We are creating a portal, which will allow patients to search hospitals all over the world, compare prices, communicate with doctors or hospital representatives and book Medical treatment online. Also patients, using our website can arrange medical trip to the hospital they choose: they can buy flight tickets, insurance, book hotel or appartment near hospital, order translator services with Medical education and find best places to visit in the city of destination, and enjoy vacation while taking Medical treatment.
Where we are?
1. We setup a strong team (15 people);
2. We made market research and studied competitors;
3. We developed strong monetization scheme (5 different sources);
4. We invested time (2000+hours) and around $5000 in project development;
5. Prototype is under development stage (will be ready by 16 of July 2018)
6. We are ready to invest additionally up to $30k of our own savings;
7. We have preliminary agreement of cooperation with 4 global medical tourism providers
8. We need up to $2M of investments for further project development and marketing.
- Global Medical Tourism market is estimated by $22Bln (Y2018);
- Annual growth up to 25%;
- Around 11Mln people every year go for Medical treatment abroad;
- Patient spend in average $2000 per visit;
At this moment there is lack of competition in the market, as not that much projects presented in the field, and the existing ones are not that strong enough.
Problem or Opportunity
Problem we solve:
1. Expensive medical treatment in developed countries;
2. Low quality service in less developed countries;
3. Difficulty to arrange Medical trip;
4. Lack of qualified support in Medical Tourism.
Solution (product or service)
How we solve?
We are creating Medical booking website (and mobile apps), where people can search, book and
organize Medical Treatment all over the world. Patients can search for Hospital, buy air flight tickets,
book hotel near hospital and arrange translator with medical education.
Facts: 50k+patients; 900+ hospitals;
Raised money: $11.5mln.
Pros: Nice design and good budget
Cons: No Mobile App, Customers need to pay for assistance, low number of customers and hospitals
Facts: 1.5+mln patients, 120k hospitals
Raised money: $3,89mln
Pros: The biggest hospital database and highest patient number
Cons: Not user-friendly interface, no Mobile App
Advantages or differentiators
Our key strengths are
1.User and mobile-friendly interface;
2.Users don't need to pay for services to us, as it's made in medigo.com;
3.All-in-box solution for patients (hospitals,air tickets,hotels, insurance, translator,...);
4.Big experience of Startup creation from scratch;
5.Diversified monetization scheme.
- Hospital comission (10%) - around $200 per patient;
- Booking affiliate (40% of margin) - around $21 per patient;
- Medical insurance - around $5 per patient;
- Air service affiliate - around $10 per air ticket;
- Translator - (10%) - around $20 per patient.
Our business is mainly built on commission/ affiliate scheme. We will not get money from customers, we will provide them information and support, and will receive comission from our partners: hospitals (10%), booking.com affiliate ( they provide 40% of their magrin for affiliate partners), Medical Insurance fees, Translator fees, Air service affiliate.
In future we are considering to provide paid services to hospitals on marketing in our website.
Money will be spent on
We are having a prototype with key functionality and design made.
We need money for certain important things:
1.Further development of the project: add more functionality, Mobile App creation and adding more local versions of the website in different languages;
2.Meeting with organizations in Medical Tourism and Hospitals to increase number of partners and geographic coverage of the project;
3.Marketing- it's a key expens, as we are planning to spend more than 50% of required budget for marketing, to attract more customers and make project work to start monetization process work;
4.With growth of project and traffic, we will need to increase our hardware resources in Cloud hosting, that will require increase of expenses too;
5.Team expansion will require salary expense increase.
Offer for investor
The amount of investments and Share we can provide will be discussed during meeting with the investor. As there could be a lot of conditions discussed and negotiated.
At the early stage, we believe that Google, Facebook and Instagram will be the key sources of traffic and customers. Traffic conversion rate to final customers can be lower than we expect, which can lead to slower growth of our project.
China market can be difficult to reach, as they have a practice to block International resources (Google, Facebook, Youtube,...)
Incubation/Acceleration programs accomplishment
No, we haven't participated in Accelerator programs, as we have own big experience in creating Startups.
Owners of a project created several pretty successful Startups before:
Founder of Yvision.kz, Kiwi.kz and Squirell Digital Agency
Founder of Forensis company and Bonjour Magazine;
Won the competition and other awards
We've not participated in any competitions yet, at the moment of filling this Application.