{"data":{"type":"company_profile","id":52461,"entity_id":"wefunder:company:52461","attributes":{"canonical_url":"https://wefunder.com/healthemedVIP","generated_at":"2026-06-16T17:45:13Z","updated_at":"2026-06-16T05:02:20Z","entity_ids":{"company":"wefunder:company:52461","slug":"wefunder:company_slug:healthemedVIP"},"profile_visibility":{"owner_published":true,"public_search_results":true,"site_search_listed":false,"privacy_mode":"unlisted","invite_only":false},"provenance":{"source":"wefunder_public_company_profile","as_of":"2026-06-16T17:45:13Z","claims":{"total_amount_raised":{"source":"FrontCompanySummary#amount_raised","last_verified_at":"2026-06-16T05:02:20Z","as_of":"2026-06-16T17:45:13Z","confidence":"high"},"total_investors":{"source":"FrontCompanySummary#number_of_investors","last_verified_at":"2026-06-16T05:02:20Z","as_of":"2026-06-16T17:45:13Z","confidence":"high"},"active_raise_states":{"source":"Fundraise.visible(nil, nil)","last_verified_at":"2025-04-03T19:39:43Z","as_of":"2026-06-16T17:45:13Z","confidence":"high"},"latest_fundraise_state":{"source":"Fundraise.visible(nil, nil).order(funding_started_at)","last_verified_at":"2025-04-03T19:39:43Z","as_of":"2026-06-16T17:45:13Z","confidence":"medium"}}},"company":{"id":52461,"entity_id":"wefunder:company:52461","slug":"healthemedVIP","name":"HealtheMed, Inc.","tagline":"HealtheMed greatly improves the lives of the sickest and poorest Medicaid patients.","elevator_pitch":"We make it possible for people with chronic conditions and diseases to see their doctor and receive treatment through the HealtheMed telemedicine platform installed in their home. We focus on the most vulnerable segment of Medicaid populations, special needs patients. 4,000,000 special needs people in the U.S. live confined in their homes with chronic conditions like quadriplegia and diseases like bipolar disorder and muscular dystrophy.","story":"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.","location":"Minneapolis, MN","website":"https://www.healthemed.net","total_amount_raised":82578,"total_investors":95,"is_funded":true,"is_active":true,"quality_score":1,"related_urls":["https://wefunder.com/healthemedVIP","https://www.healthemed.net"]},"media":{"share_image_url":"https://uploads.wefunder.com/uploads/company/header_media_photo/52461/xxl_cropped_HealthEMed_logo_jpg__2_.jpg","logo_url":"https://uploads.wefunder.com/uploads/company/logo/52461/large_cropped_HealthEMed_logo_jpg__2_.jpg","header_media_url":"https://uploads.wefunder.com/uploads/company/header_media_photo/52461/standard_cropped_HealthEMed_logo_jpg__2_.jpg","cover_photo_url":"https://uploads.wefunder.com/uploads/company/header_media_photo/52461/standard_cropped_HealthEMed_logo_jpg__2_.jpg"},"links":{"company_url":"https://www.healthemed.net"},"highlights":[],"quick_facts":[{"index":1,"claim_id":"claim-fact-1","value":"HealtheMed has a contract with the Minnesota Medicaid program targeting 77,000 potential subscribers."},{"index":2,"claim_id":"claim-fact-2","value":"Company will be paid up to $3,600 a year for each Medicaid special needs subscriber."},{"index":3,"claim_id":"claim-fact-3","value":"77,000 potential subscribers in Minnesota and a market value of $280M in annual revenue. U.S. market value of $16B."},{"index":4,"claim_id":"claim-fact-4","value":"Exclusive contract with MMCAP Infuse, who will market HealtheMed to its 12,000 institutional customers in 50 states."},{"index":5,"claim_id":"claim-fact-5","value":"Provide PERS and remote patient monitoring services to assist this population stabilize their health and avoid Covid-19."},{"index":6,"claim_id":"claim-fact-6","value":"Medicaid enrollees with chronic diseases are the most likely to die from exposure to COVID-19. We help avoid this."},{"index":7,"claim_id":"claim-fact-7","value":"Initial pilot program resulted in medication adherence increasing from 43% to 92%."}],"team":[{"id":808691,"entity_id":"wefunder:company_role:808691","user_entity_id":"wefunder:user:938393","role":"founder","name":"Thomas Spencer","title":"President and CEO","bio":"Mr. Spencer has 30 years of health care innovation experience in companies like United Healthcare. In 2016 he developed the first telemedicine wound clinic in the U.S. with reimbursement approved by Medicare and Medicaid.","avatar_url":"https://uploads.wefunder.com/uploads/company_role/custom_photo/808691/square_cropped_Tom_S.jpg?1598370370","profile_url":"https://wefunder.com/thomasspencer","linkedin_url":"https://www.linkedin.com/in/thomas-spencer-7963071b2/","related_urls":["https://wefunder.com/thomasspencer"]},{"id":808682,"entity_id":"wefunder:company_role:808682","user_entity_id":"wefunder:user:325014","role":"founder","name":"Robert Arnold","title":"COO","bio":"Mr. Arnold has 15 years