9898point6 Financial Model
Health-tech Startup Financials (Free Excel Download)
B2B SaaS platform licensing an AI-powered virtual care technology stack to health systems, pivoted from running a direct-to-employer virtual clinic.
professionals from Deloitte
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About this model
98point6 licenses an AI-powered virtual-care technology stack to health systems and delivery organisations. After operating a direct employer-focused clinic, it shifted toward an enterprise software and care-enablement model that lets institutional customers deploy virtual care under their own programmes.
Health systems can begin with selected populations and expand through more providers, covered members, enterprise accounts, and clinical functions. The commercial relationship is recurring and value-based rather than consumer subscription-led, while implementation and integration shape the pace at which contracted revenue becomes active.
The model forecasts health-system logos, contracted ARR, covered-population expansion, feature attach, renewals, and churn. It separates implementation and support capacity from recurring software revenue, then tests multi-year contract timing, sales productivity, clinical delivery costs, gross margin, operating burn, and runway.
A turnkey financial model
Live formulas, no hardcoded values
Outputs are driven by live formulas, so the workbook updates from its assumptions instead of relying on hardcoded results.
All assumptions in one tab
Inputs are clearly marked in the Assumptions tab and separated from calculations, making it clear what to change and what to leave intact.
Statements always balancing
For integrated-statement models, the balance sheet, cash flow, and supporting schedules tie through properly.
Distinct schedules for clarity
Debt, working capital, taxes, and cash flow can get messy quickly. We group calculations in clear schedules, not across disconnected tabs.
No hidden macros or external links
There are no unexplained external workbook links or macros to undermine auditability or portability.
Changes flow through the model
Update a key driver and see the impact carry through the forecast, financing, and return outputs. We never use hardcoded numbers in formulas.
About 98point6
How to build a detailed financial model for 98point6
A complete walkthrough of the business, drivers, and assumptions behind the downloadable 98point6 model - distilled from its pitch deck and publicly available information.
Product & value proposition
- AI/ML-powered virtual care platform (Clinician Console + Automated Assistant chatbot + SDK) licensed to health systems.
- Text-first, mobile-based, asynchronous care delivery - embedded into health system's own branded patient portal.
- Key modules: EMR integration, scheduling, documentation/charting automation, evidence-based algorithmic practice standards (5 conditions deployed; ~35% of all visits), ML/AI chat bot reducing clinician data-gathering time from 100% to <20% of visit.
- SDK allows white-labeling so health systems retain their brand.
- Value levers for health system buyers: reduce provider burnout, optimize physical footprint (~20% daily excess capacity at single location), generate specialty/in-patient referrals, reduce ER/urgent care walk-ins.
Market
Contextual framing only: COVID-19 accelerated virtual care adoption; Amazon and PE-backed competitors entering primary care; health systems face negative ambulatory/primary care margins.
Revenue model
- Primary model: SaaS licensing fees paid by health systems and healthcare delivery organizations.
- Structure: Select populations, value-based model (vs. prior employer/health-plan membership model).
- Expansion levers cited: provider growth, enterprise additions, feature/function buy-ups.
- No specific pricing tiers, per-seat rates, per-visit fees, or contract values disclosed in deck.
Traction & metrics
All from slide 6:
- $250M+ invested (cumulative, over 6+ year history)
- 3M+ users served
- 300+ clients (from prior clinic model; technology licensing traction separate)
- 95% all-time client retention rate
- Avg 4.8/5.0 in-app patient satisfaction rating
- 500,000th text-based visit completed Feb 2023
- First technology licensing agreement signed May 2022
- Care delivery business sold to Transcarent Mar 2023; company reincorporated as 98point6 Technologies
Note: The 3M+ users / 300+ clients figures relate to the old clinic model, not the new SaaS licensing business. Technology licensing traction (number of health system contracts, ARR) is not disclosed.
Unit economics
- >65% of patients access their Care Plan or chat transcript post-visit (engagement metric)
- Practice standards cover ~35% of all visits; >74% physician agreement rate
- Active clinician time: line chart (slide 18) shows industry average ~20 min flat (2017–2024); 98point6 Actual dropped sharply from ~30 min in 2017 to ~5 min by 2019–2020; Forecast continues near ~0–5 min through 2024
- Doctor questions reduced from 100% to <20% via automation
Competition / moat
Competitive threats named: Amazon, PE-backed virtual care entrants.
Moat claims:
- 6+ years of proprietary clinical operations data used to train ML/AI and build practice standards
- $250M+ already invested in technology hardening
- 95% historical client retention
- Decoupled platform (build vs. buy vs. strategic collaboration framing: health systems lack time/expertise to build, no purpose-built solution to buy)
- Non-competitive positioning: 98point6 Technologies does not compete in care delivery
Team & funding ask / use of funds
Note: deck is marked "internal & confidential" - likely a pre-sell or strategic partnership deck, not a public fundraise deck.
Recommended financial model
- Archetype + why: B2B SaaS ARR model. Revenue is recurring SaaS licensing from health systems; expansion revenue comes from add-on features and provider seat growth. Standard SaaS cohort + ARR bridge is the right structure.
- Forecast horizon & granularity: 5 years (Year 1–5), monthly in Year 1, quarterly in Years 2–3, annual in Years 4–5. Monthly granularity needed in Year 1 to track early contract ramp.
- Key drivers & assumptions:
| Driver | Value / source |
|---|---|
| Starting ARR | Unknown - first license signed May 2022 |
| Logo churn | 95% all-time client retention in old model |
| Path to profitability | Cited as key objective |
| Implementation/onboarding revenue | SDK + EMR integration suggests meaningful services component |
- Scenarios (Base / Bull / Bear):
- Bear: Slow health system sales cycles (1–2 logos/year); ACV at low end ($500K); NRR at 100% (no expansion)
- Base: 3–8 new logos/year; mid ACV (~$1M); NRR 110%
- Bull: 8–15 new logos/year; high ACV ($1.5–2M); NRR 120%; M&A from a large EHR or health plan
- Required sheets / outputs:
- Assumptions dashboard (all drivers, color-coded, toggleable)
- ARR bridge (New ARR, Expansion ARR, Churned ARR → Net ARR)
- Cohort waterfall (by logo year, track retention + expansion)
- P&L (Revenue, Gross Profit, S&M, R&D, G&A, EBITDA, Net Income)
- Cash flow & runway (burn rate, cash on hand, months to breakeven)
- KPI summary (logos, ACV, ARR, NRR, Gross Margin %, CAC, LTV, LTV/CAC)
- Scenario toggle (Base / Bull / Bear)
Frequently asked
Is the 98point6 financial model free?+
Yes. The 98point6 model is a free Excel (.xlsx) download with live formulas. Sign up with your email and the workbook is yours to keep, review, and edit.
What's included in the model?+
A 5-year monthly forecast with P&L, cash flow and runway, valuation (exit multiple plus a DCF cross-check), MOIC/IRR returns, and unit economics, with live formulas throughout.
How was this model built?+
It was built from 98point6's pitch deck and publicly available information, then structured to investment-banking standards as a fully editable Excel model.
Can I change the assumptions?+
Yes. You can change assumptions and the live formulas will recalculate in the downloadable Excel model.
Have more financial modelling questions? Contact us
Created by ex-finance professionals
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