by Sam Jazzo
Currently, we have developed a prototype platform. Using this prototype platform we have been able to run pilots programs with a small group of clinicians. During these pilot programs we validated that clincians using our system will be reimbursed by both public and commercial insurance.
Additionally, we have reached out to dozens of rehabilitation clinicians to get their feedback on our system. We have received overwhelming demand for our system from these clincians. The demand has been equal across all of our market segments.
Now we are looking for a small investment (>$30,000) so we can build our cloud infrastructure, so that our system will seemlessly scale. Then we can begin our sales efforts outside of our pilot locations.
Our system engages patients by providing them goals and benchmarks to aim for while they are going through their injury rehabilitation. This makes them more motivated to be compliant with their home treatment plan, leading to better overall outcomes and less readmission to rehabilitation.
Clinicians performing rehabilitation are currently under a great deal of scrutiny from insurance carriers to provide objective measures to validate their treatment plans. With this tool clinicians will get the data they need to negotiate from a point of strength with insurers.
We intend to roll out our system in the mid-atlantic region, where there are 47,000 clinicians. In three years, we intend to have 20% penetration in this mid-atlantic market. This will produce over $33 million in revenue by 2020. This will allow us to leverage a deal with regional insurers to require the use of our product, thus allowing us to grow exponentially.
Our planned revenue generation strategy is to charge a tiered monthly subscription. Each tier costs the clinicians approximately 10% of the total reimbursement they recieve for using our system.
We are not the first company trying to tackle this problem, but our competitors have limited themselves by only focusing on certain sub-sections of injury rehabilitation. We have built our platform to address the entire spectrum of injury rehabilitaton. Additionally, our competitors are trying to have their technology replace rehabilitation clinicians, but we have designed our system to empower clinicians not replace them.
Our team has met with dozens of our potential customers and have received overwhelming demand. Our customers are enticed by the fact that our product has been shown to receive reimbursement from both public and commercial insurance. The only barrier we are facing to adoption is that our system does not scale outside of our pilot locations. Once we have a scalable platform we will acquire multiple customers immediately.
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