UmbrellaMD Deck

UmbrellaMD is a direct to consumer, transparent marketplace catering to patients with deductibles/HSAs/FSAs looking for same day doctor appointments. Our technology brings cost transparency into the world of healthcare. We provide fast and convenient doctor appointments with specialists by utilizing Geo-located searches on our platform. Transparency, Savings and Convenience

Transcript

1. May 2017 RIGHT DOC. RIGHT PRICE. RIGHT NOW!
2. Executive summary ! •  There are ~1B office visits each year & 920K active clinician! - $486B spent/year on out of pocket healthcare expenses! •  Few are satisfied with the current process ! •  UmbrellaMD is the breakthrough interface linking patient & clinician! - at the right time, place & cost ! ! •  Also solving core clinician’s challenges:! - Immediate payment ! - Guaranteed payment ! - No insurance hassle! ! •  1st gen has been developed and tested in the market; ready for national rollout! •  Seeking investment partner to capture market ! 1
3. www.futurebusiness.com Your topic of Business presentation Macro trends driving the opportunity ! ! •  43% of insured forgo/delay care due to costs! ! •  Only 8.9% of patients hit a $2,000 deductible ! •  Average deductible across PPO plans is $1,478! •  84% of company healthcare plans offer deductibles ! •  Patients struggle with narrow networks! •  HDHP’s comprise 33% of employer sponsored plans ! ! •  It takes 30 patients/day to cover clinician’s overhead ! ! ! ! ! “I’ll have someone come in and prep you for the bill.” ! 2
4. www.futurebusiness.com Your topic of Business presentation Macro trends affecting Patients/Clinicians ! 03 • Rising out-of-pocket costs ! • Complicated/confusing plans ! • Narrow networks ! • No price transparency ! • Nobody understands options! • Hard to get an appointment! ! • Swamped by paperwork ! • Long reimbursement delays! • Convoluted code system! • Many forms to file & report ! • Heavy admin & follow-up! ! ! 3 Current system is a hassle for clinicians and patients !
5. www.futurebusiness.com Your topic of Business presentation Demo! How it works - patient ! •  Search interface via specialty! •  Geo-located search displays relevant docs! •  Select clinicians based on transparent pricing, location & services included! •  Submit appointment request ! •  Nominal $5 transaction fee per appointment! •  Interface similar to a ride sharing app ! Simplifying healthcare ! •  Clinicians indicate their availability & rates! •  Patients choose doc, book appt & pay via site! •  Fee remitted to doctor immediately ! •  UmbrellaMD charges clinicians $50 per month ! •  No admin overhead associated with claims! •  Clinicians can focus on what they love… ! practicing medicine! How it works - clinician! 4 www.UmbrellaMD.com!
6. 05 ! Clinician & patients have challenges ! Clinicians need help w/cash flow & running business! 5 Source: MGMA Healthcare Consulting, American Association of Family Practices !
7. www.futurebusiness.com Your topic of Business presentation UmbrellaMD Team! 01 Andrew Jaeger – Co-Founder/COO •  10+ yrs operating Medical Practices ! •  Exec Medical Billing Company ! •  UMDNJ, St. Barnabus Med, ! •  Hoboken University Medical ! Peter Reiss – Co-Founder/CEO •  Structured Finance: Arbor Realty Trust! •  Finance and Financial Services! •  Bridge Loans, Debt, Pref. Equity and REIT ! •  MBA University of Warsaw ! Greg Reiss – Co-Founder/CFO •  Hedge Fund Portfolio Manager- Millennium Partner ! •  $32B NYC-Based Hedge Fund ! •  UmbrellaMD Angel Investor! MEDOVATION- Principals ! Dr. Jay Rosan- ! •  35 yrs in healthcare leadership roles in all types of healthcare companies (Fmr Medical director US Healthcare)! •  Family physician/founder of 7 physician practice! •  Fmr Sr. VP of Health Innovation Walgreens (WAG)! Dixon Thayer- •  35+ yrs in transformational leadership roles for large & small orgs. in US, Europe, Latin America & Asia ! •  Fmr CEO I-trax Health Solutions; (DMX;AMEX)! •  Fmr CEO Ford Global New Business Operations! Larry Blumenthal – CMO ! •  20+ years in Digital Communications/Marketing ! •  Advised Healthcare Groups Ranging from Johns Hopkins to UMaryland School of Medicine ! •  Headed Digital Strategy for Robert Wood Johnson Foundation !
