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RadButter Health

Marketplace to find and book your next radiology exam

USA, Florida
Market: Another
Stage of the project: Operating business

Date of last change: 13.09.2022
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Idea

Price-transparent marketplace to book radiology services. Patients currently have no online resources to get referrals, find pricing, find appointments, discover insurance coverage, or see ratings and reviews. RadButter solves these problems and makes getting a diagnosis simple and efficient.

Current Status

Launched version 1 in the Florida market. In 4 weeks, we have 135+ outpatient radiology clinics onboarded, with 171% average weekly growth rate and 21% market share.

Market

Our segments are physicians, patients, and radiology providers. Specifically, we are attracting outpatient radiology providers, and patients ages 25-65. Anyone who is worries about cost, is an ideal user. Physicians outside hospital networks are ideal users to refer patients as well. This includes telehealth physicians who have patients far from their existing locations. We plan to capture business from CVS Minute Clinics, ZocDoc, Teladoc, and One Medical over time.

Problem or Opportunity

Patients have no resource to find the nearest and cheapest radiology exam, further constrained by their primary care doctors referred choice of facility.

Solution (product or service)

We have telehealth referrals available, we leverage the mobile imaging industry to add onsite imaging to elderly and maternal patients. We are adding preventative cancer and heart disease screening partners. We provide a portal for appointment reminders for disease management, see your existing referrals/orders, and see results of your exams. We provide integrated booking, digitized orders and intake forms, which results in decreased administrative burden for radiology providers. Our appointment reminders decrease cancellations, while our digitized screening forms decrease delays upon arrival. Providers can improve their patient acquisition through visibility on our platform. We created a win-win environment for all stakeholders.

Competitors

Medmo, Scan.com, MDsave, Sesame, and Tripment.

Advantages or differentiators

We do not just broker patients to providers like our competitors but offer a solution that draws patients through our price transparent marketplace. Outpatient providers are able to pull volume from hospitals by creating visibility of their competitive pricing. Additionally, we offer a robust solution for reducing administrative costs for providers on our platform. For patients, we offer mobile imaging, telehealth referrals, and integrated booking. Our costs are lower and we much more options.

Finance

We charge on a fee-per-patient basis averaging $11 per exam. Additionally, for premium features we charge $99 -$149 per month depending on the plan the provider chooses.

Business model

Annual or monthly subscription for premium features + fee-per-patient booking averaging $11 per exam.

Money will be spent on

Money will be spent on our tech stack, software development, sales, marketing, and growth to onboard and expand.

Team or Management

Risks

The biggest risk we see would be if ZocDoc launched an imaging section, but we see them more likely to partner with us, rather than build out an entire infrastructure in a domain where they have no expertise.

Product Video

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Idea
Current Status
Market
Problem or Opportunity
Solution (product or service)
Competitors
Advantages or differentiators
Finance
Invested in previous rounds, $
Business model
Money will be spent on
Offer for investor
Team or Management
Mentors & Advisors
Lead investor
Risks
Incubation/Acceleration programs accomplishment
Won the competition and other awards
Invention/Patent
Product Video