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Online Medical Second Opinion: Online Medical Second Opinion: Affordable & High Quality

by Walid Fadl

Medical errors cause a lot of damage. It’s much worse in poor countries. We fight it by providing medical second opinion from the best doctors through video consultation
Singapore, Singapore Connected Health Equity Raise

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

About our project

The problem we solve: We have an epidemic!! It’s always here. It costs money and even lives. It’s called: MEDICAL ERRORS ::: MISDIAGNOSIS & WRONG TREATMENT There are many studies about how bad it is in the US. What do you think is happening in the poor countries in Africa, Middle East and Asia? It’s a lot worse!! People undergo unnecessary or wrong surgeries. They use expensive and harmful medications. They lose the ability to work. They lose a lot of money. They may even lose their lives. It's a global continuous epidemic.

About our solution: Our solution is to provide medical second opinion to patients in those countries. The physicians we select are the best of the best in the region. We call them “The Experts”. Patients meet The Experts using video conferencing. No need to travel. All patient data can be safely shared with The Expert. The patient will have video consultation with two Experts. Both Experts will discuss the case, and provide their final feedback to the patient. Patients will pay affordable fees for the consultation. we also have a charity part that will help those who cannot pay. Result: The patient will receive a detailed answer to 4 critical questions: ? How good is the current diagnosis? Is there a better diagnosis? ? Are there additional tests that can improve the accuracy of the diagnosis? ? How good is the proposed treatment? ? Is there a better alternative treatment? Expected outcomes: Better diagnosis Better treatment Lower healthcare cost Faster recovery Improved overall healthcare quality

Progress to date:

o Build the online portal for patients and physicians === Done

o Build a network of Experts in Africa ============ Critical specializations covered

o Market testing and evaluation ================= Done

See what we’ve done

Check our portal: www.consulto2.com

See our specialists: https://consulto2.com/Experts.php

See our FB page:  https://www.facebook.com/Consulto2medicalsecondopinion/

Specializations covered so far:

Neurosurgery, Cardiac surgery, Oncology, Urology, Orthopedics, Addiction rehab and plastic surgery

About Our Team

Creator: Walid Fadl

Location: Canillo

Education: MSc, Paderborn Uni, Germany

Bio: I'm a biomedical engineer from Egypt. I've finished my masters in Electronic Engineering and Management in Germany, then I've joined Siemens Healthcare as a SW developer. Afterwards, I've moved through different departments in the company from R&D, Project management, Product management, sales and regional business management. My last help position was VP of Middle East, Africa and Turkey at Elekta AB. In 2018, I've moved to Singapore and established my own company BKS. We specialize in healthcare IT. We develop innovative solutions that help healthcare providers deliver their services remotely and efficiently. We also help patients take control of their clinical data. We've developed THAT (TeleHealth Adaptive Technology) solutions, Consulto2 : Medical second opinion portal and other products. More is coming.

Title: CEO

Advanced Degree(s): MSc Electronic Engineering and management

About Our Company

BKS Consultancy and Trading PTe Ltd

Location: 81 UBI Avenue 4. UB ONE
10-08
Singapore, 02 408830
SG

Founded: 2017

Website: https://www.consulto2.com

Facebook: https://www.facebook.com/Consulto2medicalsecondopinion/

Other link: https://www.telehealthat.com

Other link: https://www.facebook.com/TeleHealthAT/

Product Stage: In the Market

Employees: 3-5

How We Help Patients

"20% of patients with serious conditions are first misdiagnosed"

Most Americans will get a wrong or late diagnosis at least once in their lives

Misdiagnosis and wrong treatment are an epidemic in the US. Despite all the advanced expensive equipment and highly qualified physicians. This happens every day!

Just try to imagine how it looks like in the poor less developed countries. I can tell you , it's much worse. Patients suffer from intentional and unintentional medical errors every day.

We're trying to reduce this damage by providing medical second opinion consultations online through video from the best possible experts in each country.

Patients will have access to the best doctors from the comfort of their homes for an affordable price.

