Oct 10, 2024

The Pitch Deck

Mark BULLIES Rolodoc Owners With Their Poor Presentation

Summary

Medical Communication Innovation

Rolodoc aims to revolutionize medical communication by replacing outdated 1980s pagers with a secure email system and mobile app for instant messaging between patients, physicians, and medical professionals.

The platform enables personalized connections between doctors and patients, allowing for targeted advertising and patient acquisition, but raises concerns about liability and security risks.

Business Model and Development

Rolodoc is in alpha testing with 50 users, primarily doctors and their connections, but faces skepticism about its scalability and monetization strategy.

The Sharks expressed concern about Rolodoc's unclear business model and the founders' lack of preparation in explaining how the company generates revenue.

Social Media in Healthcare

Rolodoc's attempt to bring social media features to the medical profession, allowing doctors to brand themselves and advertise services, is viewed as a potential liability nightmare due to issues with vetting doctors and ensuring platform security.

Timestamps

00:00 Rolodoc, created by two physician brothers, aims to modernize medical communication with secure email, seeking $50,000 for 20% equity.

00:50 A mobile app enables instant messaging between patients and doctors, aiming to transform medical communication and eliminate outdated pagers.

01:47 Mark critiques the Rolodoc owners for their unclear presentation and questions how their social media integration will improve the medical profession's current communication challenges.

03:01 Doctors are encouraged to create profiles on Rolodoc to safely advertise their services, leveraging extensive medical connections and a large visitor base.

03:41 Mark criticizes the Rolodoc owners for their ineffective branding and raises concerns about the safety and credibility of their service in connecting patients with doctors.

04:22 Mark challenges the Rolodoc owners on their unclear profit model and raises concerns about the potential liabilities of their platform.

05:30 Mark criticizes the Rolodoc owners for their poor presentation and lack of clarity on their social media integration, calling it the worst he's seen.

06:41 Mark criticizes the Rolodoc owners for their unclear business plan and lack of preparation, leading to his decision to withdraw from the investment.

Transcript

00:00 Next up are two doctors from Tucson Arizona with an idea to innovate communication in the medical field. Hi I'm Dr amini and I'm Dr amini we're brothers and we're both Physicians I'm Richard and I'm Albert. Our company is rollerdoc and we're seeking fifty thousand dollars for twenty percent of our company and as Physicians. We're constantly communicating with our peers our patients and with other medical professionals and what we've realized is that when it comes to communication medicine is not in the 21st century I mean for crying out loud. We're still using pagers to communicate what is this. The 80s rolodoc is the cure for the old school communication that exists in medicine rolock allows for secure email between patients Physicians and other medical professionals.

00:50 The mobile app that allows for instant messaging between them take a look at this sample patient profile. Here's Mr Wonderful's page. He's entered in his information including his medical problems. He looks good looks like he's suffering from a heart condition a cardio for those non-medical nerds. This is a condition when a person is literally born without a heart not to worry Mr Wonderful because you can then search for Physicians by State Specialty or insurance provider let's pick surgery choosing surgery in Arizona lets you find this young good-looking surgeon. You can then view his profile and send him a message. The surgeon receives the message instantly and can reply at his convenience sharks with your investment we will revolutionize the way we communicate in medicine but most importantly you'll help us get rid of these pagers and make some money doing. It is the point that you can personally communicate to the doctors that you have online because doctors could be inundated with emails and personal messages.

01:47 How would they ever keep up with it. What we're really trying to do is bring social media and the social network to the medical profession. What's the social element you didn't really see so you let's say. Let's say Kevin O'Leary moves to La wants to find a plastic surgeon there get even sexier than he is already. I don't need that looks fantastic. Even sexier. I'm gonna have a heart attack if he wants to go find a doctor right. Now. He's gonna do a search engine. He's gonna be inundated with inaccurate information and he's really going to be end up just as confused as when he started are you up and running at all. We are in Alpha Testing right. Now we've got 50 users on it our personal connections that are using it verifying how it works how many doctors or just total users total users. I'm just looking at my own situation my doctor's in Boston. When I have aches and pains and I'm on the road I can email him. As I do. He communicates back to me that way and suggests that I go see a specialist when I get home all done by email. The organization in Boston which has my medical files shares them amongst hospitals. We've got that technology now so when I arrive at the specials I have all my history they know who I am what are you adding to that equation. So we're adding social media.

