SeedCon Fast-Pitch Entry: Medko

Aljosha Novakovic

File 20270

Check it out: http://medkohealth.com/

The problem:

An estimated 8 million U.S "medical tourists" will travel abroad in 2012 for a more affordable medical procedure because of historically high prices in the states. They have no way of finding unbiased reviews of doctors and accurate info on pricing to aid them in their decision of which destination country to choose.

 

The solution:

MedKo. Yelp for Medical Travelers. There are over a hundred websites on the Internet with reviews of hotels, restaurants, and attractions, but what about the most important thing, our personal health?

A catalogue of international doctors and medical services, connecting health travelers to their best option depending on their budget and interests. Health Travelers can create profile pages, share before-and-after photos, interact with Doctors, and best of all... hear it from someone who's been in their shoes.

Medical Tourism is a 20 Billion Dollar Industry.

Why it matters:

9 Million Children in the United States are uninsured. Their families earn too much to qualify for Medicaid and too little to afford private insurance. It is a class in the U.S. known as the Working Poor and it is only growing. 

The Journey:

The inspiration for MedKo came when we were applying for Start-Up Chile. Our idea was to start a Health Travel (medical tourism) Agency with a unique spin on growth and its method for customer acquisition. However, during all our research we realized what the real problem is. People throughout the states are desperate for proper health care that they can actually afford. They are looking into going abroad more and more but have little to no way in finding genuine unbiased information. They have numerous sites for the accommodation - orbitz, airbednb, etc. for food- yelp, foodie, etc It's time to create a portal for something even more important - healthcare options that suit your need.  

I just moved to Chicago after graduating from UC Santa Barbara. I'm not a huge web developer, more of what people refer to as a "hustler," and in my hometown of Palo Alto I made it a point to immerse myself in the sea of successful entrepreneurs. The sort of entrepreneurs that will rip your "idea" into shreds, chew it up, and spit it at you, and then send you back to mommy with your tail between your legs. (I know from experience)

The more common response I get now is..."I think you're onto something"
 

After further research, number crunching, and market validation, turns out... I might be onto something. 

 

 

 

"About SeedCon: Hosted by the Entrepreneurship & Venture Capital student group and the Polsky Center for Entrepreneurship at Chicago Booth, SeedCon brings together leaders and innovators from the entrepreneurship and venture capital world to explore the most exciting and disruptive trends in the industry. For more information, visit www.SeedCon.com."

 

 

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Comments

Nick Kwan

Aljosha, I am glad to see you have developed the confidence to bring one of your ideas come into fruition after working under me for so long. Exists a looming trend of doctors' salaries being capped as well as difficulties with medical devices and pharmaceuticals getting federal approval. MedKo might be just in time to enter this space and help flatten out the health care industry. I wish you the best of luck and feel free to reach me if you need any extra support.

Michael Gauthier

You are catching a great, swelling wave of change in the way Americans, and others, seek out and take control of their own healthcare. This can be a great success - it will all come down to execution. Great idea, perfect timing, huge market.

nathan  jackson

i am very impressed by this article. there is a bright future in global healthcare and Medko seems to combine innovation with passion to create a unique service that is sure to disrupt the industry. best wishes in your efforts, the medical industry needs more companies like this

Sanja Gauthier

Medko seems to be an exceptional concept and platform: the next important frontier for information technology and social media is human body & health care, and this needs to happen at global level. There is no reason not to connect patients with the right doctors & medical procedures, even if they may happen to be ex-US. Medko is committed to do just that.

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