Q Why do you think efficiency is one of the key components to successful virtual care?
Pre COVID it wasn’t a focus of industry whether or not an organization could deliver virtual services, at scale, in a cost-effective manner. But that’s front and center today. Pre-COVID unit economics weren’t as vital.
I’m a classical businessman: the more volume, more business you do, you should ostensibly make more money. But some companies’ gross margins went down with COVID, and that’s not fundamentally a good core operating business. You wouldn’t invest in a railroad or airline that lost money the more passengers they took or flights they operated.
Right now, a lot of these companies are losing money on every visit. We are moving from a world where we did $10 million encounters to $100 million. Since COVID-19, we have seen increases as high as 3,600% in overall platform utilization. Until these companies can solve that challenge, their core units will struggle to onboard just 20% to 30% increased volume.
We want to know how to use virtual medicine to drive economic disruption and drive change. We are contemplating that change.
– Jon Pearce, Zipnosis CEO