Win over investors with a killer telemedicine pitch game

  • Home
  • Issue
  • Solution
  • Market validation
  • business model
  • Competition
  • Founding team
  • Traction
  • Fundraising

Issue

Imagine having a mild headache that just won’t go away. You’re too busy to make a doctor’s appointment or head to the hospital, so you take some painkillers and try to ignore it.

Unfortunately, ignoring minor health issues is a common occurrence for many people. More than 80% of patients admit to delaying medical care, which led to serious consequences later. Some common reasons include awkward appointments, long lines, and transportation issues.

Lately, with the covid pandemic, the problem has further increased with people becoming fearful of crowded hospitals and waiting rooms.

So what’s the problem?

The problem is that for minor health issues that need immediate attention, people don’t have easy access to medical professionals. Consequently, minor problems can become major ones, which require extended hospital stays, complex procedures and higher expenses.

What is the relevance of the problem?

The problem of delayed access to health care is an urgent problem that affects millions of people around the world. According to a study by the American Hospital Association, 44% of Americans have delayed or avoided medical care due to the covid pandemic.

The problem is acute, with minor health issues leading to serious consequences. In the United States, for example, health care costs can be prohibitive, leaving the public with limited options.

What is the current solution?

The traditional approach to getting medical care is to make an appointment with a primary care doctor or visit an urgent care center or hospital. While these approaches can work, they can be time-consuming, inconvenient, and expensive.

Why does the problem exist?

The problem of delayed access to health care exists because traditional health care delivery systems do not provide convenient or timely access to medical care. There is an urgent need for a solution that provides patients with the ability to receive medical advice and care quickly, conveniently and affordably.

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Solution / value proposition

As the demand for healthcare services continues to increase, our telemedicine business offers a cost-effective and convenient solution for patients to receive quality medical consultations and treatments from the comfort of their homes . Our platform connects patients with licensed healthcare professionals who can provide diagnoses, prescriptions and medical advice through video or phone consultations.

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Our telemedicine platform is designed to be user-friendly and accessible , so patients of all ages and technical abilities can use it easily. Our software is compatible with all devices and operating systems, making it simple for patients to connect with doctors whenever they need to.

Our telemedicine solution offers convenience, cost-effectiveness and quality medical care to patients who are often overburdened with financial and time constraints. Patients no longer have to go through the hassle of scheduling appointments or traveling long distances to see a doctor. Patients can easily connect with a healthcare professional and receive quick and accurate medical advice simply by using their smartphone or computer.

Additionally, our telemedicine solution emphasizes patient privacy and safety by encrypting all communication and data exchange between patient and healthcare professional. This increases the level of trust that patients have in our system, thereby encouraging greater use of our telemedicine platform for their healthcare needs.

  • Does this really solve the problem discussed?
    Yes, our telemedicine business solves the problem of limited access to quality healthcare services by providing a cost-effective, convenient and secure solution for patients to receive medical consultations and treatments.
  • Is the solution so good that the customer will do anything to get it?
    Yes, our telemedicine solution is so good that patients will prefer to use it because it is convenient, cost effective and provides quality medical care.
  • How will the customer feel after using the solution?
    The client will feel satisfied and relieved to be able to get quality medical care quickly and easily without any inconvenience.
  • Is the solution amazing?
    Yes, our telemedicine solution is amazing as it provides a complete solution to the problem of limited access to quality healthcare services.

Market validation

Telemedicine is a rapidly growing industry that meets the healthcare needs of patients remotely, using technology such as videoconferencing, remote monitoring, and other digital communication methods. The telemedicine market is expected to reach 5.6 billion by 2026, growing at a CAGR of 15.1% during 2021-2026. This industry has been gaining ground owing to various factors such as increasing demand for affordable medical services, growth of smartphones and other mobile devices, aging population, and rising medical costs.

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The telemedicine market includes many specialties, including primary care, mental health, chronic care management, and dermatology. Each specialty has unique characteristics that impact revenue per customer and the sales cycle. For example, primary care services are low-volume, low-acuity services that typically result in lower reimbursement, while mental health services have higher reimbursement and are often delivered in a shorter time frame.

