What is the name of your solution?
HealthPrevent360
Provide a one-line summary of your solution.
HealthPrevent360 enables everyone to access affordable personalized preventive healthcare through combining the latest in preventive and longevity medicine, comprehensive diagnostics, and cutting-edge AI technology.
If your solution has a website or an app, provide the links here:
www.healthprevent360.com
What specific problem are you solving?
The U.S. healthcare system is facing a major socioeconomic crisis due to its lack of emphasis on and limited access to personalized preventive healthcare. The following issues and trends underscore the seriousness of this problem.
- Staggering Expenditure: In 2021, the U.S. spent $4 trillion on healthcare, with over 90% dedicated to the treatment of chronic diseases, signaling an urgent need for a more cost-effective approach
- Root Cause of Spending Growth: Approximately two-thirds of escalating health spending is attributed to deteriorating health habits, highlighting the importance of addressing underlying issues and behaviors rather than merely treating disease symptoms
- Declining US Life and Health Spans: The concerning decline in both life and health spans demands a paradigm shift toward prioritizing preventative healthcare measures
- Demographic Challenges: The imminent surge in the elderly population, projected to reach 81 million Americans by 2040, signals the pressing need for proactive measures to ensure a healthier aging population and alleviate strain on the healthcare system
- Alarming Chronic Condition Rates: With adult obesity and diabetes affecting over 40% of the population, there is a critical necessity to shift from reactive "sick care" to proactive models focused on early detection and prevention
- Systemic Focus on Treatment over Prevention: The healthcare system's predominant focus on reimbursing chronic illness treatment rather than preventative measures is not sustainable, necessitating a fundamental shift in approach
- Primary Care Physician Shortage: A shortage of primary care physicians, leaving 100 million Americans without access to essential monitoring, risk assessment, and preventative care, underscores the urgency of increasing preventive health resources and innovative delivery models
Ensuring the future stability of our healthcare system requires a dedicated focus on early disease detection, prevention, and improved healthcare access for marginalized populations. Investing in preventive care and promoting health equity not only enhances overall well-being but also alleviates the tremendous economic burden associated with treating advanced chronic diseases.
What is your solution?
HealthPrevent360 offers affordable precision preventive healthcare to individuals of all ages and socioeconomic backgrounds through a user-friendly HIPAA-compliant mobile app. Our solution, developed and overseen by board-certified preventive health clinicians, enables targeted prevention by seamlessly incorporating the latest evidence-based preventive health guidelines, questionnaires, precision medicine, and early-disease detection technologies.
HealthPrevent360 combines thousands of evidence-based preventive health rules and algorithms with advanced, personalized AI to rapidly and comprehensively assess clinical, behavioral, cognitive, occupational and environmental health. By employing regenerative AI, we tailor assessments and personalized prevention programs to individual reading levels, health comprehension, lifestyle, and cultural context, moving beyond a one-size-fits-all approach to health literacy. Available in both English and Spanish language, HealthPrevent360 includes four major components:
Comprehensive automated assessments evaluate 20 preventive health domains ranging from biomarker analysis and health history to cognitive, lifestyle, environmental and occupational health factors. Easy-to-read dashboards and explanations provide valuable insight into key drivers of health and wellness, while indicating priorities for health improvement.
Physician-reviewed personalized prevention plan utilizes AI to prioritize and assign actionable recommendations and geotargeting to connect users with relevant resources and prevention programs (i.e, weight loss, diabetes prevention, smoking cessation), medical specialists, advanced detection technologies, and validated digital health solutions. Affiliated licensed healthcare practitioners can prescribe appropriate medications and issue orders for targeted labs and tests.
Engagement features promote adherence to personalized prevention plans through behavior tracking and reporting, quarterly reassessments, rewards, preventive health reminders, personalized prevention news and updates
Unlimited messaging with a health coach and certified preventive medicine clinicians to answer questions and evaluate health progress
Who does your solution serve, and in what ways will the solution impact their lives?
