The company has been incorporated in May 2017 and therefore does not have historical accounts.
The 5-year financial plan, developed by Vividoctor's management, is presented here below:
Main Revenue Drivers for ViViDoctor Platform are Video Consultations and Text Questions by patients.
Video Consultations: Is the main driver, where a patient can have a dedicated 1-to-1 visit with a care-giver for a specified period of time. The prices vary depending on the type of consultation (e.g teledermatology, telenutritherapy etc.)
Text Questions: The patient can pay a fee to ask a question on the platform to a doctor, and can get an answer within 24 hours. The prices vary depending on the type of question and they are typically lower priced then a regular visit.
Our marketing efforts as well as partnerships with hospitals, and insurance companies are expected to provide the flux of patients fueling these drivers. In 2017 we are projecting the numbers in the table below.
Eventually resulting revenues from the volumes above is shown in the table below. Average weighted price per consultation and text questions in the table above have been taken into account.
The main cost driver is of course the costs for the caregivers / doctors. ViViDoctor takes a mark up of typically around 25% for consultations and 35% for text questions.Other important drivers are the salaries for employees (2 business developer to fuel the hospital business, an engineer to ensure product quality and a marketing professional). Legal costs include ongoing expenses and conformity with healthcare sector regulations. General Expenses include office rental, utilities, accountancy,etc...
As the years pass by the company is expected to grow exponentially, and the cost increase forecast reflects the increase in capacity/revenues.
ViViDoctor is forecasted to set break-even by December of 2018, and the losses in the first two years will be offset by revenues after that. By March 2018 we are expecting to raise a Series A round and use the amount raised for further expansion to France, Germany and Netherlands.
ViViDoctor's most important assets are its secure and robust technology, its partnerships with prestigious hospital networks and its ever-growing bilingual provider network.
We have got 2 smart-money investors on-board, who are experienced to scale the company further. They have invested in the form of convertible loans,.
We have also been granted 50.000€ Loan from ING bank via through Knowledge Experts Consultancy SPRL + 50.000€ of line of credit. .
These are indicated in the table below
Sales turnover reflects the ambition of expanding to the new markets for 2018 and 2019. Since our model is highly scalable the costs don't increase proportionally, retaining eventual break-even in December 2018 and increased profitability afterwards.
Customer Acquisition Cost Trials have resulted in a cost indication of 3.16€
per patient acquisition, and this is used throughout the projections.
The resulting cashflow is detailed in the table below.
Break even volume
95.828 Video Visits and 205.346 Text questions in 2 years.
Break even year
1 December 2018