Starting a telemedicine business is a good idea because it allows healthcare providers to reduce costs, increase accessibility, and improve patient outcomes. The Covid-19 pandemic has accelerated the adoption of telemedicine, which has highlighted the need for remote health services. Data from the American Telemedicine Association indicates that 85% of patients who have used telemedicine are satisfied with the quality of care they received.

The telemedicine market is growing rapidly and is expected to continue growing as more people seek affordable and accessible healthcare services. The adoption of telemedicine is expected to remain high even after the 19th due to its convenience and cost-effectiveness. As a result, telemedicine startups have the potential to capture a significant portion of the healthcare market.

Customers’ willingness to pay varies depending on the type of telemedicine service. For example, primary care services are generally reimbursed at a lower rate than specialist services. According to a survey conducted by the American Medical Association, the average telemedicine visit costs about . On the other hand, certain services such as remote patient monitoring and chronic care management can be reimbursed up to ,000 per patient per year.

  • Total addressable market size (TAM): 5.6 billion by 2026
  • Specifics of the market addressed: various specialties with different characteristics that affect revenue, sales cycle and reimbursement
  • Why it’s a good idea: Strong demand for affordable and accessible healthcare services with the potential to reduce costs, increase accessibility and improve patient outcomes
  • Market Growth: Projected growth of 15.1% CAGR during 2021-2026, accelerated adoption due to Covid-19 and the convenience and profitability of telemedicine
  • Client’s willingness to pay: Varies by type of telemedicine service, ranging from for a primary care visit up to ,000 per patient per year for remote patient monitoring and chronic care management
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business model

Our telemedicine business operates as an online platform connecting patients with licensed healthcare providers for virtual consultations. Our business strategy focuses on providing convenient and affordable healthcare services while maintaining high quality standards.

  • Revenue streams: We generate revenue through fees charged to patients for consultations with healthcare providers. Our price varies depending on the specialty of the supplier and the complexity of the consultation. We also offer subscription plans for recurring consultations and medication delivery services.
  • Total revenue: We expect to generate million in total revenue in the first year of operation and anticipate growth of up to 20% per year.
  • Products: Our main products are virtual consultations between patients and licensed health care providers. We also offer additional services such as drug delivery and online prescription renewals.

Our business model prioritizes efficient operations and profitable strategies to achieve sustainable profitability. We leverage the latest technological advancements to optimize our platform infrastructure and deliver high-quality services that meet regulatory standards. Our business operations prioritize scalability and ease of use for our patients and healthcare providers, which were key factors in our early success.

Competition

In the telemedicine industry, several providers offer various services. Our main competitors are:

  • Zocdoc: They offer a platform to schedule doctor appointments and provide medical information. Zocdoc has a significant advantage over us in terms of patient reach and provider integration. However, they do not provide full telemedicine services, including virtual consultations, remote monitoring, and prescription delivery.
  • Teladoc: They provide a wide range of telemedicine services that include virtual consultations, remote monitoring, and prescription delivery to their clients. Teladoc has a massive customer base which means they have an edge in terms of patient reach. They offer similar services to ours, but we believe our personalized approach sets us apart.
  • Mdlive: They provide comprehensive telemedicine services which include virtual consultations, remote monitoring and prescription delivery. MDLive has a significant advantage in terms of industry experience and reputation. However, they do not offer personalized attention to their customers, which we believe is our biggest advantage.

We stand out from our competitors because we provide bespoke telemedicine services that are personalized to the unique needs of our clients. We pride ourselves on effectively managing the health of our patients by providing a personalized approach to each case, which allows us to address each patient’s individual concerns.

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Our USPs include:

  • Personalized telemedicine services that meet the unique needs of our clients
  • Effective patient health management through tailored treatment plans and monitoring
  • Highly qualified medical professionals and advanced medical technology
  • Quick response time and accessibility to customers in high-stress situations such as emergencies, travel-related illnesses, and chronic disease management

We believe our greatest threat comes from new market entrants who might do what we do. However, we are confident in our ability to stay ahead of the curve by constantly innovating and improving our services to meet the changing needs of our customers.

Overall, we believe that we are well positioned in the market with the advantage of personalized services, highly trained professionals and advanced medical technologies, which sets us apart from our competitors.

Founding team

The primary goal of our founding team is to instill confidence in our investors that we have the skills and experience necessary to make our telemedicine business a success. Each team member brings a unique set of talents and previous experiences that are essential to meeting the challenges we will face as a business.

