1. Instant audio and video consultations with doctors
Jordan Michaels
CEO / Co-Founder
jordan@ringadoc.com
415.735.4315
CONFIDENTIAL 1
2. Problem
2 Sided Inequality
Doctors are doctors Patients are patients
between 9-5 24 hours a day
CONFIDENTIAL
3. Options
What do we do when we’re sick?
• WebMD or Google
• Mom & soup
• Doctor in family
• Doctor next door (VIP)
Even with insurance and primary care physicians why
are these our options?
CONFIDENTIAL
4. Before
Because calling your doctor after-hours is a pain
It costs your doctor hundreds of dollars per month
&
Your doctor isn’t incentivized to be available for you
CONFIDENTIAL
5. After
Ringadoc’s Answering Service fixes this!
It saves your doctor hundreds of dollars per month
&
Incentivizes them to be available for you
CONFIDENTIAL
7. Growth
- Will hit 500,000 by January 2013
-- Average 127% MOM Growth
Average 261% MOM growth
CONFIDENTIAL 8
8. Product
1. Doctor simply forwards
office # to Ringadoc
instead of current
answering service
number
2. Patient calls regular
office number and
interacts with
Ringadoc’s automated
system
3. If urgent, appropriate
provider is notified
instantly and can handle
call as they deem
appropriate
CONFIDENTIAL 9
9. Feedback
“Ringadoc’s answering service is truly an innovation for on-call docs. It is easy to
use, less intrusive, and I don’t get charged per phone call like my old service; it
just makes good business sense for a busy practice.”
-Dr. Susan V. from Oregon
“I cannot wait to fire my answering service!”
-Private practice in California
“If every company had the fantastic service, PR, and great desire to help as you
guys, this would be a better country.”
-Dr. Rebekah C. in Tennessee
“We used to pay $200/month for our service that was not nearly as good as
Ringadoc!”
-Private practice in Montana
“Ringadoc is the bomb! It is so easy to use, I love checking my voicemails online.”
-Office manager in California
10. Timeline (mid)
We Are Here!
Mobile App for Mobile App for
Doctors Patients
Q4 2012 Q3 2013
| |
Ringadoc Doctor Patient
Answering Monetization Monetization
Service Q1 2013 Q4 2013
Q3 2012
CONFIDENTIAL 8
12. Market
The answering service market:
Already exists.
It is very large.
It is highly fragmented.
It is ripe for innovation.
13. Market
Doctors are already spending billions annually
$2bn annual spend
800,000 total doctors
$1bn annual spend
400,000 PCPs
14. Acquisition
We will acquire doctors on our own & from channel partners
such as these guys:
Status Potential
Reach
Deal reached 50,000
Term sheet 160,000
Term sheet 25,000
Audience 125,000
surveyed &
validated
16. Acquisition
We will acquire doctors on our own & from channel partners
such as these guys:
Status Potential Expected
Reach Conversion
Deal reached 50,000 5,000
Term sheet 160,000 16,000
Term sheet 25,000 2,500
Audience 125,000 12,500
surveyed &
validated
18. Doctor Monetization: Potential
We will acquire doctors on our own & from channel partners
such as these guys:
Status Potential Expected Potential
Reach Conversion Revenue
Deal reached 50,000 5,000 $250,000/mo
nth
Term sheet 160,000 16,000 $800,000/mo
nth
Term sheet 25,000 2,500 $125,000/mo
nth
Audience 125,000 12,500 $625,000/mo
surveyed & nth
validated
19. Competition: Answering Service
Live Agent Our Edge
- Cost
- Technology automation
- User experience
Automated Systems
- Cost
- Simple setup
- Triaging features
- Monetization opportunities
CONFIDENTIAL
20. Timeline (final)
We Are Going
Here!
Mobile App for Mobile App for
Doctors Patients
Q4 2012 Q3 2013
| |
Ringadoc Doctor Patient
Answering Monetization Monetization
Service Q1 2013 Q4 2013
Q3 2012
CONFIDENTIAL 13
21. Solution(s)
Do doctors want to charge patients for calls?