Primary care services for preventive health are unavailable to over 100 million Americans, and millions more lack comprehensive personalized prevention due to limited physician training and time constraints. Primary care physicians are trained to evaluate symptoms and diagnose diseases, not prevent them from occurring in the first place. For those with commercial insurance, the annual one-hour preventive health physical falls short, merely providing a snapshot rather than delving into behavioral, emotional, cognitive, or environmental health risks, genetic factors, or essential hormone levels.
Although premium prevention services cater to affluent demographics, options for low-to-middle income Americans, minorities, and those on Medicare/Medicaid are scarce. HealthPrevent360 aims to bridge this gap, delivering affordable personalized preventive healthcare to around 120 million Americans aged 35 to 65. With a mobile-first approach accessible to over 85% of Americans owning smartphones, the solution addresses the digital divide and is available in both English and Spanish. Regenerative AI tailors assessments and programs to individual needs, and convenient at-home testing and virtual communication with certified preventive health clinicians ensure accessibility for busy employed individuals or those in remote locations. The HealthPrevent360 Core membership is fully automated, priced below $500 per year, and is FSA and HSA-eligible, ensuring scalability and affordability for those of low-to-middle income.
Among patients served, we expect the following significant quantifiable outcome impacts through the use of our comprehensive assessment, precision prevention plans, targeted recommendations, engagement features and reminders, and unlimited access to health coaches:
- Improvements in overall health status
- Improvements in overall quality of life
- Improved adherence to preventive health quidelines and protocols regarding vaccines and screenings
- Improvements in cardiovascular and metabolic health
- Improvements in exercise and nutrition habits
- Reductions in annual cost of medical care associated with the treatment of chronic conditions
- Reductions in the annual cost of prescription medications
- Reductions in Type 2 diabetes and pre-diabetes
- Reductions in substance abuse, tobacco and alcohol usage
- Reductions in anxiety and depression
How are you and your team well-positioned to deliver this solution?
Dr. Andres Jimenez, our team lead, epitomizes the essence of a proximate leader. Born in the Bronx, NY, as an Afro-Latino, Dr. Jimenez faced and overcame systemic barriers, including skepticism from his high school counselors about his medical aspirations. His journey, marked by encounters with stereotypes and marginalization, fueled his determination to pave the way and effect change.
In medical school, acknowledging the lack of guidance he once faced, Dr. Jimenez authored a book to assist future premed students, particularly those without adequate support. This initiative blossomed into an online premed program in collaboration with the Bronx High School for Medical Science, supported by Washington State University College of Medicine. Over two decades, this program has empowered hundreds of underprivileged students from urban and rural areas, inspiring many to return and serve their communities including the Bronx.
Dr. Jimenez's connection to his roots was further demonstrated during the COVID-19 pandemic. With the outbreak severely impacting Corona, Queens - a neighborhood close to his heart and home to his extended family - he was propelled into action. The loss of his wife’s grandmother in an overwhelmed healthcare system at the start of the pandemic deeply affected him. Leveraging his network from Cornell’s MBA/MS in Healthcare Leadership program, Dr. Jimenez founded Designated.health, a nonprofit organization aimed at addressing healthcare disparities. Through this platform, he orchestrated a volunteer physician workforce to offer free telemedicine services and remote monitoring to underserved communities, particularly focusing on black and brown populations disproportionately affected by the pandemic. Designated.health's evolution to a CDC-recognized Diabetes Prevention Program is a testament to its impactful and adaptive approach to community health needs.
Dr. Jimenez's leadership is also marked by his inclusive approach to collaboration. He values the insights and expertise of professionals from diverse backgrounds, like Dr. Geraldine McGinty, a key mentor and member of the Cure Advisory Board and former professor. His ability to maintain strong ties to his community is not only professional but also personal, as these communities encompass his family and friends and help inform our solutions.