John Smith, Co-Founder and CEO

John has over 10 years of experience in the healthcare industry, with a focus on technology and innovation. He holds a degree in healthcare administration and previously founded a successful telehealth company which was acquired by a bigger player in the industry. John’s expertise in healthcare technology and his track record of building companies from the ground up make him a great fit for our team.

Jennifer Lee, co-founder and CTO

Jennifer is a software engineer who wanted to revolutionize the healthcare industry. She has over 8 years of experience in web and mobile application development and a proven track record of building successful software products. Jennifer’s ability to leverage technology to solve complex health issues makes her invaluable to our team.

Mark Baker, co-founder and COO

Mark has over 15 years of experience in business operations and supply chain management. He holds an MBA from a leading business school and has previously held leadership positions in several large healthcare companies. Mark’s exceptional business and supply chain expertise makes him an asset to ensuring our business runs smoothly.

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Dr. Amanda Johnson, Medical Director

Dr. Johnson is a board-certified internal medicine physician with over 20 years of experience practicing medicine. She has significant clinical knowledge, a strong passion for patient care and a deep understanding of the telemedicine industry. Dr. Johnson’s medical expertise provides our team with critical knowledge and insight into the development of telemedicine products to meet the needs of patients and physicians.

Objective and skills

Our goal is to provide access to high quality and affordable telemedicine services to people around the world. Our team is comprised of industry experts with proven track records of successfully building business and technology technology to revolutionize healthcare. By combining our skills in healthcare technology, business operations and medical expertise, we are confident in our ability to develop telemedicine products and services that will have a significant impact in the healthcare industry.

Conclusion

We believe our founding team is well equipped to meet the challenges and opportunities of the telemedicine industry. Our diverse skillset, passion for healthcare innovation and proven track record make us the right team for the job. We are excited to take our telemedicine business to the next level with the support of our investors.

Traction

Our telemedicine business has achieved significant traction in a short time. We have steadily increased our user base and engagement metrics, indicating the effectiveness and usefulness of our platform. Our main measures of success are:

  • High User Growth: Our user base has tripled in the past six months, and we have over 10,000 registered users on our platform.
  • User Engagement: The average session length on our platform is over 20 minutes, demonstrating that our users find our services valuable and engaging.
  • Rising revenue: Our revenue has increased over 150% since we launched our platform, indicating that our pricing and business model is efficient.
  • Customer Satisfaction: Our users have given us a satisfaction rating of over 4.5 out of 5, indicating that we meet their needs and expectations.
  • Partnerships: We have partnered with several major healthcare providers, including hospitals and clinics, and integrated our platform with their systems.
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Our measurements demonstrate that we are making progress towards our goal of revolutionizing telemedicine and meeting the needs of our users. We believe our pull validates our underlying assumptions, and we are getting closer to a product market adjustment. Additionally, we are confident that we are uniquely positioned to capitalize on the massive growth of the telemedicine market, which is expected to reach 0 billion by 2025. Our focus on metrics and execution has enabled us to develop a solid foundation for continued growth and the future and future success.

Fund raising

For our telemedicine business, we are seeking million in seed funding to complete our product development and release a beta version. This investment opportunity aims to revolutionize the healthcare industry by bringing medical expertise to patients in remote or underserved areas of the world through a digital platform.

The funds will be used primarily for product development, marketing and new hires. Specifically, 50% of funds will be allocated to product development, which includes hiring additional software developers, UX designers, and healthcare professionals to improve the functionality and user experience of our telemedicine platform. The remaining 50% of the funds will be used for marketing expenses including advertising, public relations and digital marketing, and new hires to fuel the growth of our business.

With this investment, we aim to achieve several milestones, including:

  • Finalize the development of our platform and release a beta version of the product
  • Attract additional healthcare professionals to the platform to expand its reach and medical capabilities
  • Launched a comprehensive marketing campaign to build brand awareness and attract new users to the platform
  • Establish key partnerships with healthcare institutions and hospitals to expand the reach and accessibility of the platform
  • Generate significant revenue within two years of launch and grow the company’s user base and profit year over year

We are confident in the potential of our telemedicine platform and the expertise of our founding team in medical technology and business management. With the right funding, we believe our platform can change the face of the medical industry by making quality healthcare accessible to everyone, regardless of location or socioeconomic status.