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Air Methods Corporation

Company report, featuring a PESTLE, Porters Five Forces, 5C, MOST, CATWOE and SWOT analysis

Introduction

This report on Air Methods Corporation is part of a comprehensive analysis of the world’s top 10,000 companies. To ensure the most up-to-date content, it is produced and updated at a fast pace.

Full access to this study on Air Methods Corporation is available for Premium members only.

In addition to our analytical sections, we evaluate possible new products and services, anticipate future market trends, and explore possible collaborations between Air Methods Corporation and other organisations.

Company Description

Air Methods Corporation is headquartered in Englewood, Colorado, and was founded in 1980. The company provides air medical transportation services, such as emergency flights and inter-facility transports, to patients in need of critical care. Air Methods also produces and sells aircrafts, medical equipment, and safety gear used in air medical transport. The company serves markets across the U.S., including hospitals, health systems, and public and private payors.

Industry Overview

Air Methods Corporation operates in the air medical transportation industry, which is estimated to be worth over $1 billion in US Dollars. This industry employs over 10,000 people globally, with a majority of those employed in the United States. The air medical transportation industry is also rapidly expanding, with new markets opening up in both the United States and abroad. In addition, many of the employees in the industry are based in countries such as the UK, Canada, Australia, and New Zealand.

Industry Classification

In terms of formal classification, Platform Executive has tagged Air Methods Corporation as a business operating within the Other Transportation industry.

Table of Contents

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Intellectual Property

Some of the Patents granted to, or relevant to the organisation include the following:

Patent Title: Method and apparatus for bonding composite structures
Patent ID: 10582545
Date: Aug 20, 2020

Patent Title: Aircraft control system
Patent ID: 10582268
Date: Aug 20, 2020

Patent Title: Aircraft control system
Patent ID: 10582088
Date: Aug 20, 2020

Patent Title: Method for controlling an aircraft
Patent ID: 10582087
Date: Aug 20, 2020

Patent Title: Method and system for controlling an aircraft
Patent ID: 10582086
Date: Aug 20, 2020

Patent Title: Aircraft control system
Patent ID: 10582085
Date: Aug 20, 2020

Patent Title: System and method for controlling an aircraft
Patent ID: 10582084
Date: Aug 20, 2020

Patent Title: Method and apparatus for controlling an aircraft
Patent ID: 10582083
Date: Aug 20, 2020

Patent Title: System and method for controlling an aircraft
Patent ID: 10582082
Date: Aug 20, 2020

Patent Title: Method and system for controlling an aircraft
Patent ID: 10582081
Date: Aug 20, 2020

Patent Title: Method and system for controlling an aircraft
Patent ID: 10582080
Date: Aug 20, 2020

Major Products & Services

The main products and/or services commercialised by this business include the following:

  • Air Medical Transport Services
  • Air Medical Training
  • Air Medical Equipment Sales
  • Aircraft Leasing
  • Aircraft Maintenance
  • Safety & Compliance Services
  • Education & Simulation
  • Facility Design & Construction
  • Medical Services & Support

Key Competitors

We have identified the following organisations as being key competitors:

  • PHI Inc
  • Air Medical Group Holdings
  • Air Evac Lifeteam
  • Med-Trans Corporation
  • CALSTAR
  • Air Medical Resource Group
  • AirMed International
  • Life Link III
  • Guardian Flight
  • Reach Air Medical Services
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Key Stakeholders

Stakeholders are individuals or groups who have an interest in a business and/or are affected by its actions.

These stakeholders can have different requirements and expectations from the business, which must be taken into account when making decisions.

By understanding their stakeholders’ requirements, a business can make informed decisions that benefit all involved.

Below is the list of internal and external stakeholders we have identified for this business:

1. Patients: Viracta Therapeutics Inc. provides treatments for rare and difficult-to-treat diseases such as acute myeloid leukaemia (AML).

2. Investors: Viracta Therapeutics Inc. has attracted funding from venture capitalists, private investors and strategic partners to support its innovative research programs.

3. Scientists: Viracta Therapeutics Inc. has a team of experienced scientists who are working to discover new treatments for rare diseases.

4. Physicians: Viracta Therapeutics Inc. is partnering with doctors to ensure that their treatments are safe and effective for patients.

