drprime.com: health care. personalized
DESCRIPTION
Introduction and busiTRANSCRIPT
YOUR LOGO
Healthcare. Personalized.Introduction and Business Plan.
Table of Contents
Page 2
Executive summary
Business description and vision
Definition of the market
Decription of the products and services
Organization and management
1
2
3
4
5Marketing and sales strategy
Balance sheet
Appendices
6
7
8
Executive Summary
Page 3
Harken Health Services, LLC. under the aegis of its website, DrPrime.com, will provide a unique listing of health and wellness concierge services. Our management tool and marketing department will satisfy both the needs of doctors and patients when it comes to the administration of healthcare services.
The public wants
•the ability to receive same day treatment, •quality time and care from a physician, and •after-hour access.
Physicians want
1)a steady stream of revenue independent of insurance based medical care, and 2)a limited number of patients.
Executive Summary
Page 4
In short, concierge medicine is the answer to the public’s demand for a more comprehensive and personal health plan and a physician’s need to limit patient numbers while maintaining a healthy revenue stream. It is a mutually beneficial relationship which will be guided and managed using our online system.
This business plan has been prepared for the purpose of obtaining $300,000.00 in start-up capital. This supplemental financing is for the purpose of site preparation and modifications, equipment and to cover expenses in the first year of operations. Harken Health Services is incorporated as an LLC to protect the owner and three outside investors from personal liability and double taxation. Investors will be treated as shareholders and will not be liable for more than their individual, personal investment. This large initial capital investment is for the purpose of quickly advancing our company before more competitors with like ideas can be introduced to the market and to maintain operations in year one.
Business Description and Vision
Page 5
Healthcare Personalized
Harken Health Services believes that in order to revitalize the health care industry we must, first, restore those principles of care that made doctors a revered and respected member of the community. "Health Care Personalized" will be the tagline which explains our core intent and purpose. Insurance based medical practice has broken the bonds of the doctor-patient relationship and has become antithetical to patient care.
Medical coding and billing now constitutes 30% of the primary care practice revenue while the average time spent with patients has decreased dramatically. This has increased the levels of patient and doctor dissatisfaction and accounts for a diaspora of practices that are returning to the methodology of treatment which existed, unshaken, for thousands of years.
Business Description and Vision
Page 6
Concierge Medicine
Over the last five years there has been a steady departure from an insurance-based system to one that is retainer-based, service for a fee, concierge, and/or "boutique". This cottage industry is steadily growing and has already created a vacuum for necessary support industries that can assist with management and marketing, billing, and patient referrals.
Our concept is to provide not only traditional referral services for doctors, but also value-added services for patients such as online Rx refills, priority appointments, Skype or online consultations, wellness plans, and other niche services that cater to clientele that have felt rushed or largely ignored by the mainstream healthcare system.
Our primary goal for Harken Health Services is to create a website, DrPrime.com, that will be an online concierge "desk" that coordinates all activities between doctor, patient, and pharmacy.
Business Description and Vision
Page 7
Unparallelled Experience
We hope to be the premier provider of concierge medical services within the next two to four years. In order to achieve this goal we will rely on our deep domain expertise in medical reform, online patient care information systems, and public health initiatives. To that end we have selected a core management team whose background includes management of public health programs, health information dissemination, continual process improvement/Six Sigma, medical coding, health care reform, and information system management.
Our team has worked for universally-respected institutes such as Johns Hopkins, the Mayo Clinic, and the University of North Carolina Chapel Hill and has domain expertise in the promotion of public health and medical initiatives, project management, and health care privacy. Within our core group we have experts in the field of lean Six Sigma and have been responsible for returning failing practices to a state of revenue. Together our leadership team has been responsible for the steering of programs and projects in excess of 80 million dollars.
Definition of the Market
Page 8
The market that we will be entering consists of four key competitors that will be described below. We are entering at a time of non-saturation and hope to grow the business to a threshold of 6,000 customers within a two year period. As the Health Care Reform Act is rolled out in its totality this will create a huge burden on mainstream insurance-based medical practices and those that ascribe to them currently.
As more patients are able to receive supplemented or entitled health care, the ability of doctors to provide adequate diagnostic and interpersonal relations building that is vital for integrationist medicine diminishes. This new dichotomy will create increased dissatisfaction from those who are already feeling disenfranchised by the current system and they will be more inclined to welcome an approach that enables them to receive same day personalized treatment.
