$5.8 Billion Healthcare Startup Teaches About Patient Engagement

What $5.8 Billion Healthcare Startup Hims and Hers Teaches Us About Patient and Employee Engagement.
Hims and Hers is a direct-to-consumer telemedicine company that is hugely successful. They had $402 million in revenue in the most recent quarter of 2024, $51 million in profit and 2 million subscribing customers.
Hims and Hers was founded by healthcare 'outsider' Andrew Dudum who started the company in 2017 when he was 29.
Hims and Hers has completely different websites for men (Hims) and women (Hers), highlighting how important it is to have product offerings in healthcare that are gender-specific.
For men, Hims offers telemedicine visits and prescriptions specifically for sexual function, hair growth, weight management, skin care and mental health.
For women, Hers offers telemedicine visits and prescriptions specifically for weight management, wellness, hair growth, anxiety, skin care and birth control.
Hims and Hers spends 45% of their revenue on marketing across 250 media properties (I incorrectly said 450 in the video).
They do not take insurance. All prices are posted in advance and range from $15 to $115 per month.
Direct Primary Care Clinics and Employer-Sponsored Health Plans can learn much from Hims and Hers:
1) Have distinct offerings for men vs. women.
2) Place significant importance on marketing/communication.
3) Have a seamless internet-to-home-delivery experience.
4) Have a variety of price points and cross-sell for additional services.
Sources:
www.forhers.com/
www.hims.com/
www.healthline...
www.fool.com/i....
thesign.al/and...
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[@MohammadAshoriMD]

Great summary as always. I think H&H is successful at making money but I wouldn't say it's successful at delivering health. That's a whole different metric that we don't have a measuring stick for yet.

[@ahealthcarez]

Thank you for sharing your thoughts. Depends on definition of health… often in eye of the beholder. Appreciate you watching and leaving a comment.

[@azppmd]

Nice! Microphone makes audio much better!!! I appreciate your moderation of tonality. Less shrieky and whiny. Much more listenable. Makes you much more credible.

[@ahealthcarez]

Thank you for watching and for your feedback.

[@donkiebals123]

I've always thought the same. I love his content but sometimes he gets a little too excitable. IMO.

[@azppmd]

@@donkiebals123 Only 7% of influential communication involves the words we use. Body language and TONALITY = 93%. Something to always consider. Taking a public speaking course or a coach is always advisable.

[@Dr.Kanapon]

This is awesome, Thanks.

[@ahealthcarez]

Thank you for watching.

[@dhruvsxu]

Thanks. Very insightful. Startups exploiting (in a good way) a broken healthcare system.

[@ahealthcarez]

Thank you for watching and for your comment.

[@zachjones6944]

As someone who as worked in malpractice, I can't wait until the class action suite.

[@ahealthcarez]

Thank you for sharing your thoughts.

[@JoyInResidency]

$51m profit from $402m revenue, 12.68%, very cool.

[@ahealthcarez]

Yup. With 70%+ YoY sales growth.

[@cxvzf]

Thanks for posting

[@ahealthcarez]

Thank you for watching.

[@Laremy]

Got some crazy white noise feedback on this

[@ddfelder2]

Right out the gate… 😢

[@JoyInResidency]

At Hims/Hers: What does a typical patient telemedicine session look like?

[@specialzero75]

its a couple minutes on a web form where you give your current medications and health conditions and that is submitted to a provider. then it's a chat session with a provider. they SMS message you each time you have a new message from your provider and you return to their website to read and reply to the chat. if there are no issues, they prescribe what you requested and the website handles the shipping. but if there are red flags, they will have a conversation with you, including possibly declining to prescribe.