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Med-Kick Inc

At Med-Kick, our mission is to revolutionize patient care by harnessing the power of innovative remote patient monitoring technologies and our skilled nursing expertise.

West Palm Beach, FL, USA

One Liner

One Liner
At Med-Kick, our mission is to revolutionize patient care by harnessing the power of innovative remote patient monitoring technologies and our skilled nursing expertise.

What Problem We are Solving

Problem
Patients are experiencing increasingly longer wait times between doctor office visits which can present numerous challenges, especially to those with chronic conditions. This contributes to more frequent ER visits/readmissions, poor health, and high healthcare costs. Additionally, physicians are becoming capacity constrained with declining revenue.

About Us

About Us
Med-Kick provides Medicare reimbursed products and services that enable physicians to monitor patients health in real time. The company also provides nurses that patients can access 24/7 without burdening a physician's resources. In addition to improving patient care, these services create new revenue streams for physician groups.

Venture Highlights

Highlights
Med-Kick has grown it's revenue by over 100% a year since 2020, most recently achieving revenue of $743,000 for the full year 2022. Through this period, the company was bootstrapped with the only invested capital coming from the founder of >$350,000. The first outside capital was invested in May of this year of $185,000. 

Business Model

Business Model
Med-Kick contracts with physicians, hospitals, ACOs, and other healthcare organizations to provide remote care services to eligible Medicare patients. We utilize registered nurses or licensed practical nurses and provide the latest in monitoring device and platform technology, all of which is reimbursable.  When contracting with physicians, we track all billable interaction with patients and provide them with the Medicare claims which they submit. Once reimbursed they pay Med-Kick a fee for the services provided, so they add revenue streams and improve patient outcomes with no out-of-pocket costs. With hospitals and larger organizations we bill $30, $90, or $120 a month for device, nursing, or device and nursing services and enable them to more effectively keep patients healthy and lower hospitalizations, readmissions, and ER visits. Not only is this a benefit to a patient's health, but it saves money.

Competitive Advantage

Quote
Med-Kick was founded by a physician, Dr. Sadik Bizanti, who identified an unmet need in remote patient monitoring services to improve patient health. He started the company with an investment of $350,000 of his personal money. He is enthusiastic and committed to the success of Med-Kick. In addition, the company has significant built-in growth. To date, the company has enrolled 8,000 patients, of which only 1,800 patients are currently receiving services (generating revenue) due to lack of the necessary resources to keep pace with enrollment/sales growth.  By onboarding patients more rapidly through further investment, the company will be able to grow its revenue more quickly.

Revenue

Revenue To Date
$2.5M
MRR
$75K
Revenue YTD
$650K
Burn Rate
$65K

Users

Total Users
2K
Total Users (Past 30 Days)
1.2K
Daily Active Users
40
Monthly Active Users
1.2K
Total Paying Users
2K
MoM Growth Users
5%
Organic Traffic %
N/A

Customer Costs

CAC
$200.00
LTV
$23K
Churn
N/A
Margins
26%

Go-To Market Strategy

Business Strategy
Our growth strategy is focused on four main pillars: 1) Onboarding/enrolling our contracted patients (currently ~2,500 of >10,000 contracted patients are enrolled and receiving services); 2) Targeting larger customers (hospitals and ACOs versus private physician practices); 3) Creating a new sales team structure (recently hired a head of sales and three sales managers to build an experienced sales team); and 4) Expand our sales and marketing efforts (to date, there has been minimal capital invested in building the Med-Kick brand online with the website and social media, as well as through traditional means such as emails, flyers, etc.).

Competitive Analysis

Competitive Analysys
Our competitors predominantly provide remote patient monitoring and/or chronic care management services. At Med-Kick, we provide both as well as four other services, including behavioral health integration, which we are seeing a lot of physicians ask for. For those in the space that provide remote patient monitoring and devices, they typically on support the use of two to three devices (weight scale, blood pressure cuff, and glucose meter). We provide and support those three devices as well as three others to provide care for a much broader range of conditions. Our devices are also cellular as opposed to Bluetooth. This means our devices upload data immediately straight to the cloud, whereas a Bluetooth device must connect to a cellular hub, adding an extra point of connection and increases the potential for disruption of data transmission. Additionally, we use technology that leverages three telecommunication services and finds the best connectivity relative to the patient's location. Unlike others who use just one service provider. Finally, we provide care with registered nurses and licensed practical nurses. Our competitors use an array of caregiver experience, including medical assistants that require a lower level of training. This leads to a greater need for escalation and therefore greater involvement by multiple caregivers, leading to inefficient use of resources.
Competitor Website
Engooden Health www.engooden.com
SAM Group www.samgroup.health
Vitel Health www.vitelhealth.com

Networking

Networking
We are open to meeting up to grab a coffee, or just to chat. We would really enjoy your feedback and insight into our venture and would be happy to discuss anything that you are currently working on to see if we can be of service!

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Capital

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Name Amount
Amount Left $4,815,000.00
Amount Raised (This Round) $185,000.00
Amount Raise To Date $550K
Investment Type N/A
Type of Raise SAFE

Valuation
N/A
Friends & Family
$550K

TAM SAM SOM

TAM
$100B
SAM
$100B
SOM
$3B

Business Stage

Business Stage
Seed

Business Type

Business Types
Investor-Backed

Categories

Healthcare