of healthcare experience working with startups and fast growing companies. He has founded two SaaS technology companies with a 5x and 3x return for investors.","avatar_url":"https://uploads.wefunder.com/uploads/company_role/custom_photo/808682/square_cropped_Arnold_Headshot.jpg?1596819200","profile_url":"https://wefunder.com/robertarnold3","linkedin_url":"https://www.linkedin.com/in/robertjamesarnold/","related_urls":["https://wefunder.com/robertarnold3"]},{"id":808692,"entity_id":"wefunder:company_role:808692","user_entity_id":"wefunder:user:324488","role":"founder","name":"Ron Mandelbaum","title":"CRO","bio":"Mr. Mandelbaum has over 30 years of strategic business development experience. Since 2008 his focus has been on the development of senior living communities and specifically the deployment of Aging in place digital Health Technologies.","avatar_url":"https://uploads.wefunder.com/uploads/company_role/custom_photo/808692/square_cropped_Ron_-_Photo_2.jpg?1607359292","profile_url":"https://wefunder.com/ronmandelbaum","linkedin_url":"https://www.linkedin.com/in/ronmandelbaum/","related_urls":["https://wefunder.com/ronmandelbaum"]}],"featured_investors":[{"id":5143,"entity_id":"wefunder:company_investor_profile:5143","investor_profile_id":576522,"investor_profile_entity_id":"wefunder:investor_profile:576522","subject_entity_id":"wefunder:user:1033431","name":"Kurt Read","avatar_url":"http://uploads.wefunder.com/uploads/user/avatar/1033431/medium_cropped_KCR.jpg","profile_url":"https://wefunder.com/kurtread","investment_total":110000,"investment_info":"Invested $10,000 this round \u0026 $100,000 previously","is_lead_investor":true,"related_urls":["https://wefunder.com/kurtread"]}],"investor_memos":[],"tab_counts":{"posts":4,"ask_questions":23,"featured_investors":1,"faq_entries":5},"active_fundraises":[{"id":29082,"entity_id":"wefunder:fundraise:29082","state":"successful","offering_type":"4(a)(6)","funding_type":"note","structure":"safe","security_type":"equity","currency":"USD","testing_the_waters":false,"min_purchase":100,"max_purchase":9,"funding_target":50000.0,"funding_started_at":"2020-08-14T17:09:00Z","funding_closed_at":"2020-12-16T05:02:29Z","auto_close_at":"2020-12-16T04:59:59Z"}],"latest_fundraise":{"id":29082,"entity_id":"wefunder:fundraise:29082","state":"successful","offering_type":"4(a)(6)","structure":"safe","testing_the_waters":false,"can_invest_now":false,"funding_started_at":"2020-08-14T17:09:00Z","funding_closed_at":"2020-12-16T05:02:29Z","terms":{"eb":null,"nb":"$3M","txt":"valuation cap"}},"recent_posts":[{"id":139554,"entity_id":"wefunder:feed_item:139554","type":"FeedItem::Update","visibility":"public","title":"The \"Doctor is coming back to the House\" and Wefunder Campaign Closing Tonight!","preview":"Big Milestone! Our first installed clients will be having their first virtual tele-visits with a doctor next week for beginning the process of \"Medication Therapy Management\" (MTM). This will be a gamechanger for these participants in bringing their care home!Our public Wefunder campaign will be closing tonight at 12:00 midnight EST. We so appreciate all of the great questions and positive feedback and momentum surrounding HealtheMed. Several new client installations are happening every week ...","published_at":"2020-12-04T00:45:20Z","author_name":"Robert Arnold","url":"/feed/139554","canonical_url":"https://wefunder.com/feed/139554"},{"id":137520,"entity_id":"wefunder:feed_item:137520","type":"FeedItem::Update","visibility":"public","title":"More Great News for Wefunder Investors in HealtheMed! We received another $250k investment of seed round capital and we have started installing new cl","preview":"A few weeks ago we were fortunate to welcome another small group of angels/VC into the HealtheMed investor family. And they come with decades of healthcare experience.After only nine weeks of actual operations we began this week\u0026nbsp;installing new clients onto the HealtheMed system across three different counties in MN. Several more pending installations for this coming week and the pipeline is building. We've been overwhelmed with the positive energy and warm response from our county case m...","published_at":"2020-11-22T21:37:37Z","author_name":"Robert Arnold","url":"/feed/137520","canonical_url":"https://wefunder.com/feed/137520"},{"id":136834,"entity_id":"wefunder:feed_item:136834","type":"FeedItem::Update","visibility":"public","title":"HealtheMed has Launched!","preview":"Upon receiving additional\u0026nbsp;investment of seed capital to complete it's initial round, HealtheMed has officially launched operations this week! It's\u0026nbsp;on track to begin deploying its platform in the homes of the most vulnerable Medicaid recipients in Q4.Stay tuned for more exciting updates...","published_at":"2020-09-18T19:02:45Z","author_name":"Robert Arnold","url":"/feed/136834","canonical_url":"https://wefunder.com/feed/136834"},{"id":133814,"entity_id":"wefunder:feed_item:133814","type":"FeedItem::Update","visibility":"public","title":"Great News for Wefunder Investors! HealtheMed just received a $300k investment of seed round capital for equity...","preview":"This accredited and seasoned investor in the real estate REIT industry appreciated the data-driven and disruptive\u0026nbsp;system of care we've assembled and felt HealtheMed is a timely market opportunity and a complement to his other venture capital investments.