Vatorx2
Location: 1275 Mission Avenue, San Francisco, California, United States United States
Founded in: 2016
Stage: Revenue generating
Number of employees: 6-15
Short URL: vator.co/wellbrain
Followers (1)
Awards and mentions
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We were selected (50) out of 1300 companies because of MIT's commitment and push to have technology solutions that have impact to the rest of the world and not just be applicable to the US Coasts only. They selected our solution because of brain health and how it can impact the refugee crisis and other solutions. We all presented at the United Nations General Assembly
Vatorx1

WellBrain

Leading the efforts in addiction prevention and opiate dependency in using mindfulness as a core solution.
Startup/business
San Francisco, California, United States United States
http://www.wellbrain.io
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Company description

WellBrain is a mission-driven cloud based digital chronic pain management platform  that enables providers to assess and manage patient health and mental health using mindfulness and evidence based tools that maximize non-opiate modalities to manage chronic pain. We are post revenue and generating large growth in sales and targeting to reach 1000 providers this year and 3000 next year. 

Our SaaS-based solution enables physicians to prescribe evidence based non-opiate modalities to treat chronic pain and fight the opiate epidemic. Specifically, we provide a multimodal solution including providing customized guided-meditations that we have built in house and that are more medically relevant and other solutions for pain treatment.  In the physician or hospital setting there is an Ipad which gets administered to patients and then which patients use a smartphone device at home.

We have also shown reductions in opiate RX, pain scores, and emergency room visits. 

We signed revenue partnerships with medical device companies (over $3m over three years) and are actively working with insurers, pharma,  and hospitals.  Specifically we also have a few randomized controlled studies with several hospital systems.  Our goal is to minimize or emphasize NO PILLs in making patients better and have providers 

 

 


https://www.youtube.com/watch?v=NEFr633i5w0 Other videos at www.wellbrain.io

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Team
Business model

Our business model/unit economics is the following:

1. Provider revenue - monthly SaaS fees of about $300 a month.  A physician or provider can generate 3-5x this revenue.  And if they do outpatient procedures related to chronic pain - they can generate incremental $10-20k revenue per month.

2.  Medical device revenue - $5k to $10k per month, usually 2-3 year deals with expanding scope.  One medical device company has 400 sales reps, and their sales reps will actively work with us to get Wellbrain used in these practices.

3. Patient Revenue - not turned on yet but can be at $10/m/patient.

Competitive advantage

Our strong competitive advantage is while we have some patents pending on providing customized guided meditations and mapping them to certain programs, our biggest advantage is that our Ipad is already placed in the physicians' offices and this has become a moat. Other solutions or 3rd parties who want to offer their content or solution (often complimentary to ours) are referred to us to be in our our platform.  We had made our solution very elegant and easy to use and this is driving adoption among practitioners (and generating them revenue as well and better care of their patients).  Hence all these companies value our value proposition - including B2B medical device companies.