Oben Health
High Prevalence of Preventable Deaths: Health systems face the significant challenge of addressing the high prevalence of preventable deaths due to cardiovascular disease (CVD) in black and brown communities. This issue is particularly acute among men.
Enormous Financial Burden: CVD is the leading cause of death in the United States, with 767,000 lives lost each year. The financial burden it imposes on the healthcare system exceeds $300 billion.
Health Disparities: Black adults face a 32% higher risk of death from CVD compared to other racial and ethnic groups. Widespread fears of discrimination within healthcare settings exacerbate this health disparity.
Avoidance of Preventive Screenings: The fear of discrimination leads over 31% of black adults to avoid essential preventive screenings, delaying or even foregoing critical healthcare services.
Inadequate Access to Primary Care: A concerning 44% of black adults lack adequate access to primary care, resulting in unmet healthcare needs.
We are building the clinical and technical infrastructure to facilitate the delivery of medical screenings, health coaching, and treatment in barbershops and saloons. We are starting out by focusing on cardiovascular disease management in the black community. Our approach combines a barber/community health worker (for screening and health coaching ), a clinical pharmacist (for medical treatment), and an AI-enabled platform. Patients enrolled in the Oben program enjoy the added perk of complimentary haircuts or discounted cosmetology services during each visit to these establishments. Furthermore, our platform supports team-based care, fosters care coordination, and workflow automation, and enhances population health management through data-driven analytics.
Here's how our solution creates value:
- Transforming Trusted Community Spaces into Community Health Hubs: Our approach is centered around integrating healthcare services within trusted community spaces like barbershops and salons making them accessible, familiar, and welcoming for patients.
- Value Proposition: Our multi-faceted solution offers numerous benefits to both healthcare providers and patients:
- Cardiovascular Disease Management: Our initial focus is on cardiovascular disease management in black communities, addressing a critical and underserved need.
- Medical Screenings: Barbers play a crucial role in providing essential medical screenings. Patients receive regular blood pressure checks, SDOH assessments, and other relevant screenings during their visits to the barbershop.
- Community Health Workers: Barbers also serve as trusted community health workers. They engage patients in discussions about health, and social determinants of health offering guidance on lifestyle changes, and other factors to prevent and manage cardiovascular disease.
- Clinical Pharmacist Services: The presence of a clinical pharmacist within these community spaces allows for immediate medical treatment, including medication management. Patients receive expert care on-site, reducing barriers to accessing necessary treatment.
- Incentives: Patients enrolled in the Oben program enjoy an added benefit - complimentary haircuts or discounted cosmetology services during each visit to these establishments. This incentive not only promotes regular engagement but also fosters a sense of community and well-being.
- Community Capacity Building: We empower barbers and cosmetologists nationwide by training and supporting them as community health workers. They become integral members of the clinical team, strengthening healthcare delivery within their communities.
- Tech-Enabled Care Meets Community: Our AI-enabled platform strengthens collaborations with health systems and payors, facilitating care coordination and disease management among patients, barbers, care teams, and health systems. Automation and data-driven insights enhance population health management, ultimately improving healthcare outcomes.
Oben Health is dedicated to serving a population of black individuals who are affected by hypertension and various cardiovascular morbidities, with an initial focus on Medicaid recipients dealing with social determinants of health and multiple chronic conditions. This population is currently underserved in numerous ways. Health literacy and education in these communities are often low, leading to a lack of awareness and engagement with their health until a critical event occurs. Many individuals in these communities may not have visited a primary physician or lack access to one, in part due to fear of discrimination. In fact, 26% of black adults avoid appointments with their primary care physician out of concern about unfair treatment and discrimination.
Access to care is a significant challenge, with over 44% having inadequate access to primary care. The nature of their work may prevent them from taking time off for clinic visits, and transportation issues often compound this problem. As a result, routine screenings and check-ups are frequently missed. The combination of poor preventive care and low health literacy leads to patients ending up in the emergency department with worsening conditions, resulting in high utilization rates.
Moreover, healthcare systems catering to this population often lack culturally competent staff who understand the nuances of their patients' lives and communities. This absence of cultural understanding hinders the establishment of trust and impedes the improvement of care and outcomes for this patient population.