\u0026nbsp;Stay tuned for more timely updates!","published_at":"2020-08-19T04:41:22Z","author_name":"Robert Arnold","url":"/feed/133814","canonical_url":"https://wefunder.com/feed/133814"}],"q_and_a":[{"id":168577,"entity_id":"wefunder:comment:168577","question":"How are things going?","author_name":"James Brooks","votes":1,"created_at":"2021-09-08T20:52:26Z","canonical_url":"https://wefunder.com/healthemedVIP#question-168577","answers":[]},{"id":117236,"entity_id":"wefunder:comment:117236","question":"Hello, Thank you for your response below. I do have one more question if you don't mind, well really two. 1.) How much does it cost Healthemed to get 1 person set up to use your software?? Total cost should included installation costs, TV, the hub, etc. 2.) What are your monthly costs for 1 person in month 2 and after, after they are initially set up?? Thank you!","author_name":"Curt Bromm","votes":1,"created_at":"2020-12-03T15:13:26Z","canonical_url":"https://wefunder.com/healthemedVIP#question-117236","answers":[{"id":117318,"entity_id":"wefunder:comment:117318","answer":"Hi Curt, thanks for you questions. I believe you are addressing a COGS component and we have budgeted $1200 for the entire technology stack...equipment procurement, configuration, bundling, shipping/handling, installation and support. We are approved for and reimbursed by MN State Medicaid for $5475 for the year and will be growing that to over $6000. Costs through volume and efficiencies will go down over time and projected margins are in the 45%-50% range typical of a PaaS model. Hope that helps. Our public Wefunder campaign is closing tonight at 12midnight EST and we be honored if you'd join our family of investors. Thank you again for your interest in HealtheMed.","author_name":"Robert Arnold","votes":0,"created_at":"2020-12-04T00:36:16Z"}]},{"id":117057,"entity_id":"wefunder:comment:117057","question":"Hi.. Has the closing date been extended?","author_name":"Alex See","votes":1,"created_at":"2020-12-02T22:11:09Z","canonical_url":"https://wefunder.com/healthemedVIP#question-117057","answers":[{"id":117069,"entity_id":"wefunder:comment:117069","answer":"Wefunder corporate informed us the closing date of the public campaign will be end of day tomorrow Thursday 3 Dec. We have provided them financials they requested from our accounting firm and designated a lead investor which were their two final requirements. Then the campaign closes and they file the official amendment with the SEC which can take up to 5 days to be filed and then that completes the process. As far as new investors or additional investment from current Wefunder investors, yes, it closes tomorrow. Thank you for your investment and vote of confidence. We are installing new clients everyday and got claim submission confirmation from Medicaid so the business operations are going very well. Still time to tell your friends and family about us. We can take up to $107k in this type of round so still some room left! Best to you Yip and welcome to the HealtheMed family.","author_name":"Robert Arnold","votes":1,"created_at":"2020-12-02T22:54:26Z"}]},{"id":115893,"entity_id":"wefunder:comment:115893","question":"Hello Healthemed Team, I really like this company and am considering an investment but can't help to be a little nervous about the little traction that the raise has gained on the Wefunder platform. I know that you have mentioned getting money for the seed round outside of Wefunder. Can you share what the total round you are raising both on Wefunder and outside of it?? How much have you raised so far? What are the terms for the raise that is outside of Wefunder??","author_name":"Curt Bromm","votes":1,"created_at":"2020-11-24T19:05:06Z","canonical_url":"https://wefunder.com/healthemedVIP#question-115893","answers":[{"id":115901,"entity_id":"wefunder:comment:115901","answer":"Good question Curt. This being a disruptive B2B healthcare innovation we understood that it would not be as easily understood on the Wefunder platform as more simple B2C campaigns. That said the questions from investors have been excellent