Dr. Domi: acercando servicios de salud de calidad a los habitantes de estratos 1 y 2 de Bogotá

Abstract

In Colombia, despite the fact that health is a fundamental right enshrined in the Political Constitution of 1991, a large percentage of people do not have quality access to health services, especially those with low incomes and/or living in regions far from the main cities. This, in addition to generating a serious social and humanitarian problem, represents an additional obstacle on the road to the country's development. Although the coverage of the General Social Security Health System in Colombia is over 90%, making it the best in the region, it is important to analyze other indicators, such as access, in order to understand the real level of quality of the health system, since this is what describes the real accessibility that people have to health services when they are required. In this case, in Colombia there are many entry barriers and opportunities for improvement, since a high percentage of people cannot access health services on time because of different reasons. In the last 10 years, thanks to the significant growth the Internet and mobile devices penetration in Colombia, the consumption of digital products has increased considerably and people are increasingly willing to use technologies to meet their needs. Additionally, the Covid-19 pandemic has given a great boost to telemedicine services that previously had a degree of resistance from users, becoming an efficient and safe alternative to ensure access to health for millions of people. Doctor Domi is a telehealth intrapreneurship that will take place in the second half of 2021 within the company ADOM Salud, a home care healthcare company (IPS, as called in Colombia) in Bogota. The main objective of this project is to bring medical care closer to the poorest people of the Colombian capital, with quality, opportunity, humanity and at a low cost, through a web platform, consolidating itself as a brand recognized for its social work in prevention, promotion and action in public health. Although different telehealth solutions have previously emerged in the Colombian market, most of them are focused on targets with high purchasing power and expertise in the use of technological devices, which generates an important entry barrier for the most vulnerable populations. In the above, Doctor Domi has found a business opportunity and has built th e basis of its main competitive advantage: to create a web platform with telehealth services that are easy to navigate, understand and access for people who do not have great knowledge of technology and Internet navigation, and who do not have large economic resources to spend. Doctor Domi will enter the market in the poorest neighborhoods of Bogota, specifically in the ones called San Cristobal, Tunjuelito, Usme and Ciudad Bolivar, in the south area of the city, since there is a significant number of people of Doctor Domi's target market: families earning less than two minimum monthly salaries in total (COP $1,817,000 / USD $491) and who are only affiliated to the basic health program (EPS) and do not have additional private health insurance. However, the project is expected to expand to other regions of the country and the continent in its next phases. Initially, Doctor Domi will offer doctor’s consultations with general practitioners and internists, but with projections to expand the range of specialties in the following stages of expansion. According to projections made in the project, taking into account the population size of the localities and the morbidity indicators in each one of them, it was established that the total available market -TAM- is 587,708 people. Likewise, it was defined that the SAM (Serviceable Available Market) is made up of people belonging to the age group of 16 to 50 years old, who have access to an electronic device to surf the Internet and have the purchasing power to pay for a consultation with Doctor Domi, being a total of 482,451 people. In the first five years, a SAM share of 24% is expected to be gained. In terms of financial indicators, Doctor Domi is expected to have sales in its first year of $2,277,168,720 (USD $615,451) and $3,255,818,640 (USD $879,951) in 2025. Its WACC is estimated at 14%, EBITDA at 13.2% and NPV of $2,330,292,152 (USD $629,836).