Fluent in Spanish, Dr. Jimenez is actively involved in adapting our solutions to be culturally sensitive and accessible. He has taken the lead in translating our comprehensive assessments to Spanish and refining AI prompts to respect cultural nuances. Our recommendation engine, incorporating emerging technologies, is being enhanced with local data sources to ensure relevance in underserved areas.
Dr. Jimenez's advocacy extends beyond direct service; he is a vocal critic of systemic biases amplified by AI systems in healthcare. His participation in national forums and establishment of a bias self-evaluation framework for our project underscore his commitment to equitable healthcare.
With Dr. Jimenez at the helm, our team is uniquely positioned to design and deliver solutions that resonate with and effectively serve communities across the U.S., particularly those historically marginalized. His life and career are not just a testament to overcoming adversity but an ongoing commitment to uplifting others facing similar challenges.
Which dimension of the Challenge does your solution most closely address?
In what city, town, or region is your solution team headquartered?
New York, NY, USAWhat is your solution’s stage of development?
Pilot: An organization testing a product, service, or business model with a small number of usersIn which of the following areas do you most need partners or support?
Who is the Team Lead for your solution?
Andres Jimenez, MD, MBA, MSED
What makes your solution innovative?
HealthPrevent360 incorporates numerous innovations that can significantly improve economic and health outcomes through enabling broad access to affordable precision preventive health. In addition to providing our service directly to patients, our platform could be white-labeled by payers and providers - including CMS - to enable nationwide access to automated precision preventive health.
Personalized Prevention through Regenerative AI: Our utilization of regenerative AI, finely tuned for our prevention program, along with a proprietary rules engine, enables personalized prevention that considers a comprehensive range of health domains, including lifestyle, mental health, environmental factors, occupational influences, and genomic considerations. This approach incorporates the latest evidence-based guidelines, emerging precision medicine, and early-disease detection technologies. Oversight by a physician prevention expert ensures the highest standards of care, and regenerative AI enhances patient understanding by personalizing materials according to individual reading levels, health comprehension, lifestyle, and cultural context.
Expert-Derived Rules and Continuous Growth: Through our data collection platform, tailored regenerative AI, and recommendation engine, we've established a set of over 4,000 rules curated by our Chief Medical Officer, an expert in Public Health and Prevention. We're on track for further expansion, aiming for 10,000 proprietary expert-derived rules by mid-2024.
Intelligent Recommendation Engine: At the core of our solution is an intelligent recommendation engine connecting patient health concerns to targeted interventions, offering increased risk certainty and mitigation strategies. This engine encompasses behavioral interventions, standard prevention diagnostics, emerging precision medicine, early-disease detection technologies, and geotargeted local nutrition and activity options. Integrated within our platform, the recommendation engine monitors engagement, satisfaction, and impact, utilizing artificial intelligence to learn and continually enhance recommendation effectiveness over time.
Efficient Data Collection: Our data collection platform, featuring an adaptive online survey connected to trackers and nationwide information exchanges like CareQuality and CommonWell, streamlines the patient experience for heightened efficiency. This technology, designed to accommodate multiple patient languages beginning with English and Spanish, ensures comprehensive and robust data collection.
Non-Bias Guarantee and Scientific Decision Making: We stand behind a non-bias guarantee, assuring that our decision-making process remains uninfluenced by referral networks or our own interventions. The recommendation engine is designed to ensure that patient recommendations are driven solely by scientific evidence, potential impact, quality, affordability, and alignment with the patient's health goals.
How does your solution address or plan to address UN Sustainable Development Goal 3 for Good Health and Well-Being?
HealthPrevent360 aligns closely with the UN Sustainable Development Goal 3 by leveraging highly scalable, multilingual technologies to address chronic disease prevention through innovations in assessment, analysis, recommendations, and presentation. Our broad assessment encompasses mental health, substance abuse, environmental and occupational hazards, and socio-economic factors. Going beyond traditional clinical assessments, our approach includes critical lifestyle factors such as key relationship dynamics (spouses, job supervisors) often overlooked but profoundly impactful in driving healthy behavior change. Our recommendation engine integrates with the local wellness ecosystem, including programs available to underserved areas, and proven online digital health solutions. We ensure alignment with established USPSTF recommendations, covering vaccines, HIV and Hepatitis screening, PrEP, and considerations for travel-related exposures including communicable diseases and other health hazards.
