About |
Epion Health Business Description
• Using touch-screen, electronic tablets as the first point of engagement to connect patients, physicians, and advertisers at the point of care
• Providing a mobile communication channel to pharma and other organizations who place a high value on access to patients and physicians
• Licensed content from Mayo Clinic, HealthiNation and other highly respected organizations
• Delivering interactive education, health assessments, surveys, e-newsletters and many other digital assets
• Current pilot funded by a “top three” pharma company – Spend is $300K to date – initial data extremely positive; nearly 100% of patients surveyed say experience helped them better understand their health. Data shows greater than 30% lift in health knowledge
• Late discussions with a very large EMR company to provide tablets, applications, device management and analytics related to health assessments
• Will be the premier provider of unbiased, peer reviewed, interactive health information at the point of care. With low health literacy affecting more than half the adult population, at an annual cost of more than $200B, the health care system demands a mobile platform to deliver health information to patients and physicians.
The Market
Most revenue comes from pharma, but pharmacies, medical device, health insurance, nutritional product, and consumer product companies are all sources of revenue.
Pharma spent $4.5B in 2010 on direct to consumer advertising. Most of this spend was in the television sector. However, spend is shifting to the mobile market. Mobile market is more targeted, provides usage data and creates communities of engaged users.
Pharmaceutical companies spend even more marketing to physicians. 2010 spend was $15B. Combined with the consumer spend, total spend is $20B per year. Since we engage consumers and physicians, we will generate revenue from both categories.
Target is $100M in revenue in year 5, which is only 0.5% of the total pharma marketing spend – not to mention all of the other revenue sources. The health care system needs additional tools to educate and communicate to this growing market. Epion Health is in the right place at the right time to fill this need.