Yo-Fi Wellness: Leveraging the power of video to improve health.

by Jeff Croy

Yo-Fi shows people how to be healthy, and provides the necessary tools for individuals to maintain health and recover better, stronger and faster. Yo-Fi is with you anywhere, anytime.
Jacksonville, FL United States Healthy Living Patient Education Equity Raise

All Team Company Patients Physicians Hospital Partners Innovation Details Investor Info Due Diligence Docs Supporters Comments Updates

About our project

The problem we solve:
Netflix has increased its viewership by more than 50% for each of the last two years, while the New York Times has lost subscribers by more than 10% each of the last three years. Consumers prefer video, and that is as true in healthcare as it is in any other consumer facing industry. Legacy providers provide information that is text-based, not mobile, and not personal. This leads to poor engagement, retention, and compliance.

About our solution:
Yo-Fi provides hundreds of on-demand health and wellness video classes in a convenient responsive web application that can be used by anyone, any time, and anywhere. Yo-Fi uses video in every aspect of program delivery, thus improving financial and behavioral performance for population sponsors. Yo-Fi is the go-to solution for enterprise wellness, health plan member engagement, health coaching engagement, prescription and compliance, and soon, patient care and recovery. Yo-Fi is a modern consumer solution for healthcare.
Progress to date:

Yo-Fi is a growing company with customers and established distribution. Our largest direct client is ComcastNBCUniversal, and we work with other prominent population healthcare companies such as Workplace Options and Beacon Health Options. Yo-Fi has distribution to all of the Blue Cross Blue Shield plans via an exclusive distribution agreement with GuideWell Connect, Florida Blue's health plan sales affiliate. Yo-Fi's current scope is around 2.5 million lives, and we expect that to grow to around 3 million in 2017.


About Our Team


Creator: Jeff Croy
Location: Florida
Education: Washington University
Bio: Jeff Croy is President & CEO of Yo-Fi Wellness, Inc. Jeff’s experience balancing life and career demands while engaging in rigorous travel for work ignited his interest in population healthcare. In 2013 Jeff was recruited to lead the development of Yo-Fi Wellness, a video-centric wellness solution. Jeff leads Yo-Fi's product development, corporate strategy and distribution.
Title: President
LinkedIn: https://www.linkedin.com/in/jeff-croy-90ab0829

About Our Company

Yo-Fi Wellness, Inc.
Location: 25 N Market St
Suite 205
Jacksonville, Florida 32202
US
Website: http://yofiwellness.com/
Twitter: @yofiwellness
Facebook: https://www.facebook.com/yofiwellness/
Other link: https://www.youtube.com/watch?v=vOVLk5AHnas&feature=youtu.be
Product Stage: In the Market
YTD Sales: Less than $250,000
Employees: 5-10

How We Help Patients

You are on a new journey ... the journey to recovery! Recovery is not always easy, we know, we have been there too!  We know from experience, not just from the studies, that changing a lifestyle a little bit can help healing in a big way. We live the lives our users live. Our fitness professionals and nutritional consultants have worked extensively with people just like you. Our classes and programs are based on science. We know what works, and we encourage you to become their best version of yourself every day.

Yo-Fi Wellness and Yo-Fi Care & Recovery give even the busiest people the support and tools they need to take care of themselves and make lasting changes. Yo-Fi provides a unique combination of video classes, personalized communications, activity trackers, and motivational wellness challenges which leads to healthy long-term behavior that becomes a natural part of your life in recovery, at work and at home. Yo-Fi helps you take those simple steps that build big results over time.

How We Help Physicians

On July 7, 2013 CMS announced the results of the Pioneer ACO demonstration. According to CMS, costs for more than 669,000 beneficiaries served by Pioneer ACOs grew by 0.3 percent in 2012. Costs for others grew by 0.8 percent in the same period. CMS stated that 19 out of 32 pioneer ACOs shared savings with CMS. The Pioneer ACOs earned an estimated $76 million. 2 Pioneer ACOs generated losses totaling an estimated $4 million. According to CMS the savings were due, in part, to reduction in hospital admissions and readmissions.*

Hospital readmission is a major ($50 billion annual, est.) cost factor in healthcare. CMS has instituted the Hospital Readmission Reduction Program (HRRP) which reduces payments for readmissions. Medicare/Medicaid providers have a major incentive to reduce readmissions. ACOs have a major financial incentive to reduce readmissions. Insurance providers have a major financial incentive to reduce readmissions. Self-insured employers have a major financial incentive to reduce readmissions. 

Yo-Fi Health will play an important role in the spectrum of patient care and recovery. Yo-Fi Health will provide shortened recovery time, reduce readmissions, reduce work loss, and provide cost savings and better outcomes. 

Yo-Fi will provide what the patient needs, when they need it. Yo-Fi will evaluate the most appropriate lifestyle and wellness attributes for a post-treatment protocol and delivers that to the patient. Yo-Fi will provide data to sponsors for compliance and treatment continuity.

Recovery consists of key, and necessary physiological and psychological processes. Yo-Fi will provide physiological and psychological process acceleration and process improvement.

Yo-Fi will reduce hospital readmissions for conditions such as COPD, mood disorders, substance disorders (addiction), diabetes, cardiac and co-morbidity conditions.

