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Telavita

Platform for online therapy

Brazil
Market: Medicine
Stage of the project: Operating business

Date of last change: 14.06.2020
Min investment
$  1.000.000
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Total required
$ 2.000.000
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Idea

Telavita is a Brazil-based platform for online health consultations, with a focus on mental and emotional health

Current Status

Telavita currently provides online therapy programs to health insurance providers and employers in Brazil.
Currently we manage around half a million lives across our client base, and conduct hundreds of sessions daily.
Average monthly growth rate has been 51% in 2020.

Market

Telavita started offering online therapy consultations in 2017, due to the legislative framework in Brazil. The Brazilian Federal Council of Psychology was the first to permit online consultations with psychologists, and Telavita was one of the pioneers to first offer these services. With the outbreak of Covid-19 and the associated social isolation, the Brazilian Federal Council of Medicine also permitted telemedicine consultations. Now Telavita has also started offering related telemedicine consultations, starting with telepsychiatry, and expanding into other specialities.
Telavita's main customer segments are health insurance providers interested in providing online consultations to offer better convenience to their beneficiaries and in reducing costs associated with unnecessary emergency care visits and hospitalizations, as well as employers interested in reducing their absenteeism rates and increasing productivity levels among their employees.

Problem or Opportunity

The health sector in Latin America is struggling with a number of structural issues: There is a severe lack of qualified professionals, which results in long wait times for appointments, with some procedures or treatments requiring several months of advance scheduling. Due to the lack of specialists in many regions and vast geographical distances, a large percentage of the population is required to travel for many hours for basic care, and for days for certain specialist treatments. Despite the greater number of health professionals in urban centers, factors like heavy traffic and underinvestment in modern clinic management systems result in a high number of no-shows and other procedural inefficiencies. Due to widening economic inequality and significant cost inflation over the last years private health care has become more and more unaffordable for the majority of the population, clogging up the already struggling public health system even more and resulting in abuse of emergency care resources for trivial use cases.
Specifically regarding online therapy: Brazil has the second highest occurrence of depression and the highest occurrence of anxiety disorders in the world. The economic cost of mental and emotional incapacity is R$ 200b annually, and is reflected in high absenteeism rates, low productivity rates, and high costs associated with unnecessary medical treatments and hospitalizations.

Solution (product or service)

The Telavita platform brings together patients and highly qualified health care professionals from various specialties, allowing the patients to identify the best professional to meet their needs at the time and location of their convenience. By reducing geographical barriers and costs we are able to impact the lives of many Brazilians currently underserved or unserved by the public and private health care sectors. By adding integrations with hospitals, medical labs, electronic healthcare record systems and online prescriptions, Telavita aims to become a comprehensive hub for taking one's health into one's own hands.
Specifically regarding online therapy: Telavita's preventative approach to online mental health care reduces the occurrence rates of mental and emotional incapacity for our clients, both health insurance providers and employers. By providing Telavita's online therapy services to their beneficiaries, they are able to reduce absenteeism rates, improve productivity, and reduce costs associated with unnecessary emergency care visits and hospitalizations.

Competitors

Competitors in online therapy:
Vittude, Zenklub - both focused on B2C
Psicologia Viva - unmanaged marketplace, low price therapy

Competitors in telemedicine:
Teladoc
Conexa
Doc24
Docway
Doctoralia

Advantages or differentiators

Telavita is the only platform to bridge online therapy and telemedicine with a complementary approach.

Telavita is squarely focused on providing value-based care to corporate clients, as opposed to competitors focused on B2C.

Telavita is not an unmanaged marketplace. All competitors charge monthly fees from their professionals, resulting in an incentive to register thousands of professionals, without a selection process or quality control. All professionals registered on Telavita are rigorously selected, trained, and accompanied by our clinical staff to ensure a high quality standard and a focus on patient improvement and resolution.

Finance

Telavita charges a fee per session, plus a fee per user from its corporate clients (depending on the type of contract). The session fee is passed on to the professionals attending the users, and Telavita keeps a commission, as well as the fee per user.

Business model

Telavita acquires customers with a combined inbound marketing & outbound sales approach

Money will be spent on

Hiring and expansion of development and sales teams
Expansion in Brazil
Expansion into neighboring countries in Latin America

Team or Management

Risks

The Brazilian economic environment is challenging, yet also presents a lot of opportunities.

Incubation/Acceleration programs accomplishment

Selected by Google for Startups, 2020
Selected by InovAtiva, 2019 (acceleration program from Brazilian ministry of the economy)
Selected by Quintessa, 2018 (acceleration program for high social impact startups)

Won the competition and other awards

Won Brazil at Silicon Valley Startup Battle, 2020
Selected by Cubo Itau, 2019 (Latin America's largest innovation ecosystem)
2nd place LatAm, 1st place Brazil at G-Startup Worldwide Sao Paulo, 2017

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Idea
Current Status
Market
Problem or Opportunity
Solution (product or service)
Competitors
Advantages or differentiators
Finance
Invested in previous rounds, $
Business model
Money will be spent on
Offer for investor
Team or Management
Mentors & Advisors
Lead investor
Risks
Incubation/Acceleration programs accomplishment
Won the competition and other awards
Invention/Patent
Photos
Product Video