Definition of the Market
Page 9
MDVIP.com
Elitehealth.com
MD2.com
Signaturemd.comSelect.md
One of the oldest networks consisting of more than 500 participating physicians. More than 100,000 active patients reported. Fixed annual fee concept ($1,800) keeping 30% as roaylty payment.
Network that relies mostly on online venues. Allows “hybrid” models that keep current patients in tact.
Upscale network charging $8,000 for a white glove service eliminating the need for insurance coverage. Limited to 150-200 patients per physician.
Smaller networks focusing on local markets
Key market players
Definition of the Market
Page 10
The "Back to the Future" approach will resonate with those dissatisfied Americans who would harken back to the days of family doctors who knew your name and life story; the Norman Rockwell image of the pediatrician bent kindly over the knee of the child. This approach will remove much of the time burden that is currently associated with modern medical practice and enable doctors to limit their number of patients while increasing their revenue stream. It will also supply patients with same-day access to doctors, the ability to interact across multiple venues (skype, phone, house calls, etc), and online pharmacy access. Our potential clients are patients, doctors, pharmacies/pharmacists, wellness experts and coaches in the short and long-term. As we expand we anticipate bringing in personal trainers, fitness experts, and nutritionists that can market their services to an existing customer base.We currently provide these services for a limited number of health care practices, but would attempt to expand this to a national market.
Description of Products and Services
Page 11
Patient Doctor
Vast selection of service levels ranging from pay-per-visit to a full service boutique membership ($1,000-$10,000 annual fee)
Ability to pick existing plan or create a custom individual plan a la carte (“healthcare personalized”)
Financing and payment plans
Extensive portfolio of participating physicians
Online secure patient portal
For regular physicians: ability to compliment practice with a new type of patients and keep the existing patient base
For concierge doctors: add new steady flow of patients by joining a fast-growing network
For physicians who want to convert the practice: our professionals will develop and implement the conversion plan
Management of billing issues
From patient’s and doctor’s standpoint
Organization and Management
Page 12
Takes control of specific geo area including relations with new and old patients, as well as doctors
Monitors and supervises activity of individual agents. Serves as regional HR director
Legal compliance, senior corporate and financial management
Interchangeable with Agent 1. Takes charge of billing issues and practice conversion.
Manages regional supervisors. Long-term strategist. PR director.
Hub Agent 1Hub Agent 1 Hub Agent 2Hub Agent 2 Regional Supervisor
Regional Supervisor
National Supervisor
National Supervisor CEOCEO
Corporate structure at a glance
Organization and Management
Page 13
Hub Agents
To cut the expenses and costs to the minimum and in order to come up with the strong and motivated team the Company will look for enthusiastic individuals with strong background in sales that will be working for the % of the billing (sources new patients, recurring subscriptions, converting doctors' patients, converting doctors' practice settings, corporate wellness fees etc.). These agents will be responsible for their hub, i.e. the city, region or other geo area.
The job will be mostly commission-based, with a nominal salary paid. Instead, all calls from patients, doctors and corporate officers received by the call center from that area will be forwarded to the respective agent. The agent takes charge of everything within his hub therefore maximizing his earning potential. Research shows, 97% of the clients extend the subscription, which makes this earning potential recurring. The Agent is the key figure of the project.
Organization and Management
Page 14
Shaquita Parker, CEO
Tiffany Bibber, CFO, HR Director and Supervisor
Igor Klopov, Marketing Director, Chief Strategist
Executive Management
Uri Soroka, Doctors & Corporate Executuve
Marketing and Sales
Page 15
Most physicians have strong ties in their
professional community
Various business media; Business and professional
conferences distribution.
SEO, Local SEO, PPC management, Directories placement
Targeted advertising in professional networks, i.e. LinkedIn and Xing
Patients
Marketing and Sales
Page 16
Research shows that every patient brings in one
referral, given the current renewal rate of 97%
Professional magazines; Conferences attendance.
Hub agents will be in touch with every doctor is their geo area to promote the business concept
Targeted advertising in professional networks, i.e. LinkedIn and Xing
Doctors
Balance Sheet
Page 17
The following forecast is based on the following stipulations:
A conservative average sale of $2,000 per new patient. The company retains 30% of the amount which equals $600. The agent receives a bonus of 15-20% per every sale leaving the company with an average gross profit of $500
A conservative increase in the amount of sales per month. It has been verified that every agent can handle a maximum of 20 new patients per month. It is hereby assumed that an agent will start producing this result in 8-10 months gradually increasing the volume of sales.