5. Healthcare providers: Viracta Therapeutics Inc. is partnering with healthcare providers to ensure that their treatments are available and accessible to patients.

6. Regulatory bodies: Viracta Therapeutics Inc. must comply with the regulations of the relevant regulatory bodies in order to receive approval for its treatments.

Value Proposition

A value proposition explains the unique value and/or benefits that an organisation provides to its customers, partners, stakeholders and the overall market. It outlines what makes a company like Air Methods Corporation different from its competitors, along with what it can offer that key competitors cannot.

A corporate value proposition can be used with the competitive advantages section of this report in order to better understand Air Methods Corporation and its position within the marketplace.

Air Methods Corporation provides innovative medical technology products and services to help improve patient care.

Competitive Advantages

Competitive advantages are unique attributes, strategies, resources, or capabilities that allow an organisation to outperform its competitors and achieve superior market position and profitability.

Competitive advantages for the business include the following:

Air Methods Corporation is the world’s largest provider of air medical services, operating more than 300 medical helicopters and fixed-wing aircraft in 48 U.S. states and two other countries.

Air Methods Corporation has access to the most advanced aircraft and medical technology available.

Air Methods Corporation has established a reputation for providing safe, reliable, and high-quality air medical transportation services.

Air Methods Corporation has a comprehensive network of bases strategically located across the United States, providing greater access to air medical services in rural and remote areas.

Air Methods Corporation has an experienced, professional, and highly-trained crew of pilots, medical personnel, and mechanics.

Air Methods Corporation's fleet of aircraft is among the most modern and well-maintained in the business.

Air Methods Corporation offers a variety of services and programs to assist patients in meeting their air medical transportation needs.

Air Methods Corporation has an extensive safety and quality management system in place to ensure the highest quality of service.

Air Methods Corporation has built a strong base of loyal customers due to its commitment to customer service and satisfaction.

Customers & Cohorts

As part of this competitive intelligence study, we have identified the main customers of the organisation.

These include the following cohorts:

  • Emergency Medical Services (EMS)
  • Air Medical Transport
  • Fixed-Wing Aviation
  • Rotary-Wing Aviation
  • Government/Military
  • Specialty Services
  • Flight Training
  • Leasing and Maintenance

Market Trends

Market trends can impact an organisation by influencing consumer behavior, altering supply and demand dynamics, and affecting the organisation's ability to remain competitive in the market.

As part of this study, we have identified a number of potential short-term to medium-term trends that could impact the organisation. These include the following:

Key Market Trends
Increase in Demand for Medical Helicopters: Air Methods Corporation is the largest provider of medical helicopters and services in the United States, and the demand for these services is increasing. With an aging population and advances in medical technology, the need for air medical transport is projected to increase. This could create an opportunity for Air Methods to expand its services and increase its market share.

Technological Advances: Advances in technology are transforming the aviation industry, and Air Methods is no exception. The company is making investments in the development of advanced technology such as autonomous aircraft and remote-piloted vehicles. These could open up new opportunities for Air Methods to provide services to customers at a lower cost.

Consolidation of the Air Medical Industry: The air medical industry is highly fragmented, with many small regional operators. Over the coming years, consolidation is likely to occur, with larger companies absorbing smaller ones. This could provide opportunities for Air Methods to expand its market share and increase its revenue.

Increase in Private Air Medical Service: Private air medical services are becoming increasingly popular as a means of providing medical transport services to those who require it. This could provide a new revenue stream for Air Methods, as well as an opportunity to develop partnerships with private air medical providers.

Key Performance Indicators

Key Performance Indicators

Below is a list of KPI's that we have identified as being strategically relevant to this organisation:

Financials (BETA)

The key financials for Air Methods Corporation include income statements, which can be found in their annual reports. These financial statements provide information on the organisation's financial performance and health, including revenue, expenses, and profits. This information, along with other indicators are used by investors, analysts and other stakeholders to evaluate the company's performance and future prospects.

Where a financial does not match, we have included those of the parent company (if a listed entity). If the financials are missing please contact us and we will prioritise the update.

Key Financials

Key Personnel

Income Statement

Highlights

Top-level corporate stats and financial highlights for the listed entity, include:

Share Performance

Below is the current (EOD) share performance for the company, or its listed parent:

Potential Products/Services

As part of this study we have attempted to prognosticate potential products and/or services this organisation could develop in the short to medium-term.

