SaaS and AI appointment scheduling software

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Background

BizEx ID:BizEx1369-SL
General Location:San Jose, CA
Category: Software & Technology
Healthcare
Years in Business:2
Under Present Owner:all
Hours of Operation:flexible
Owner Hours:part-time
Training:10 weeks @ 4 hours
Organization Type:C-Corp
Lease Expiration:n/a
Lease Options:n/a
Building Size:n/a
Employees:3
Reason for Sale:Part of strategy to scale

Financials

Asking Price:$1,250,000
Down Payment:Negotiable
Gross Sales:$20,000
Discretionary Cash Flow:Call
FF&E:n/a
Inventory Included?No
Inventory:n/a
Min. Operating Capital:$6,000
Real Estate Available?No
Rent:$0

2019 2020 2021 YTD
Gross Sales $ 19,000 $ 20,000 $ 0
Gross Profit $ $ $
Disc. Earnings $ 4,000 $ $

Description

Problem this solution solves: Scheduling/appointment issues are a constant problem that medical practices and clinics encounter every week. Each week practices and clinics review their schedule for the week and see that it is generally fully booked. However, as the week progresses, they see open appointment slots in their schedule because of patient cancellations, rescheduling, and no-shows. By the end of the week, approximately 20% of their appointments would be no-shows and another 10% late cancellations. The seller's interviewed over 150 physicians, administrators, front office staff, and patients across medical practices, healthcare systems, and US Veterans Healthcare Administration (VHA), and this issue came up repeatedly.  In summary, the problem of no-shows and late cancellations impacts patients, office staff, and healthcare providers in the US healthcare system in the following ways: 1) Poor patient experience due to longer wait times to get appointments; 2) Lost productivity for the office staff and physicians; 3) Increased patient follow-up costs for the medical practice or health system, and 4) Loss of revenue for the medical practice or health system.

Size of the problem: A Harvard Business Review article estimated that every year over $150B is lost in healthcare in the US because of no-shows/missed appointments, and patients waited 18.5 days on average to get an appointment. 

Solution:  A SaaS based product available today that can predict cancellations with over 90% accuracy and backfill those appointments in the future with 'waiting list' patients.  

Traction:  Live with their first client since 2019.  Lifetime revenue from this client/practice is $39K  

Opportunity:
The sellers believe that their solution can be tightly integrated with a telehealth solution and would allow filling predicted no-shows or last-minute cancellations over video.  Lastly, this solution can address needs in other verticals (hospitality, restaurants) that face the problem of no-shows.


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Disclaimer: The information herein is furnished by the seller; BizEx has not verified this information and makes no representation or warranty as to its accuracy, completeness, or authenticity. Future earnings may differ from past earnings. Discretionary Earnings is defined as earnings before deducting interest, taxes, depreciation, and amortization, and adding Owners salary, benefits and non recurring expenses.




Steve Lukes
Business Broker / M&A Advisor
4640 Admiralty Way, Suite 500
Marina Del Rey, CA 90292
Office: (310) 882-2200 ext 164
Direct: (310) 871-2909
Lic#: 02092334

Logos Member of the California Association of Business Brokers Member of the International Business Brokers Association Member of the M&A Source Holder of the Merger & Acquisition Master Intermediary designation, M&A Source's highest qualification Holder of the Certified Business Intermediary designation, IBBA's highest qualification Holder of the Certified M&A Professional designation from Coles College Trained by the National Association of Certified Valuators and Analysts to conduct business valuations