03:01 Doctors want to Brand themselves want to advertise just like you create a profile on rollerdoc and it'll create a profile on another social network but those social networks aren't safe okay. Let's take a step back how am I going to convince you the physician to put your profile up there and detail the services that you offer well. That's easy there's 800 000 us visitors. I didn't ask what the market was okay. There's a hundred places to put profiles what are you going to do to convince doctors. Just like you have business connections. We have medical connections. We're going to launch in Arizona Texas and Chicago connections are we we have access to multiple doctors multiple databases.

03:41 We're going to tell them that this is the best way to Brand yourself and how are you going to tell them I'm pulling teeth. I should be a dentist are you personally going to quit your practice. You're going to stop doing surgery and you're going to make the call. No this day and age we can do it with electronics. We can either buy a database. You know what Mark get an email. This is dangerous. How are you vetting these doctors. There's a valid concern because you don't want to be reading about somebody that actually isn't a surgeon. That's offering heart surgery that would be a bad outcome. I don't think they'll be able to get anybody. It's going to be dangerous if you can't get any doctors okay. Let's go through the logical progression yeah. My doctor gets an email oh. It's from Roll of Doc never heard of him.

04:22 Delete wait a second you haven't explained how I make money which is the most important thing. My doctor is very hip to technology. Why would he use this and how would I profit from him actually getting on board. He's going to use this because he's going to want to attract. New patients provide social media to them okay okay. He keeps on saying social media social media. This is all one-to-one communication you're not going to let him tell me how I make money because there's no chance of you making money on this do is that the answer targeted advertising is it. In a secure environment you can do targeted advertising ah not gonna happen well. You can look there's social networks that are already doing this for physician. Only mobile mobile networks within just physician to physician which has a whole different set of security issues than communicating with patients correct but you can Target. The Physicians I see this as a liability nightmare because you are putting people in touch with their doctors. They're answering back without maybe seeing a patient knowing what's going on this just my opinion.

05:30 There's a lot of risk in it. I'm out what we're trying to do is we're trying to bring social media to medicine and Albert let me go back tomorrow you keep saying social media. Then you go to email email is not social. Media. Doctors are constantly posting things on Twitter and at other websites and how do you use that well that's what we have. We have the capability of being a social network instead of saying follow me on XX site. You say follow me on Roll. It Off I get that you're trying to recreate Twitter and Facebook onto rollodoc correct okay. But I want to do this I face to face because you're doctors worst presentation ever I'm out oh. That was me ever you guys should be smart enough to know. You didn't show us any of the social media. You showed his profiles and talk to us about email. You didn't tell us at all how are you going to get there. It was horrible Mark I just think you're being a bully. I mean they might be okay. I am being a bully. Then they deserve to be bullied. It's hurtful to watch you. I would have to agree with Mark. I think it was the worst sales presentation. I've heard. We're not presenters okay.

06:41 We're Physicians so guess what I don't care what your background is. If you're looking for money. You got to sell your idea that business plan is so unclear. I'm out with all due respect. I just don't think you've explained how you're going to get users how you're going to monetize it. I just don't see the business I'm out. I was intrigued frankly. It's depressing because I like new ideas in the medical space. They're forever if they work but at the end of the day I can't connect the dots regarding how I make money. I'm out fair enough. Thank you thank you all they just weren't prepared. They were arrogant thinking that they were just going to be able to wing it and everybody doesn't know any better it's our baby man you're kind of bummed out. You know I was expecting to be able to portray it a little bit better than we really did. Protein is never wasted when a death occurs. What is that it means that others will see what happened here. They'll learn from their mistakes so they won't make the same mistake. I don't mind sacrificing a couple of doctors. If it means the next two doctors can make me money. You know they were right about one thing what you have no heart before you go don't forget to subscribe to the Shark Tank Youtube channel and click on that notification. Bell to keep up with everything that's bubbling in the tank.