Our comprehensive preventive health assessment delves into concerns like depression, anxiety, substance abuse, and binge drinking, addressing their associations with road injuries and violence. We screen and connect patients to resources related to smoking/vaping, evaluate environmental health hazards including pollutants, and consider genetic predispositions to harm, such as variants associated with cellular sensitivity to oxidative stress. Finally, our tool assesses Cardiovascular-Kidney-Metabolic Health, recognizing the interplay among metabolic risk factors, chronic kidney disease, and the cardiovascular system. Notably, our approach aligns with the American Heart Association's recent Presidential Advisory, emphasizing the high prevalence of poor cardiovascular-kidney-metabolic health and providing guidance for effective and equitable enhancement, especially for those with adverse social determinants of health.
Describe the AI components and underlying data that powers your solution.
Our AI components include regenerative and supervised AI models. We optimized the use of Open.AI's ChatGPT 4.0 Turbo enterprise API for our use case through dynamic prompt engineering including the connection of data from our adaptive assessments, fine-tuning (currently in the phase of collecting desired prompts), and the use of Lang Chain to connect a proprietary Recommendation Engine and >4,000 certified expert-derived rules.
Our recommendation engine AI will include a supervised AI pipeline, built using AWS Auto-ML web services and gradient boosting. At the end of each week, training data derived from deidentified patient profile features, as well as recommended engagement features are automatically partitioned into a training data set (90%), and validation data set (10%). 500 AI models are created, and tested for their ability to predict 30-day engagement, and NPS satisfaction ≥9 out of 10 (250 models each). The pipeline automatically selects the top 2 models, which are then deployed. These binary predictions are applied on patient recommendations with the goal of maximizing engagement and satisfaction.
From a data curation perspective, our platform will integrate and curate multiple datasets and guidelines from the following sources:
Third party data sets:
- USPSTF guidelines
- Clinvar database: a freely accessible, public archive of reports of the relationships among human variations and phenotypes ClinVar is a a freely accessible, public archive of reports of the relationships among human variations and phenotypes hosted by the National Center for Biotechnology Information (NCBI) and funded by intramural National Institutes of Health (NIH) funding.
- US EPA database of environmental information by location
Patient Data Feeds:
- Electronic Health Records
- Carequality and Commonwell
- Multiple Labs: blood, dna, saliva testing
- Fitness trackers
How are you ensuring ethical and responsible use of AI in your work? How are you addressing or mitigating potential risks in your solution?
Our founder and chief medical officer, Dr. Andres Jimenez, is a highly experienced clinical informaticist, who ensured our AI strategy and technology were built from the ground up accounting for emerging standards for AI safety and security in order to protect privacy and advance equity and civil rights. These measures are in alignment with emerging public initiatives such as the White House Executive Order on Safe, Secure and Trustworthy AI, as well as the NYC Artificial Intelligence Action Plan.
Dr. Jimenez is an afro-latino, born in the Bronx NY, and an alumni of Dartmouth, Brown and Cornell. Dr. Jimenez is board certified in Public Health and Prevention, as well as clinical informatics, and spent the last two decades focused on technology driven behavior change designing and leading behavior change interventions impacting over 30% of all US physicians, and software used in over 2,000 hospitals and clinics throughout North America. Secure and ethical use of technology was inherent to this work, along with his pro-bono volunteer work in partnership with Washington State University and the Bronx High School for Medical Science to guide hundreds of underserved pre-med high school students for over two decades in an effort to address health disparities through these pipeline efforts. He is an Adjunct Assistant Clinical professor at Mount Sinai, and frequently participates in panel discussions sponsored by Mount Sinai and Weill Cornell Medical School to talk about Healthcare AI Trends, including the challenge of data bias and amplification through AI.
