XRHealth Virtual Clinics offer at-home medical and therapeutic treatments through Virtual Reality (VR/AR) and digital health technologies. XRHealth integrates immersive VR/AR technology, licensed clinicians, and advanced data analytics on one platform, providing a comprehensive therapeutic care solution for patients to receive treatment from the comfort of their home.
Reasons to Invest
- XRHealth has generated over $1 million in revenue YTD and treated over 2,000 patients. QoQ growth has been 40+% in 2021. With $20M raised to-date from crowdfunding, angel investors, AARP, VCs, and grant-making institutions, we have demonstrated success in fundraising. With this new funding round, we believe we will be able to maintain this robust growth trajectory.
- Unique Technology in a Large Market: The fast-growth Telehealth Market is predicted to reach a value of $70.19 billion by 2026. XRHealth VR/AR Medical technology generates valuable objective data points and allows telehealth clinicians to tailor individualized treatment plans for each patient. We are protecting our VR/AR telehealth intellectual property through the pursuit of 21 patents (3 approved).
- Patient Satisfaction and Clinical Outcomes: We have strong patient satisfaction, evidenced by XRHealth NPS (Net Promoter Score) of 74 (vs healthcare market average of 38) with 72% of patients agreeing we made a positive difference in their symptoms in under two weeks.
Overview
Bringing Patient Care into the Future
XRHealth is pioneering the field of Virtual Clinics, utilizing proprietary FDA-registered medical virtual reality (VR/AR) applications to deliver the care patients need to the comfort of their own homes.
We integrate immersive VR/AR technology, licensed clinicians, and advanced data analytics on one platform, providing a comprehensive therapeutic at-home care solution.
XRHealth focuses on three main therapeutic areas: pain management, neurological disorders, and behavioral health. We also sell our technology to providers, hospitals, and rehabilitation centers.
The Problem
Current Telehealth Technology Provides Limited Treatment
In the post-COVID world, in-person outpatient clinics are not an option for many patients, including immune-compromised people and those residing in remote locations.
Chronic conditions such as Parkinson’s Disease, Multiple Sclerosis, TBI, Fibromyalgia, Chronic Pain, Stress and Anxiety, etc require constant therapy from multiple disciplines alongside real-time data analytics to manage fluctuations in patient status.
Many of these patients need and expect at-home care, but existing simple video tools like Zoom and basic chat correspondence do not allow full visibility or insight into the patient’s at-home treatment and progress.
THE Market
A Major Growing Industry with Impact Across Healthcare
The telehealth market is estimated to grow to $70.19 billion by 2026, from $26.4 billion in 2020 at a CAGR of 17.7%. The pandemic doubled the number of people who have used telehealth from 39.4% pre-COVID-19 to 79.5% post-quarantine.
Our services meet the specific needs of the following patient markets:
- The $3.8 trillion chronic and mental health conditions market
- The $65.1 billion pain management market
- The $22.5 billion global stroke management market
- The $22.99 billion global multiple sclerosis (MS) therapies market
- The $17.2 billion global stress management treatments market
- The $10.89 billion global anxiety disorders and depression treatment market
- The Parkinson’s disease market projected to reach $11.5 billionby 2029
- The Autism Spectrum Disorders market projected to reach $4.53 billion by 2026
- The $3.4 billion global digital therapeutics market
THE Solution
Using Virtual Reality to Deliver At-Home Treatment
According to our research, XRHealth is the first company to use VR-enabled telehealth to change how we treat patients.
Our platform combines immersive VR/AR technology with telehealth services, licensed clinicians, and advanced data analytics for an all-in-one innovative telehealth solution for patients in the comfort of their own homes.
Our mission is to provide:
Accessible care for all
Patients feel better from the comfort of their home, and we are covered by most insurance providers.
Engaging Experiences
We provide our patients with enjoyable treatments that feel like less work and more fun. Patients use text & video to chat with the clinician, who guides and monitors their treatment in real-time, adjusting therapy remotely in the VR/AR headset.
Transparent Results
Patients are able to track their own progress using the mobile app to see how they improve and restore function over time. Most patients experience positive results after just one session.
