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OktoDok

Software for doctors and patients for the German market

Germany
Market: Medicine
Stage of the project: Prototype or product is ready

Date of last change: 29.10.2021
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Idea

Every general practitioner is using a medical software, but none of current solutions in Germany offer an adequate online booking solution or any kind of electronic communication. We will build modern software for doctors and give patients online access to their own documents. With only 1.5% of German market share, OktoDok will take in more than $1M in profit before taxes.

Our goal is to make the best software on the market, to be the most affordable provider and to become German market leader by 2027

Current Status

Prototype, initial website, pitch deck, pitch video, animation videos

Market

Large core market:
110,000 general practitioners in Germany currently pay an average annual price of $7k for medical software, making it a $770M market.

Variety of customers:
The OktoDok software will be available for patients, pharmacies, all medical specialists, psychologists, physical therapists, and laboratories, making it a multi-billion Dollar market.

Applicable worldwide:
Although no targeted research has been done, it is highly likely that this solution will be applicable to numerous markets worldwide.

Problem or Opportunity

There are various options on the market that offer basic solutions, however none of them completely digitize patient medical files or streamline the main repetitive administrative processes and they add complexity to the daily lives of doctors and administrators.
We simplify by streamlining many of these processes into single-click operations, digitizing all patient files and making it easier for doctors and patients to communicate.

Solution (product or service)

To be the leading software provider for the German medical market and the number one choice for new doctors and medical practices.

Competitors

There are various options on the market that offer basic solutions, however none of them completely digitize patient medical files or streamline the main repetitive administrative processes and they add complexity to the daily lives of doctors and administrators.
We simplify by streamlining many of these processes into single-click operations, digitizing all patient files and making it easier for doctors and patients to communicate.

Advantages or differentiators

More affordable than any other solution. 50% lower price than average, 30% lower price than the cheapest solution. The only software to deliver centralized and digitized patient medical files on German market. No current software offers online appointment scheduling or any form of electronic communication

Finance

Small market share is sufficient for high-profitability:
With just 1.5% of GP market share and an annual price of $3.5k, OktoDok will take in more than $1,000,000 in pre-tax profit.

Constant Demand:
3.6% of medical practices change owners every year with new doctors wanting modern, simple, tech-driven solutions.

Cost structure:
$2.4M needed. 77.5% human resources (software developers, marketing, sales, HR, service), 10% administration (licenses, offices, office equipment), 7.5% marketing, 5% technical equipment (data rooms, pen tests..)

Business model

Saas, Highly targeted marketing: contact data for all potential clients is available, less than 1% of market share needed for break even

Money will be spent on

Cost structure:
$2.4M needed. 77.5% human resources (software developers, marketing, sales, HR, service), 10% administration (licenses, offices, office equipment), 7.5% marketing, 5% technical equipment (data rooms, penetration tests..).

Detailed financial plan for 36 months available

Offer for investor

Open to discuss a investor-friendly solution.

Team or Management

Risks

Our current biggest risk it that the project is too centralized around the founder. Investment would help build a strong management team for the company.
Another risk is that a competitor comes to market faster with a similar product making it more difficult to gain market share as competition grows.

Photos

Photo 1 - Software for doctors and patients for the German market
Photo 2 - Software for doctors and patients for the German market

Product Video

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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