and those that \"get it\" really are excited. We have raised over the last 2-3 months $650k from Angel/VC accredited investors. This Wefunder campaign closes in a little over a week and will get us to well over $700k which is ample to meet our projections. Especially since as you see from our last update we have confirmed about 30% higher revenue from State Medicaid reimbursement than what was originally and conservatively projected. We are provisioning new orders daily now and the Counties are really excited and most importantly the benefit to these underserved clients will be transformative. Hope that sheds some insight. Come in and join us Curt, we'd be honored to welcome you to the HealtheMed family.","author_name":"Robert Arnold","votes":0,"created_at":"2020-11-24T21:16:51Z"}]},{"id":109152,"entity_id":"wefunder:comment:109152","question":"Robert/Thomas, Congrats on starting operations. I know you are busy with that but I do have another question if you could answer please...what is to stop the states themselves from just doing what you are doing amd keeping the money for themselves? Thank you","author_name":"Michael Perkovich","votes":1,"created_at":"2020-10-05T16:25:37Z","canonical_url":"https://wefunder.com/healthemedVIP#question-109152","answers":[{"id":109260,"entity_id":"wefunder:comment:109260","answer":"That's a good question Michael. The States themselves do not directly provide healthcare for this population. Each State has the Medicaid funds flowing through its respective DHS (Dept. of Human Services) which in terms channels it to the participants in need via their County. Credentialed providers who have a State contract with DHS to provide services in their awarded categories are relied upon to provide the care needed. Thanks Michael.","author_name":"Robert Arnold","votes":0,"created_at":"2020-10-06T19:41:04Z"}]},{"id":108713,"entity_id":"wefunder:comment:108713","question":"Hi Robert \u0026amp; Tom, Can you please respond to my questions. Thanks Saad","author_name":"Saad Abbasi","votes":1,"created_at":"2020-10-02T00:06:02Z","canonical_url":"https://wefunder.com/healthemedVIP#question-108713","answers":[]},{"id":108581,"entity_id":"wefunder:comment:108581","question":"Hello, I have two questions: 1. What stops a patient, or their family from steeling medication from the hub? Are you concerned with tempering? 2. Do you have active users? Was there a trial run?","author_name":"Alena Yevdokimova","votes":1,"created_at":"2020-10-01T02:11:40Z","canonical_url":"https://wefunder.com/healthemedVIP#question-108581","answers":[{"id":109263,"entity_id":"wefunder:comment:109263","answer":"Great question Alena, the medication dispensing device is prepared for this as it's locked and connected to the Cloud. Any tampering based on motion or through forcibly trying to enter the machine will send an alert through our system to the care team. We had several users on a prior pilot as proof of concept and we drove medication adherence from about 45% to over 90%!","author_name":"Robert Arnold","votes":0,"created_at":"2020-10-06T19:49:00Z"}]},{"id":108459,"entity_id":"wefunder:comment:108459","question":"Hi Robert and Thomas, I like the whole concept however have few questions, can you please respond to these: 1- My main concern for the company is regarding Cash, do you need to pay for all the set up cost before claiming it from the authorities? 2- If the answer of above question is yes than can you please let us know how much initial cash the company required in order to run the business and acquire thousands customers? 3 - I read in one of the updates that you have received $300k as investment from VC, can you please let us know the name of VC, it will increase credibility of the business's vision. 4- How much are you planning to raise in next round, when will that occur and what will the projected valuation of the company at that time? I know this is such a subjective question however I just need to some idea. 5 - Have you thought of partnering with any Big Pharma electric company who can invest in the business if we use their instruments? Based on the contract value which the company have with Minnesota counties, I think the valuation is very low. I have invested in few Telemedic company at PreSeed and Seed level and their valuation were 3-5 times more than HealtheMed. The only major difference I see is that HealtheMed is kind of capital intense as compare to them. However, I think your product is more of a eco system than just a service. Can you please respond to my question at your convenience. Thanks Saad","author_name":"Saad Abbasi","votes":1,"created_at":"2020-09-30T18:29:44Z","canonical_url":"https://wefunder.com/healthemedVIP#question-108459","answers":[{"id":108706,"entity_id":"wefunder:comment:108706","answer":"Hello