Medicheck

Participatory notes Belgium Tax Shelter applicable
Screen shot 2017 11 09 at 15.39.37 medium
€800,000
Pre money valuation
20.0%
Equity offered
€100,000
Already invested by crowd
€0
Committed by pros
0 days
Remaining
€80,000
Crowd target
Already 125% crowdfunded
This campaign ended on 2017-11-29

DISCLAIMER

Every investment decision must be based on an examination of an exhaustive set of information provided by the entrepreneur on his online profile. Spreds only proceeds to a limited verification of these information and does not control the investment opportunity within this company. Spreds did not verify the extent to which the business plan is deemed realistic and does not intervene with the final terms of investment, including the retained maximum valuation. Spreds will align itself with the financial terms negotiated with the co-investor(s).

Medicheck’s objective is to help companies tackle the issue of absenteeism in a constructive way. Our first successful solution is a web platform that digitalises the process of medical control in an effort to disrupt an archaic industry with an innovative and positive approach.

Some companies use medical control when employees hand in a medical certificate. It consists of having a second doctor examine the employee and confirm whether or not he or she is really sick or is capable of coming back to work.

Our goal is to disrupt the archaic market of medical control by offering a new solution to companies, the “Check”. The Check is the new generation of control, executed through a positive approach for employees and a digital process.

Our project, which was launched 4 months ago by Jean, has already proven to be profitable. We are currently working for 7 different clients (€18,000 of secured revenues). We serve Brussels and all major cities in Wallonia where our network of 40+ doctors operate Checks every day.

Problem

Companies are searching for ways to tackle the issue of absenteeism which has been booming these past few years. Medical control is one of the many tools at their disposal. But the practice today is seen as both inefficient and detrimental to employees’ trust.

For employees, controls are often perceived as intrusive and reflecting the lack of trust between them and their employers. They also experience negative experiences when doctors show up unannounced at their doors.

For the employer, the service in itself is very disappointing. It’s perceived as useless because only 5% of employees come back to work earlier than initially planned. It gives an undesired negative image and is expensive due to the inefficient intermediary processes.

Solution

Positive Approach

  • Checks are organised at the doctor’s office and are scheduled in advance with the employee to eliminate the feeling of intrusiveness.
  • They occur at two thirds of the working incapacity period in order to reevaluate the patient's condition after some time.
  • The aim of the Check is not to question the good faith of the employee nor the doctors' but to receive a new assessment of the working incapacity at a new and later date.

Digital Process

  • Our web platform allows us to provide a solution that is easy to use for companies that had to work with faxes/calls/emails in the past.
  • Our fully digital process allows us to collect data and to determine the optimal time for a Check, resulting in higher rates of early returns.
  • Our web application allows doctors to send Checks results immediately after the Checks, which implies faster feedback for companies and a more transparent overall process.
Medium platform

Major contracts

Medicheck became 100% operational in only 3 months with the founder working alone on the project. The company now counts 7 clients representing €18,000 of paid revenues, 20+ collaborating doctors and has operated 50+ Checks.

Our early adopters are companies from the service coupon and the retail sectors. The first feedbacks show that they particularly appreciate the ease of use of our service. The monthly reports that we provide also allow companies to get a global view on the efficiency of their Checks.

Medium capture

Strategy

Distribution strategy

Up to now, we have privileged a direct sales approach, both for companies and doctors. It has proven to be fast and effective. We know exactly what our conversion rates are and the efforts that need to be put in to reach our first year objectives. If each FTE sets a target of 100 calls/week, we know that it will result in having 150 doctors to cover the entire Belgium territory and €400,000 revenues generated in the next 12 months.

Main partners

We get support from our incubator Startup Factory and our corporate partner Securex.

Startup Factory specialises in the launch of new projects and startups in partnership with large corporate companies. They select entrepreneurs to run the projects and provide them with (i) a multidisciplinary team, (ii) their expertise in entrepreneurship (iii) a close follow-up to avoid pitfalls and to save time.

Securex is a sponsor & a corporate partner behind the project Medicheck. They are the second largest player on the medical control market. They realised the activity is currently done in an archaic way (in terms of image and process) and expected someone to come and disrupt this market. Realising they were probably the right players to disrupt the market, they mandated Startup Factory to launch the project Medicheck independently with the possibility and the ambition to reintegrate the startup in 2 years.

Tax logo micro enterprise

TAX SHELTER 45%

This business qualifies for the startup tax shelter. If you meet the conditions, 45% of your investment will be reducted from your personal income taxes. Read more…
This campaign ended on 2017-11-29