Investor Pitch Deck

23
BUSINESS OVERVIEW Get an expert medical second opinion wherever you are, whenever you want SECOND OPINION EXPERT

Transcript of Investor Pitch Deck

Page 1: Investor Pitch Deck

BUSINESS OVERVIEW

Get an expert medical second opinion wherever you are, whenever you want

SECOND OPINION EXPERT

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2© 2015 Second Opinion Expert, Inc.

Streamlines the process of obtaining a medical second opinion

Connects patients with independent, expert physiciansProvides a customizable software platform allowing healthcare networks to provide their own health services

What SecondOpinionExpert Does

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Unnecessary Medical Services$210 billion spent per year on unnecessary services

o 42% of Medicare patients undergo unnecessary procedures each year.

o 34% of all knee replacements are unnecessary.

o 22% of implanted defibrillators are unnecessary.

o 17% of spinal surgeries are unnecessary.

The Problem

Unnecessary surgeries lead to higher insurance premiums, higher out of pocket expenses for individuals and loss of productivity for employers

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More than 50% of breast cancer patients receive different treatment advice when seeking a second opinion.

Second opinions lead to a change in diagnosis or treatment in more than 40% of cases.

The radiology interpretation error rate is as high as 33% for abnormal studies

Second opinions help prevent unnecessary procedures by enabling patients to make better decisions about their care.

In addition to improving treatment, second opinions provide peace of mind to patients and families as they struggle to make difficult medical decisions.

The Solution - Second Opinions

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Limited access to qualified physiciansDifficulty in sending necessary patient data to a physicianDisruption of patients’ lives due to travel Finding a physician the patient can trust

The Problem with Traditional Second Opinions

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Innovative technology platform synthesizes medical data into a convenient report and efficiently delivers it to physicians

Our expert physicians review the data and issue an independent, objective second opinion within just days

Because our physicians are not the patient’s treating physicians, no incentive to recommend unnecessary, costly procedures or tests

Makes Obtaining a Second Opinion Easy and Affordable

The SecondOpinionExpert Solution

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o Patients more comfortable with telemedicine and expect to request and receive health services through their smartphones, tablets and computers.

Expansion of consumer-driven healthcare

o Over half of US states require private insurers to cover telemedicine just as they would cover in-person care

o Proposed FSMB Policy would regulate telemedicine across states

Easing of telemedicine regulations

Why Now?

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Predicted to be $1.9 billion in 2018

Market OpportunityTelemedicine is $580 million industry 31% annual growth from 2010-15

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No competitor possesses a technology platform that delivers important patient information to physicians as efficiently.

Competition

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$4B investment in the digital health space in 2014 – Telemedicine was the fastest growing category with $285M investment in 2014

oGrand Rounds – raised over $100M. Valued at over $750M

oBest Doctors – raised a total of $65.5M

oTeledoc – raised $50M in 2014 (total of $96.6M)

oDoctors on Demand – raised $21M in 2014

Investment Environment

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Direct Health Products provided to patients through our platform by our panel of physician experts

Customized Technology Licensing of our platform to healthcare providers and other customers

Our Product Categories

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Using our platform and panel of physician specialists to provide health services directly to patients

Five online, HIPAA-compliant services:

o Second Opinions by specialists

o eHealth Records

o Wellness Review and maintenance – in development

o Medical Consultation and/or evaluation – in development

o Ask a Doctor - in development

Direct Health Products

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Second Opinion - currently functional and in use by patients

o Patient completes comprehensive, specialty-specific questionnaire:

Direct Health Services: Second Opinion

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Second Opinion (cont.)oPatient uploads medical records, test results or images, or we can retrieve records on patient’s behalf oPhysicians review images via platform’s image viewer:

Direct Health Services: Second Opinion

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Platform collects, synthesizes and organizes patient responses and records into physician-friendly format.

Appropriate physician specialist reviews information and creates Second Opinion Report containing an assessment of patient’s medical condition and treatment recommendationsPatient receives Second Opinion Report through platform within a few days of submitting request

Patient has option of requesting a video conference prior to physician completing Second Opinion Report

Direct Health Services: Second OpinionSecond Opinion (cont.)

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o Over 250 board certified, experienced, independent physicians across the United States

o Clinical privileges at leading medical centers (e.g., Cedars-Sinai, UCLA and USC)

o Participation in leading clinical trials o Coverage across most of the 50 Stateso Passionate about providing effective care

Direct Health Services: Second Opinion

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eHealth Records – currently functional and in use by patients

Platform creates a comprehensive Health Summary from patient health information and medical records

Patient can securely share Health Summary through the platform with any healthcare provider, caregiver or family memberFacilitates patient involvement and control over health information and records, improves communications with physicians

Direct Health Services: eHealth Records

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Available on Apple and Android devices Version 1.0 approved for use and download from iTunes Store

eHealth Records Mobile App

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SOE’s proprietary technology platform available for licensing

SOE can fully customize & integrate the following online services within a customer’s website or platform:

Technology Licensing

o Second Opinions by specialistso Wellness Review and maintenanceo Medical Consultation and/or

evaluationo Ask a doctor o eHealth Records o Sharing of radiology images with

referring physicians

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Direct Health Services Transaction Fee Model

o E.g., $300 for each standard second opinion, $500 with videoconference

o We pay our physicians 50% of the fee for any second opinion performed

Subscription Fee Modelo Monthly fee for specific access/services

Technology Licensing Transaction Fee - for each completed service Physician Fee - for each physician with access to platform

Business Model

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o Assuming our Second Opinion service can eliminate 25% of these costs, this results in a reduction of $200 per patient per year.

o The total cost of the service over a patient population is $15 per person assuming a 5% utilization rate and a $300 cost.

o For a healthcare entity with 10,000 members, this results in healthcare savings of $1.85 million per year, or $185 per person.

Cost Savings: Second Opinionso Unnecessary medical services account for

approximately $800 per person in the U.S. every year.

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Mohan Ananda, PhD, JD – Chief Executive Officero Founder and first CEO of Stamps.com, Inc. (Nasdaq: STMP) ($1.2B Mkt. Cap.)o Former Director of Envestnet (NYSE: ENV) ($1.5B Mkt. Cap.)o Ph.D. in Astrodynamics, UCLA

C. Thomas Peter, M.D. – Chief Medical Officero Cedars-Sinai Medical Center, 1977-2007. Over 20 years as Head of Electrocardiography

and Electrophysiologyo "Lifetime Achievement Award" by UCSF in 2007

Ash Davé – Presidento Vice President and Chief Information Officer, Cedars-Sinai Health System, 1981-1994o Founded Optimatrix Health Solutions, Inc., first for-profit Healthcare I.T. Services for

Cedars-Sinai

Andre Henderson – Chief Technology Officero Former Director of Information Technology at Mission Community Hospital, Panorama

City, CAo Holds patent in Medical Media File Management

Mark K. Urman, M.D. – VP, Physician Relations, Quality Assuranceo Attending Cardiologist at Cedars-Sinai Medical Center (Former Clinical Chief of Cardiology)o Clinical Professor of Medicine at the David Geffen School of Medicine at UCLA

Executive Team

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For further information or inquiries, please contact:

Mohan Ananda, PhD, JDCEO, SecondOpinionExpert, Inc.

[email protected](805) 907-0597