Air Ambulance Services: Air Methods Corporation could offer air ambulance services that would transport critically ill or injured patients to the nearest hospital. This would involve providing helicopters, airplanes, and other aircraft to quickly transport patients to the appropriate medical facility.

Emergency Medical Training: Air Methods Corporation could offer emergency medical training services to help medical professionals and first responders stay up-to-date on the latest medical procedures and treatments. This could include online courses, workshops, and lectures.

Medical Supply Distribution: Air Methods Corporation could offer medical supply distribution services to hospitals and medical facilities. This could involve delivering medical supplies and equipment to remote locations, or providing on-site medical supplies for emergency medical personnel.

Aerial Imaging Services: Air Methods Corporation could offer aerial imaging services to help locate and monitor remote locations. This could involve using drones or other aircraft to take aerial photographs and video for various uses, such as mapping, surveying, and disaster relief.

Air Medical Transport Services: Air Methods Corporation could offer air medical transport services to transport patients from one hospital or medical facility to another. This could involve using helicopters, airplanes, or other aircraft to quickly and safely transport patients.

Potential Synergies

Using our product and portfolio-matching algorithm, we have determined that the following organisations have potential synergies with the company:

1. Medical Device Manufacturers
2. Ambulance Services
3. Emergency Medical Services
4. Hospitals
5. Medical Transportation Services
6. Airports
7. Helicopter Operators
8. Aviation Service Providers
9. Health Insurance Providers
10. Government Agencies

Porter's Five Forces

Created by Harvard Business School Professor Michael Porter in 1979, Porter's Five Forces model is designed to help analyse the particular attractiveness of an industry; evaluate investment options; and better assess the competitive environment.

The five forces are as follows:

  • Competitive rivalry
  • Supplier power
  • Buyer power
  • Threat of substitution
  • Threat of new entries
Air Methods Corporation scores HIGH in terms of supplier power and competitive rivalry. The company has a strong brand and a large customer base, which gives it bargaining power when negotiating with suppliers. Additionally, the company has a large number of competitors, which keeps prices LOW and limits the ability of suppliers to raise prices. However, Air Methods Corporation scores relatively LOW in terms of buyer power and threat of substitutes. The company has a relatively small number of customers, which gives them little bargaining power. Additionally, there are few substitutes for air travel, which gives customers little choice if they are unhappy with the service.

PESTLE Analysis

This PESTLE analysis is a strategic planning tool that assesses key external factors affecting the organisation, including the following:

  • Political
  • Economic
  • Social
  • Technological
  • Legal
  • Environmental

Each of these factors is analysed to determine their impact on the organisations strategy, objectives, and operations.

By utilising a PESTLE analysis, the organisation can make better decisions and develop strategies to address potential risks and opportunities.

PESTLE Analysis

CATWOE Analysis

CATWOE

The CATWOE analysis is used to investigate each stakeholders perspectives in order to enable the business to make informed decisions.

The CATWOE analysis is a problem-solving tool consisting of six elements:

  • Customers
  • Actors
  • Transformation process
  • World view
  • Owners
  • Environmental constraints

We view the CATWOE as being most useful when used in conjunction with other problem-solving tools such as a SWOT analysis.

Customers: Air Methods Corporation provides emergency medical services to their customers, mainly hospitals, emergency medical services (EMS), fire departments, and healthcare networks. Air Methods Corporation also provides critical care transportation services to its customers, including medical personnel and equipment.

Actors: Air Methods Corporation’s actors include pilots, medical personnel, maintenance personnel, air traffic controllers, regulatory agencies, and insurance companies.

Transformation process: Air Methods Corporation’s transformation process involves providing its customers with safe and efficient air medical transportation services. This includes transporting patients from point A to point B, providing medical personnel and equipment, and ensuring a safe and timely flight.

World view: Air Methods Corporation seeks to provide its customers with the highest quality of care and service while ensuring the safety of its passengers and personnel. Air Methods Corporation is committed to providing the best possible care and service to its customers while adhering to all applicable safety regulations.

Owners: Air Methods Corporation is publicly traded and owned by its shareholders.

Environmental constraints: Air Methods Corporation is subject to various environmental constraints, including air traffic control regulations, weather conditions, terrain, and aircraft capabilities. Air Methods Corporation must also adhere to all applicable safety regulations to ensure the safety of its passengers and personnel.

