CH

Curve Health Financial Model

Four-module platform branded "THE CURVE Model":

• Train - telemedicine best-practices interface for physicians and SNF staff; charting prompts to reduce fatigue and improve documentation quality.
• Connect - location-agnostic telemedicine enabling physicians to treat patients across multiple SNFs simultaneously; point-of-care lab/imaging (X-ray, EKG, urinalysis, telemetry) integration; 24–48-hour post-visit monitoring.
• Bill - proprietary telemedicine "Superbill" developed over 5 years; integrated with hospital billing systems; automates chart-to-claim workflow to reduce human error and accelerate reimbursement; also captures SNF comorbidity revenue.
• Predict - senior-care-specific algorithm using usage data for population health, resource planning, and 30-day readmission reduction.

Core claim: 50%+ reduction in hospital admissions from SNFs. Platform built on the Call9 telemedicine platform (acquired/licensed asset).

Partnership with IDEO for UI/UX and business design.

• TAM stated as $4B+ - no breakdown by sub-segment shown in the deck (no $ split between Hospital, SNF, and ALF rings on the nested-circle diagram).
• Post-acute space referenced as $163B - this is total post-acute expenditure per CMS 2016 data, not Curve's addressable software/services slice.
• Three concentric market rings identified: Hospital Opportunity (innermost/smallest), SNF Opportunity (middle), Assisted Living Facility Opportunity (outermost/largest) - no individual $ values visible on image.
• 2.1 million patients transferred to ED from post-acute facilities annually; two-thirds (~1.4M) deemed unnecessary.
• No SAM or SOM figures provided. No market growth rate cited.

Two pricing streams:

1. Hospital customers: Monthly fee + % of billing (revenue-share on telemedicine billings captured through the platform).
2. SNF customers: Monthly fee only (flat SaaS subscription).

• ALF (assisted living facility) channel mentioned as expansion opportunity; pricing not specified.
• No specific monthly fee amounts, % of billing rate, or contract length disclosed in the deck.
• Revenue cycle management (RCM) / billing automation is a core value driver; platform captures telemedicine fee-for-service revenue and supports value-based contract negotiation with payors.

Case studies from Call9 platform (predecessor):

• Case Study 1: 70% of patients avoided ED; SNFs made $944,882; payors saved $9,503,696 (pre-COVID). Awarded AGEM April 2017.
• Case Study 2: 70.2% of patients avoided ED; SNFs made $1,027,695; payors saved $10,336,663 (pre-COVID). Awarded NAEMSP August 2016.
• Case Study 3: 38.3% relative reduction in transfers; SNFs made $177,568; payors saved $1,785,993 (pre-COVID). Awarded SAEM May 2018.
• Peer-reviewed publication (West JEM, Oct 2020): only 27% of intervention group transported to ED vs. 71% of comparison group (OR for admission = 0.15).

No current Curve Health customer count, ARR, MRR, or live deployment metrics are disclosed. Traction figures are from the Call9 predecessor platform.

Not addressed directly. Implied moats:

• Platform integration depth: HIE + telemedicine + billing + analytics in one system creates switching costs.
• Clinical evidence base: peer-reviewed outcomes data (6 published/awarded studies) is a rare differentiator in digital health sales.
• Billing IP: 5-year-developed telemedicine Superbill optimised for national payors - not easily replicated.
• IDEO partnership: top-tier UX/design partner and access to healthcare system network.
• COVID tailwind: telehealth reimbursement restrictions waived, potentially doubling revenue opportunity; CMS administrator quoted as saying "the genie's out of the bottle" on telehealth reimbursement.
• No competitive landscape matrix or named competitors shown.

Team:

• Rob MacNaughton - CEO (named "Top 50 Healthcare Technology CEOs of 2020")
• Tim Peck, MD - President & Executive Chair (founder; lived in a nursing home for research)
• Cheryl Porro - CTO
• Nicole Greene - SVP Product & Operations
• Erika Green - Head of Clinical Operations
• Garrett Gleeson - Head of Corp Dev + Communications
• Call9 Software Development Team (inherited)
• Strategic Advisory Committee; Clinical Operations Experts; IDEO Business Design & Healthcare Experts

Funding ask: $5–6M Seed Round.

Use of funds (two buckets, no % or $ split given):

• R&D: HIE optimisation, EMR integrations (Epic/Cerner, PointClickCare/Sigma/Matrix), hardware integrations, AI/ML for predictive analytics.
• Expansion: sales execution on existing pipeline, exec team build-out, IDEO UI/UX rollout at scale, RCM optimisation, customer success.

• Archetype + why: B2B SaaS + RCM revenue-share hybrid. Curve has two distinct revenue legs - a recurring monthly fee (pure SaaS) and a variable % of billing (usage-based / RCM). This requires a model that tracks both streams separately against a facility-count ramp. Closest archetype: SaaS ARR model with a parallel RCM/variable-revenue layer, not a pure ARR model.

• Forecast horizon & granularity: Monthly for Year 1–2 (seed deployment phase); quarterly for Years 3–5. 5-year horizon total. Monthly granularity needed to model sales cycles, go-live lags, and cash burn against the $5–6M raise.

• Key drivers & assumptions:

*Facility growth:*

• Hospital logo count - Year 1 end
• SNF logo count - Year 1 end
• ALF expansion -
• Monthly churn rate per facility type

*Pricing:*

• Hospital monthly fee
• Hospital billing share (%)
• SNF monthly fee
• Average telemedicine billings per hospital deployment/month

*Clinical / operational:*

• Average % ED avoidance achieved
• Implementation lag (contract to go-live)

*Costs:*

• COGS: primarily customer success / clinical operations headcount + tech infrastructure
• S&M: enterprise health system sales is expensive -
• R&D / engineering: Call9 dev team inherited -
• G&A: CEO, CTO, CFO-equivalent, legal

*Funding:*

• Seed raise: $5.5M midpoint
• Runway target

• Scenarios (Base / Bull / Bear - which variables flex):
• Base: 5 hospital + 15 SNF logos by end of Year 1; 20% MoM logo growth in Year 2.
• Bull: COVID telehealth waiver becomes permanent, doubling reimbursement rates; 10 hospitals + 30 SNFs by end of Year 1.
• Bear: Enterprise sales cycles slip to 9–12 months; reimbursement waivers expire; 2 hospitals + 8 SNFs by end of Year 1; requires bridge capital.
• Key flexed variables: sales cycle length, reimbursement rate (% of billing), hospital logo count, gross margin.

• Required sheets / outputs:

1. Assumptions - all drivers in one editable block (hospital price, SNF price, billing %, churn, headcount plan, raise timing).
2. Revenue build - separate waterfall for (a) SaaS MRR (hospitals + SNFs) and (b) RCM variable revenue (hospitals only), consolidated to total net revenue.
3. Headcount & OpEx - by department (R&D, S&M, G&A, Clinical Ops).
4. P&L (Income Statement) - monthly Y1–Y2, quarterly Y3–Y5.
5. Cash flow & runway - monthly burn, cumulative cash, months of runway vs. raise.
6. Scenario toggle - dropdown or input cell to switch Base / Bull / Bear.
7. KPI dashboard - logo count (hospitals / SNFs), ARR, net revenue, gross margin %, burn rate, months of runway.