8. www.futurebusiness.com Your topic of Business presentation ! Proof of Concept – Trends are driving a need ! 40.0% 50.0% 60.0% 70.0% 80.0% 90.0% 100.0% 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 $300 $500 $700 $900 $1,100 $1,300 $1,500 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 84%= Offer employer plans with high deductible ! $1,478= Avg. annual deductible per employee! 7
9. www.futurebusiness.com Your topic of Business presentation Why it works: patient! 8 Current system is a hassle for patients ! •  Savings: Take advantage of the prompt pay discount! ! •  Hassle free: No worries over ! co-pays, referrals or surprise ! bills months later! •  On-Demand: Find a clinician to ! see you now! ! •  Quality: Locate top-rated docs! •  Choice: Not limited to networks! •  Transparency: Patients know ! what they are paying/receiving ! Insured UmbrellaMD!
10. www.futurebusiness.com Your topic of Business presentation 06 Why it works: clinician! 9 Current system is a hassle for clinicians! •  Speed: Clinicians get paid at time of appt.! ! •  Predictable: Clinicians know what they will be paid! ! •  Savings: Eliminates insurance overhead! •  Efficiency: Reduces no-shows & fills empty slots! •  Build Business: Bring new patients to practice! •  Guaranteed payment: Eliminates clinicians AR!
11. www.futurebusiness.com Your topic of Business presentation Proof of Concept (Doc): “The Manhattan Project”! •  UmbrellaMD has met face-to-face with 148 clinicians practicing in NYC & has contracted 145 ! •  Only 3 clinicians weren't interested at the time ! Our concise pitch consists of these following points:! •  Shift in health insurance is converting patients into consumers! •  Difficulty of searching & finding an available clinician promptly! •  Benefit of a transparent marketplace for patients who are overwhelmingly unlikely to hit their deductible. (Last year only 9% of patients hit a $2,000 deductible)! •  Clinician is paid when appointment is confirmed! •  No overhead! •  No denial of claims or adjusted reimbursement from insurance! •  Removal of costly & time consuming billing process! •  Incremental revenue ! *150 practices is ~570,000 office visits per yr.! 10
12. Competition! 11
13. 09 Beta phase: go-to-market ! ! Stage 1 Concept Dev! $500k! DONE! 1st gen Build Out! • Angel Funded! • 3 FT Founders! • Designed Model! • Built Platform! Bus Process Dev! • Set & make Appts! • Complete forms! • Q/A & Upload! • Partner meetings! NYC Mkt Test! • Interviewed Docs! • Mktg Materials! • Sign up forms! • Appts & Sign-ups! 12
14. 09 Target beta market - Philadelphia ! ! 1.  Assessed the best place to launch “official” efforts = Philadelphia:! ! ! ! ! 2.  Presence of strong potential partnerships! ! 3. Steps:! ! I.  Sign partnership– help them to help their doctor members be more successful! II.  Market the partnership with Direct Mail, e-mail and phone ! III.  Have Prof. Svc. Coordinators set apps with each clinician! IV.  Make face-to-face visits and sign them up! ! 13 PA*- 843,182! *On a per capita basis, PA has one of the largest! number of HDHP/HSA Members in the US! *!