Oben Health addresses these issues by leveraging barbershops and salons, which serve as cultural hubs in the black community. Barbershops are places of immense significance, where trust, camaraderie, and bonding are paramount. Patients in this population trust their barbers significantly, and these spaces offer a level of comfort and familiarity that conventional clinical settings cannot match.
Oben Health's approach improves access to care by bringing healthcare services to these community-based barbershops. It eliminates the need for patients to take time off from work or deal with transportation issues, as they are already present in these community spaces for their barbershop visits. This innovative solution provides culturally competent care in a setting where patients feel comfortable and confident, ultimately fostering a sense of trust. By offering preventive care in a place patients already trust, Oben Health is reshaping healthcare for underserved populations and directly impacting their lives by addressing their unique needs and challenges.
We are uniquely positioned to deliver this solution, addressing the healthcare disparities faced by marginalized communities. Our team's readiness and commitment is evident through the following key aspects:
Lived Experience: The inception of Oben Health is deeply rooted in a personal and heart-wrenching experience. The untimely loss of Peter's (our CEO) brother due to uncontrolled hypertension highlighted the dire consequences of inadequate cardiovascular care. He passed away from uncontrolled hypertension at the age of 36 in his sleep. This personal tragedy has kindled a profound drive to make a significant impact on cardiovascular health, and it forms the foundation of Oben Health's mission.
Domain Expertise: Our team boasts a wealth of domain expertise, with Dr. Temesgen Woldeyesus, the co-founder and Chief Medical Officer, at the forefront. Dr. Woldeyesus's extensive clinical experience, including roles as a faculty member at the Stanford School of Medicine, a primary care physician at Roots Community Health Center, and the Medical Director of the Cut Hypertension Program, equips him with in-depth knowledge to effectively lead Oben Health's initiatives. Additionally, the team members, Peter and Carl, bring the digital and technical skills crucial for the mission's success. Peter has over 10 years of experience working as a product manager and designer at different startups and tech companies. Carl has over 15 years of experience working as a senior software engineer at companies like Oracle.
- Community-Centered Approach: We understand the importance of being in close proximity to the communities we serve. We actively engage with these communities by conducting design sessions, user interviews, and prototyping with barbers and patients. This approach ensures that the solution is not only clinically effective but also responsive to the community's specific needs and challenges. Collaboration with our community health partner Roots Community Health Center, particularly through the Cut Hypertension program, further underscores our commitment to equitable community engagement.
- Validation and Demand: We have diligently pursued validation of our solution by engaging with patients, barbershops, healthcare providers, and payers. This comprehensive approach has garnered insights into the healthcare landscape, user needs, and feedback from key stakeholders. The fact that we have secured paid pilots highlights the clear demand for our product.
In summary, our ability to deliver our solution is rooted in our personal commitment to addressing a pressing healthcare need, supported by a team with a blend of clinical and technical expertise, and validated through extensive community engagement and pre-sales efforts. Our passion for improving cardiovascular health is driving us to prevent further preventable tragedies like the one experienced by my family.
- Using data sharing and interoperability of systems.
- Developing and refining models that use high-quality data to predict and personalize a person’s future health risks with plans to prevent or reduce these risks.
- Prototype: A venture or organization building and testing its product, service, or business model, but which is not yet serving anyone
- Business Model (e.g. product-market fit, strategy & development)
- Financial (e.g. accounting practices, pitching to investors)
Oben Health's solution stands out as highly innovative in several key ways:
Community-Centered Approach: Our approach leverages trusted community spaces like barbershops and salons as hubs for healthcare access. Unlike traditional clinical settings, telehealth/virtual settings or at-home care settings, we bring healthcare services to where people already are, reducing barriers to access. This approach recognizes the cultural significance and trust these spaces hold in black and brown communities.
Barbershop Integration : Barbershops and salons are more than just places for grooming; they are social and cultural anchors. We provide the technology to merge seamlessly with these environments, their workflows building strong relationships with barbers and clients. This integration transforms the sacred bond between clients and their barbers into a force for community health. It's a holistic approach that addresses not only clinical needs but also the social determinants of health.
- Preventative Care Emphasis: Oben Health places a strong emphasis on preventive care. Many healthcare systems focus primarily on treatment after conditions worsen. Our solution promotes early screenings and interventions, preventing conditions from progressing to a critical stage. This proactive approach can significantly improve health outcomes and reduce healthcare costs.
