MarpaSoft Mobile Practice Management for plastic and eye surgeons, medical spa managers and aesthetic medical practitioners
November 16, 2013 0 comments
We are in a process of launching a platform for creating native iPhone and iPad applications for several industry segments.
We have a client who is a celebrity plastic surgeons and we created for him a website and helped with SEO and online marketing. The challenge is that he is constantly busy to test our solutions. If you want to have a free prototype of iPhone applications, you can contact me, and you will have one.
Here is basic market research why we think that this product will sell well.
Here what you need to know about medical applications:
More than 20,000 mobile apps available to have patients to do everything. Only 21 apps approved by US Food and Drug Administration that set standards for safety, operability, privacy and content, but most of them haven’t undergone independent third party review. So far, doctors have been in no rush to recommend apps for patients. One reason: the off-putting number of titles. Concerns about app quality and authority holds doctors back. Doctors are not incentivized to use current apps.
Not a single app helps doctors to do their jobs better. And this is what we intent to do with our product offering.
Patient Portals Grow but Still have Problems
There are number of secure websites through which patients can access electronic health records, appointment schedules, test results and current medication. Portals would ideally allow patients to update contact information and patient histories, pay bills, request prescription refills, and communicate with providers via secure email. Granting patients online access to all of this would, it is thought, lead to better quality and coordination of care and lower costs. That hasn’t worked out this way!
One problem is lack of interoperability. A patient may belong to several portals -- an insurer's, a pharmacy's, a provider's, and a hospital's -- each with different data about the patient's health, but none can share that information with the others. Portals are limited and aren't user-friendly. "It's not enough just to have a portal," says Monique Levy, vice president of research for Manhattan Research. "A portal must be well run." Doctors also not happy with current CRM offerings.
We are not planning yet to create a large portal, but our applications will serve as a portal and connect doctor and his patients and prospects via mobile applications.
We create high quality mobile apps that enhance doctor/patient relationships and help doctors to do better job of monitoring patients.
Inspire practice changing trends where doctors start to “prescribe” their licensed apps to patients and prospects.
Increase quality of life for physicians and their patients and let doctors do their jobs easier
Plastic surgery has $13Bl revenue with 5% growth and medical spa market makes 2.6 Bl with 14% of growth every year.
There are no companies with a dominant market share in the plastic surgery, dental, dermatology, and medical spa software. Nexttech.com is the largest player. Their price for CRM is $600 per months, they have 18,000 accounts, but doctors are not happy because software is lacking features and integration and a company does not want to do any new features. There is also an market opportunity.
Demand for plastic surgery and medical spa has been on the rise thanks to factors including the aging population, favorable public perception and technological advances. More people will need tools that will help them manage their businesses.
Mobile Apps - Today iPhone app will cost $15,000 if you hire a developer. There are number of iPhone and mobile providers that offer cheaper self-service solutions where doctors will need to set their apps themselves. This is not what busy doctors want, they rather let a company to manage the system and even to eventually update content.
Biggest player who creates just mobile applications - is mobileroadie.com - their pricing is too high for customers - they charge from $8,000 for creating a basic application. They also charge monthly $99 per month for iPhone and Android apps and $299 for iPad app.
Our pricing will be about $2,000 for building the application, and 50 dollars monthly for hosting client's application. We will both provide self-service mobile application platform and manage this service for the client.
Doctors and patients are flocking on Social Media. Social media Websites for doctors, patients, and medical researchers are exploding in popularity. Members use smartphones, tablets, or desktop computers to securely connect with nearly any US physician and collaborate on patient care or find the right medical expert for a patient.
The other competitor of ours is bigcommerce.com - the company provides ecommerce template website and mobile website, but they do not offer native mobile applications like we do. They also provide marketing tools that most of the plastic surgeons whom we interview are using it. They charge 24.95 per month for MVP and the max price is $299.95. We are planning to introduce template websites as well, and we can find ways to structure pricing policy better.
CRM - Nexttech.com provides patient management sofware for plastic surgeons and all functions are following HIPPA compliant standards. We build our system following HIPPA compliance and we can offer easier to use software.
There are other competitors - Patientnow.com and carecloud.com who provide practice management for cosmetic surgery, dermatology.
An avarage price for CRM is $600 per months, and a largest player has 18,000 doctors using it, but doctors are not happy because it is lacking features and integration and a company does not want to improve the offering. There is also a further market opportunity for us.
Today we are looking for strategic partners and sales and plastic surgeons and medical spa practitioners who want to be first testers will get their applications for free with one year hosting in return for the reviews and feedback and referrals.
Bootstraping model starting with real world. Each account will generate 1,200 intiation fee + $30 a month. 1200+360=1560.
8 sales people can make 10 calls a day and get through to a prospect. There are 240 working days per year. Each successful sale brings $1560 per year.
5% of sales calls will convert within 3 months.
10 calls per/day x 240 days/year x 5% success rate x $1560/sale x 8 sales people = 10/1 x 240/1 x 5% x 1560/1 x 8 = $1,497,600.00
Recurring revenue 2st year - 10/1x 240 x 5% x 360 x 8 = 345,600
Sales people will make = 10/1 x 240/1x 5% x 500/1x 8 =480,000
We pay sales people $500 per sale, so based on projections each sales will make $60,000. We have a tolerant group of customers (3 plastic surgeons) who are willing to be guinea pigs
How We Generate Revenue
- Continue selling and building mobile apps
- Recurring income, $360 dollars per app per year
- Transaction income - $1 dollar will be charged for each in-app purchase
- Advertising income - when we will have over 200 apps with large numbers of downloads
Marketing & Sales
- Recurring revenue
- Word-of-mouth advertisement
- PR via connections with newspapers
- Presentations at local meetups and industry conferences
Lisa Smirnova - CEO, 22 years of management consulting and business management experience. Handles of the responsibility of dozen of employees, great attention to detail.
Andrii Kurinnyi - VP of Technlogy, off-scale programming talent created a number of successful software products. A lead programmer with over 10 years of experience developing successful software, managing technical products, developing and leading teams. Andrew has advanced degree in math and computer science from a prestigious university in Ukraine. He also has degree in Business Administration with concentration in Finance and Marketing Certificate from UCLA Extension. Andrew does both front end and back end. Andrew has extreme enthusiasm for creating something new.
Dr. Roy Kim - celebrity plastic surgeon, well respected in the industry, gives a lot of presentations; knows what features are missing from current software plastic surgeons use and how to advertise and sell to other doctors
Nadine Curias - PhD in Marketing and Advertising Managed all advertising, communications and promotional programs resulting in new product introductions and increased consumer, brand and corporate awareness. Managed multiple advertising accounts including Sheba, Caesars World, Park Place Entertainment, Taisho Pharmaceuticals.
Peter Kraus, - Sales Consultant; teaches at UCLA Extension
Anatolii Kucheruck - PostreSQL guru (since 1996) and he also programs in Django/Python (3 years) and Objective C (6 months). He supports applications, and works on system administration and database development, automates software as a service.
Olya Drobitko - Creative Director
Current Status, Next Steps & Demo
MarpaSoft LLC is Los Angeles agency specializing in creative design, custom web and iOS application development.For over 4 years, we help companies create better websites, services and online products.
We have launched over 120 native iPhone apps
We take the best shot with a prototype, immediately get it to the market, and iterate quickly
We are currently looking for plastic surgery offices and medical spas to offer free prototypes in iPhone and validating business ideas.
Please, contact us if you have a business propositions, have comment, want to know more. The market is growing and if you are good at sales, you will find an excellent opportunity.
Posted by lisa
Categories: Business Entrepreneurship