INVEST $25K FOR PRO RATA RIGHTS.
Investors who fund the first $100k of this fundraise will invest at a $4M Valuation Cap.
Limited edition Kumba Health medical scrubs (shirt).
Annual shareholder call.
Kumba Health gives consumers more control over their healthcare with upfront prices, while removing insurance from the equation. It’s the perfect complement for those with high-deductible and HSA plans who want to know the cost for services in advance and reduce their out-of-pocket costs. Since 90% of Americans never reach their deductible, paying direct results in significant savings for healthy consumers. We also serve as a lead-gen service and assured-payment platform for doctors.
Healthcare is complicated, with both doctors and patients having to jump through hoops just to schedule for a procedure they need. At Kumba Health, we believe you don’t need the extra headache. In the next 5 years, we want to build Kumba Health into a nationwide online brand known for transparency and direct payments for medical services. Our goal is to connect millions of Americans (who have HDHPs, are uninsured or are underinsured) with a network of 20,000+ quality healthcare providers.
Patients must search for providers who accept their insurance plans and doctors have to communicate with several different insurance options. And payment for both parties is tedious: patients have no idea how much their insurance will cover and doctors don’t have the time to hassle clients into fulfilling their financial responsibility.
So far, there’s no seamless online solution that allows patients to shop for healthcare providers—and similarly, no way for physicians to easily market themselves to potential patients. Kumba Health is that digital solution. Kumba Health balances the supply and demand of healthcare, no pesky insurance third party required.
Cutting out the middle-man allows doctors to minimize costs and provide their patients with lower rates on services and procedures.
No hidden costs ensure you know upfront what you’re paying for. Kumba eliminates the convoluted insurance system, EOB’s, and aggravation.
Prioritize your health. Doctors prefer to deal with Kumba patients instead of dealing with the insurance companies and paperwork involved.
Kumba Health allows patients to find doctors willing to publish their cash prices, and allows doctors to find patients interested in paying cash. People without insurance or with high-deductible plans can use Kumba Health to see prices, shop around, and go to an appointment knowing what it’s going to cost.
More people want the convenience of booking and paying for their appointments online, and crave price transparency. (No one wants to be surprised with a massive bill after a doctor’s visit.) Kumba is perfect for any patient that is looking for a way to manage their healthcare costs.
100 mm
Americans with high deductible insurance plans
75 mm
growing 1099 freelance economy
39 mm
uninsured or underinsured Americans
Projections are dependent on variables outside of our control and may not materialize as displayed.
Started execution with investments from founders.
Proprietary Kumba Health platform launched with 50 quality providers.
100+ quality providers.
Prepayment system roll out with great success rate for participating doctors.
Implement provider self-sign up campaign.
Own our own backyard: thorough coverage in Southern California (400-500 providers).
1,000 monthly prepayments booked.
Successful entry into second major US city (250 providers) by Q2 2018 (1,000 total providers nationwide).
Transparency and simplicity in medical care shopping is the new mandate. In the era of insurance based health access, individuals will grow increasingly confused and yearn for simplicity. “What does it cost?” will be something we need to answer. Kumbahealth is poised to answer that question best. Kumba incentivizes providers to provide simple, affordable services—end of story.
I am excited about Kumba because I see this in my daily practice. Conversion rates are highest when patients have piece of mind that there are no surprise bills. Ambiguity stifles forward progress and completion of a diagnostic and treatment plan. When we started offering simplified Kumba cash-pricing, our new patient conversion grew significantly. Existing patients who have insurance coverage often opted for simplified payment too. Customer satisfaction was highest with pre-pay. Often patients are most dissatisfied when they received insurance EOB’s and bills months later (even after a successful health outcome).
We see these efforts at transparency in the mortgage market, the financial advising market, and I anticipate this being the future norm on health care financing as well. Kumba anticipates this trend and intends to establish this market first. I am a proud investor in this company and I hope that you will join me.
Sincerely,
Leo Treyzon, M.D. Cofounder and Chief Medical Officer
Dr. Leo Treyzon