SendaRide
https://sendaride.com Location: Oklahoma City OK
Industry: Healthcare, Rideshare
Current Revenue
$2M (projected, 2018)
Contact
Laura Fleet, CEO
[email protected]
405-922-7212
Problem: Market research suggests that 7 million people miss their medical appointments each year due to lack of transportation. Hospitals and patients both suffer from lacking transportation to/from medical appointments. Missed appointments negatively impact the bottom line in several ways: (1) hospitals/clinics are overstaffed when patients do not arrive at their appointments; (2) hospitals and providers cannot bill for their services if the patient isn’t in their facility; (3) providers that are reimbursed based on successful outcomes are seeing profit share decline as their patients’ health declines.
Solution: SendaRide provides hospitals, providers and/or health plans the opportunity to schedule the right-sized, right-capability, transportation when needed, with one-way and round-trip rides for their patients. SendaRide provides easy, customized, door-to-door ride service that meets each patient’s specific needs. Drivers are recruited directly from the healthcare industry and include paramedics, nurses and first responders. SendaRide offers a regulatory-compliant web portal and an application (iOS) for ride scheduling in advance or on-demand.
Target Market / Size: Non-emergency medical transportation is federally mandated benefit for Medicaid beneficiaries. In 2016, the federal government spent over $5 billion on this benefit for patients nationwide. The need for non-emergency medical transportation is steadily increasing as care obtained at free-standing outpatient surgery centers, cardiovascular and cancer care treatment facilities is expected to grow at 20% per year.
Sales / Marketing Strategy: SendaRide has already experienced great demand from hospital systems. In the first 4 months of business, SendaRide executed contracts with 6 of 6 Oklahoma City-based hospitals. Management has a two pronged approach to sales and marketing. First, hospital systems and health plan companies will be targeted for direct sales. Second, product integration within widely used electronic health systems such as Epic (expected within 6 months) will offer providers quick and effortless scheduling for their patients, while positioning SendaRide as the preferred option for patient transportation.
Product Development: While SendaRide’s current product is fully functional and has demonstrated utility in the market, additional product development is planned to integrate SendaRide within the top 5 Electronic Health Records software platforms. To date, EHR platforms do not contain an option for coordinating patient transportation, yet these companies have demonstrated interest in providing such an offering. SendaRide has contracted a software development group that specializes in EHR integration to incorporate SendaRide technology as an “easy button” available on the top EHR platforms.
Competition: SaR’s primary competitors are ride sharing services such as Uber and Lyft, and broker companies LogistiCare, Circulation and Veyo. Additionally, medical transport is often coordinated through traditional taxicab companies and medical van service companies. SendaRide differentiates from competitors with its concierge service, heavily screened and curated team of drivers, real-time audio and video of every ride, and competitive price as compared to traditional medical transport options. Most importantly, and a central differentiator from ride sharing services, SendaRide’s technology is HIPAA compliant and conforms to healthcare industry regulations.
Management: CEO and Co-Founder Laura Fleet has practiced health care and administrative law for 20 years representing hospitals, providers, health plans and not-for-profit associations throughout her career. Laura’s career experiences have given her a unique vantage point into the specific needs and requirements of the health care industry. Co-Founder David Fleet has over 30 years of experience in B2B sales, initially founding his own insurance brokerage firm, then selling that company to a publically traded international Employee Benefits Company before co-founding SendaRide.