Investing in Health: VITiaCARE’s Personalized Healthcare Ecosystem Addresses $520 Bn for Non-Adherence

By Spencer Hulse Spencer Hulse has been verified by Muck Rack's editorial team
Published on May 16, 2024

Not filling prescriptions, skipping doses, missing appointments, and not following the doctor’s treatment plan are all common issues in the healthcare industry. Non-adherence is a significant concern across healthcare as it can lead to worsened health outcomes, increased healthcare costs (The yearly financial burden of illness and death resulting from inadequate medication adherence amounts to $528.4 billion), and unnecessary complications or hospitalizations.

Why people fail to adhere to their prescribed treatment ranges from ​​just plain forgetfulness to complexities like regimen, cost, and side effects. Also, people often lack a full understanding of the treatment, and others have social/cultural factors or fears that steer them away from doctor’s orders. Overcoming these barriers requires personalized approaches, education, support systems, and modifications to treatment plans to suit individual needs.

That’s where Fernando Silva’s VITiaCARE solution answers the call. VITiaCARE is a personalized healthcare ecosystem that was developed to address the issue of medical treatment non-adherence. Through AI insights and a rewards system, VITiaCARE empowers patients with chronic conditions to take control of their health by simplifying access to their health ecosystem and providing personalized health plans. The platform facilitates interaction with healthcare providers, offers virtual health coaching, and provides health reports to help users improve their conditions. The platform also aims to educate patients about their conditions and medications by providing answers to common questions and continuous learning through its AI algorithm.

Central to VITiaCARE’s approach is its rewards system, where users earn points for adhering to their treatment plans, refilling prescriptions, booking appointments, and much more. These points can be exchanged for a variety of incentives, ranging from Starbucks drinks to free medications. The platform’s business model is able to generate revenue through partnerships with various businesses within its coalition, which contribute to profits by attracting customers through the loyalty program.

Fundraising, an MVP, and Partnerships

Since its inception, VITiaCARE has made significant strides. With a previous round of funding totaling $180,000, the company focused on enhancing its product features and developing its MVP. Silva adds, “We needed a development engineer, so he was our first hire. Now our MVP is available in both Google Store and Apple Store.” In their next funding round, Silva aims to raise $124,000 to further enhance their product and expand its strategic partnerships.

One of VITiaCARE’s current pilot partnerships is with a Monterrey pharmacy chain that has over 50 stores in northeastern Mexico. With these partnerships, Silva and his team hope to learn from initial experiences in order to successfully expand into the US market.

“This partnership helps us to mitigate risks and establish a foothold in a very controlled market under the Independent Pharmacy Association. Then we can apply it to the US market.” This pilot program will also generate some initial revenue for the team through commissions from pharmacies and points awarded to users, and most importantly, it will provide the data and proof of concept they need to procure future investments and continue to scale.

Silva shares that they have learned a great deal. “Our experience with this pilot has highlighted crucial aspects such as contract negotiations, financial arrangements and inventory system integration that they have to put in place. For instance, instead of centralizing deliveries from a warehouse, we now link directly to individual pharmacy inventories to avoid logistical issues.”

To further mitigate risks, Silva has restricted sensitive information access to a small patient pool to ensure that VITiaCARE complies with HIPAA regulations when they go to market in the US. And with the MVP ready and partnerships established, Silva can begin to focus on logistical preparations, including training pharmacy staff and printing promotional materials.

“We will need to train the people behind the counter, so when patients come, they can tell them, ‘Hey, we have this partnership with VITia; we have this loyalty program with them. Would you like to learn more about it? And they will be handing out some brochures and be able to explain that to them,” says Silva.

Silva shares, “We are also gearing up for a comprehensive launch event in the next two to three weeks, featuring proactive promotion of our app through various channels, including in-store materials and digital QR code downloads.”

Then More Fundraising

With all logistics in place, VITiaCARE aims to attract further investment and solidify its position in the healthcare sector. The additional funding will go towards creating continued awareness around their solution, not only for potential users and partners but also to target executives in the pharmaceutical industry and in the insurance industry. 

“The next round serves as a stepping stone towards a larger funding round, aiming to protect early-stage investors from further dilution.” Silva notes, “Once we showcase the positive impact on patients in the pilot and we receive testimonials from doctors, we plan to pursue a bigger funding round within the next twelve months. In this larger round, we anticipate trying to raise between $500,000 and $1 million, depending on our valuation and the traction we achieve.” 

Future Goals

Silva and VITiaCARE also aim to acquire at least one additional customer or partner by the end of the next twelve months to bolster traction. “The ultimate goal is to reach 1000 patients and achieve $9000 in monthly recurring revenue, setting a clear trajectory for our growth and success.” VITiaCARE stands at the forefront of something new and potentially brilliant in healthcare innovation. It could change treatment adherence and, ultimately, patient outcomes. With its robust platform, strategic partnerships, and clear vision for the future, VITiaCARE is on the right path toward a healthier tomorrow for all.

By Spencer Hulse Spencer Hulse has been verified by Muck Rack's editorial team

Spencer Hulse is the Editorial Director at Grit Daily. He is responsible for overseeing other editors and writers, day-to-day operations, and covering breaking news.

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