Table Colombia Challenge
| UserId | 364 |
|---|---|
| Business Name | BIVA SAS |
| Application Date | 09/24/2019 |
| Website | https://www.biva.co/ |
| Location Headquarters | Carrera 43 A 17 106 Medellin, Antioquia 050021 Colombia Map It |
| Legal Status | Incorporated |
| Core Team Languages |
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| Contact Name | Daniela |
| Email Address | Email hidden; Javascript is required. |
| Phone Number | +57 319 409 07 58 |
| Problem: Describe the problem you solve. | Biva is a therapeutic risk management platform that integrates patient's adherence management and remote and personalized monitoring of patients to improve healthcare programs outcomes for chronic diseases. For patient's adherence management Biva has a mobile App (and a voice or chat robots for those patients who don't have access to smartphones) that allows patients and caregivers to register the information of the medical conditions and treatments they have. It sets reminders for each treatment that includes medications alerts, appointments and others to achieve a holistic treatment perspective. It focuses on the Patient-Caregiver relationship allowing them to share information, set alerts and symptoms/signs trackers to check adherence. We are working with Healthcare companies to deploy Biva for their patients so they can keep control of all the treatment lifecycle at home. Biva focus on encourage selfcare in a positive way to improve it and make it sustainable over time. It allows patients to have contextual information about their selfcare requirements depending on their main medical conditions (not only in their medications), offering selfcare tips and contextual news. For caregivers it improves the information management doing care easier and detailed. |
| Solution: Describe your solution and product road map | Our problem is the level of mortality and the economic and health impacts of Chronic Diseases caused by the non adherence and the lack of self care practices. Accordingly to the World Health Organization (WHO), chronic diseases are the leading cause of death in the world, representing 60% of all deaths, where at least 40% of these are considered premature; they also represent the 75% of the total cost of healthcare in the world. Around 50% of the patients do not take medication as prescribed, this leads to increased morbidity and death, and is estimated to incur costs of approximately $100 billion per year. We studied and lived this problem as I'm a chronic patient too and we have had industry partners that have validate the problem and the impact of it (physicians, healthcare providers and pharmaceutical companies). Our road map is been focused on developing special modules on chronic diseases like COPD, Anticoagulation, Epilepsy, Diabetes, HIV, Oncology, and Glaucoma, all of them integrated with adherence management, telemonitoring and patient. |
| Market opportunity: Describe the opportunity. Include global market size, trends and risks. | Patients segments: 1. Older Patients (> 65 years old, 80% have more than one chronic condition). 2. Adult Patients 40-65, 3. Daily control Patients 25- 40. Caregivers segments: 1. Professional Caregivers (Institutions), 2. Relatives (Mainly 40-60 years), 3. Parents or children of older adults. Colombia: Population: 48M, people with medical treatments: 24M, Biva target market: 1M. Latam: Population: 605M, people with medical treatments: 302M, Biva target market: 13M. Our strategic opportunities are niches of customers mainly in Latam Region where there is no strong presence of competitors, and specialized customer groups mainly for chronic diseases in Latam. B2B: Healthcare providers needs to improve their ways to care their patients, we offer Biva as a platform health prevention and promotion programs. Our ultimate target customer is healthcare payers as we reduce therapeutic risks and reduce costs, in the same way, specialized healthcare providers that run patient's programs for payers and finally pharmaceutical companies that have adherence programs.
Final Users market: Market size (Colombia): Population: 48M, people with medical treatments: 20M, Patients inside special healthcare programs: 4,8M (Chronic patients). Biva target market: 1M * Market size (Latam): Population: 605M, people with medical treatments: 300M, Patients inside special healthcare programs: 60M. Biva target market: 13M. B2B Customers - Healthcare institutions market: Colombia: 375 target institutions with special healthcare programs (between healthcare providers, pharmaceutical companies and payers) Latam: Approx. 1975 target institutions with special healthcare programs. * Assumptions: We assume that Latam market has similar behavior than the Colombian market in terms of numbers of patients within healthcare programs and healthcare institutions. The source of Colombian market size is from government statistics around healthcare system coverage |
| Competitive Advantages: Describe your top competitors in Colombia and globally. Remember that there are direct and indirect competitors, so include both if relevant. Enumerate and explain your main competitive advantages. Include IP protection. | We have identified 2 types of competitors, the first offer traditional substitute services to our value offer, usually without the intensive use of technology for final users (patients), usually they are specialized in Healthcare Call Center services or personal follow-up to patients through home care staff. The second type are technology-based companies that develop “Digital Health” products oriented towards medication management or “Digital Therapeutics”. In the Latin American market, the company “Welii” has been identified, which has an App for medication management, but the strongest competitors are in the United States and Europe like this: Medication Management Platforms:
Digital Therapeutics Platforms:
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| Market fit: Describe how much your solution has been validated by potential customers and provide references that have tried or reviewed your solution. | Milestones
Currently: In B2C:
In B2B:
In process:
Future: Latam expansion (Ecuador / Mexico) |
| Strategy and plans: Explain your business model and go-to-market strategy. Include partnerships you are considering and your key performance indicators. | Business Model: B2B: Healthcare providers needs to improve their ways to care their patients, we offer Biva as a platform health prevention and promotion programs. Our main customer is healthcare payers as we reduce therapeutics risk and reduce costs, in the same way specialized healthcare providers that run patient's programs for payers and finally pharmaceutical companies that have adherence programs We charge a subscription fee to our B2B customers for each active user (patient) monthly that is using our platform to share information with them. Strategy: In Colombia, our market access model is based on a consultative sales strategy through the quality of segmented institutions that have specialized patient care programs, in which they can use our technology (platform) to improve indicators and the results, both clinical (medical) and financial. For this, we have defined direct contact channels through our own commercial force using channels such as telemarketing, referrals, specialized events, digital marketing and commercial allies that can complement or cross their value offer and reach the same customer segments. This strategy seeks to generate initial market validation and brand disclosure in the sector, to keep commercial expansion in Colombia and LatAm through more massive channels and strategic allies with high commercial presence in the sector as multinational pharmaceuticals. |
| Team: Describe your main team and ownership. Include brief bio of team members. | TEAM: Jaime Correa (Ownership 67%) is a Computer Science engineer with studies in design and development of Software for Health, he is the founder and CEO of Biva and he has 12+ years of experience in technological project management and 9+ years in Technological Product/Service Entrepreneurship. Daniela Perez (Ownership 15%) is the CMO with a master in Healthcare Business Management. Juan Agudelo is a Business Administrator and the Project Manager in charge of clients relationships and deployment, he works with Katherin Ospina our full-time user acquisition and retention agent. |
| Financials and Capital needs: Provide 3 years projections. Describe main milestones to be reached. | |
| Do you believe your business has an impact on your community? If so, how? This could mean an impact on your employees and their families, the people receiving your services, or the city/region overall by providing a service for the environment, health, or resilience, for example | Absolutely, because people with Chronic Diseases have multiple problems like Non-adherence to their medical treatments which has several causes, including forgetting, the complexity of treatments in number of daily doses, schedules, among others. Therefore, the people who are most difficult to maintain adherence are those who take many medications or whose treatments are very complex, including patients with chronic diseases, which are those of long duration and that are not curable, are more likely to have low levels of adherence, which causes many impacts on health and costs. For instance, if patients use Biva as a therapeutic management platform that integrates their adherence management and remote and personalized monitoring it will help to improve healthcare programs outcomes. |
| EntrepreneurId | 482 |
| ProjectName | BIVA SAS |
| Status | Enviada a los examinadores |