Q: When did the company start?
A: We were a semifinalist in the Wharton Business Plan Competition and got into the Wharton Venture Initiation Program. That led to acceptance into DreamIt Ventures' boot camp last summer when we ramped up.
Q: How's the biz model work?
A: Our website is free for patients, and we want to empower them with better information. We charge a fee to a hospital or health-care system on a . . . per-patient-per-month basis. It can change if we also provide an online-appointment feature or second-opinion feature. The fee can range from $1,500 to $8,000 depending on the condition and other factors.
Q: What's the value proposition?
A: There are 25 million patients in the U.S. with rare diseases, and they're attractive for hospitals for clinical trials, reputation and federal research money. The average reimbursement fee can also be higher for treating such patients.
Q: Who are your customers?
A: We have a major academic medical institution in the Philadelphia area we're currently working with and a pipeline of other hospitals. We hope to close those deals in the near future.
Q: What's been the biggest challenge growing the biz?
A: We have good data, and the key challenge is where to focus. We're focused on linking patients and doctors. The other issue is to display data in a way that leads to actionable results.
Q: Who's the competition, and what differentiates you?
A: Websites like Vitals and Healthgrades don't focus on the granular information. We can determine what specialist knows most about a specific disease. We are the only ones focused on rare diseases, mainly in cancer, pediatrics and metabolic disorders.
Q: How big a biz is this?
A: If we can close deals with three to five health-care systems, we'll be at $100,000 to $200,000 in annual revenue.
Q: How many employees?
A: Four full-time and one part-time.