MEDEX Spot provides outpatient services at points of convenience at very low cost. It uses a medically-equipped pod, as easy to use as an ATM. We have raised over $ ½ M, and are seeking our second round of funding. We have garnered the attention of MedStar, NW Medical Center, the Crisfield Clinic and other potential medical partners for trials and for potential medical call centers.
The problem we are alleviating is when you are suddenly ill, and you have to find a doctor, get a convenient appointment but the doctor isn’t available for several weeks. Then you have to drive there, sit in the waiting area with other sick patients, and then incur a co-pay of $20 to $35. Perhaps then you have to drive to the drugstore for a prescription. If that isn’t bad enough, access to primary care providers will get worse, especially as the doctor shortage increases. And deductibles, premiums and copays are increasing. We are addressing 30% to 50% of outpatient service’s needs.
With our solution, you can look up your nearest Medex Spot location, which could be in a drugstore, hospital emergency waiting area, supermarket or worksite. You enter this spacious, unmanned, self-service, sanitized, and private micro-cabins, and are instantly teleconferenced over a broadband private circuit to a nurse practitioner at a reputable medical facility. No waiting, no hassles. You get your assessment and a prescription nearby, if appropriate --- much more cost effective for you and your insurance plan. And your projected co-pay is in the range of $10.
This is important because convenient, low cost access means more people will seek healthcare earlier and more often, and telehealth has been documented to improve health and longevity for the chronically ill. We have a working prototype, and one patent pending and 2 patents in preparation.
Our go to market strategy is to partner with stores like Walmart, supermarkets, drugstores, – all closer than your doctor’s office for 80% of us. And also partner with medical facilities for the NPs With almost 3000 locations by the fifth year of introduction, we expect to generate over $200M from selling or leasing the micro-cabins, and reselling medical services to patients.
My core team is accomplished in telecomm facilities, computer and medical systems technologies, which enhances my background in customer facing telephony. For example, at AT&T I was program director for the networked kiosks for EPCOT for opening day. We have lined up some experienced partners to assist us and are seeking strategic partners. Along with our own experiences and skillsets, and our current suppliers and partners, we have received positive feedback from reputable doctors, NP and others in the medical field.
We are seeking more partners and $2M initially to get through customer trials. Then about $8M-$10M to launch the company into the marketplace.