Saad. Thank you for the very thoughtful questions. As you may know, we are operating the company now and I won't have time to respond to your questions in sufficient detail before this weekend. If you are still interested in hearing from me let me know. All the best,Tom","author_name":"Thomas Spencer","votes":0,"created_at":"2020-10-01T22:28:43Z"}]},{"id":107871,"entity_id":"wefunder:comment:107871","question":"I'm surprised your campaign here hasn't had a lot of traction, specially after being rated a Deal To Watch by Kingscrowd. Have you commenced operations? How many subscribers do you have so far?","author_name":"Leonardo Lee","votes":1,"created_at":"2020-09-25T20:51:33Z","canonical_url":"https://wefunder.com/healthemedVIP#question-107871","answers":[{"id":109301,"entity_id":"wefunder:comment:109301","answer":"Hello Leonardo. We commenced operations 23 days ago. We don't have our first subscriber because we are in the process of educating Minnesota counties about our offering. We have made contact with 35 counties that are home to 3.5 million state residents. So far, 9 counties have scheduled training in how to obtain HealtheMed services for their SNBC clients. We have set a milestone of 100 subscribers by January 1, 2021 and 1000 subscribers by September 1, 2021.","author_name":"Thomas Spencer","votes":0,"created_at":"2020-10-06T22:54:46Z"}]},{"id":107395,"entity_id":"wefunder:comment:107395","question":"Hi, your company seems very interesting and valuable to society. I have a few questions. I haven’t finished reading your entire profile so please forgive me if you already answered any of the following: 1. What is your gross margin on the ~$3,600 a year per client? 2. Who pays for the Geek Squad installation? Does that come out of the company’s $3,600? And have you already worked out an arrangement with Geek Squad nationally or just in Minnesota? 3. Do you own your own software stack? 4. How many installations are you planning for Q4 2020? 5 Assuming you only raise the approximate $500k where you are now, what is your expected runway with and without revenue? Thank you.","author_name":"LaFoy Thomas","votes":1,"created_at":"2020-09-22T15:51:11Z","canonical_url":"https://wefunder.com/healthemedVIP#question-107395","answers":[{"id":109296,"entity_id":"wefunder:comment:109296","answer":"Hello LaFoy. Our answers are listed in order of your questions as follows: 1. 72% 2. a)HealtheMed pays b) nationally 3. Our software developer is an investor in HealtheMed, under an exclusive contract with us in Medicaid markets for the next 42 months. 4. 100 installations. 5. $445k now. We can bill from the first installation. $500k will take us past break even in eight months! Thank you LaFoy. Please join us. Tom","author_name":"Thomas Spencer","votes":1,"created_at":"2020-10-06T22:39:23Z"}]},{"id":107233,"entity_id":"wefunder:comment:107233","question":"Thank you for your response, Robert. I see the benefit of this platform and see the traction you have already. I have asked this question prior and ill ask again...what do you attribute to the slow traction to your raise here on WeFunder?","author_name":"Michael Perkovich","votes":1,"created_at":"2020-09-21T14:55:28Z","canonical_url":"https://wefunder.com/healthemedVIP#question-107233","answers":[]},{"id":107064,"entity_id":"wefunder:comment:107064","question":"Since you have begun operations, does that mean you have raised the 600k from accredited investors?","author_name":"Michael Perkovich","votes":1,"created_at":"2020-09-19T21:47:35Z","canonical_url":"https://wefunder.com/healthemedVIP#question-107064","answers":[{"id":107230,"entity_id":"wefunder:comment:107230","answer":"Hello again Michael. We have not yet reached our $600K goal, but we are getting close. Meanwhile, several Minnesota counties have asked us to get going and our board of directors decided that we shouldn't keep them waiting any longer than September 14th. Its an exciting time to be at HealtheMed. Thanks Michael.","author_name":"Robert Arnold","votes":0,"created_at":"2020-09-21T14:11:44Z"}]},{"id":104462,"entity_id":"wefunder:comment:104462","question":"A few more questions if you don't mind: -How much does the HealtheMed Hub cost and who pays for it? -What about internet? A lot of people can't afford it. -Can an existing smart TV be used or does it require a dedicated TV so that the HealtheMed software runs at all times?","author_name":"Leonardo Lee","votes":1,"created_at":"2020-08-30T23:31:58Z","canonical_url":"https://wefunder.com/healthemedVIP#question-104462","answers":[{"id":104538,"entity_id":"wefunder:comment:104538","answer":"Hello Leonardo, HealtheMed's Medicaid contract pays for all of the following: *Internet *HealtheMed Hub *Smart TV *Medication dispenser *Bluetooth linked monitoring devices such as blood pressure cuff, glucometer, pulse oximeter, thermometer etc. *Physician, Nurse Practitioner and Pharmacist telemedicine visits A patient's smart TV can connect to the HealtheMed Hub if they elect this option. The HealtheMed Hub runs at all times, regardless of which smart TV it is connected to. Thanks for your questions Leonardo. We look forward to You joining us in the HealtheMed mission! Tom","author_name":"Thomas Spencer","votes":0,"created_at":"2020-08-31T15:18:34Z"}]},{"id":103936,"entity_id":"wefunder:comment:103936","question":"Hello Michael. Three factors may be impacting our start at this time. Companies with B2B offerings like HealtheMed are rare on Wefunder, and additional time may be necessary to understand the business model. HealtheMed has not yet been the subject of a spotlight email blast to the Wefunder faithful. And, we have not yet conducted our own family and friends social media campaign leveraging the Wefunder platform. I do have a good news update. In the last three days two individuals have pledged $1,000 each to our capital raise. This is more than double the size of the average contribution so far. When IBM licensed PC DOS in August of 1981, very few investors understood what a game changer it would become. HealtheMed's business model, as you have pointed out, is a game changer too: Patient care always costs less at home than it does in the hospital! Join us Michael, what have you got to lose? Tom","author_name":"Thomas Spencer","votes":1,"created_at":"2020-08-26T22:09:31Z","canonical_url":"https://wefunder.com/healthemedVIP#question-103936","answers":[]},{"id":103888,"entity_id":"wefunder:comment:103888","question":"Thomas- I appreciate your timely responses to the questions being asked. I do have another that I hope you can shed some light on...this concept seems like a game changer, why do you think your raise is progressing so slowly here on Wefunder?","author_name":"Michael Perkovich","votes":1,"created_at":"2020-08-26T17:28:59Z","canonical_url":"https://wefunder.com/healthemedVIP#question-103888","answers":[]},{"id":103751,"entity_id":"wefunder:comment:103751","question":"Hi. You mentioned that you expect annual revenues in Minnesota to exceed 100M by 2024 but in the Investor Q\u0026amp;A it says: \"In five years we expect to be serving special needs patients in all 50 states, with annual revenues of $100,000,000 and a market valuation that reflects our first-to-market leadership position.\" Which one is correct? If the former, then when do you plan to expand to other states? What would your revenue goals be for the next 5 years nationwide?","author_name":"Leonardo Lee","votes":1,"created_at":"2020-08-25T21:45:34Z","canonical_url":"https://wefunder.com/healthemedVIP#question-103751","answers":[{"id":103860,"entity_id":"wefunder:comment:103860","answer":"Hello Leonardo. Thank you for your questions. I am impressed that you have so carefully inspected the information we published on this site. Although we did note the ambiguity in our projections before we began the Wefunder campaign, we decided to leave it in there for prospective investors for two reasons. First, although no one knows what the world is going to look like in 5 years, we already have interest from other states as a start-up. We plan to exceed our operational goals in Minnesota over the next 12 months. After that, we will begin contract negotiations with at least five other states that have expressed interest in our solution. Second, the special needs market including seniors in Minnesota is 77,000 people. We expect to be serving at least 28,000 of these people (36% market share) by 2024, which will generate annual revenues of $100M. If we subscribe an average of 575 people in forty-nine additional states by 2025, HealtheMed revenues will surpass $200M. The consensus of our advisory board is that our revenue projections by 2024 are conservative. Leonardo, If these answers were helpful, please join us and tell everyone you know about the HealtheMed mission! Tom","author_name":"Thomas Spencer","votes":0,"created_at":"2020-08-26T14:20:02Z"}]},{"id":103162,"entity_id":"wefunder:comment:103162","question":"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 seems to good to be true. Why has nobody tackled this and entered this space? Why now and why you? Thanks","author_name":"Michael Perkovich","votes":1,"created_at":"2020-08-21T20:53:01Z","canonical_url":"https://wefunder.com/healthemedVIP#question-103162","answers":[{"id":103224,"entity_id":"wefunder:comment:103224","answer":"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 dedicated public servants at the state and county level in Minnesota have figured out that information