Problem: There has been a vast decline in elective surgeries due to COVID19. Hospitals are either full because they haven’t successfully flattened the curve or patients are scared to go to the hospitals.
Solution: A business that provides elective surgeries at home. The company would use a database of licensed providers that anyone could order at the push of a button to provide a surgery from the comfort of their own home: of course, the providers would also bring in their own materials to people’s homes.
For those who do not know, an “Elective surgery or elective procedure is surgery that is scheduled in advance because it does not involve a medical emergency. Semi-elective surgery is a surgery that must be done to preserve the patient's life, but does not need to be performed immediately.”
Now is the right time for this business to thrive because of existing guidance on elective surgeries released on March 18th. An excerpt of this below:
On March 18, the Centers for Medicare & Medicaid Services (CMS) also released guidance to limit "non-essential adult elective surgery and medical and surgical procedures, including all dental procedures." The guidance additionally notes that while "decisions remain the responsibility of local healthcare delivery systems...and those surgeons who have direct responsibility to their patients," when determining the risks and benefits of any planned procedures "...not only must the clinical situation be evaluated, but resource conservation must also be considered."
For more on the impact of COVID19 on elective surgeries, see the info graphic below. There have also been many articles and statements published around elective surgeries and COVID (10 considerations to make before getting an elective surgery, American College of Surgeons Statement, and MagMutual’s academic article).
Monetization: Percentage of revenues generated from procedures.
Contributed by: Michael Bervell (Billion Dollar Startup Ideas)