| Current Status | Revenue Generating, Pre-Profit |
| Amount Invested | RM 450,000 |
| Funding Required | RM600,001 to RM1,000,000 |
| Description | We are specializing in online appointment booking and advanced queue solution in healthcare sector. We believe that the current pain point for healthcare is the long waiting hours and poor patient experience. Driven by passion to improve healthcare quality in this region, we wish to make our highly-scalable idea into reality and to expand our penetration not only to the whole Malaysia but also other countries in this region. We offers online booking apps sync with doctors’ roster, centralized appointment and walk-in dashboard for healthcare service provider, live queue checking, smart queue screen and self-check in kiosks for patients. |
| Business Opportunity | We offer complete solution to reduce waiting time of patients. According to our past experience, we are able to reduce waiting time up to 50% in healthcare settings. Besides, in contrast to the conventional booking platform, our booking system is valid by a few clicks on the phone and promises real booking time slots to visit doctors. Patients able to queue from home and check live queue anywhere, instead of waiting in congested clinics. Healthcare efficiency is improved tremendously by dispersing the patients equally and automating appointment booking and self-check in system. With 350 hospitals and 11000 clinics in Malaysia and nearly 7000 hospitals in SEA, we estimate the market size to be 100 million USD per year. |
| Revenue / Business Model | Our revenue is generated based on annual subscription fees from doctors, one-time project based software implementation fees for hospitals and advertising fees. We charge RM 1920 per year for a doctor or service. The fields we cover are vast, which include medical, dental, physiotherapy and aesthetic. For hospitals, depending on the level of system integration and customization, we charge the one-time fees accordingly. Another source of revenue is from the advertising fees from advertisements on our Apps, queue screen and kiosks. The advertising fees are ranging from RM 300 to RM 1000 / month depending on the advertising packages selected. |
| Management Team | Our team is formed by a group of vibrant and passionate professionals. Our CEO/founder is graduated from Nanyang Technology University major in Software Engineering. He started his career in Singapore and accumulate vast experience as a Software Engineer in healthcare related software company. He founded an e-commerce company, Repotech in 2000. Our co-founder,Dr. Tai Tzyy Jiun is Director of Business Development. He graduated as Medical Doctor (M.D) from University Malaysia Sabah 2010. After completing compulsory service in government hospital and primary health clinic, he joined Qualitas Medical Group for 2 years. Nicholas Tai is the Marketing Director whograduated from Nanyang Technology University major in Petrochemical Engineering. He was recruited by Keppel Corporation and he was awarded with top 5% performers in his company. With experience of opening 2 boardgame cafes in Johor Bahru and participation of public speaking seminars, he joined us to deliver an integrated marketing strategy for our company. Dr. Sim Hui Xin is the Director of Business Operation. She graduated from Melaka Manipal Medical Colleage as doctor (M.D) with flying colours and after completed service in government healthcare settings, she worked as an Occupational Health Doctor in Johor Bahru. |
| Company Background | We started our company in November 2015. Investment made to date were RM 450,000. Our clients include a few of the most prestigious medical groups in Malaysia, Sunway Medical Group and KPJ Group. We also serve renowned other hospitals like Oriental Melaka Straits Medical Centre and Mahkota Medical Centre and a number of centres such as Sunfert Fertility Centre, Tey Maternity Centre, Lee Eye Centre and Taipei TCM Centre. To date, we have 150 doctors subscribed to our software, 35385 active users and nearly 300,000 successful appointments made. |
| Funding Milestone | We require RM 1,000,000 for this Round A investment. We target 10 hospitals and 10 clinics in 2018 and a RM1,000,000 of revenue by the end of this year. Our aim is to achieve 5% of total market shares in this region in 3 years . |
| % Equity Allocation | 10 |
| Expected ROI | CAGR: 20-30% |
| Risks and Mitigation |
Relative performance
This risk pertains to the extent to which the management organisation fails to achieve the relevant benchmarking with the entities it manages, as a result of which our major hospitals and other clinics may decide to withdraw their assignments from EncoreMed. This risk is mitigated by monitoring our own performance via our relevant benchmarking on a monthy basis such as daily active user rate and customer satisfactory feedback by our maintenance team led by our doctors.
Competitiveness
Management fee
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| Exit Strategies | As this round of investment is mainly for the scaling up of our company solution, next round of investment will come in a year’s time to focus mainly on market expansion to our neighboring countries such as Singapore, Philippines, and Indonesia, and this is also where the investors can choose to join or leave our company. |
| Company Name | Encore Med Sdn Bhd |
| Website/Facebook | https://www.encoremed.io |
| Business Address | SOHO SUITES @ KLCC B1-08-01 NO. 20 JALAN PERAK, 50450 KUALA LUMPUR . |
| Contact Person | Dr.Tai Tzyy Jiun |
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