The problem we solve: A lot of people would like to have a permanent connection to their doctor or provider. They need to upload their vitals, get feedback, and more. Smartphones are a great tool for those who are familiar with them, but they are difficult for the elderly and less experienced users. A Home Health Hub option is desired - but there are no affordable ones on the market, existing options cost $150 or more. It also has to be universal - a patient can go to Walgreens, buy a connected product they like (i.e. any scale), and it shall just work. Alternatively, a provider or telehealth company shall be able to assemble the kit they like while keeping the cost under control.
About our solution: We suggest to create an inexpensive ($20 for small orders) Home Health Hub compatible with any existing medical device or wearable. We already have more than 300 compatible devices to our smartphone platform, and it is easy enough to extend it to hub.Progress to date:
We have a full software platform - MedM Platform - to work on the hub. We have medical device integrations, remote management, provisioning, reference cloud platform, and more. We just need to design and produce the actual box.
Creator: Michael Pliskin
Bio: Engineer, Leader, Customer Advocate, Partnership Master, Startup and Corporate Veteran. Passionate about change, technologies, and changing the world. Previous experience includes startups (Comapping.com) as well as all steps as career software engineer from an intern to Technical Director.
Advanced Degree(s): MS
The product (with the appropriate service plan from MedM or others) can be sold in retail for an affordable price, and thus millions of patients can be monitored and eligible for timely healthcare advice.
Providers can now launch cost-effective remote patient monitoring projects. No longer they need to lock themselves in into 3-year contracts - everything is available with a disposable-like pricing, full service, instant roll-out, and pay-as-you-go model
Hospitals can now benefit from a variety of cost-effective remote patient monitoring services on favorable terms.
Partners can use the hub both as a full product or as a hardware platform in their own projects, or just re-sell the device. The market is crying to get this done.
According to Grand View Research market analysis, US Telehealth Market Size is more than $2B in 2018, and will be close to $3B in by 2022. A lot of patients are underserved, a lot of services are being launched, and we want our hub to power all of them.
Projected 3 Year Growth
We want to be selling 1M of our hubs per year and have 10M+ patients on our platform. This allows us to capture a decent market share and keep growing by improving the product and keep innovating.
How We Will Make Money
There are two ways to get money:
1. Sell hub as a unit to go along with our MedM Cloud RPM service and make money on service.
2. Sell hubs as unit and get a margin.
About our Competition
There are the following competitors:
- Qualcomm Life with their 2net platform
- Philips Home Telehealth
Our bet is on availability, cost structure, and flexibility.
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