15. 09 Next phase: go-to-market ! ! Stage 3 National! ! Stage 2 Go to Mkt! ! MVP Build Out! • Angel Funded! • 3 FT Founders! • Designed Model! • Built Platform! Bus Process Dev! • Set & make Appts! • Complete forms! • Q/A & Upload! • Partner meetings! NYC Mkt Test! • Interviewed Docs! • Mktg Materials! • Sign up forms! • Appts & Sign-ups! Grow Patient Use! • Local HR depts! • Local TPAs ! • Build API ! • Create White Label! Mkt Critical Mass! • 1st Patient Mktg! • SEO, SM , Doc Ofc! • Local Media/Print! • PR ! Major Partners! • Outreach to docs! • Set appointments! • Meet/Sign Docs! First Market ! • Philadelphia! • Hire 3 PSCs! • Implement training! • Site Enhancement ! Add More Cities! • Widen from Philly! • Balt, DC, NY/NJ! • Hire more PSCs! • Management ! Add Features! • Scheduling ! • Billing Simplify! • Other features! •  Site Enhancement! Partnerships! • Yelp! • AthenaHealth! • WebMD! • Medical Assoc! Provider Reach! • Start to seek Natl! • Hold Meetings! • Plan Outreach! • Augment Dr Mktg! 14
16. Summary! Ø  Easy for patients to see clinicians w/ transparency & savings! ! Ø  Bring more money to clinicians, now! ! Ø  Proven team to achieve this goal! Ø  Huge market opportunity! 15
17. www.futurebusiness.com Your topic of Business presentation Thank you!!
18. APPENDIX
19. $2-5 Billion $250-500 Million Potential appointment fees Clinician subscription fees Patients want convenience Clinicians want new patients 11 Potential market & revenue ! ! I. Patients pay $5 per appointment II. Clinicians pay $50 monthly subscription fee
20. www.futurebusiness.com Your topic of Business presentation ! ! Event based revenue (Clinician)! 07 0! 2000! 4000! 6000! 8000! 10000! 12000! Clinicians! •! Clinician ! Count! Capital Required ! $16M! ! $14M! ! ! $10M! ! $8M! ! $2M! •! •! •! •! •! •! •!
21. 05 ! Proof of Market – How we will do it ! ! ! ! ! ! ! ! ! ! ! ! Leverage existing relationships to develop! business partners that offer HDHPs to drive! traffic ! ! ! ! ! UmbrellaMD: Interface to drive ! Patients via Full Price Transparency ! -Health Savings Accounts! ! -Large Employer HR Depts.! ! -Third Party Administrators !
22. Four powerful forces at play! 15 ! CLINICIANS PATIENTS GOVERNMENT INSURANCE •  High overheard! •  Unsustainable business economics! •  Limited resources! •  Clinician burnout! •  Adopting HDHP! •  Embracing HSAs ! •  Uninsured w/ immediate needs! •  Narrow networks limit choice! •  Re-visiting ACA! •  Pushing free-market approach! •  Converting Patients into consumers ! •  Driving growth of HSAs! •  Raising premiums! •  Raising deductibles! •  Limited transparency! •  Declining reimbursement! •  Shifting cost to patients!
23. Target patient audience! 08 HSA/HDHP Holders in 2015! Phase I: New York & Philadelphia! Top HDHP/HSA States ! TX - 1,533,416! IL - 1,280,655! PA*- 843,182! NY- 615,566! *On a per capita basis, PA has the Highest number of HDHP/HSA Members in the US! 44% of HDHP/HSA holder < 40yrs old! Millennials now number 75M -the largest living generation in the United States!! As of January 2015 19.7 million Americans had HDHP/HSA. ! 2014 & 2015 each showed a 22% increase in enrollment in these plans!!
24. 09 Key Categories: Primary Care - Cosmetic – Imaging ! ! *Source: CDC/NCHS, National Ambulatory Medical Care Survey! Target Clinician Audience!
25. UmbrellaMD technology- Infinitely expandable! UmbrellaMD is hosted on AWS servers! •  40GB app disk size! •  10GB database disk size! •  2GB RAM! •  3TB bandwidth ! •  Data base configuration! •  Elastic email for sending to patients & doctors! •  HIPAA compliant! ! ! ! Payment processed by Stripe! ! •  PCI service provider level 1! •  Merchant category code to accept HSA/FSA! •  HIPAA compliant! ! !