technology plus domain expertise in medicine, business and finance can begin to solve basic problems for Medicaid beneficiaries in their homes. The HealtheMed business model has attracted a core group of these domain experts and we have deep ties to these out-of-the-box thinkers in state government.","author_name":"Thomas Spencer","votes":0,"created_at":"2020-08-22T13:01:33Z"}]},{"id":103065,"entity_id":"wefunder:comment:103065","question":"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 and/or phone is cut off? What happens to the HealtheMed service and the revenue for that month? How common is if for Medicaid patients to not be able to afford internet or phone service? How does the monthly revenue stream for investors work? Is it the $300/pt/month that Medicaid pays to HealtheMed? Good luck.","author_name":"Roger Austin","votes":1,"created_at":"2020-08-21T04:32:44Z","canonical_url":"https://wefunder.com/healthemedVIP#question-103065","answers":[{"id":103146,"entity_id":"wefunder:comment:103146","answer":"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) Telemedicine technology now makes it possible for any platform software provider to contract directly with the government like HealtheMed did in Minnesota. Assuming that Medicaid begins reimbursing hospitals and doctors on par with Medicare, established telemedicine companies would become direct competitors to their current customer base if they contracted with Medicaid. In summary, established telemedicine companies would have to abandon their current business model to compete in the new HealtheMed business model. The SNBC question. SNBC (special needs basic care) is a legal designation in Minnesota for people with health conditions and diseases that require the state to become their legal guardian. The average age for a special needs beneficiary in Minnesota is 34. Every state has a segment of its Medicaid beneficiaries who have these same challenges. Benefits are never cut off and include expenses for groceries, rent, telephone bills, hi-speed internet and health care services. When an SNBC subscribes to the HealtheMed service, the contract is annual and pays HealtheMed $300/Mo . HealtheMed is licensed by Medicaid to provide doctor, pharmacist and other services for which it collects a percentage of all charges for direct medical care above its $3,600/Pt/Yr contract. The investor question. The monthly revenue stream paid by Medicaid to HealtheMed helps investors in two ways. First, as subscribers come on to the network of HealtheMed homes, the company generates a lot of cash because our annual attrition rate will be 5% or less. This cash will be used to grow the company internally and with conventional financing, which could mean that original investors are not diluted. Second, HealtheMed is projecting to enroll half of the special needs patients in Minnesota by 2024. Our annual revenues in Minnesota will exceed $100 million by that point, which will make HealtheMed an acquisition target and provide our investors with a substantial return on their investment. Roger, I hope my answers were helpful to you. Please join us in the HealtheMed mission! Tom","author_name":"Thomas Spencer","votes":0,"created_at":"2020-08-21T18:10:58Z"}]},{"id":102990,"entity_id":"wefunder:comment:102990","question":"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?","author_name":"Cassandra Von’Trerasoski","votes":1,"created_at":"2020-08-20T19:07:38Z","canonical_url":"https://wefunder.com/healthemedVIP#question-102990","answers":[{"id":103005,"entity_id":"wefunder:comment:103005","answer":"Hello Cassandra and thank you for your questions!Patient information is protected in two ways on our HIPAA compliant,\u0026nbsp;cloud-based platform. First, we conduct a platform audit each year to demonstrate HIPAA compliance to any state or federal agency in an audit.\u0026nbsp;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.\u0026nbsp;Minnesota wants to know if Medicaid enrollees with chronic diseases and conditions are taking their prescribed medications in the right amount, at the right time every day. Minnesota also wants to know if doctors and pharmacists are providing medication therapy (patient drug education)\u0026nbsp;to the patient in their home.\u0026nbsp;The HealtheMed platform automatically collects medication dispenses at\u0026nbsp;prescribed intervals on 24 hour/365 day basis. And, it enables\u0026nbsp;doctors and pharmacists to make telemedicine visits through the patient's TV\u0026nbsp;to conduct medication therapy.\u0026nbsp;HealtheMed will make this information available, on a de-identified basis, to the MN Department of Health upon request.