While smart phone App for ordering food, online shopping, booking hotel rooms or cars exist, there is nothing for the medical service such as booking a hospital. Hence this is what we decided to do; create a smart App where patients can easily search-inquire and book a hospital for treatment anywhere in the world.
Global healthcare market for 2015 is US$3.7 trillion, Koreas share at US$600 million with 300,000 medical tourists visiting the country.
Major hospitals around the world rely heavily on referral agencies for international patients.
The smart phone App and hospital platform developed by Coints will help reduce the dependency of the hospitals towards these agencies while creating a larger pool of medical service providers for patients seeking to go overseas for treatment. The backbone of the App, is the abundant data which will provide a quick and efficient response to patients inquiry enabling them to make a selection and reserve a hospital.
Hospital personnel will be less burdened with the task of responding to inquiries from patients which in most cases are dead ends.
Income for the service is through the patients making the reservation and from the hospitals commission which stands at an average 15~20% from the medical spending.
Currently, commissions transferred to referral agencies from Korean hospitals average US$120million per year.
Coints is the only startup in Korea to have successfully raised investment from the Middle East at an early pre-development stage with a valuation of US$5million, an amount of US$300,000 at US$900/share.
Currently, medical service providers from around the world are seeking to list their hospitals and market it through our App. Such will help patients to directly inquire and the hospitals without the worry of agencies referring them to the highest commission paying hospitals.