- Data-Driven Automation: We employ data-driven automation for complex workflows, documentation, and clinical decisions. This technology streamlines processes, enhances care coordination, and provides valuable insights for better patient management.
- Community Engagement and Trust: The trust and camaraderie within these community spaces foster an environment where patients feel comfortable and safe. Trust is a critical component of healthcare, and our solution utilizes this pre-existing trust to build strong relationships with patients, bridging a gap often seen in healthcare disparities.
- Expansion Potential: Oben Health's innovative model is scalable and has the potential to be replicated in various communities and countries. By turning cultural hubs like barbershops into community health centers, we are catalyzing a broader positive impact on underserved populations worldwide. This innovation has the power to change the market by redefining where and how healthcare services are delivered, emphasizing prevention, community engagement, and trust.
In summary, Oben Health's innovative approach reimagines the delivery of healthcare by placing community, prevention, and trust at the forefront. This innovation has the potential to not only address cardiovascular health disparities but also inspire a shift in the healthcare industry toward more community-centered, culturally sensitive, and preventive care models.
Our solution is closely aligned with and directly contributes to UN Sustainable Development Goal 3 (SDG 3) for Good Health and Well-Being. Here's how our solution addresses this goal:
Universal Health Coverage: SDG 3 aims to achieve universal health coverage, ensuring that everyone has access to quality healthcare services. Oben Health targets underserved populations, particularly black individuals affected by social determinants of health and chronic diseases. By delivering healthcare services directly in community spaces, we promote accessibility and bridge the gap for those who might otherwise lack access to primary care.
Reducing Health Disparities: Our solution tackles health disparities, a significant challenge identified by SDG 3. Black adults face a 32% higher risk of death from cardiovascular disease (CVD) compared to other racial and ethnic groups. Oben Health is committed to reducing this disparity by bringing preventive care and health education to communities where these disparities are most pronounced.
Preventive Care: SDG 3 emphasizes the importance of preventing and treating non-communicable diseases (NCDs) like cardiovascular diseases. Oben Health prioritizes prevention by offering blood pressure screenings, health coaching, and chronic disease management within community settings. By intervening early, we aim to reduce the incidence of severe CVD cases, aligning with SDG 3's objectives.
Community Engagement: SDG 3 recognizes the role of community engagement in improving health outcomes. Oben Health actively engages with patients, barbershops, healthcare providers, and payers to understand the needs of the communities we serve. This bottom-up approach ensures that our solution is meaningfully guided by community input and addresses their unique needs and agendas.
Data-Driven Healthcare: Leveraging data and technology in healthcare is essential for achieving SDG 3. Oben Health employs data-driven automation to streamline processes, enhance care coordination, and provide valuable insights. This approach promotes efficient healthcare delivery and empowers patients with information about their health status, contributing to better well-being.
Trust and Well-Being: SDG 3 recognizes the importance of trust in healthcare systems. Our solution builds trust by utilizing existing relationships within barbershops and salons. Patients feel comfortable and supported, leading to improved mental and emotional well-being.
Oben Health's commitment to reducing health disparities, increasing access to healthcare, promoting prevention, and fostering community engagement aligns closely with the objectives of UN SDG 3. We believe that our innovative approach can contribute significantly to improving the health and well-being of underserved populations, particularly those most affected by cardiovascular diseases.
Our solution leverages AI technology and utilizes various data sources to empower our platform and deliver better healthcare outcomes. Here's an overview of the AI components and underlying data that power our solution:
AI Components:
Language Model Using Vertex AI: We plan to build a language model using Vertex AI from Google. This AI model is a fundamental component of our solution, enabling natural language understanding, generation, and processing.
Culturally Competent Gen AI Content Creation: Our solution employs AI to create culturally competent educational content and nudges. Instead of relying solely on manual content creation, AI analyzes population data, demographics, and individual interests to generate personalized videos and content. This personalized approach enhances patient engagement and encourages behavior change.
Workflow Automation for Barbers: AI plays a crucial role in automating community health worker workflows and documentation for barbers and cosmetologists. In order to be reimbursed, these professionals need to document their encounters with patients, and AI, including generative models and language processing, streamlines this documentation process. By generating documents based on prompts and voice input, we reduce administrative burdens and enhance efficiency. Making it easy for barbers to become CHWs.
