Introduction
Most states bar the corporate practice of medicine, and care by doctors must be rendered through a professional entity, such as DL Howard M.D. PH.D, PLLC. We cannot sell ownership interests in DL Howard M.D. PH.D, PLLC, so we are selling shares of our new company, My Virtual Physician, Inc. (defined herein as the "Company"), which will act as the exclusive management services organization ("MSO") over two professional entities, My Virtual Physician, P.C. and DL Howard M.D. PH.D, PLLC (collectively defined as "My Virtual Physician"). Under the MSO agreement, 100% of the profits from the two professional entities will belong to the Company.
My Virtual Physician was created when Dr. David Howard noticed a huge gap in the Telemedicine industry. Most large telehealth companies were virtual urgent care that did not deliver specialist care beyond dermatology and psychiatry. On the opposite extreme, several "niche" telehealth companies focused on a very narrow clinical area.
We are driven by the vision of a world where anyone can access top-tier medical advice within minutes, and where distance and economic status do not dictate the quality of healthcare one receives.
Success to Date
- 2020 My Virtual Physician was formed
- 2021 My Virtual Physician was seeing 40-60 patients a month
- 2022 My Virtual Physician posted solid revenue of $415,000
- 2023 My Virtual Physician had a 13.25% annual increase with over 4,000 billable patient visits which resulted in $470,000 Annual Gross Revenue
- Healthcare Business Review
My Virtual Physician: Easier Access To Specialty Care - 2024 My Virtual Physician, Inc. (the "Company") was formed and executed a Management Services Organization (MSO) agreement with My Virtual Physician, so that all revenues and expenses belong to the Company.
Problem
Fast Facts:
- Most Telehealth platforms are very niche which results in fragmented care and inefficiencies in healthcare delivery.
- The average wait time for an OB-GYN appointment is 31.4 days, a 19% increase from 2017.
- Rising demand for reducing hospital admissions and improving hospital workflow.
- Brick-and-mortar doctor’s offices only operate Monday - Friday for an average of 7 hours per day.
- Increasing shortage of physicians and high burnout rates in the healthcare industry.
- There is not a Telehealth company dedicated to women’s health that has OB/GYNs in all 50 states and that accepts insurance.
- Almost all states require that the Telehealth doctor be licensed in the state where the patient is located. There is not a Telehealth company that has specialty doctors in all 50 states that work with a large network of insurance companies.
Solution
“No more fragmented care for you and your loved ones - My Virtual Physician is not another niche Telehealth company.”
What makes My Virtual Physician truly unique is that we operate like a comprehensive, integrated, multi-specialty brick-and-mortar clinic except we are entirely in the virtual space. Our 3 main specialties are Primary care/chronic care; Endocrinology; and Gynecology.
My Virtual Physician has the infrastructure to support niche Telehealth companies expand their reach by partnering with us to access our wide network of insurance partners, and a diverse team of healthcare professionals.
My Virtual Physician can see patients Monday - Sunday 11 am - 11 pm EST with little to no wait time, and can bill insurance.
We also offer behavioral health, pediatrics, and dermatology. Our services are expanding rapidly.
My Virtual Physician is available in the Apple Store and Google Play Store.
Business Model
We believe our pathway to profitability consists of three parallel strategies:
- Increase the volume of patients seen organically.
- Capitalize on B2B partnerships that expose us to more patients.
- Partner with all of the niche telehealth companies that have a narrow focus so that patients can have wrap-around care.
My Virtual Physician has relationships with Lakeside Rural Health Clinic, Caya, and Health Warehouse Online Pharmacy. Additionally, My Virtual Physician has B2B partnerships with Seattle Sperm Bank, Uresta, Your-Medical-Store.com, Adnab remote patient monitoring, Razor Bumps, Inc., The Day Research Center, WeeCare, and Sunu Post-Natal Retreat.
The partnership with WeeCare in particular is very promising because it has already contributed to our volume in April being over 50% more than our average monthly volume during the first quarter. And that's just with 2 states. WeeCare has a national audience and our partnership with them is going to grow nationally.
My Virtual Physician is in negotiations to partner with Boram Post-Natal Retreat and Yuzi Post Natal Retreat, Pacify (app).
Market
The services segment held the largest revenue share of 47.2% in 2023. The segment is anticipated to grow at a lucrative rate owing to the prevailing trend of outsourcing these services. As healthcare facilities lack the resources and skill sets required for the deployment of digital health solutions, these services are outsourced.
The growing need of telehealth applications in chronic disease management, real-time monitoring, rapid advancements in digital infrastructure, growing internet & smartphone penetration, and development in hardware & software components is driving segment growth. As a result, the constantly evolving digital space is expected to support a growing need for these services.
Team
Dr. Howard was voted as being among the top 10% of scientific reviewers for Obstetrics and Gynecology, the highest-ranked journal in the field in the United States.
