Are your accredited investors investing on the same terms as this Wefunder raise? Also, how long is the contract with the state of Minnesota for? Thanks

Hi Michael, thanks for your question. Yes, our accredited investors, while by virtue of the size of their investment at this stage have gotten a priced round, they are in essence getting very similar economic terms as the SAFE agreement provides to the Wefunder investors. That is due to the simplicity, flexibility which are advantages of the SAFE and the corresponding $3M valuation cap. Our provider contract with the State of MN Dept of Human Services (DHS) is for 60 months and renewable at t...

Dear Mr.Spencer, I am interested in how the patient’s information is protected? What data is Minnesota looking for for chronic disease? Will HealtheMed also apply for state or federal grants as well?

Hello Cassandra and thank you for your questions!Patient information is protected in two ways on our HIPAA compliant, cloud-based platform. First, we conduct a platform audit each year to demonstrate HIPAA compliance to any state or federal agency in an audit. Second, we write our software to be in compliance with the HITRUST (Health Information Trust Alliance) whose data privacy standards a 20 times greater than those required under HIPAA. Minnesota wants to know if Medicaid e...

Great idea. Convenient, helps cut costs. There are already established telemedicine companies in the market. What would keep them from later contracting directly with Medicaid? What if a SNBC Medicaid patient cannot pay their phone or internet bill and their hi-speed internet ...

Roger, thank you for your questions. The Medicaid competition question - two part answer: Part 1) Established telemedicine companies are contracted with hospitals and doctors clinics. Medicaid reimbursements for hospital and doctor services are 20% - 45% lower than Medicare and private insurance payments in all states. Unless or until the Medicaid pay scale improves, hospitals and doctors will not become interested in serving the Medicaid population with the HealtheMed business model. Part 2)...

What you are doing, if successful, is a potential game changer. Healthemed could grow exponentially into other states. With only half of the 77k in Minnesota you'll be at 100 mil in revenue. Im trying to find something wrong here, forgive me, because this idea and plan almost ...

Hello again Michael. Over the past thirty years 39 states have outsourced the administration of their Medicaid programs to the insurance industry. The space has been tackled! And with $619 billion spent by all states on Medicaid in 2019, there is enough money to solve many of the most basic problems faced by Medicaid beneficiaries. But these problems persist. And, as we have all learned from the COVID-19 pandemic, the consequences for our most vulnerable citizens can be deadly. Talented and d...

This is definitely a good area for digitization. I am interested to invest. Have couple of questions- 1. Who is your competitors in MN and other states? 2. if you don't get deal with MN what is the backup plan to grow? 3. Teladoc or CallingDr kind of company seems ahead of you...

Hello Mohammad. Thank you for your questions. 1) We are not aware of any platform provider in the U.S. that has a Medicaid contract like HealtheMed's Minnesota contract. 2) Our deal (contract) with Minnesota is signed. 3) Teladoc, CallingDr, MeMD, Virtuwell, Amwell and others are contracted by insurance companies and managed care organizations. Their doctors and nurses respond to healthy people who have occasional symptoms related to infections, minor accidents or exposures to hazards in thei...

HealtheMed, Inc.

HealtheMed greatly improves the lives of the sickest and poorest Medicaid patients

healthemed.net

Minneapolis, MN

Technology B2B Healthcare

Highlights

HealtheMed has a contract with the Minnesota Medicaid program targeting 77,000 potential subscribers.

Company will be paid up to $3,600 a year for each Medicaid special needs subscriber.

77,000 potential subscribers in Minnesota and a market value of $280M in annual revenue. U.S. market value of $16B.

Exclusive contract with MMCAP Infuse, who will market HealtheMed to its 12,000 institutional customers in 50 states.

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HealtheMed

HealtheMed is the perfect opportunity for Investors to do well by doing good!

HealtheMed (pronounced Health-E-Med) was founded to help the 4,000,000 people in the U.S. who live confined in their homes with chronic conditions like quadriplegia and diseases like bipolar disorder and muscular dystrophy. Treatment of people with special medical needs through the HealtheMed telemedicine platform will save state Medicaid programs an average of $1,700 a visit to a hospital emergency room. This is why the state of Minnesota was happy to award HealtheMed a B2B contract that will pay the company $10 a day for every special needs person who enrolls. The special needs market for HealtheMed services in Minnesota is $280 million each year and $16 billion in the U.S.

The HealtheMed telemedicine platform consists of a smart television, a medication dispenser, a thermometer, and other health monitoring devices placed in the home and connected to doctors through the cloud. When a medication is missed, or a person’s temperature goes up caregivers and HealtheMed are notified so that the problem can be addressed quickly. Doctors and nurses can examine their special needs patients through their smart TV or anywhere on mobile devices with cameras. The HealtheMed service is free to special needs people and their doctors, nurses, pharmacists, therapists and caregivers.

Special needs people take multiple medications every day. When they forget to take their meds or take the wrong dose, complications that result may require hospitalization. Special needs people are also the likeliest to get sick or die from exposure to viruses like COVID-19 and the Flu. The HealtheMed telemedicine platform in the home will reduce the risk of viral infection during a pandemic.

HealtheMed has a second contract with a state-run pharmaceutical purchasing group called MMCAP Infuse with 12,000 customers in all 50 states. Investor funds will be dedicated to special needs enrollments and operations in Minnesota. Once HealtheMed operations in Minnesota have passed breakeven in the first year, HealtheMed will begin marketing its services to other states through the MMCAP Infuse national sales force.

HealtheMed is currently working with accredited investors to raise $600,000 of the $1,070,000 seed round. HealtheMed will raise up to $400,000 of this seed round through the Wefunder campaign. Once $600,000 in total has been raised, HealtheMed will commence operations and fulfillment of it's B2B contract with the state of Minnesota.

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