Pharmacist Clinical Decision Support: In the dynamic and bustling environment of barbershops, our solution harnesses AI to aid pharmacists in clinical decision-making and patient workflow management. Our goal is to minimize the time that pharmacists and advanced medical practitioners spend on administrative tasks, allowing them to focus more on patient care. By automating note-taking and documentation, we aim to enhance patient engagement. AI plays a pivotal role in swiftly crafting patient-specific order sets, guaranteeing that patients receive the precise medications and care they need for optimal health outcomes.
Remote Patient Monitoring (RPM): AI supports RPM by automating the generation of necessary documents and reports. This streamlines the process of monitoring patients' health, enabling more efficient and effective care management.
Population Health Insights: Oben Health's AI-powered population health platform is designed to facilitate care coordination, disease management, and data-driven insights. AI generates insights at a population level, providing payers and health plans with valuable data metrics to evaluate specific patient profiles within the Oben model. This enables more informed decision-making and improved patient outcomes.
Underlying Data:
The data sets that power Oben Health's AI components are both novel and proprietary. Our team creates and curates these data sets, ensuring their accuracy and relevance to our solution. These data sources include:
Content Data: Data derived from the content we create, which includes educational materials and patient engagement resources.
Clinician Order Sets: Data related to clinician order sets, which are critical for providing patients with appropriate care recommendations.
Operational Workflows: Data from the operational workflows of our solution, helping us track and optimize processes.
By owning and managing these data sets, we maintain control and ensure data quality. This approach is essential for the success of our AI-powered healthcare solution, which relies on accurate and relevant information to deliver personalized care and streamline healthcare workflows.
Our solution is closely aligned with and directly contributes to UN Sustainable Development Goal 3 (SDG 3) for Good Health and Well-Being. Here's how our solution addresses this goal:
Universal Health Coverage: SDG 3 aims to achieve universal health coverage, ensuring that everyone has access to quality healthcare services. Oben Health targets underserved populations, particularly black individuals affected by social determinants of health and chronic diseases. By delivering healthcare services directly in community spaces, we promote accessibility and bridge the gap for those who might otherwise lack access to primary care.
Reducing Health Disparities: Our solution tackles health disparities, a significant challenge identified by SDG 3. Black adults face a 32% higher risk of death from cardiovascular disease (CVD) compared to other racial and ethnic groups. Oben Health is committed to reducing this disparity by bringing preventive care and health education to communities where these disparities are most pronounced.
Preventive Care: SDG 3 emphasizes the importance of preventing and treating non-communicable diseases (NCDs) like cardiovascular diseases. Oben Health prioritizes prevention by offering blood pressure screenings, health coaching, and chronic disease management within community settings. By intervening early, we aim to reduce the incidence of severe CVD cases, aligning with SDG 3's objectives.
Community Engagement: SDG 3 recognizes the role of community engagement in improving health outcomes. Oben Health actively engages with patients, barbershops, healthcare providers, and payers to understand the needs of the communities we serve. This bottom-up approach ensures that our solution is meaningfully guided by community input and addresses their unique needs and agendas.
Data-Driven Healthcare: Leveraging data and technology in healthcare is essential for achieving SDG 3. Oben Health employs data-driven automation to streamline processes, enhance care coordination, and provide valuable insights. This approach promotes efficient healthcare delivery and empowers patients with information about their health status, contributing to better well-being.
Trust and Well-Being: SDG 3 recognizes the importance of trust in healthcare systems. Our solution builds trust by utilizing existing relationships within barbershops and salons. Patients feel comfortable and supported, leading to improved mental and emotional well-being.
Oben Health's commitment to reducing health disparities, increasing access to healthcare, promoting prevention, and fostering community engagement aligns closely with the objectives of UN SDG 3. We believe that our innovative approach can contribute significantly to improving the health and well-being of underserved populations, particularly those most affected by cardiovascular diseases.
Next Year (1-Year Impact Goals):
Pilot Success: Our immediate goal is to successfully execute and complete the ongoing pilots with health plans and clinics, ensuring that we serve at least 500-1000 patients within these pilots. This will be a critical milestone to validate our solution.