A conservative average sale of $5,000 per doctor practice conversion.
Assumptions
Balance Sheet
Page 18
Revenue Amount
Total 0
Expenses Amount
Company formation $1,000
Bank account / Billing facilities $2,000
Equipment $5,000
Office rent $2,500
Executives salaries $21,000
Web presence $4,000
Software development $5,000
Total $40,500
Month 1 (Development stage)
Balance Sheet
Page 19
Revenue Amount
15 patients $7.500
1 doctor $5,000
Total $12,500
Expenses Amount
Executives salaries $21,000
Hub agents salaries $7,500
Office rent $2,500
Advertising
SEO $3,000
PPC $5,000
Social Media $3,000
Print $1,500
Misc. expenses (call center, IT etc) $2,500
Total $46,000
Month 2 (1st month of operations – 1 Hub, 5 Hub Agents)
Balance Sheet
Page 20
Revenue Amount
25 patients $12,500
1 doctor $5,000
Total $17,500
Expenses Amount
Executives salaries $21,000
Hub agents salaries $9,000
Office rent $2,500
Advertising
SEO $3,500
PPC $5,000
Social Media $4,000
Print $2,000
Misc. expenses (call center, IT etc.) $2,500
Total $49,500
Month 3 (2nd month of operations – 1 Hub, 6 Hub Agents)
Balance Sheet
Page 21
Revenue Amount
40 patients $20,000
1 doctor $5,000
Total $25,000
Expenses Amount
Executives salaries $21,000
Hub agents salaries $10,500
Office rent $2,500
Regional supervisor salary $4,000
Advertising
SEO $5,000
PPC $8,000
Social Media $6,000
Print $3,000
Conference $2,500
Misc. expenses (call center, IT etc.) $2,500
Total $65,000
Month 4 (3rd month of operations – 1 Hub, 7 Hub Agents)
Balance Sheet
Page 22
Revenue Amount
60 patients $30,000
1 doctor $5,000
Total $35,500
Expenses Amount
Executives salaries $21,000
Hub agents salaries $12,000
Office rent $2,500
Regional supervisor salary $4,000
Advertising
SEO $7,000
PPC $13,000
Social Media $6,000
Print $5,000
Misc. expenses (call center, IT etc) $3,500
Total $74,000
Month 5 (4th month of operations – 1 Hub, 8 Hub Agents)
Balance Sheet
Page 23
Revenue Amount
80 patients $40,000
2 doctors $10,000
Total $50,000
Expenses Amount
Executives salaries $21,000
Hub agents salaries $12,000
Office rent $2,500
Regional supervisor salary $4,000
Advertising
SEO $7,000
PPC $13,000
Social Media $6,000
Print $5,000
Misc. expenses (call center, IT etc) $3,500
Total $74,000
Month 6 (5th month of operations – 1 Hub, 8 Hub Agents)
Balance Sheet
Page 24
Revenue Amount
120 patients $60,000
3 doctors $15,000
Total $75,000
Expenses Amount
Executives salaries $21,000
Hub agents salaries $12,000
Office rent $2,500
Regional supervisor salary $4,000
Advertising
SEO $7,000
PPC $13,000
Social Media $6,000
Print $5,000
Misc. expenses (call center, IT etc) $3,500
Total $74,000
Month 7 (6th month of operations – 1 Hub, 9 Hub Agents)
Balance Sheet
Page 25
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65000
74000 74000 74000
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75000
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M1 M2 M3 M4 M5 M6 M7
Expenses Revenue
Breakeven
PointBreakeven
Point
Expenses & Revenue: 6-month timeframe
Appendix A
Page 26
Procter & Gamble acquires MDVIP.com
Start-up ZocDoc announces $50M funding round
Concierge Doctors: Not for super-rich anymore
Concierge Medicine: the doctor will see you now
Can concierge medicine benefit the Many?
Your ticket to a satisfying concierge doctor career
Important links
Appendix B
Page 27
Website screenshot (in development)
Page 28
Contact Tiffany Bibber(804) 301-0527
Do You Have Any Questions?