We believe that this is the best solution that we can offer for this epidemic.

Please help us save as many patients as possible.

How We Help Physicians

Please join our network of experts!!

We need as many great doctors as possible to provide the medical second opinion at the highest quality.

The rates, which our patients can afford to pay will not exceed $50. So, financially it may not be very rewarding for you. However, you'll be really helping desparate patients, who really need your expertise. 

Innovation Details

Intellectual Property Summary

The solution is not new. There are already similar ideas in different countries. There's no IP to defend.

Clinical Information

There are several studies over the years that prove the efficiency of second opinion in fighting medical errors. Our solution is just a convenient and an economic way to deliver teleconsultation to the ones who need it most.

Regulatory Status

N.A.

How we will use the funds raised

Improve the online portal === 25%

Expand Experts network to cover more countries === 10%

Digital Marketing raise awareness about the service === 60%

Provide free consultations to those who cannot afford it === 5%

We'll first focus on Africa, then expand to Asia and LATAM

Thank You

Imagine this:

The main bread earner of a family falls sick. He cannot work. He's misdiagnosed. The medication worsens his condition. The recovery takes longer time. His only option for help is the non-specialized and inexperienced doctor in the government hospital in his town. He cannot go to a doctor in the big capital city. Those doctors are super expensive and the journey itself will cost him a lot of money. Even if he can afford it, he doesn't know which one to go to. What should he do?

This is the kind of situations where our solution can help. We bring the top experts in the country to the doorsteps of all patients at affordable rates.

This way, wrong diagnosis can be corrected early.

Wrong medication can be replaced.

Wrong surgeries can be avoided.

Tonnes of unnecessary pain, cost and losses will be spared. 

That's our main idea. That's our mission.

Please help us achieve it.

Investor Info

Market Size

We've made a campaing to test the market in Africa within March, 20. The test sample was the small cities in Egypt. The total population of those cities is about 60M. We managed to reach 800k people. Very high active engagement: Facebook: 5%, Youtube video: 39%. We have 17k FB followers. We did 2 paid consultations.

All this within one month and for $2500 only!!

The total popultation in the target markets in Africa and Asia is 2.5B. Based on the market study that we did, we expect at least 3M subscribers in the first 3 years. Out of those subscribers and their network we expect 1M consultations within 3 years. This will yield a revenue of $70M.

Projected 3 Year Growth

Our coverage in year 1 will start with Africa and the Middle East (520 M population). Then we'll expand into South Asia and APAC regions ( 2B population). Then to Eastern Europe, Russia (300M population) and then latin and central America ( 490M population). The total coverage we target by the end of year 3 is 3.3B. Out of them we will have 3.5M subscribers and an average of 350k consultations per year.

The Experts network will expand with the coverage of the population which we cover. To meet the demand of 350k consultations per year, we will need around 1500 Experts. This will be the largest online hospital with the largest network of experienced doctors and patients in the world.

Revenue Model

Commission on consultation fees = ~$5 per consultation =========== $1.7M per year

Commission on medical procedures conducted by the experts to the patients, who we refer to them = 10% per procedure =========== $150k per year

Advertisement ==== $50k per year

We can also benefot from other products built by BKS to generate revenue on Consulto2. For example the E-Commerce part of BKS business.

Competitors

There are several online consultation platforms. Some are free and some are paid. However, they mostly feature GPs and less experienced doctors. There are only a handful of portals which only focus on medical second opinion. However, they're very costly and suit the advanced expensive countries. Not the countries, which we target.

Traction

Number of experts : 16

Registered patients : 10

FB followers: 17k

Cases analyzed offline without video consultation with expert: 161

Conducted video consultations : 2

This is achieved with an advertisement campaing which lasted for ONE month and costed only $2000. It was done by only one person working 20% of his time on the campaign. With a better team and a better budget, we can surely achieve much more than that in a very short period of time.

Due Diligence Docs

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  • 11 Days left

$ 300,000 goal


Walid Fadl
CEO
MSc, Paderborn Uni, Germany

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