KINGSCROWD: "Enabling Telehealth for Small Clinics with CallingDr"
Dear CallingDr followers,
Kingscrowd, is a company that was founded with the vision that everyone should have access to institutional grade research and analytics tools that enable informed startup investment decisions, regardless of investment experience, as listed on their website.
They chose CallingDr as the Deal of the month, as listed in this article. (note, you might need subscription to read the article. CallingDr is not affiliated with Kingscrowd in anyway or form).
Kingscrowd talks about slow adoption of Telehealth in USA, "The reasons for the slow adoption of telehealth are myriad. However, there’s widespread agreement about some of the major factors. One is the lack of awareness among prospective telemedicine patients. Another issue is the lack of affordability, particularly given the limited reimbursement coverage of telehealth by major insurance payers like Medicare. The final major hurdle is the high outlays (in terms of financial cost, time, and clinician buy-in) needed to integrate telehealth offerings into existing care workflows."
Then they move to the solution provided by CallingDr,
CallingDr is a telehealth enablement company that is providing multiple digital pathways for patients and providers to connect:
- The core CallingDr offering is a Platform-as-a-Service (PaaS) solution that provides clinics with a comprehensive set of features and capabilities for deploying telehealth services. These features include secure messaging, remote monitoring, self-pay & co-pay options, and ordering of prescriptions and labs. The platform makes it easy for clinics to integrate and offer telehealth to their patients.
- Complementing the core platform is the FindingDr service. It operates as an online appointment-booking service that patients can use to find suitable physicians and facilities. FindingDr lets patients book visits (both in-person and telemedicine appointments) via a few quick taps on their phone.
- Finally, the company also offers “CallingDr OnDemand.” This is a pool of available physicians (covering Primary Care as well as specialties such as Pediatrics and Behavioral Health), so that patients with acute needs can match with providers for immediate virtual care."
Talk in detail about the team and management:
CallingDr, and its parent company MyApps Corporation, are led by CEO Adnan Malik, an experienced technologist with a multi-decade career spanning major IT companies such as Seagate, Veritas Software, and Symantec. Prior to founding MyApps, he most recently served as CTO at an electronic medical records company. While there he created the firm’s ambulatory EMR platform, taking it through full certification as well as integration with major lab test and pharmacy providers.
The current CTO of CallingDR, Kashif Akram, also has deep experience with EMR creation, having previously worked at two different EMR providers.
CallingDr’s corporate and advisory boards also feature multiple experienced physicians and healthcare providers who bring a variety of specializations to bear, ranging from pulmonology and cardiology to physiotherapy and family medicine."
Then talk about growth, potential market share, and finally, why they like CallingDr?
"Partnering With Clinics Rather Than Trying To Sell To Patients – Although the rates of telehealth adoption prior to the COVID-19 pandemic were underwhelming, there were still some winners pulling away from the rest of the pack as of 2019. These emerging leaders included Teladoc (a public company with $14B market cap) and Doctor on Demand (a private company with unicorn aspirations, having raised at a nine-figure valuation in 2018).
The CallingDr team has differentiated themselves by focusing on clinic partnerships, rather than trying to get individual patients to pay for a telehealth service. In contrast to services like Teladoc and Doctor on Demand (which charge patients $50 and up for individual appointments), CallingDr doesn’t charge patients anything. Instead, it monetizes by charging clinics or individual physicians for their use of the platform as a means to connect with their existing patients. This differentiation makes it much more likely that any given patient will be willing to use – and keep using – the CallingDr app.
Subscription Revenues Are The Key To Investors’ Hearts – From the standpoint of assessing CallingDr as an investment, its choice of a subscription-based business model would be regarded by many prospective investors as one of the attractive aspects of this opportunity. Subscription plans create streams of recurring cash flow that make a company’s revenue much more stable and predictable than non-recurring business models. The company’s current subscription pricing of between $50 and $150 monthly per physician would likely represent a very reasonable cost proposition to hospitals and clinics."
Overall a good resource to read as a whole article. thanks