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Location: 1600 Main Street, Venice, California, United States United States
Founded in: 2015
Stage: Revenue generating
Number of employees: 6-15
Short URL: vator.co/medrepublic-1
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MedRepublic

Startup/business
Venice, California, United States United States
http://www.medrepublic.com
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Company description

MedRepublic is an online marketplace that connects patients with a curated list of the best international providers around the world. Founded by a team with 16 years of experience in the medical travel space, MedRepublic has created the first-ever direct-to-doctor platform, where patients can view transparent pricing and peruse doctor profiles. Patients will be able to easily message, call and video chat to discuss their medical needs with providers. We offer validated reviews and peer-to-peer doctor endorsements. 

 

 


Team
Business model

We utilize a commission-based model (15%). Here is a list of average commissions for different products and services we offer:

Procedures: $1,020

• Complication insurance: $100

• Travel insurance: $20

• Travel and lodging: $120

 

Additionally, we will soon add:

 

• Telemedicine consultations: $20

• Local preoperative, domestic -

• Doctor visits: $10-25

• Testing: $10-25

• Local postoperative, domestic -

• Doctor visits: $10-25

• Physical therapy: $50-100

• Diet consultation: $50-100

Ultimately, we are building our HIPAA-compliant platform to include US providers and begin offering a self-insured, multi-tiered option for private businesses to reduce healthcare costs (management charge of $750 - $1,500 per life per year).

 

Competitive advantage

Unlike our competitors, MedRepublic is doctor-facing, providing patients with instant access to doctors.

This approach gives us significant strategic advantages. To highlight a few:

 

1) MedRepublic enables patients to select their own doctors directly, rather than having to work through hospital administration.

 

2) Our providers are independent of their hospitals, so we can work on their behalf to secure competitive pricing and better services from hospitals.

 

3) We can increase brand loyalty by providing creative ways for our providers to increase their revenue (e.g. through affiliate commissions and co-financing) and improve their success with patients (e.g. through our provider ranking algorithm, review system, and provider health metrics).

 

4) We collaborate with providers to create a media kit for them including professional photography, videos and promotional webinars (featuring them and their facilities).

 

Our model empowers both doctors and patients, rather than hospitals.

 

In addition, MedRepublic provides patients with unprecedented access to trusted, high-quality, medical information. This includes patient reviews and testimonials, peer-to-peer doctor reviews, medical discussion forums, provider metrics (e.g. complication and readmission rates), photos/videos, and webinars.