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CueMed V2, Personal Growth Opportunities, CueMed Necessities, Pilot Pulse,…
CueMed V2
CueMed
$320K + X funding ; 6 investors
Extremely slow execution; CoFounder Conflicts;
Adherence -> Adherence + GDMT -> Devices + RPM/CCM/GDMT -> RPM/CCM/GDMT + Clinical Monitoring Service -> Cardiology Virtual Clinic
Lack of clear direction and domain knowledge
Leadership/Employee Performance
Registered in 2024
Designs for RPM/CCM/GDMT/Patient App.
1 potential Customer: ARR Potential: $1M
Proven Revenue Model
Clinical Operations Lead - Lauren?
Cardiologist: Glenn Gandelman?
TEAM: VBC Sales Lead?
TEAM: CTO (Healthcare AI focus)
Co-pilot for cardiology - Human and Tech Capital. Virtual First Clinic with Healthcare AI workflows that assist in the clinic operations
Capital Needs: $2.5M
Personal Growth Opportunities
Being able to build functional teams with the right expertise, motivation and incentives
Provide critical feedback to partners, peers and employees often, at the right time and when necessary rather than putting it off.
Be sure footed, take decisions and follow through
Do not mix personal vs professional. Stay professional at all times.
Time Management needs to be prioritized and is critical
Be Happy. Be Proud of your accomplishments. Be Bold and Confident.
Dont drag your foot. Do. Delete. Delegate. Delay.
CueMed Necessities
Functional Team (CEO, Physician, CTO, Clinical Operations, VBC/Clinic Sales, UX Designer, Developers [2], Nurses [X], Tech Support [1])
Customers - Pulse Physicians, Aultman, Olympic Medical Center, Confluence Health, Vanderbilt
Investors
Revenue
Clear Differentiation Strategy
Business Model
Financial Model/Break-Even
Pilot Pulse
Motivated to increase revenue
Need to build trust
Large account size; but no upfront commitment from the customer
Policies on Billing, Payments
Clinical protocols
Patient Empathy
Concerns
Is the entity too old?
It takes time to get things going with digital health
Questions will come up either way about what was done with the funds. (if you re-incorporate but want to try to keep the investor money open)
Not too old. You can say - we were bootstrapped all this while and now we want to fast-track it.
Review terms with cofounder agreement and stock purchase. Renegotiate.
Does it make sense to continue working on this problem? Only 1 Customer at this point.
Investors will want to see multiple customers
Share about customers in the pipeline
How can you crack the code on customer acquisition?
Smaller amount of angel funding; get to 10K MRR;
How will you show that things will be different from now?
What is the right way to share why it took so long to get from A->B
Options
Merger with Codex Health
Close CueMed; Get a job
CueMed v2
Look at other M&A options
Legal/Admin
Get valuation done for CueMed
How can we retain investor contributions? And employee contributions?
Renegotiate equity for Lenny. What is the appropriate amount for inactive cofounders?
renegotiate terms with WSGR