Question 1

Is there an initial purchase/set-up cost for the consumer for the physical unit (above and beyond the $30 p/month lease fee)?

Accepted Answer

No, the unit is leased and there are no set-up/activation/installation costs for the consumer.

Question 2

How much debt is there in the company and is the founders or directors personal investment as equity?

Accepted Answer

There is $1.1 Million in convertible debt in the company. This convertible debt will convert to equity in a priced round. We do not carry any bank debt and founders have only purchased founder shares, which is standard.

Question 3

Surprised this campaign hasn't gained more traction yet. Few questions. 1) If a home has more than one elderly individual in need of monitoring are the base stations set up to receive multiple inbound signals, or would you need multiple base stations? 2) Is there an ability to...

Accepted Answer

Benjamin, I will answer these questions in turn: (1) If a home has more than one elderly individual in need of monitoring are the base stations set up to receive multiple inbound signals, or would you need multiple base stations? Yes, base stations can be configured for multiple wearable signals so that you have 2 users for 1 base station. We do not recommend more than 2 users per base station and we do put data restrictions on multiple users to comply with FCC (i.e. motion/sleep data would b...

Question 4

What is the monthly fee? Are there different levels of service? How is the call center staffed? QMedic employees?

Accepted Answer

Noel, for users on Medicaid covered by managed care plans, there is no monthly fee--the care plan covers the fee based upon negotiated rates (typically $30/month). For consumers self paying, the fee is $30/month; $75/quarter ($25/month); or $240/year ($20/month). For consumers, there are no long-term contract requirements. If a user or family member is paying, service alerts are typically sent to family members, not nurses, at the user's discretion. Regarding call center, we work with a fully...

Question 5

Thank you for the opportunity to invest in this exciting venture. It seems (to me at least) that the crux of this opportunity lies with demonstrating that using Qmedic vs traditional medical alert services needs to result in: 1) better value / outcomes (e.g., through reduced u...

Accepted Answer

Yes, we have a reference study that shows re-routing high-utilizers can yield greater than 6-to-1 cost savings. At this point, we cannot share the specifics of this proprietary study publicly. However, we can say that the reference study is a 12-month study comparing 2 cohorts, experimental and control: (1) an experimental group of historical high ER utilizers using a proactive medical alert to route non-emergency calls to nurse triage; these users are only routed to ER when there is high pro...

QMedic

Simple, smart medical alert service to support care at home

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QMedic

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$100,000

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