Investor Invitation
Imagine a world where healthcare is not just a necessity, but a seamless, compassionate extension of our daily lives. A world where distance, time, and complexity no longer stand between you, your loved ones, and the medical care you deserve. My Virtual Physician is committed to creating this world. Our platform is not just another telehealth service; we believe it is a revolutionary approach to integrated patient-centered care. At My Virtual Physician, we believe that healthcare should be as unique and comprehensive as the lives it aims to improve. We brought together a diverse team of top-tier specialists, from obstetrics and gynecology to family medicine and dermatology, united under one virtual roof. This is not just about convenience; it is also about building a healthcare community that understands and caters to the multifaceted needs of every patient and family.
Investing in My Virtual Physician means investing in a future where healthcare barriers are dismantled.
Our team, led by individuals such as Dr. David Howard, a Johns Hopkins-educated OBGYN with a deep passion for both patient care and groundbreaking research, is at the forefront of this change. Each member of our team, from Dr. Kara with her decade-plus OB/GYN experience and board certifications to Dr. Christina Cherian, who is educated in the prevention and reversal of chronic diseases such as high blood pressure, diabetes, and high cholesterol through the tenets of lifestyle medicine, especially plant-based nutrition, exemplifies our commitment to excellence and being a well-rounded Telehealth company.
Our approach is not just about addressing illness; it is also about fostering wellness, understanding, and trust. It is about providing care that is not only expert and efficient but also deeply compassionate and personalized.
By investing in My Virtual Physician you are championing a vision that values the health and happiness of individuals and communities alike. You are not just supporting a company; you are advocating for a movement that believes in the power of healthcare to change lives for the better, wherever they are, and whenever they need it.
We invite you to be part of this transformative journey to help us expand our reach and deepen our impact. Your investment in My Virtual Physician is an investment in a healthier and more connected world. Let us make the future of healthcare not just a vision, but a reality.
Use of Proceeds
If the offering's maximum amount of $1,000,000 is raised:
| Use | Value | % of Proceeds |
|---|---|---|
| Sustainable Hiring | $500,000 | 50.0% |
| Operating Expenditures | $310,000 | 31.0% |
| Marketing Social Media Ads Manageent | $10,000 | 1.0% |
| Advertising | $20,000 | 2.0% |
| Website Technology Upgrade | $61,000 | 6.1% |
| Services for our app - improvements | $50,000 | 5.0% |
| Intermediary fees | $49,000 | 4.9% |
Terms
This number includes all funds raised by the Company in this round on Netcapital. This is an offering of Common Stock, under registration exemption 4(a)(6), in My Virtual Physician, Inc.. This offering must reach its target of at least $10,000 by its offering deadline of November 1, 2024 at 11:59pm ET. If this offering does not reach its target by the offering deadline, then your money will be refunded.
If the offering is successful at raising the maximum amount, then the company’s implied valuation after the offering (sometimes called its post-money valuation) will be:
Financials
These financial statements have been reviewed by an independent Certified Public Accountant.
SEC Filings
The Offering Statement is a formal description of the company and this transaction. It’s filed with the SEC to comply with the requirements of exemption 4(a)(6) of the Securities Act of 1933.
We’re also required to share links to each of the SEC filings related to this offering with investors.
Understand the Risks
Be sure to understand the risks of this type of investment. No regulatory body (not the SEC, not any state regulator) has passed upon the merits of or given its approval to the securities, the terms of the offering, or the accuracy or completeness of any offering materials or information posted herein. That’s typical for Regulation CF offerings like this one.
Neither Netcapital nor any of its directors, officers, employees, representatives, affiliates, or agents shall have any liability whatsoever arising from any error or incompleteness of fact or opinion in, or lack of care in the preparation or publication of, the materials and communication herein or the terms or valuation of any securities offering.
The information contained herein includes forward-looking statements. These statements relate to future events or to future financial performance, and involve known and unknown risks, uncertainties, and other factors, that may cause actual results to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties, and other factors, which are, in some cases, beyond the company’s control and which could, and likely will, materially affect actual results, levels of activity, performance, or achievements. Any forward-looking statement reflects the current views with respect to future events and is subject to these and other risks, uncertainties, and assumptions relating to operations, results of operations, growth strategy, and liquidity. No obligation exists to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
More Info
Updates
- Sep 6, 2024We are excited to announce a new partnership...
- Aug 19, 2024In today's fast-paced world, accessing quality...
- Aug 8, 2024My Virtual Physician is now partnered with...
- Aug 7, 2024Residents of Arkansas seeking emotional support...
- Jul 26, 2024An independent firm recently conducted an ESG...
- Jul 16, 2024My Virtual Physician's CCM program has...
- Jul 12, 202483% of patients found telemedicine to be more...
- Jul 10, 2024The future of healthcare is here. My Virtual...
- Jul 8, 2024My Virtual Physician is now partnered with...
- Jun 20, 2024Walmart Virtual Care and Optum Health announced...
- Jun 19, 2024My Virtual Physician knows how important...
- Jun 13, 2024My Virtual Physician continues to expand our...
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