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SurgiQuality

GenAI to connect patients to best outcomes surgeons.

USA, Maryland
Market: Internet and IT, Medicine, Other, Artificial Intelligence
Stage of the project: Operating business

Date of last change: 25.10.2024
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Idea

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.

Money will be spent on

•Finance Major Customer Deployment

•Continue Product Development

•Sales and Account management

•International Patents Filings

Projected Outcome
•Product – On-going
•Revenue - $4m+
•Patents – International
•Users - 500K+
•Health Plans – 2+
•Employers – 4+
•Benefits Partners – 3
•Team - + 3-4
•Certifications – HITRUST r2

Offer for investor

Convertible Note, Valuation cap Pre, $25M

Team or Management

Mentors & Advisors

Lead investor

Risks

Incubation/Acceleration programs accomplishment

Won the competition and other awards

1st place at PitchForce
1st place at Unicorn Startup Pitch competition, Silicon Valley

Featured on CNN and CBS Eye on Health

Invention/Patent

Utility patent –use of AI to score surgeons for outcomes based on past surgical records

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
Product Video
Presentation