CareClinic Software Inc

Digital Health Management Raising $2M Organically and $5M for Acquisitions

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Overview
A digital care management and prevention company that simplifies preventative and proactive care management for patients and caregivers. Platform enables patients to track, monitor and analyze the entire treatment outside the clinical setting to improve health outcomes. Platform provides for healthy habit change and accountability for patients. Founded in 2019 in Toronto, has grown organically to 70,000+ users in 20+ countries, and raised $250,000 USD. Reached B2C break-even in Q1 2021.
 
Market Need
- Ageing population and changes in behavior leading to increased long-term health problems where patients must manage chronic conditions on their own at home.
 - 57% (157m people) of the US population has 1 chronic condition. US Healthcare costs were $3.6 trillion in 2019, chronic conditions accounting for 80%. 44% (17m people) of Canadians  have at least 1 chronic condition. 13% have multiple.
- The Centers for Medicare & Medicaid Services (CMS) have transitioned from fee for service to value-based payments. Healthcare providers are now compensated based on patient outcomes, with financial penalties for preventable patient admissions.
 
Solutions
B2C - Patient App is a modular cross-platform App with smart reminders, health trackers, and modules. Enables telehealth video conferencing, secure messaging, appointment scheduling and also collects data from wearables, voice and sensors. In-App Store allows providers to share care plans for conditions and goals remotely.
 
B2B - Web Platform provides Remote Patient Monitoring (RPM) platform enables care coordination and real-time access to a patient’s health history. Includes modules for Chronic Care Management (CCM), Behavioral Health Integration (BHI) and Principal Care Management (PCM). Additional opportunities: Telemedicine, White label for Pharma/Insurance/OEM, Research Dashboard, Employee Wellness, Transitional Care.
 
Revenue Model - Post-Funding to capture >5% of B2C and 2% of B2B market share. 
 
 | Consumer – Patient App (> $15B Market) | B2B Opportunity (> $100B Market)
 | Upgraded Subscription Membership $10/user/month or $60/user/year USD In-App Care Plans $1.99 USD | Remote Patient Management (RPM)
Corporate Wellness platform $10-100/user/month USD subscription
 
Growth Forecast - Expects gross margins to be >65% and EBITDA >40% by 2023
 


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