Datavu: Industry Update

Company:

Started out as an appointment booking and scheduling platform in 2013.
Doctolib has added additional services including telemedicine, instant messaging service, and back-office tool for administrative tasks.
The company has reached a valuation of €5.8 billion, or $6.4 billion at today’s exchange rate. That makes Doctolib the highest valued French startup.

Problem Space:

The company’s main product is a software-as-a-service platform for doctors and medical workers.
The company wants to help them (doctors and the medical staff) tackle admin tasks.
For patients, Doctolib acts as a booking platform that connects doctors with patients. Like ZocDoc.

The Product Evolution:

Started out as a doctor's appointment booking and scheduling platform in 2013.
A couple of years ago, the company launched remote appointments with a telemedicine add-on. Doctors who choose to pay a bit more can start video calls and use Doctolib’s payment systems for remote appointments.
Last year, Doctolib launched Doctolib Médecin, a back-office tool for administrative tasks. For instance, it lets you centralize documents for each patient, see a patient’s history, take notes and issue invoices.

The traction:

The startup also works with 250 public hospitals. And if you’re living in France, you know that Doctolib has become ubiquitous.
During the COVID pandemic Doctolib ranked among the top three most-used video-consultation services in the world.
In January the firm announced that 300,000 medical professionals in Europe use its monthly €129 per month software as a service (SaaS), including GPs, psychologists, pharmacists and dentists.
The company estimates a growth of 100,000 medical users in 2022.

Future Plans:

The funding will be used to further fuel Doctolib’s recruitment drive, as part of its ambition to become an indispensable part of the healthcare industry.
It plans to take on 3,500 new employees in France, Germany and Italy over the next five years.
Doctolib relies on a vast network of offices in major and mid-sized European cities so that they can talk with doctors all around France, Germany and Italy. Doctolib plans to operate across 30 cities.

Who pays?

Providers pay. They get operational efficiency through suit of SaaS products offered by Doctolib and also patients through the booking portal.

Analysis:

Doctolib represents what ZocDoc could have been if ZocDoc had a clear vision and expansive strategy. Perhaps. Five years ago ZocDoc had 6 million monthly active users. They could have gone down the route of Ribbon Health and be a validator of in-network or out-of-network services. They could have gone down the route of Rupa Health or GetLabs and connect providers with labs. They could have gone down the route of Doctolib (which they are now) and be an early entrant in tele-health. Seems like they wasted a huge opportunity here.

Company:

Enterprise analytics company
Launched in 2015, Clarify unites longitudinal data from more than 300 million patients drawn from government and commercial claims, electronic health records and prescriptions.
Raised $115 million series C in March 2021 ($178 million to date)
Embedded Healthcare was spun out of the University of Pennsylvania’s Healthcare Transformation Institute in 2019
Embedded Healthcare based on research in behavioral economics & value-based care model design.
Its behavioral science tools, provide data and incentives to clinicians to simplify value-based contracting and reduce the cost of care for patients.

Value Generated:

Provides enterprise analytics solution on aggregated data collected from multiple sources.
Komodo claims one of the largest dataset (300M+ patients), more longitudinal data (up to 6 years), rich set of features (like demographics)

The traction:

During the COVID pandemic Doctolib ranked among the top three most-used video-consultation services in the world.
In January the firm announced that 300,000 medical professionals in Europe use its monthly €129 per month software as a service (SaaS), including GPs, psychologists, pharmacists and dentists.
The company estimates a growth of 100,000 medical users in 2022.

Future Plans:

The funding will be used to further fuel Doctolib’s recruitment drive, as part of its ambition to become an indispensable part of the healthcare industry.
It plans to take on 3,500 new employees in France, Germany and Italy over the next five years.

Who pays?

Payers (50% of the customers), providers (30% of the customers), life science companies (remaining 20%).

Comments:

Value-based care models picked up steam during the pandemic as mounting evidence demonstrated their potential to lower costs and improve outcomes.

Datavu