Niche: Healthcare

Monetization: Digital Product, Membership Model
Location: United States
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  • #5162407

    Listing Number

  • $3,200,000

    Listing Price

  • $48,755

    Monthly Revenue

  • $45,880

    Monthly Net Profit

  • 24.96%

    Cashflow Volatility

  • 17.20%

    Cash Yield

Listing Summary

Today's healthcare professionals are seeing a growing number of patients with diverse cultural backgrounds and understanding their healthcare beliefs or practices enable more effective treatment plans resulting in the best health outcomes possible: Those which consider the patient’s world view. To meet this need, our product was developed.

What does your business do?

Our website was created in 2007 as the first comprehensive, user-friendly database that gives healthcare professionals access to culturally competent patient care. The product has been used by almost 90 clients in the past 13 years to improve the quality of care and equity by providing easy-to-use access to a wide spectrum of information on over 70 ethnic, religious, and other community groups.

Highlights

Our tool can assist an organization in meeting guidelines outlined by the Culturally and Linguistically Appropriate Services (CLAS), National Committee for Quality Assurance (NCQA), and the Standards and Indicators for Cultural Competence in Social Work Practice, increasing the potential for the following benefits for patients:

• Improved quality of care - Access information about the prevalence of diseases within certain populations and provide guidance in understanding cultural influences on what patients believe will make them well.

• Reduced disparities - Identify impact of cultural issues on medical decision making and limit inadvertent bias in diagnosis and treatment.

• Improved patient satisfaction - Providers identify questions to ask that will yield better health incomes.

How does your business make money?

Though this product has not been marketed actively, it historically has generated over $600,000 in annual subscription revenue, with a Net Cash Flow of over $500,000 annually. The maintenance costs are minimal, and the market potential is significant.

Client Retention – Our website has experienced significant customer retention over time. In 2020 and 2021, there has been a total of 52 clients - Subscription renewals occur throughout the year so current client count will vary at any given point in time. Note the following based on the graph below, which depicts the tenure of the client base. • The average subscription history is 7.4 years. • Of all clients, 66% have subscribed for 5 years or more. • The product has been used in almost 90 hospitals and healthcare organizations in the past 13 years. Note: Financial data for 2021 is projected.

  • Business Created

    January, 2007 - (14 years 9 months old)

  • Assets Included in the Sale

    The following are included in the sale of this business:

  • Domain
  • Website files, source code and content

Fih.com's BRAG Rating

7.10/10
Breakdown of Ratings
  • Brand Reputation
  • 1.50/2.5
  • Risk Profile
  • 1.70/2.5
  • Asset Value
  • 1.90/2.5
  • Growth Potential
  • 2.00/2.5

Earnings

Revenue:
  • Average Revenue: $
  • Total Revenue:  $
Profit:
  • Average Profit: $
  • Total Profit: $

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Other Information

Seller Support Includes

Reason for Sale

Traditionally, this product has been promoted as an add-on to the core consulting and educational services offered. As the result of recent strategic planning efforts, we have determined that maintaining and enhancing the product does not align with our current priorities, and therefore desire to sell the product to a form that wants to further the capabilities of the product and expand the market share.

Buyers Profiles

Frequently Asked Questions

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