SWOT Analysis

This SWOT analysis is a strategic planning tool used to assess the strengths, weaknesses, opportunities and threats of the Air Methods Corporation business.

When creating this SWOT the team at Platform Executive have taken into consideration the corporate strategy; brand; key financials; the competitive landscape; along with the products and/or services offered.

To offer increased context for future innovation and product development we also consider the historical context for the business and industry; and perceived direction of travel.

Upon researching the company, we have uncovered a number of strategic and operational strengths, weaknesses, opportunities and threats.

SWOT Analysis

Strengths

Below is a list of the strengths we have identified for the business:

1. Air Methods is the largest provider of air medical services in the U.S., with a fleet of over 450 helicopters and fixed-wing aircraft.

2. The company has a strong safety record, with a comprehensive safety management system in place.

3. Air Methods has a large and experienced team of pilots, mechanics, and medical personnel.

4. The company has a nationwide network of bases, allowing it to provide prompt and efficient service to patients.

Opportunities

Below is a list of opportunities we have identified for the business:

1. Increase the reach of Air Methods Corporation’s services to more rural and underserved areas. This could be done through expanding existing service areas and creating new partnerships and agreements with local hospitals and EMS providers.

2. Increase efficiency by utilizing new technologies to improve communication, speed up response times, and reduce operational costs. This could involve digitizing paper processes and creating digital workflows that streamline communication with patients and healthcare providers.

3. Improve patient safety by investing in safety initiatives and programs. This could include implementing safety policies and procedures, providing safety training to staff, and investing in the latest safety equipment.

4. Expand the scope of services offered by Air Methods Corporation. This could involve offering additional medical services, such as neonatal transport or critical care transport, to better meet the needs of patients.

Weaknesses

Below is a list of the weaknesses we have identified for the business:

1. Air Methods has been slow to embrace new technology and has lagged behind its competitors in terms of innovation.

2. The company has been overly reliant on its helicopter business and has not diversified its revenue streams enough.

3. Air Methods has been slow to adapt to changing customer needs and has been losing market share as a result.

4. The company has been facing increasing pressure from low-cost competitors and has been struggling to remain profitable.

Threats

Below is a list of the threats we have identified for the business:

1. Increasing competition: Air Methods Corporation faces increasing competition from other air ambulance companies, both in terms of pricing and quality of service. This could lead to a decrease in market share, putting pressure on the company’s bottom line.

2. Rising costs of aircraft parts and services: Air Methods Corporation relies heavily on aircraft parts and services to keep their aircrafts in safe and reliable condition. As prices for these parts and services increase, the company’s operating costs also rise, negatively affecting their profit margins.

3. Regulatory changes: Regulatory changes, such as new safety standards, can have a major impact on Air Methods Corporation’s operations, as they must ensure that their aircrafts are compliant with all applicable regulations. This can lead to additional costs and delays in operations.

4. Technological advances: Technological advances, such as the development of autonomous aircraft, can potentially disrupt Air Methods Corporation’s business model, as they may no longer need to rely on human pilots to transport patients. This could lead to a decrease in the company’s operating costs, but also a decrease in demand for their services.

5C Analysis

The 5C Analysis is a marketing framework that can be used to provide insight into the key drivers of success, as well as the risk exposure to various environmental factors.
This (concise) 5C analysis examines the external and internal environment for Air Methods Corporation. It includes analysing the company's customers, competitors, collaborators, context, and capabilities. We have produced this short analysis to identify potential opportunities and threats to Air Methods Corporation, as well as areas where the company needs to improve its operations or strategy.
Company: Air Methods Corporation is a leading air medical transport services provider in the United States, with a mission to provide the highest quality of compassionate air medical transport services to patients in need. The company prides itself on its strong safety record, experienced medical teams, and reliable aircrafts.

Collaborators: Air Methods Corporation works with a variety of partners to provide its services, including hospitals, EMS agencies, health insurance companies, and other air medical transport providers.

Customers: Air Methods Corporation's customers are primarily patients who require the safe and timely transport of medical personnel and equipment to the appropriate medical facility.

Competitors: Air Methods Corporation faces competition from other air medical transport providers, as well as ground-based ambulance services.

