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

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Partner, RSF Partners

LEAD INVESTOR

Invested $10,000 this round + $100,000 previously

I have been an investor in healthcare and healthcare real estate for over thirty years. I continually look for passionate entrepreneurs with focused, but scalable business plans and a demonstrated track record of success. My best investments have been identified during times of disruption. HealtheMed represents an excellent opportunity to invest in a disruptive, scalable platform designed to meet the significant needs of a particular population. The business plan provides for near-term profit potential with risk limited through an in-place contract with the state of MN. Not only does HealtheMed represent a way for MN to reduce costs while improving quality of care, HealtheMed will help improve the lives of special needs patients that are burdened with extraordinary challenges. Although, like with any start-up, HealtheMed faces material execution risk, it has an experienced team with a track record of success in growing companies.

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