Jan 27
2015
Health IT Startup: 2nd.MD
2nd.MD provides direct access to the world’s best doctors for personalized second opinions via video or phone within about three days.
Elevator pitch
When it comes to your health, don’t second guess, do 2nd.MD.
Founders’ story
When Clint Phillips’ — our CEO — daughter, Gabi, suffered from a stroke, the family faced immense hurdles to get answers to their health-related questions. The uncertainty of choosing the right doctor, the many months of waiting for an appointment and the time spent traveling to see specialist after specialist were constant struggles. 2nd.MD was founded to save other families from the confusion and barriers faced by the Phillips’ family. Leading doctors joined forces, as well as innovative investors, to develop 2nd.MD into a driven cause that continues to create more dedicated and passionate care.
Marketing/promotion strategy
2nd.MD partners with businesses and employers to provide our expert second opinion services to their employees. We communicate monthly through a variety of channels to stay top of mind with employees, reminding them to use our service when they need us.
Market opportunity
Our target audience consists of the 5 percent of employees that make up 50 percent of healthcare costs for companies. These employees are facing a new diagnosis, possible surgery or change in medication, and are not aware of their options. 2nd.MD allows employees the opportunity to speak with the top specialist for their condition, which provides the most up-to-date treatment options for each individual case. Additional statistics can be provided.
Second opinions result in changed diagnoses in 15 percent to 20 percent of cases and modified treatment recommendations in 60 percent to 70 percent of cases, according to the Institute of Medicine.
Who are your competitors?
Because of the service 2nd.MD provides, we have no direct competitors. Companies, such as Best Doctors and Cleveland Clinic, do offer a similar service; however, they can take six weeks and do not provide direct access to a physician. As a result, the utilization and appeal of 2nd.MD is highly valued.