Dr. Jimenez ensures there is first appropriate disclosure to patients on how data is used. The software development team leverages a unique software development protocol where PHI never leaves the US, which includes a robust de-identification process, and limited access protocols in alignment with HIPAA, and SOC II standards. Recommendations in the recommendations engines include their corresponding scientific evidence and evaluation of patient demographics for key studies to have a better understanding of generalizability to diverse patient populations. For example, the patient population of key studies impacting prostate cancer screening guidelines had <3% Latino's in their study group, despite Latino's having worse outcomes, and accounting for about 19% of the US population.
Annually, we plan to leverage a multi-disciplinary and representative expert panel to ensure we continue to follow and incorporate best practices into our processes and procedures to ensure ethical and responsible use of AI.
What are your impact goals for the next year and the next five years, and how will you achieve them?
Our impact goals over the next five years are ambitious and guided by our ability to generate positive outcomes to as broad a section of our target population as possible yet realistically attainable for a startup organization.
- The ability to deliver affordable secure access to all users across all 50 states, with a goal of servicing over 500,000 individuals directly and over 1 million through licensing of our platform to third parties
To achieve this, we will obtain medical licensing in all 50 states and promote our service directly to patients and through contracts and affiliations with employers, health plans, health systems including the US military health system, labor unions, and major medical and consumer associations. Our organization is currently licensed in 19 states servicing over 220 million US residents.
Among patients served, the following significant quantifiable outcome impacts through the use of our comprehensive assessment, precision prevention plans, targeted recommendations, engagement features and reminders, and unlimited access to health coaches:
- Improvements in overall health status
- Improvements in overall quality of life
- Improved adherence to preventive health quidelines and protocols regarding vaccines and screenings
- Improvements in cardiovascular and metabolic health
- Improvements in exercise and nutrition habits
- Reductions in annual cost of medical care associated with the treatment of chronic conditions
- Reductions in the annual cost of prescription medications
- Reductions in Type 2 diabetes and pre-diabetes
- Reductions in substance abuse, tobacco and alcohol usage
- Reductions in anxiety and depression
What type of organization is your solution team?
For-profit, including B-Corp or similar models
How many people work on your solution team?
Four employees currently work on our solution team full-time including:
- CEO
- Chief Medical Officer
- Chief Operating Officer
- CTO
In addition, we utilize 2 part-time contractors for the following roles:
- Development Operations (DevOps)
- QA
We also utilize contract resources for
- Legal and healthcare regulatory support
- Accounting, finance and tax
- HIPAA audit and cybersecurity
- Mobile application development
- Marketing (Web, SEO, SEM)
How long have you been working on your solution?
Dr. Jimenez and his development team have been working on the HealthPrevent360 platform since January 2023. The platform leverages technology and infrastructure previously developed and utilized from 2020 through 2022 for Dr. Jimenez's work to deliver the Diabetes Prevention Program and private personalized prevention healthcare to patients through his Healthier.Clinic business.
What is your approach to incorporating diversity, equity, and inclusivity into your work?
Healthier Life Medicine Technology Inc. is dedicated to diversity, equity and inclusivity as exemplified in its founding leadership. Founder and Chief Medical Officer, Dr. Andres Jimenez is afro-latino and was born in the Bronx, NY. Over the last 10 years, Dr. Jimenez has performed pro-bono volunteer work in partnership with Washington State University and the Bronx High School for Medical Science to guide hundreds of underserved pre-med high school students in an effort to address health disparities. CEO, Monique Fayad, previously founded two women-owned businesses, ICDLogic and Trellus Health, and is dedicated to fostering diversity and inclusion in the workplace.
Our company’s mission is to democratize access to high-quality affordable personalized preventive health for people of all races, genders, and socio-economic levels. We have established the following ambitious goals in order to achieve this mission while recruiting and hiring a diverse workforce:
- 100% base pay equity for employees in similar roles and markets with regular review of pay rates
- 35+% representation of underrepresented groups leadership roles
- 35+% representation of underrepresented groups leadership roles
- Implementation of a diversity, equity, inclusion, and belonging strategy that includes annual training and education for employees
What is your operational model and plan?