Commercial Contracts: Within the next year, we aim to secure commercial contracts with additional health plans and clinics, expanding our reach and impact. These contracts will allow us to extend our services to more communities and patients.
Engagement Metrics: We plan to improve patient engagement and adherence to healthcare regimens, aiming for a significant increase in participation rates by implementing our community-based and AI-driven patient engagement strategies.
Community Empowerment: One of our goals is to empower barbers as Community Health Workers (CHWs) in healthcare delivery. We aim to certify and train more barbers in the role, thus enhancing their impact on community health.
Next Five Years (5-Year Impact Goals):
Expanding to New Communities: Over the next five years, we intend to expand our services beyond our initial target regions and into new communities across the United States. We aim to reach underserved areas with a focus on cardiovascular health disparities.
Scaling to International Markets: Building on our success in the U.S., our long-term vision includes taking our model to other countries where barbershops and community hubs play a similar role in people's lives. We aspire to address health disparities on a global scale.
Broadening Health Services: In addition to cardiovascular health, we plan to diversify our services to address other prevalent health issues within underserved populations, such as diabetes management, preventive care, and mental health support.
Demonstrating Proven Outcomes: It's vital for us to showcase the clinical and community evidence of our solution's effectiveness. Our five-year goal is to have comprehensive data demonstrating improved health outcomes, reduced healthcare disparities, and substantial cost savings within the populations we serve.
Cultivating Barbershop Hubs: Our ultimate vision is to transform barbershops into community health hubs similar to primary care centers, providing a wide range of health services, thus ensuring that every individual in underserved zip codes has access to comprehensive healthcare.
We plan to achieve these goals through a combination of strategies, including continuous collaboration with healthcare providers, payers, and community partners. We'll also leverage our AI-driven technology to enhance patient engagement, optimize healthcare workflows, and drive better health outcomes. By combining innovation, cultural competence, and a patient-centered approach, we believe Oben Health can create a transformative impact in addressing cardiovascular health disparities over the next one and five years.
- For-profit, including B-Corp or similar models
3 full-time staff including our CEO(Peter Njongwe) who is in charge of product development, our chief medical officer and Chief technical officer
3 part-time including our lead pharmacist, a contract software/engineer, and a case manager
We've been working on the solution for about 2 years now. We've been through about 2-3 iterations before settling on this iteration of our solution. Here's what we've done:
Signed 17 barbershops. 30 barbers trained and certified as community health workers.
Have a partnership with UCSF and Stanford to train and certify barbers as healthcare coaches and community health workers
Signed 3 providers/clinics.
Signed 2 health plans(HealthNet and Alameda Alliance) and in conversation with a third plan
A projected ~500K ARR from pilots
Diversity, Equity, and Inclusivity at Oben Health:
At Oben Health, our approach to diversity, equity, and inclusivity (DEI) is an integral part of our mission and core values. We recognize the importance of DEI not only within our team but also in the communities we serve. Here's how we incorporate DEI into our work:
Diverse Leadership: Our leadership team is a testament to our commitment to diversity. We are proud to have two black individuals, including our CEO and Chief Medical Officer. Our leadership's diversity reflects our understanding of the populations we aim to serve.
Team Composition: While we have a small team, we are proud of the majority representation of minorities and women. We believe in creating an inclusive work environment where everyone's voices are heard, and diversity is celebrated.
Inclusive Hiring Practices: As we grow, we are dedicated to ensuring our hiring practices are inclusive and equitable. We actively seek candidates from diverse backgrounds and are committed to providing equal opportunities to all qualified individuals.
Community-Centered Approach: Our work is deeply rooted in addressing health disparities in underserved communities, primarily black and brown populations. We understand that cultural competence and inclusivity are key to making a meaningful impact on patient lives.
Cultural Sensitivity: We approach every aspect of our work with cultural sensitivity and respect for the diverse backgrounds of our patients and barbers. We believe in honoring the cultural significance of the barbershop within black and brown communities.
Community Engagement: We actively engage with the communities we serve to understand their unique needs, challenges, and preferences. Their input and ideas play a significant role in shaping our solution.
Continuous Learning: We are committed to ongoing education and training on DEI topics. This ensures that our team remains informed about the latest trends, best practices, and research in DEI to further inform our work.