*Centers for Medicare and Medicaid Services


How We Help Hospitals

An estimated 20% of American hospitals belong to an ACO, and more than half of ACOs include a hospital. Hospitals that are part of the overall ACO framework have the same incentives as providers, and patients - better, cheaper and faster recovery. Yo-Fi Health will become a central feature for hospitals as they seek to reduce readmittances. As part of the discharge protocol, it is envisioned that hospitals will be provisioned with Yo-Fi's content and technology to provide appropriate access to lifestyle improvement content for patients for their early recoveries and behavior cange for the long-term.


How We Help Partners

Yo-Fi is a company built for partnerships. We have engaged in pilots, integrations, and product development relationships with many partners since our inception. Yo-Fi health welcomes the opportunity to collaborate with companies with similar missions of improoving post-treatment care for recovering patients to reduce hospital readmissions. Specific examples include; device companies (Yo-Fi integrates certain devices currently), pharmaceutical companies seeking to add value, payors, and ACO hospitals.

For device companies, Yo-Fi can integrate data into the Yo-Fi platform to provide patients information on progress in real time. Along those same lines, Yo-Fi can provide data back to the provider as well as the partner.

For pharmaceutical companies, Yo-Fi can provide actionable engagement content, which is clinically vetted, as a value addition for an already vital product. This is specifically important in competitive scenarios where brand awareness is critical.

For ACO hospitals, Yo-Fi can become a part of the post-treatment protocol for discharged patients; placing a course of recommended activities and lifestyle changes in the hands of patients when they need it most. Data can be provided back to the sponsoring hospital to gauge compliance and progress.


Innovation Details

Intellectual Property Summary

All of Yo-Fi video productions and other productions are protected by copyright. Yo-Fi source code is protected by copyright. Yo-Fi's mark is protected as a registered trademark. Yo-Fi is negotiating an exclusive technology license with a major university. The technology under this license is protected by copyright.

Clinical Information

Yo-Fi has impressive results from pilots as well as engagement statistics from different use cases. For example, participation rates on the Yo-Fi platform are 2X industry average, and Yo-Fi communications are 50% more effective than industry average. However, Yo-Fi does not currently have studies showing the clinical efficacy of our solution as it has been deployed either as a population healthcare solution where engagement has been measured rather than clinical outcomes, or via partners who use Yo-Fi as part of a solution, such as health coaching. Yo-Fi Care & Recovery is a new division, which will begin case studies in Q2.

Regulatory Status

Yo-Fi currently does not plan to submit for FDA approval.

How we will use the funds raised

Staffing: 65%

Video Production: 13%

Marketing: 13%

Technology: 9%

Thank You

Yo-Fi is disrupting the legacy landscape of healthcare content production and delivery. Yo-Fi adds value throughout the spectrum of personal health, and Yo-Fi addresses the needs of both the consumer of healthcare and the sponsors of the consumers whether they be companies, health plans, or providers. Your investment in Yo-Fi is critical to our corporate development as we establish Yo-Fi as a category leader in healthcare video, programming, communications and data. Yo-Fi is applying for a match of up to $300,000 from an institutional investor for this raise - so your investment will be doubled in magnitude. Thank you for supporting Yo-Fi!

Investor Info

Market Size

The Total Market Opportunity consists of direct sales and sale to other healthcare companies (OEM Sales) = 62,000,000 lives, sales to BlueCross BlueShield plans = 110,000,000 lives, sales to other health plans = 100,000,000 lives, for a total of 272,000,000 potential lives. Applying our current pricing, this equates to $1.3 billion. We believe we can achieve 1% market share conservatively over the next several years. Yo-Fi works closely with channel partners to gain scale quickly. Our largest channel partner is GuideWell Connect for access to the BlueCross BlueShield marketplace. Yo-Fi is creating a new subsidiary called Yo-Fi Health, which will address the $50 billion annual problem of hospital readmission. Buyers will include ACOs, payers and providers.

Projected 3 Year Growth

In three years we intend to approach $10 million in sales, excluding Yo-Fi Health. Gross margins will be approximately 65%. 

Revenue Model

Yo-Fi's business model is straight forward. We have 3 - 5 year contracts which provide predictable cash flow. Contract terms generally consist of:

  • Set-up Fee
  • Subscriotion Fee (per member per month)

Competitors

Population healthcare is a competitive and fragmented market with no clear leadership. Yo-Fi competes in the high-tech sector of this industry. While competition is everywhere, each competitor is unique and vying for the attention and budget of the buyers. No other company specializes in video as the primary content form factor, which allows Yo-Fi to stand out. Because of this position, we work with a number of our competitors who can use Yo-Fi's content and curated platform to add value to their own program deliverables. In addition to form factor, Yo-Fi had a number of competitive advantages including:

  1. Prorietary content
  2. Proprietary curation
  3. Established channel distribution
  4. Price point

Prominent competitors in our marketplace include:

  • ShareCare
  • Keas
  • Humana go365
  • SelfHelp Works

 

Traction

Yo-Fi has achieved impressive early traction both in terms of customers and distribution. Much of our distribution was established in 2016, and is beginning to yield sales in 2017. We expect revenue growth of over 6X over the next 12 months as a result of building our channel partnerships. Below is a snapshot of customers and distribution.

Due Diligence Docs

Please note that access to the company's confidential materials is limited. Click this button to request access from the Company and its representatives.


Supporters

Comments

  • image
    Jeffrey Vaughn posted on 5th January, 2017

    As a seasoned healthcare technologist and healthcare private equity professional, I can see this platform impacting care and recovery in a significant way. Cost savings is clearly in focus here and there is no doubt that is one key area of focus which will shape healthcare as we know it. Looking forward to seeing how Yo-Fi impacts the marketplace.

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Jeff Croy
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Washington University

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