Leveraging decades of experience from our founding team in building and scaling digital health and virtual care businesses, our operational model and plan are meticulously crafted to be cost-efficient, secure, and scalable.
Development and Operations
We are committed to an efficient and nimble staffing and development strategy to swiftly implement our initiatives while upholding the highest healthcare privacy and security standards. Led by our experienced CMO, Dr. Jimenez, our development team boasts a collaborative history of over 15 years, successfully building and implementing digital health and education solutions in previous startups. This extensive experience, coupled with effective communication, not only minimizes our execution risk but also ensures transparency and control over our operating costs.
- 100% remote team to minimize costs and overhead
- CEO, CMO and COO based in the US
- CTO and development team are all nearshore or offshore to minimize technology development costs (60% less than US developers)
- Utilization of contract labor for administrative and support functions for at least the first 2 years of operation until product-market fit and stable recurring revenue are established
- Utilization of contractors for HIPAA and SOC2 certification in 2024, with significant progress made towards HITRUST certification
- Advisory Board: We are in the process of securing 3-5 renowned medical experts and advisors in the areas of preventive health, precision health and AI
Nation-wide Virtual Clinical Operations
To ensure expert medical oversight and virtual access to certified preventive health professionals (MDs, NPs), we will establish Managed Service Organization (MSO) agreements with separate Professional Corporations (PCs) in multiple states. To comply with state Corporate Practice of Medicine (CPOM) laws, Healthier Life Medicine Technologies, Inc (HLTM) will function as the technology, platform, business, and administrative provider for HealthPrevent360 services. Individual PCs will be responsible for delivering medical services using licensed healthcare providers. Dr. Jimenez will establish approximately 7 PCs in additional states for legal service delivery. PCs will pay an annual fixed fee to HLTM for platform, technology, business, and administration services.
- Dr. Jimenez currently owns 3 PCs in NY, NJ and CT, and is licensed to deliver medical care in 19 states representing over 200 million Americans.
- Over 2024, we will work with legal counsel experienced with state-specific medical licensing, CPOM and PC establishment to manage this process quickly and cost-effectively
Go-To-Market Strategy
Our bifurcated go-to-market strategy includes concurrent sales directly to consumers (DTC) as we build a pipeline of B2B2C customers composed of employers, health plans, labor unions, specialized health systems who want to add preventive health services.
- DTC marketing and customer acquisition will utilize targeted digital marketing (website, SEO, SEM, social media marketing)
- B2B2C contracts will be sold directly by our CEO and CMO.
- We will initially target New York and New Jersey accounts, and expanding nationally as the company secures patients, satisfaction and outcomes data
- HLTM secured its first pilot contract for 20 patients in November 2023 with an NJ Drug and Alcohol Rehab Facility.
What is your plan for becoming financially sustainable?
We will fund our work through a combination of donations and grants, investment capital, selling products or services, service contracts to governments, employers, labor unions, health plans and health care providers focused on providing precision prevention.
To date we have funded startup operating expenses from January - December 2023 through Founder contributions, unsecured and convertible debt. We are in the process of raising a seed investment round in the amount of $3-5 million, that is expected to close by the end of Q1-2024.
Revenue Model
Our DTC revenue model consists of a 3-tiered membership. Pricing increases based on the extent of analysis and live personalized support provided. B2B2C contracts will reflect this model, but pricing will be lower based on the volume of members contracted for.
Core Membership: Fully-automated comprehensive analysis of your current health
$439 for 12 months: $199 baseline assessment, $19/mo
Features
- Individualized physician analysis
- Advanced lab work included
- Personalized preventive health plan
- Recommendations for targeted prevention solutions, specialists and programs
- Health coaching
- Unlimited care team messaging
Modules
- Baseline assessment (covers 22 health domains)
- Baseline update (after 6 months)
Premium Membership: Expanded analysis with additional focus on the most common mortality risks and behaviors.