Partner Collaboration: We seek to collaborate with partners who share our commitment to DEI. This includes healthcare providers, payers, and community organizations dedicated to reducing health disparities.
Our mission is to improve cardiovascular healthcare access and outcomes for marginalized populations. Achieving this mission is only possible by embracing diversity, promoting equity, and ensuring inclusivity in everything we do. We believe that by leading with these principles, we can create a more equitable and healthier future for all the communities we serve.
At Oben Health, our operational model is designed to deliver a meaningful impact on cardiovascular healthcare access and outcomes for marginalized populations. Here's how we are organized and how we intend to execute our solution:
Leadership Team: Our leadership team plays a pivotal role in driving our mission. It includes our CEO, Peter Njongwe, who leads partnerships, business development, and product design and management. We have a Chief Medical Officer who brings clinical expertise and assists in strategy and development. Our Chief Technology Officer (CTO) leads technology development, and we also have a part-time engineer contributing to platform development.
Strategic Partnerships: We have established key partnerships to support our solution. Our partnership with Roots Community Health Center provides us with a pharmacist and case manager who are vital in delivering clinical support. We've also partnered with UCSF to train and certify barbers as healthcare coaches. As part of our plan, we aim to make the barber training curriculum virtual, enhancing accessibility.
Engagement with Barbers: We identify barbers within the target regions and incentivize them to participate in our program through additional income from Community Health Worker (CHW) reimbursement. Barbers play a crucial role in the community and can positively impact cardiovascular health outcomes.
Collaboration with Healthcare Providers: We work closely with healthcare providers to improve patient outcomes. Our platform helps them set up Remote Patient Monitoring (RPM), tap into new revenue streams, and close gaps in care. We manage outreach, screening, and case management, allowing their staff to focus on in-clinic patient care.
Benefits for Providers:
Higher Quality Metrics: Our services result in higher HEDIS and UDS quality metrics, improving their eligibility for 330 grant funding and pay-for-performance incentives.
New Payment Models: We help providers take advantage of new payment models and benefits, increasing their revenue streams.
Increased Patient Base: By extending their services into the community, we assist in bringing in new patients to their healthcare facilities.
Profit-Sharing Model: Providers work with us with no financial risk, only upside. Our profit-sharing model ensures they receive revenue for every patient in our program.
Patient-Centered Impact and benefits for health payors:
Our operational model aims to:
Increase patient engagement, particularly in hard-to-reach and complex patient populations.
Improve cardiovascular health outcomes, reducing morbidity and mortality.
Advance health equity by addressing disparities in care.
Enhance the quality measures and metrics for both providers and payers.
Close gaps in care and expand the percentage of patients under value-based contracts/payments.
Reduce transportation costs for patients.
Achieve significant cost savings in healthcare, estimated to be over $900 million.
Our operational plan is focused on collaborative engagement with key stakeholders, leveraging strategic partnerships, and a patient-centered approach to drive impact and innovation in cardiovascular healthcare.
Part of our financial sustainability is to raise Venture capital funding and generate revenue.
Our revenue model is based on a multi-faceted approach, and we anticipate generating revenue in the range of $1,500 to $3,500 per patient per year. Here's a breakdown of how we make money:
Customer 1 - Payors (Accountable Care Organizations, Managed Care Organizations, HMOs):
We charge them a SaaS platform fee of $39 per member per month based on engagement to identify, screen, and treat eligible members.
We earn a percentage (ranging from 5% to 25%) of the savings achieved by helping close gaps in care and meeting quality metrics.
Customer 2 - Providers (Community Health Centers, Primary Care Offices, Specialty Groups):
CMS reimburses providers for the services Oben performs by extending their clinical team into barbershops.
We receive fees based on Remote Patient Monitoring (RPM) services, including setup and patient education (Code 99453 - $19.19), monitoring with blood pressure checks (Code 99454 - $63.16 every 30 days), and RPM treatment management services (Code 99457 & Code 99457 - $91.58 per month).
Additionally, we earn revenue from Chronic Care Management or Enhanced Care Management codes, ranging from $300 to $550 per patient per month.
