Delaware Hyperbarics

Delaware Hyperbarics is an integrated wellness center featuring Hyperbaric oxygen therapy (HBOT) and massage therapy open to the public on a cash pay basis and accept workers compensation insurance and motor vehicle insurance for those injured at work or in a motor vehicle accident. As the only medical clinic in Delaware to offer these two treatments together, we are expanding to a second location to continue that line of our business and additionally begin accepting Medicare and private health insurance that will increase our revenue due to higher HBOT reimbursements that continue to increase each year. Our current staff includes 2 licensed massage therapists that are also certified hyperbaric chamber operators, a chamber operator who is a certified emergency medical technician, a chamber operator who is a certified nursing assistant, a medical biller who is also a massage technician and a chamber operator who is a biomedical engineer. We currently operate 3 hard shell hyperbaric chambers in Lewes, Delaware and 3 massage rooms. We are expanding  to operate 5 hyperbaric chambers, 2 massage rooms and an IV room . Workers compensation injury insurance, motor vehicle accident insurance, Medicare and private health insurance will be accepted as well as cash pay for hyperbaric oxygen therapy and massage therapy. We will open the cash pay, motor vehicle and workers compensation avenues first since this will immediately infuse cash into the company. Phase one is credentialing and other Medicare requirements that will take 3-6 months to complete, the second phase of accepting and billing health insurances and Medicare will take another 3 months to receive any revenue. So, cash pay and the support of our established clinic in Lewes will help to financially support the effort to establish a presence in the new location in the first six months of the expansion. Two of the fifteen hospitals in Delaware accept insurance for hyperbaric oxygen therapy right now. Thirteen hospitals as well as wound care have only these two options for HBOT referral in Delaware.  Christiana and Beebe Hospitals have a combined total of 5 chambers which leaves the people of Delaware underserved for hyperbaric oxygen therapy for diabetic foot wounds alone. Currently, we are the only option in the state for cash pay at our Lewes facility. The hospitals will not take cash payment. There are 14 approved FDA conditions for HBOT reimbursement, diabetic wound healing is the most common. However, there are over 200 conditions we can treat as a cash clinic. Many other states have hyperbaric physician run clinics but Delaware does not. Massage therapy cash sessions are $125 per 1 hour session. However motor vehicle insurance reimbursements for massage therapy are $200. HBOT cash reimbursements vary from $140 to $190 per session. HBOT worker compensation reimbursements are $220 and  motor vehicle reimbursements are $250 per session. HBOT Medicare reimbursements are $960 and private healthcare reimbursements will be $1500 per session. Most insurance HBOT protocols are 40 sessions per individual. We conservatively anticipate with all these pieces together, revenue will be in excess of $2Mil in the first complete year location 2 opens and is in full operation. We can add additional revenue from the Lewes clinic each year (this year revenue is $445,000 and has grown 30% each year over the last 2 years). Total revenue will be $2.5Mil in the first year and expenses will near $1.75Mil. Another area for revenue is mobile HBOT for health insurance. An established insurance facility may sponsor a mobile HBOT unit. There are other conditions that are reaching FDA approval and one of those is HBOT for veterans with PTSD or Traumatic Brain Injury, through the VA. But this coverage has been slow to emerge. However, we are currently working with veterans groups and other organizations to raise money locally to offer veterans treatment free of charge. ROI, revenue calculations and more information may be provided on request. Our mission is to bring people into optimal health. Thank you for your time.