Source:
Yes No
Yes No
CONFIDENTIAL 10
27. Doctor & Patient Monetization
pay for the Ringadoc Answering Service
$49/month per office
pay for an instant virtual consultation
$40/call, doctor gets $20
Consultations will come from two pools
where doctors already spend their time:
$40/call $40/call
In-person visits After-hours calls
~1,200 per month ~200 per month
CONFIDENTIAL 18
28. Patient Monetization: Assumptions
In-person visits
~1,200 per month
Ringadoc will monetize
$40/call 1.0% of current in-person
visits with 1.5% monthly
growth
After-hours calls
~200 per month
$40/call Ringadoc will monetize 2.0%
of current after-hours calls with
1.5% monthly growth
CONFIDENTIAL 19
30. Competition: Telehealth
With the answering service, Ringadoc is entering a known market as a
known practice management solution
Paid for monthly by doctors
To use with their 2,650 patients*
*This is why we’ll beat:
They’re introducing a new workflow and creating a new market, rather than
leveraging an existing workflow and market
31. Network Effect
By targeting doctors we are exponentially growing our network
Each x 2,650
vs
.
Leverage an existing relationship Rather than building two separate pools
and hoping they want to interact
32. Network Effect
We improve cross-coverage care practiced by
physicians everywhere
The more colleagues a doctor brings onto the
platform The better the level of cross-coverage care
The more valuable Ringadoc becomes
CONFIDENTIAL
33. Team
Jordan Michaels, CEO & Co-Founder
• University of Southern California (Neuroscience and Biology)
• Interdisciplinary background with Los Angeles Dodgers, LAC+USC, and Cedars-Sinai
Micah Grossman, Product Manager & Co-Founder
• New York University (Economics and Cinema Studies)
• Quality assurance at 2K games and medical billing experience
Chino Jeng, Sr. Product Designer
• Interactive Design at TED, Facebook, Apple
• Mobile Art Director at skyrockit
Lukasz Tackowiak, Lead Ruby on Rails Architect
• Located in Warsaw, Poland
• 7 years of programming experience and member of team since inception
Ryan Howard, Board of Directors
• CEO and Co-Founder of Practice Fusion, the fastest growing EMR community
• Healthcare technology industry leader and visionary
34. Recap
We Are Here!
Mobile App for Mobile App for
Doctors Patients
Q4 2012 Q3 2013
| |
Ringadoc Doctor Patient
Answering Monetization Monetization
Service Q1 2013 Q4 2013
Q3 2012
CONFIDENTIAL 24
35. Financing
Currently seeking $1.95mm convertible note
Have raised $1.75mm to date from…
Founders Fund Siemer VC Ryan Howard Sharon Knight
Facebook, Yammer, Palantir Marketfish, Science, Tonx CEO, Practice Fusion Former President
One Medical
Terms:
- Uncapped note, discount in form of 5% MOM coverage, 8% annualized
interest
25
36. Vision Summary
Ringadoc: Uber for Doctors
Democratizing
Marketplace
Need a hand?
Taskrabbit
Not Feeling Well?
Need a ride? Ringadoc
Uber Talk to a
doctor
whenever you
Need a place? need to.
AirBnb
CONFIDENTIAL 27
Why create a market when one already exists? A doctor knows what their answering service is, they may not know what a telehealth consultation entails from our competitorsDoctors spend billions annually. Most doctors need one.It is highly fragmented. There’s no clear winner.It is ripe for innovation. It’s antiquated, expensive, and a poor experience.
Why create a market when one already exists? A doctor knows what their answering service is, they may not know what a telehealth consultation entails from our competitorsDoctors spend billions annually. Most doctors need one.It is highly fragmented. There’s no clear winner.It is ripe for innovation. It’s antiquated, expensive, and a poor experience.