\u0026nbsp;HealtheMed data will certainly qualify for certain state and federal grants. We will apply for all grants that are best aligned with our mission, which is to improve the health and the care of patients in their home.Cassandra, please let me know if these answers were helpful to you. All the best!\u0026nbsp;Tom Spencer","author_name":"Thomas Spencer","votes":0,"created_at":"2020-08-20T20:51:13Z"}]},{"id":114278,"entity_id":"wefunder:comment:114278","question":"Hello Robert/Thomas, I keep coming back to your company hoping for an update or 2 since your launch. Any updates you can share? Also, I know your accredited investors recieved a priced round at what I assume is the same valuation as this WeFunder raise...what are you plans for raising additional funds or rounds in the future? I'm sure you know why I'm asking as I would like to know if I invest when or if, I will get actual equity. Thanks!","author_name":"Michael Perkovich","votes":0,"created_at":"2020-11-13T12:50:48Z","canonical_url":"https://wefunder.com/healthemedVIP#question-114278","answers":[]},{"id":109202,"entity_id":"wefunder:comment:109202","question":"What is the minimum investment? What is the time frame in which note will convert into equity?","author_name":"Varathan Ranganathan","votes":0,"created_at":"2020-10-06T02:48:07Z","canonical_url":"https://wefunder.com/healthemedVIP#question-109202","answers":[{"id":109258,"entity_id":"wefunder:comment:109258","answer":"Minimum investment on Wefunder is $100, average investment so far into HealtheMed from Wefunder campaign so far has been $748, we welcome and appreciate all size investments from the Wefunder community. As is typical and customary with start-ups and on Wefunder, your investment will be in a SAFE instrument until there is an equity event at which time your investment will convert to shares and you'll participate in that event (buyout, merger, public offering, large funding round etc). Hope that helps.","author_name":"Robert Arnold","votes":1,"created_at":"2020-10-06T19:37:21Z"}]},{"id":103231,"entity_id":"wefunder:comment:103231","question":"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. are they not? 4. I am not clear on the revenue stream and dr. fee etc. Please explain more","author_name":"Badal Haider","votes":0,"created_at":"2020-08-22T14:13:06Z","canonical_url":"https://wefunder.com/healthemedVIP#question-103231","answers":[{"id":103563,"entity_id":"wefunder:comment:103563","answer":"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 their homes and environment. HealtheMed is contracted with Medicaid. HealtheMed doctors and nurses monitor chronically sick people in their homes and help them manage their daily symptoms through medication adherence, medication adjustments and drug education. 4) HealtheMed gets paid $300 every month for patient medication adherence monitoring and doctor management of medication adjustments. HealtheMed doctors and nurses are paid additional fees under regular reimbursement codes for patient encounters that require treatment beyond medication therapy. Mohammad, I hope these answers were helpful. Please join us in the HealtheMed mission! Tom","author_name":"Thomas Spencer","votes":1,"created_at":"2020-08-24T14:14:01Z"}]},{"id":102964,"entity_id":"wefunder:comment:102964","question":"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","author_name":"Michael Perkovich","votes":0,"created_at":"2020-08-20T15:01:15Z","canonical_url":"https://wefunder.com/healthemedVIP#question-102964","answers":[{"id":103010,"entity_id":"wefunder:comment:103010","answer":"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 that point. Hope that answers your questions, we'd welcome you as an investor to the HealtheMed family.","author_name":"Robert Arnold","votes":0,"created_at":"2020-08-20T21:37:26Z"}]}],"faq":[{"question":"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","answer":"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..."},{"question":"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?","answer":"Hello Cassandra and thank you for your questions!Patient information is protected in two ways on our HIPAA compliant,\u0026nbsp;cloud-based platform. First, we conduct a platform audit each year to demonstrate HIPAA compliance to any state or federal agency in an audit.\u0026nbsp;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.\u0026nbsp;Minnesota wants to know if Medicaid e..."},{"question":"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 ...","answer":"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)..."},{"question":"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 ...","answer":"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..."},{"question":"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...","answer":"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..."}]}}}