to close the gap between the clinic and the real world, by allowing children with developmental coordination disorder (DCD) to learn how to ride a bicycle in a safe VR environment. The objective of our study was to create a Business Model for this VR product. First, a structured literature review was performed (Wolfswinkel, 2013). Next, 14 interviews were conducted with different stakeholders. The data was analysed with the method of Miles and Hubermann (2014). For the business modeling we used the STOF model (Service, Technology, Organization Finance) (Haaker et al, 2013). The literature study showed that the eye tracking function of the VReye! would be of additional value in the rehabilitation of children with DCD. In addition, the organization and financial aspects of VR in healthcare were insufficiently reported. Based on the interview results, we propose an early-stage business model. In this model, the most viable option for the VReye! is to first apply for a research funding to cover the development stage towards a medical product. For the latter, a possible suitable model would be centered around health insurance companies, in which the VReye! is offered as a service to healthcare organizations. Business modelling for VR in healthcare is still underdeveloped. We proposed a possible business model of a specific case: the VReye! The STOF model was found effective in this case. More research is needed to investigate its suitability in daily clinical context.