Download - Aja Health Engr245 2017
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Reducing
Unnecessary
Surgeries
Increasing
PT Patient
Attendance112 Interviews
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Aja Health
MS Data Science, MBA MBA, MA BS, MS Computer Science MS Electrical Engineering, MBA Founder Original3 Inc
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Our end customer was insurers. We assumed that buy in from patients and physical therapists were means to that end
Adherence
=
Outcomes
25%
Surgery Reduction
Custom Hardware
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Throughout Lean Launchpad we have made a number of pivots towards our final position
1 2 873 4 65 9
15 27 44 58 68 78 88 104 112
Athlete Pivot
Clinic Pivot
Text Message
MVP
Platform Pivot
Works Comp
Clinic
Text Messages
Interview Count
“Aja has left the building”
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Channels• Insurers : Direct sales
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Robert Pearl – CEO Permanente Group
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Throughout Lean Launchpad we have made a number of pivots towards our final position
1 2 873 4 65 9
15 27 44 58 68 78 88 104 112
Clinic Pivot
Text Message
MVP
Platform Pivot
Works Comp
Clinic
Text Messages
Interview Count
Athlete Pivot
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After limited interaction with insurance companies we pivoted to PT for athletes
Insurers
• Lack of statistical evidence
Athletes
• Regularly need PT and are
motivated
• Lie about recovery to re-enter play
faster
• Want quantitative measures of
progress
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Dr. Joel Press – Medical Director of Rehab Institute of Chicago
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Throughout Lean Launchpad we have made a number of pivots towards our final position
1 2 873 4 65 9
15 27 44 58 68 78 88 104 112
Clinic Pivot
Text Message
MVP
Platform Pivot
Works Comp
Clinic
Text Messages
Interview Count
Athlete Pivot
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We found that PT clinics are very insterested in increasing adherce, something AJA health specializes in
Athletes
• Want progress data from at home
exercises
• Athletes meet with their trainers daily
Clinics
• Interested in differenating themselves
• Incentives aligned with patient outcomes
• Reponse rates were >75%
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Throughout Lean Launchpad we have made a number of pivots towards our final position
1 2 873 4 65 9
15 27 44 58 68 78 88 104 112
Clinic Pivot
Platform Pivot
Works Comp
Clinic
Text Messages
Interview Count
Athlete Pivot
Text Message
MVP
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Clinics owners showed immediate interest in
our text messaging solution
o Immediate Testing: Utilizing a text
message service and manual data roll ups
and manual message sending
o Foot in the door: The MVP provides us
with access to those at clinics who have
purchasing power
o Free for patients: A free MVP allows us to
test adherence hypothesis isolated from
cost
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Throughout Lean Launchpad we have made a number of pivots towards our final position
1 2 873 4 65 9
15 27 44 58 68 78 88 104 112
Clinic Pivot
Platform Pivot Clinic
Text Messages
Interview Count
Athlete Pivot
Text Message
MVP
Dot Demo
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With the success of the text messaging Aja Health became a platform
Passive tracking device that provides
quantitative measures of adherence
Low cost solution proven to increase patient
engagement and appointment attendence
Clinic, physican, and patient level metrics that
differentiate skill and predict aherence and
outcomes
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Using MVP contacts we were able to demo the Recovery Dot hardware and gauge interest levels
Patients preferred the Recovery Dot due to its “hands-off” nature – provided it was covered by insurance
Clinic owners and therapists responded positively, but preferred the text message solution for its immediate value
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Throughout Lean Launchpad we have made a number of pivots towards our final position
1 2 873 4 65 9
15 27 44 58 68 78 88 104 112
Clinic Pivot
Platform Pivot
Interview Count
Athlete Pivot
Text Message
MVP
Dot Demo
Workers
Comp
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“You guys are missing the forest through the trees” -Dr. Lehman
Worker Comp Market
• 45.5 B Market
• Strong interest in adherence
• Value straight to bottom line for insurers
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John Cole – Cincinnati Insurance
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We forgot week 1’s lesson
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Throughout Lean Launchpad we have made a number of pivots towards our final position
1 2 873 4 65 9
15 27 44 58 68 78 88 104 112
Clinic Pivot
Platform Pivot
Interview Count
Athlete Pivot
Text Message
MVP
Dot Demo
Works Comp
Clinic
Text Messages
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Dynamic messaging engages
patients and increases their
adherence and enagement
Utilizing the familar SMS platform
there is no learning curveOur solution provides visibility into
which patients are adhering to their
prescribed regime
Automic roll ups of patients
adherence allows therapists to know
where their patients are on the road
to recovery
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Updated and accurate information based on interviews
$6M
.
Annual
Net Profit
22K
Monthly Clinic
Revenue
Increase
$2
Monthly Cost
Per Patient
Per Clinic
600
Clinics
Serviced
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Assumptions we made and gaps that we filled in by getting out of the building
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Updated and accurate information based on interviews
TAM: 3B
SAM: 660M
Initial Income
•Year 1: 495K
•Year 2: 990K
•Year 3: 3M
• TAM data generated from intereviews with
Performance Health
• SAM is based off our finanical model pricing text
message services at $2 / patient / month
• Average 550 patients / clinic / month
• Sales Projections – Clinic Totals
• Year 1 – 75
• Year 2 – 150
• Year 3 – 450
• Conservative margins 50%+
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Customer acquisition and retention plan and relevent metrics for Aja Health
Get
Keep
Grow• Clinic lifetime of 5 years with 250 annual patients
• Up-sell patients on in-app purchases
• Sell more devices that feed into platform
• Database of compliance for individual PTs
• App personalization for individual clinics
• Analytics for best interventions
• Sales are at the clinic level
• Foot in the door with text messaging
• Value of product must be signed off by therapists
CAC: 2.3k
Churn: 3%
LTV: 75k
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An illustration of our learning throughout Lean Launchpad
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