The U.S. Commerce Department’s Bureau of Economic Analysis announced recently that healthcare spending has risen 9.9 percent in the first quarter of 2014, the largest quarterly increase in more than 30 years. The cost of healthcare in the U.S. is now roughly $3 trillion and it is only going to get worse given the increasing costs of Obamacare subsidies, projected to exceed $1 trillion in 10 years, and because the 80 million baby boomers will want and demand more healthcare services as they age. Additionally, the U.S. Dept. of Labor predicts a shortage of more than 91,000 physicians by 2020, which does not take into account the fact that 40% of physicians are age 55 and older and many will retire early because they hate Obamacare. These three major driving forces have created the perfect storm and a great business opportunity for experienced entrepreneurs like myself who are motivated by this great market. I founded DrVisit, Inc., an early stage company that I believe will become a multi-billion valuation when I find the right investor(s) partner who will fund the company’s $10M plan. In the 1990’s I was CEO and founder of a managed healthcare company that built a nationwide healthcare network of 100,000 physicians and medical providers. Even though it was not an easy value proposition we were able to take 40% of their revenues and prospered exponentially. DrVisit will also build a healthcare network and providers will all use DrVisit.com for their telemedicine / telehealth consultations, when appropriate. We will make it easy for patients and providers to schedule and conduct “Virtual DrVisits”, online Dr. Consultations with their primary care physicians, specialists and other medical providers using secure video chat, mobile messaging and email. There are roughly 1.5 billion physician visits a year in the U.S. and 80% of those DrVisits are basically just consultations. We will help physicians make more money, be more efficient with less hassle in their practices and help to provide a higher level of service to their established patients with better outcomes and greater patient satisfaction. A much better value proposition than previously when we contracted with physicians. In more than 30 years of experience in entrepreneurship and in starting 10 companies, including one very successful healthcare services company, I have learned many things. I have learned that leadership and communication starts at the top, both internally and externally. The CEO resonates the culture and values of the organization. A company must have a strong management team and everyone in the company must be driven and have an ownership attitude. Hiring and retaining the best people is critical for any successful company. You need great people but you must also have a great market and a great product/service; no excuses. You must have an excellent business model and this is where many companies fail. A company must provide strong support for its customers, know the competition products and business models and create a unique value proposition for its customers. Additionally, a company must be careful to protect its intellectual property, not to waste money and put financial controls in place. It must be accountable to its shareholders and be an active member in its community while embracing new emerging technologies and use the best tools to accomplish its financial goals. Finally, it takes capital to hire the right people and do all the things necessary to create a very successful company. Talent, a great business opportunity and capital combined can take a startup like DrVisit, Inc., which is pre-revenue and create a multi-billion valuation company providing valuable services to millions of people not just in the U.S, but in any world market as people everywhere want and need better access and more convenience to their personal healthcare physicians and medical providers. Potential co-founding investor(s) are invited to view the DrVisit.com presentation at www.drvisit.com/presentation.
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