SurgiQuality helps patients connect to best outcomes surgeons.
Surgeons are scored through generative AI analysis of past surgical records. Opinions and scoring empower patients.
Current Status
Market Ready, Applications available
UPMC surgeons onboarding and sharing data November 2024. Mayo Clinic and NYU Langone with deep interest.
UPMC Health Plan (4.5M members) will start using service in October 2024.
Prior funding $6M+
4FTEs
Utility Patent: AI use on surgical case records to score outcomes.
Market
•Direct Sales to
•Self Insured Employers •Major HMO - Health Plans •Trade Unions
•Resellers
•Health Plan Consultants •Benefits Consultants •Insurance Brokers
Problem or Opportunity
Patients referred to surgeons, based on habit not cost or quality info.
As a result:
Patients have unnecessary surgery (15-30% of time costing $210B).
Patients have surgery from poor outcomes surgeons. ( Estimated cost $300B)
Patients never learn of alternatives to surgery to manage their condition.
Solution (product or service)
SurgiQuality helps patients obtain multiple opinions and uses GenAI to connect them to best outcomes surgeons.
Personalized concierge uploads medical records for multiple opinions.
Surgeons share past surgical records to boost personal profile.
GenAI used to score outcomes for individual surgeons.
Patients are empowered with tools to compare surgeons and make well informed decisions.
Lower costs of surgical care. Savings of $500- $1000 per member per year.
70% + ROI on employer/ health plan spend.
Competitors
Transcarent Employer Direct Healthcare Carrum Health Quantum Health
Advantages or differentiators
Competitors use Medicare and claims databases to determine outcomes, however these are very generalized and difficult for patients to grasp. SurgiQuality uses generative AI on surgeons past surgical records, allowing for very granular outcomes measures down to the procedure level. We are synergistic with nay competitors solutions.
Finance
Per Surgery $500-2500/surgery processed (on app consultation) $60M- 125M/ year Average value per health plan (AVPC) Margin – 60-80% CAC - $200-300K and will reduce once 3-4 account are on. LTV - $180-375M (3 yrs) Professional Services – not included, but billable.
Invested in previous rounds, $
Business model
Per Surgery
$500-2500/surgery processed (on app consultation)
Margin – 60-80%
$60M- 125M/ year Average value per health plan (AVPC)
CAC - $200-300K and will reduce once 3-4 account are on.
LTV - $180-375M (3 yrs)
Professional Services – not included, but billable.