Content: Air Methods Corporation provides a wide range of content related to air medical transport services, including safety information, medical protocols, aircraft specifications, and patient testimonials. The company also offers educational resources and training programs for medical personnel.
5C Analysis

MOST Analysis

MOST Analysis

The MOST analysis framework is commonly used to identify an organisation's strategic goals, assess its strengths and weaknesses, and develop a plan to achieve its objectives. This analysis helps organisations to focus on what they want to achieve and how to achieve it, while also identifying potential roadblocks or obstacles that may arise along the way.

  • Mission
  • Objectives
  • Strategy
  • Tactics

We have created this analysis from a 3rd person perspective.

Innovation Scorecard

As part of our research and analysis activity, the team at Platform Executive assesses and then benchmarks businesses and the industry verticals in which they operate using a proprietary scoring mechanism.

First, we allocate a score of A-E for the industry vertical, gauged on the key organisations operating within the space; and then score the individual business using a 1-5 score.

A score of D-E within an industry means that it is potentially ripe to be disrupted by a new entrant into the marketplace; and/or vulnerable to technological change.

Likewise, a high score of 4-5 for the company in question indicates that in the view of the analysis team it lags behind notable businesses in terms of innovation and product pipeline.

Innovation Scorecard

Below is a guide to each score:

Industry score:

A The industry is amongst the most innovative; with the leading players all driving the sector forward.
Example industry: PaaS
B The industry and its leading players have a good track record of innovation; and can quickly react to change.
Example industry: Pharmaceutical
C Companies operating within the sector have adequate levels of innovation; and engage in R&D activities when appropriate.
Example industry: FMCG
DBusinesses operating in the industry do not invest enough time and resource into innovation. The sector is stagnant and a good candidate for disruption.
Example industry: Retail Banking
E The major players in the sector seem to lack suitable product development roadmaps; and as a result the sector is highly vulnerable to industry change.
Example industry: Publishing

 

Company score:

1 The business is amongst the leading players in terms innovation and product pipeline. This will fulfil and reinforce the operations of the business in the medium to long-term.
2 The business has a good track record of innovation, in terms of its products and/or its business model. It is therefore more likely to be able to react and adapt to any changes to the industry.
3 The business is deemed to have an adequate innovation plan, build on research and development and sustainability where appropriate. The business has a product development strategy.
4The business needs to invest more resource and/or intellectual capital in product development, pipelines and/or its business model. The business is at risk of stagnation.
5 The business seems to lack a suitable product development roadmap; and as a result is vulnerable to any notable industry change and/or new entrants in the marketplace.
The team at Platform Executive has judged Air Methods Corporation as having an innovation score of C3.

Appendices

The appendices section of this report contains supplementary information that the team at Platform Executive deems helpful in providing a more comprehensive understanding of the report's contents.

This information is not considered an essential part of the study but serves as a useful supplement to the main text.

Methodology

This study on Air Methods Corporation forms part of our series of competitive intelligence reports, which focuses on 10,000 of the largest corporates.

The information and data included are updated on a timely schedule to ensure that our Premium members receive the most up to date information .

The report is based on information and learning from the following sources:

  • Corporate websites
  • Proprietary research databases
  • SEC Filings
  • Corporate press releases
  • News articles
  • Financial data API's
  • Product-matching algorithm

Further Information

Premium members: If you cannot find the desired information or data set for the business you are researching then please reach out to our research and analysis team. We can tailor reports to meet your requiremnents, with a fast turnaround time.

If you require a bespoke study on a particular industry vertical, or marketplace we may also be able to help.

Disclaimer

All Rights Reserved.

Reproduction of the content produced in this report is prohibited without the prior permission of the publisher, Platform Executive Pty Ltd.

The facts of this report have been gathered in good faith from both primary and secondary sources. It is believed to be correct at the time of publication, but cannot be guaranteed. As such Platform Executive can accept no liability whatever for actions taken based on any information that may subsequently prove to be incorrect.

Changelog

Premium members: To request a priority update to this report, please contact us. Our standard turnaround time is normally 48 hours.

The changelog for this report can be found below, complete with the next scheduled update:

v1.1: Initial load of report
Date: 1st March 2023

Key Financials added (BETA)
Date: 17th March 2023

Next scheduled update: 25th April 2023

Industry Keywords

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