Why VR/AR in Healthcare?
We have found that the immersive, engaging and fun nature of VR/AR drives significantly higher adherence to home exercise plans, leading to better patient outcomes, reduced re-hospitalization rates, and overall reduced healthcare costs.
It also enables full body motor and cognitive training capable of addressing a multitude of chronic conditions. Our technology generates 100% objective data from each treatment session, allowing us to tailor the treatment to each patient and maximizing functional progress.
Meanwhile, Data Analytics of chronic condition treatments enable us to improve upon current gold standards for patient/drug clinical outcomes.
How Our Business Works
XRHealth started as a B2B company, selling our products to hospitals, clinics and rehabilitation centers. Our B2C model was officially launched in the form of our virtual clinics in 2021.
Virtual Clinics (B2C)
Our virtual clinics provide at-home treatment for our patients through this simple process:
1. Patients sign up for XRHealth services, usually through three main channels: digital marketing (D2C), self-insured employers, and referring physicians.
2. Patients complete an initial comprehensive evaluation over a video call with one of XRHealth’s licensed clinicians and are sent a Telehealth VR/AR kit (on loan) preloaded with VR/AR Medical applications and a custom treatment plan.
3. Telehealth sessions are held twice a week.XRHealth clinicians use the External Control app to control the patient’s VR/AR headset remotely.
4. Patients use the Mobile App to track progress and chat with the clinician. The clinician monitors patient progress using the Data Portal and adjusts the treatment plan as needed; in-between video sessions, and while the patient is following the treatment plan at home.
5. Patient’s progress reports are shared with PCP or with specialists as needed, and the patient’s insurance company is billed for the service.
XRHealth Products (B2B model)
In our B2B model, inpatient and outpatient facilities partner with XRHealth to expand their skilled therapy and rehabilitation services. We generate revenue throughout the process:
1. XRHealth installs a state-of-the-art VR station (hardware + software) in the partner’s facility.
2. XRHealth trains the partner’s clinicians to optimize patient outcomes and maximize revenue.
3. XRHealth collects a monthly license fee for use of XRHealth Products.
Our Traction
XRHealth virtual clinics are fully operational and already generating revenue. XRHealth has 50 Million Covered Lives in the US alone, and we have already treated over 2,000 patients. We are growing fast – revenue in Q1-Q3 of 2021 is $1.1 million, a huge increase from a total revenue of $400K in 2020.
We have four fully operational virtual clinics: two in the US (Massachusetts, Michigan, opening a 3rd one in Florida by the end of this year) as well as Australia and Israel. We have logistics centers and dozens of certified clinicians supporting patients in all 3 geographies, including PTs, OTs, Social Workers, Speech Therapists and Psychologists.
We have filed 21 patents for technology, with 3 approved, 14 published, and 4 pending. We also have 8 FDA registeredVR/AR Medical Applications and 14 clinical trials running in parallel.
Real world evidence from patients is showing promising clinical outcomes. Our patients demonstrate 91.2% adherence to their home exercise plans, a huge increase from the healthcare market average of 50%. (Source). With a +74 Net Promoter Score (NPS), we have extremely high patient satisfaction compared to the healthcare market average of 38 NPS. (Source)
Why Invest
A Vision for Improved Treatments and Better Outcomes
We believe XRHealth can dominate the fast-growing Outpatient Chronic Conditions Care Market globally, serving tens of thousands of patients across multiple care verticals.
We are changing the way patients are treated. Upon finalizing current clinical trials, XRHealth plans to register its medical VR/AR applications as Digital Therapeutics (DTx) for multiple chronic conditions in three main therapeutic areas: pain management, neurological disorders, and behavioral health.
To date, the prevailing treatment for these chronic conditions is medication, which can be addictive, expensive, and a source of side effects. Digital therapeutics provide patients a drug-free engaging experience at substantially lower payer costs.
XRHealth is in a pivotal moment of growth, as we are on the cusp of our full-scale national rollout. We believe in accessibility to all, not only in our services but also in allowing the public to invest and take part in this journey from a very early stage.
Join us as we harness technology and data to provide better clinical outcomes for patients from the comfort of their homes.
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