Company Profile: Medici

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Background

Tell us about how your company got started.

Clinton Phillips, the founder of 2ndMD and Medici founded Aspen Back & Body in 2005 as his real knack was an almost miraculous result with bad spines. Clint and his wife Jade’s 3rd child, Gabs, also born in Aspen, had a stroke at birth. Shocked at the difficulty in accessing a good pediatric neurologist, Clint vowed to take a much larger challenge to improve access for families. Funded by billionaires 2016, Medici set out to change the face of healthcare across the world and reestablish America as the leading innovator in healthcare, not just the leading spender.

 

Veterinary Preparation

What does the ideal client look like for you? What kinds of problems do they have?

The ideal user (provider) is looking for a greater work life balance and for the ability to work from home, on their own schedule. They are looking for innovation in their practice that will also allow them to improve relationships with their clients/pet owners.

What can veterinarians do to incorporate your technology?

All they need to do is download the app, register their profile, set their rate, set up their billing and invite their patients/clients.

How can I get started? How can I introduce using Medici to my patients/clients?

You can introduce Medici to your patients in various ways: I invite them in the app through your contact list, send us your patient list (emails and phone numbers) and we can send an invitation to join on your behalf, we can provide an email template that you can send to your patients and we can provide materials that you can print for your office/clinic.

What suggestions do you have for vets interested in telehealth but don't know where to start?

Download Medici and start introducing the service to your patients!

 

Business Model

What does the business model for the veterinarian look like?

Veterinarians can sign up, invite clients and inform them that if they aren't sure that their pet is having a problem serious enough to book an appointment or if they just want to ask a question concerning their pet's health, they can reach out to them on Medici which will save them both time and money.

When a client starts a consultation, they are able to text, send images, call or start a video chat to ensure the vet has all of the information that they need to diagnose or to make a decision. If the vet is unable to help the pet virtually and they need to go into the clinic, the vet shouldn't bill the client for that consultation. If the vet is able to help the pet or make a diagnosis virtually, the vet will bill the patient after the consult and payment will be made and they will be paid for all consults that they billed every 2 weeks. The average Medici consult fee is $30 but the vet can set their own rate.

What kinds of revenue do veterinarians tend to generate using your product?

Veterinarians can set their own consultation rate and choose whether they would prefer to pay the subscription fee ($150/month) and receive 100% of consult billed or pay 20% of each consult to Medici.

When vets use your tool, how are they charging the client? Is it part of an overall package, a one-time fee, an option to be part of a package? What have you found to be the easiest, most effective, revenue generating?

Vets will bill at the end of the consult and the funds will be immediately charged to the payment option the client has chosen to use. There is no option for a client/patient to be part of a package, they are charged for each consult, however, vets can choose to offer this service to their clients for free if they wish (they would then have to be on the subscription model as opposed to the 80/20 split). We recommend the subscription model once providers have started to use the tool with patients/clients frequently as they have the opportunity to earn more.