$987 for 12 months: $399 personalized assessment, $49/mo
Features
- Two 45-minute virtual sessions with certified preventive health clinicians annually
- Comprehensive health and behavior analysis using tracking devices (sleep, activity, heart rate, etc)
- Advanced lab work including genomics and hormone analysis
- Individualized physician analysis
- Personalized preventive health plan
- Recommendations for targeted prevention solutions, specialists and programs
- Health coaching
- Unlimited care team messaging
Modules
- Baseline assessment (covers 22 health domains)
- Quarterly Baseline update
- Genetics and hormone analysis
- Comprehensive health and behavior analysis (incl. Fitbit tracker)
Ultimate Membership: The most in-depth analysis and personalized support for preventive health and wellness $2,688 for 12 months: $499 personalized assessment, $199/mo
Features
- Initial 60-minute virtual session with a Board-Certified preventive health MD
- Four 30-minute virtual sessions with certified preventive health clinician annually
- Comprehensive health and behavior analysis using tracking devices (sleep, activity, heart rate, etc)
- Advanced lab work including genomics and hormone analysis
- Recommendations and orders for advanced diagnostics (Cleerly, Prenuvo, Galleri, etc)
- Individualized physician analysis
- Personalized preventive health plan
- Recommendations for targeted prevention solutions, specialists and programs
- Health coaching
- Unlimited care team messaging
Modules
- Baseline assessment (covers 22 health domains)
- Quarterly Baseline update
- Genetics and hormone analysis
- Comprehensive health and behavior analysis (incl. Fitbit tracker)
- Body composition (incl. Zozo suit)
What are your current operating costs, and what are your projected operating costs for the next year? Please include human capital estimates.
Our current operating costs are approximately $30,000/month. Approximately 75% of these costs are for human capital.
In order to successfully implement the fully-automated version of HealthPrevent360 in English and Spanish, and to expand geographic licensing to cover all 50 states in 2024, we expect monthly operating costs to approach $150K/month starting starting in Q2-24, with total annual expense of approximately $1.8M. Approximately 65% of this will be associated with human capital.
The estimated breakdown of costs by business function are:
- Technology 34%
- Sales & Marketing 30%
- Operations 16%
- Compliance 13%
- Accounting/Legal/Administrative 7%
Applicants can request and receive funding at a minimum of 50k and maximum of $100k. How much funding are you seeking to continue your work in 2024, and how did you select this number? What would you use this funding for? Funding is limited; please consider carefully the right amount to request.
Based on our expense projections and ambitious execution goals for 2024, we seek $100K funding from the Cure Xchange Challenge to continue our work until such time that we secure investment capital.
This funding would be utilized for software development and legal/regulatory costs associated with establishing our PCs/MSO contracts.
The Cure Residency will provide winners with seed funding, mentorship, lab space, mentorship, educational programming, and networking opportunities. How do you imagine this opportunity will help support your work? Which aspects of the Cure Residency would you be most excited about?
The Cure Residency holds immense potential for our team and we anticipate significant advantages from the seed funding, mentorship, and networking opportunities it provides. Given our team's substantial experience in building digital and virtual health businesses, the Cure Residency stands out as a unique opportunity, granting us access to highly-valuable targeted resources through mentorship and networking that are not readily available in our distributed, remote environment. Additionally, the insights and camaraderie of fellow Cure Residency winners, especially in the realm of AI/ML in healthcare, would be invaluable. With our CMO and CEO located in the NY-Metro area, the provided lab space presents a convenient and cost-effective solution for in-person meetings and fostering social interaction with other digital health entrepreneurs who share our vision.
We would be honored and extremely grateful for the opportunity to participate as members of the Cure Residency as winners of the Cure Xchange Challenge.
Solution Team
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Monique Fayad CEO, HealthPrevent360
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What is the name of your organization?
Healthier Life Medicine Technology Inc