Join us in changing the future of dentistry
MyDentalCompanion Investment Pitch
Dec 05, 2014
The dental industry is currently facing problems with communication and sales conversion. According to research, “40-80% of medical information provided by healthcare practitioners is forgotten immediately […and] almost half of the information that is remembered is incorrect.” As market demands for transparency, availability, and seamless communication increase, dentistry has yet to find a simple solution to these problems. Despite significant advances in technologies and treatment methods, dental patients often lack an adequate understanding of their own treatment needs. Dental marketing is based on a set of practices and traditions which have not kept pace with other aspects of the market. As a result, significant time spent by dentists and dental staff in educating patients does not produce a sufficient return on investment.
MyDentalCompanion is a mobile software system which provides solutions to dental marketing and communication problems. The system empowers patients to take part in their own dental health through interactive, photography-based education, and quick, efficient communication. The use of personalized visuals is designed to place power behind each diagnosis, leading to increased motivation and sales conversion. MyDentalCompanion’s self-triage and direct communication functions are designed to streamline after-hours and emergency availability, saving dentists time and fostering an increase in patient loyalty. The system is projected to boost revenue for dental practices and improve dental health for patients.
The dental market consists of 160,000 practicing dentists. The dental equipment and consumables market had been valued at $20 billion. 80% of dentists already use intraoral photography, and new technology acceptance in dentistry has been shown to be independent of the individual practitioner’s age. Dental education software has gained significant traction in the market, yet remains almost exclusively office-bound. Automated communication systems based on voice, text, and email messaging are ubiquitous in the industry. Mobile applications have developed a minor footprint in the dental industry within the past 2 years, however most competitors’ products remain either one-dimensional or focused on the dentist.
MyDentalCompanion is currently raising $200,000 in seed funding, for which 10% company equity has been set aside. Initial investments will fund the development of the software system - projected to take approximately 6 months from start to finish. Following beta-testing, The Company aims to generate SaaS subscription revenue from dental practices across the United States. The General Managers of the Company have sought out early adopters of the App and are developing profit-generating relationships at the present time.
MyDentalCompanion was founded in 2013 by Dentist Timothy Wieg and Public Health Epidemiologist Robert Kurtz. Operations and marketing are managed by Claudio Rivero.
MyDentalCompanion is a mobile software system which provides solutions to dental marketing and communication problems. The system empowers patients to take part in their own dental health through interactive, photography-based education, and quick, efficient communication. The use of personalized visuals is designed to place power behind each diagnosis, leading to increased motivation and sales conversion. MyDentalCompanion’s self-triage and direct communication functions are designed to streamline after-hours and emergency availability, saving dentists time and fostering an increase in patient loyalty. The system is projected to boost revenue for dental practices and improve dental health for patients.
The dental market consists of 160,000 practicing dentists. The dental equipment and consumables market had been valued at $20 billion. 80% of dentists already use intraoral photography, and new technology acceptance in dentistry has been shown to be independent of the individual practitioner’s age. Dental education software has gained significant traction in the market, yet remains almost exclusively office-bound. Automated communication systems based on voice, text, and email messaging are ubiquitous in the industry. Mobile applications have developed a minor footprint in the dental industry within the past 2 years, however most competitors’ products remain either one-dimensional or focused on the dentist.
MyDentalCompanion is currently raising $200,000 in seed funding, for which 10% company equity has been set aside. Initial investments will fund the development of the software system - projected to take approximately 6 months from start to finish. Following beta-testing, The Company aims to generate SaaS subscription revenue from dental practices across the United States. The General Managers of the Company have sought out early adopters of the App and are developing profit-generating relationships at the present time.
MyDentalCompanion was founded in 2013 by Dentist Timothy Wieg and Public Health Epidemiologist Robert Kurtz. Operations and marketing are managed by Claudio Rivero.
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Transcript
Join us in changing the future of dentistry
The dental industry is currently facing challenges with communication and sales conversion. !
“The US health care industry is, by and large, completely opaque.”1 As market demands for transparency, availability, and seamless communication increase, dentistry has yet to find a simple solution to these problems. !
!