Future Expansion:
We have the potential to expand our services to additional customer segments, including:
Direct Consumers (Patrons, Community Members, Clinic Patients)
Self-Insured Employers
Pharmacy Benefit Managers and Pharmacy Companies
In terms of the potential market size and revenue potential, here are some estimates:
Number of potential customers: 25,000 (includes total number of Managed care organizations, Accountable Care Organizations, HMOs, FQHCs, and FQHC lookalike centers).
Average contract value (ACV): $90,000
Serviceable Addressable Market (SAM): 27,000 x $90,000 = $2.43 billion
Comparable market share for other leading tech-enabled care delivery companies: 18>#/p###
Serviceable Obtainable Market (SOM): 18% of $2.43 billion = $412 million
Our current operating costs amount to approximately $28,000 per month, covering expenses related to human capital, which includes developers, case managers, and other essential team members, as well as the tools necessary for our operations. It's important to note that our team has made significant personal financial sacrifices by taking pay cuts to drive this project forward.
As we look ahead to the next year, we anticipate that our operating costs will increase as we launch pilot projects and continue to expand our initiatives. We expect this cost to approximately double, reaching about $47,000 per month.
Furthermore, in the late spring and summer, as we move forward with the execution of the second of our three paid pilots, our projected operating costs are likely to increase to around $70,000 per month.
Here's a link to a forward-looking financial model. This financial model is essential for our sustainability and achieving our mission of improving cardiovascular healthcare access and outcomes for marginalized populations. We are actively managing our finances to ensure that we have the resources needed to make a meaningful impact.https://docs.google.com/spread...
We are seeking funding in the range of $75,000 to $100,000 to continue our work in 2024. This amount was carefully selected to ensure that we have the necessary resources to achieve our goals. The funding will play a crucial role in several aspects of our work, including:
Platform Development: We need to further build out our platform to ensure it is robust, scalable, and equipped with the necessary features for delivering healthcare services in barbershops and salons.
Human Capital: The funding will be allocated to cover the costs associated with our human capital, including developers, case managers, and other team members who are instrumental in the success of our initiatives.
EMR Integration: Integration into Electronic Medical Records (EMR) resources is a critical component of our platform. The funding will support the development and implementation of this integration, allowing for seamless data sharing and coordination of care.
Pilot Project: We plan to execute a pilot project in 2024. The funding will provide the necessary resources to successfully complete this pilot. This pilot is instrumental in demonstrating the clinical evidence of the impact of our solution, which is a crucial step in our mission to improve cardiovascular healthcare access and outcomes for marginalized populations.
By securing this funding, we can ensure that we have the means to continue our work, achieve our objectives, and make a positive impact in the communities we serve.
The Cure Residency opportunity holds the potential to significantly support our work at Oben Health in several valuable ways:
Seed Funding: The financial support provided by the Cure Residency will be instrumental in helping us further develop and expand our platform. It will allow us to continue building the technology, hiring the right talent, and executing pilot projects that demonstrate the impact of our solution. This seed funding is crucial for our growth and ability to make a tangible difference in cardiovascular healthcare access and outcomes.
Mentorship: Mentorship is an invaluable component of the Cure Residency. It provides us with the opportunity to learn from experienced individuals who can guide us through the complexities of the healthcare and technology industries. With mentorship, we can refine our strategy, identify potential pitfalls, and make more informed decisions that will ultimately benefit the communities we serve.
Lab Space: Access to lab space is a practical advantage that will support our technological development. Having a dedicated space for research and development is essential for creating a robust and scalable platform. It ensures that we have the necessary infrastructure to continue building and improving our solution.
Educational Programming: The educational programming offered by the Cure Residency is a valuable resource for our team. It provides opportunities to learn about the latest developments in healthcare, technology, and entrepreneurship. These insights will enhance our knowledge and skills, enabling us to make more informed decisions and drive our mission forward.
Networking Opportunities: Networking is a vital aspect of any startup's success. The Cure Residency will connect us with a network of professionals, investors, and fellow entrepreneurs in the healthcare and tech sectors. This network can open doors to potential partnerships, collaborations, and opportunities for growth.
Among these aspects, we are particularly excited about the mentorship opportunities provided by the Cure Residency. Learning from experienced individuals who understand the challenges and intricacies of our mission will be incredibly valuable. Their guidance can help us navigate obstacles, refine our strategies, and accelerate our progress in improving cardiovascular healthcare access and outcomes for marginalized populations.