INDUSTRY PROBLEM
“40-80% of medical information provided by healthcare practitioners is forgotten immediately […and] almost half of the information that is remembered is incorrect.”2
PROBLEM (IGNORANCE)
BROKEN TREATMENT CYCLE
“Blank slate” patient returns to office, surprised by
pending treatment
Time invested educating patient/selling treatment
Patient leaves without treatment plan/sale due to
lack of understanding
6-12 months with zero dental exposures/impressions;
“ignorance is bliss”
“A lack of education leads to the spread of disease and prevents patients from seeking healthcare.”3
PROBLEM (EDUCATION)
is the solution
Personalized Photographic
Education
Individualized Communication
Health Record Transparency
Mobile Availability
is the solution
SYSTEM OUTLINE
PATIENT APPLICATION!Patient smartphone application
DENTIST ONLINE ACCESS!Web-based dentist application parallel
DENTIST APPLICATION!Administrative smartphone application;
interfaces with patient network
PATIENT ONLINE ACCESS!Web-based patient application parallel
ADOPTION BENEFITSFOR DENTISTS!- Increased treatment sales conversions and revenue - Improved communication and efficiency - Strong practice competitiveness
FOR PATIENTS!- Overall improvement of oral health through: Education, Understanding, Awareness, Control, Convenience, Efficiency, and Security
SYSTEM SPECIFICATIONS
HIPAA COMPLIANCE!Secure login with all data backed up on
proprietary encrypted database
BIG DATA ARCHITECTURE!Meets bandwidth demand for
images and health records
SECURITY!Industry standard SSL and
AES encryption
SERVER SCALABILITY!Infinitely scalable to stay
ahead of demand
BUSINESS MODELREVENUE!Dentist pays a set monthly or yearly subscription for access to entire MDC System, regardless of practice size
PRODUCT ADOPTION!All corresponding patients have unlimited access to the MDC System for FREE
MARKET SNAPSHOTMARKET SIZE!Roughly 160,000 practicing general dentists in the United States
TECHNOLOGY USAGE!80% of dentists use intra-oral photography
ADOPTION POTENTIAL!High acceptance of new technologies, regardless of dentist’s age
COMPETITION OVERVIEWIN-OFFICE!Static, in-office patient education systems and treatment compliance tools are limited to the effectiveness of single exposure consultations, stock imagery and information, and zero follow-up communication methods
OUT-OF-OFFICE!Current out-of-office exposure is limited to features like appointment reminders (via texts, emails, voice calls, and postcards) and cumbersome dental office websites
DENTAL COMPANIONAPPLICATION SYSTEM!The oral health field is currently missing on-the-go features like guided triage reporting, personalized photographs, transparent patient history, and on-screen badge reminders. MyDentalCompanion provides all of these features, plus built-in photography-based education, personalized communication, and real-time access to health records. All of these things are securely available to the dentist and patient both inside and out of the dental office
Desired Function Competitors Competition Feature Set The MDC Difference
Appointment Reminders• Lighthouse 360 • DemandForce • TeleVox • SmileReminders
• Automated appointment reminders via SMS, email, voice, and postcard
• Reminders regarding appointments, needed treatments, and insurance usage via push notification
Education • Guru • Caesey
• In-office-only education via stock photos, videos, and animations
• Personalized dental health record accessible anywhere • Stunning, personalized, intra-oral photography linked to interactive
explanations of problems, treatments needs, and outcomes • Comprehensive in-app dental glossary hyperlinked from interactive
dental health record
Treatment Presentation• iRomexis • dCStory • DDS GP
• Multimedia explanation of treatment, limited to in-office, demands dentist/staff time
• Engages patients with interactive, photographic treatment presentations allowing virtually unlimited exposure potential
Availability • DentalAnywhere • Problem reporting and self-triage based on stock imagery
• Problem reporting and self-triage based on personalized imagery • Ability to consult/interview via secure in-app messaging
Communication • DentalAnywhere • MyDentist
• Links to conventional communication methods (email, phone)
• Secure, two-way, in-app communication with multimedia capabilities • Emergency reporting and self-triage module
Mobile Access • MyDentist • DentalAnywhere • Showcases dentist and office to patients • Built for dentists and patients with unique features for each user group
COMPETITION TABLE
GO TO MARKET STEPS
Finalize product concept
Complete block diagram and database architecture
with development team
Raise seed funding Begin product development
Complete beta-test Release final product
Complete product wireframe architecture
Build functional prototype
Build market traction and implement beta-test group
Release final build and fill awaiting
pre-orders
Close Series-A funding round Prepare advertising and
marketing campaign
PROJECTED SALES
Assuming app price of $3,000/year
$150k
$500k
$1M
$1.6M
$2.4M
PROJECTED VS. MARKET
$2,400,000 per year is only 0.5% of the market
OUR TEAMTimothy Wieg D.D.S.!General Dentist, Industry Expert
Erin Stagg!Attorney, Corporate Lawyer
Josh Flory!IT Consultant, Healthcare Technology
Robert Kurtz M.P.H.!Public Health Epidemiologist, Futurist Claudio Rivero!Marketing Specialist, Operations Manager
INVESTMENT!
10% equity in MDC for $200,000 (USD)!!
These funds will be used to build the MyDentalCompanion System from the ground up and support company operations until the end of 2016
Join us in changing the future of dentistry
REFERENCES
1. Health Care Incentives Improvement Institute, 2012, http://www.hci3.org/content/transparency-metrics-transformation !2. Patients’ Memory for Medical Information, J R Soc Med. May 2003; 96(5): 219-222 !3. Unite For Sight, March 2005 (http://www.uniteforsight.org/global-health-course/module5
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