{"id":26528,"date":"2021-02-17T12:19:01","date_gmt":"2021-02-17T12:19:01","guid":{"rendered":"https:\/\/www.syscreations.ca\/blog\/?p=26528"},"modified":"2021-11-08T09:35:51","modified_gmt":"2021-11-08T09:35:51","slug":"felix-health","status":"publish","type":"post","link":"https:\/\/www.syscreations.ca\/blog\/felix-health\/","title":{"rendered":"How Could 2-Year Old Online Prescriptions Provider &#8211; Felix Health &#8211; Raise $10 Million?"},"content":{"rendered":"\n<p>I woke up to news &#8211; very fascinating news for all healthcare and technology experts.<br><\/p>\n\n\n\n<p><em><span style=\"color:#7b68ee\" class=\"has-inline-color\">Toronto-based healthcare startup &#8211; Felix Health &#8211; raises&nbsp; CAD 10 million in its series A round of funding.<\/span><\/em>&nbsp;<\/p>\n\n\n\n<p>It is very significant for two reasons &#8211; <span style=\"color:#7b68ee\" class=\"has-inline-color\">the amount they have raised and how fast they\u2019ve closed a successful funding round since inception.<\/span>&nbsp;&nbsp;<\/p>\n\n\n\n<p>The company provides technology-enabled treatment for some common healthcare challenges of Canadians such as birth control, acne, migraines etc.&nbsp;<\/p>\n\n\n\n<p><center><blockquote class=\"twitter-tweet\"><p lang=\"en\" dir=\"ltr\">We are all about helping you get the treatment that&#8217;s right for you. <br>\u200b<br>\u200bSafe, secure and trusted! <a href=\"https:\/\/t.co\/avkjK9EIMc\">pic.twitter.com\/avkjK9EIMc<\/a><\/p>\u2014 Felix (@felixhealthca) <a href=\"https:\/\/twitter.com\/felixhealthca\/status\/1350110523703128070?ref_src=twsrc%5Etfw\">January 15, 2021<\/a><\/blockquote> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/center><\/p>\n\n\n\n<p>I instantly became so interested to be completely aware of Felix Health\u2019s business practice.<br><\/p>\n\n\n\n<p>So I dug deep down and analyzed them thoroughly to understand how a company founded in 2019 raised a whopping amount in such a short span of time.&nbsp;<\/p>\n\n\n\n<p>And here is what I found.&nbsp;<\/p>\n\n\n\n<h1><strong>What\u2019s so special about Felix Health that it raised $10M within around 600 days of its inception?<\/strong><\/h1>\n\n\n\n<p><strong>1)<\/strong> <strong><u>The way Felix Health operates<\/u><\/strong><\/p>\n\n\n\n<p><span style=\"color:#7b68ee\" class=\"has-inline-color\">Felix Health aims to solve the toughest healthcare challenges of Canadians in the easiest way.&nbsp;<\/span><\/p>\n\n\n\n<p>It lets Canadians manage their healthcare issues from the most accessible medium they have &#8211; a mobile phone and website.&nbsp;<\/p>\n\n\n\n<p>With the ultimate ease of interacting with Felix Health, users find it very convenient and time-saving.&nbsp;<\/p>\n\n\n\n<p>The following is how it operates.&nbsp;<\/p>\n\n\n\n<ul><li>Once the users create an account on its website, users have to answer a few simple questions related to their medical history and symptoms which take less than 15 minutes. Because of the quiz-type questions with large fonts, the users don\u2019t feel bored.&nbsp;<\/li><\/ul>\n\n\n\n<ul><li>Within 24 hours of submission, one of the licensed doctors reviews the answers provided by the users.&nbsp;<\/li><\/ul>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-large is-resized\"><img loading=\"lazy\" src=\"https:\/\/www.syscreations.ca\/blog\/wp-content\/uploads\/2021\/02\/image2.jpg\" alt=\"\" class=\"wp-image-26529\" width=\"379\" height=\"527\"\/><\/figure><\/div>\n\n\n\n<p class=\"has-text-align-center\"><center>Source: https:\/\/www.felixforyou.ca\/<\/center><\/p>\n\n\n\n<ul><li>The doctor suggests medications. <span style=\"color:#7b68ee\" class=\"has-inline-color\">The users have the freedom to choose their preferred medication.<\/span> Users can also select the shipping frequency of medication. In case of any doubts, the users can chat with doctors in real-time.&nbsp;<\/li><\/ul>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-large is-resized\"><img loading=\"lazy\" src=\"https:\/\/www.syscreations.ca\/blog\/wp-content\/uploads\/2021\/02\/image1.jpg\" alt=\"\" class=\"wp-image-26530\" width=\"371\" height=\"527\"\/><\/figure><\/div>\n\n\n\n<p class=\"has-text-align-center\"><center>Source: https:\/\/www.felixforyou.ca\/<\/center><\/p>\n\n\n\n<ul><li>Once the online prescription gets approved, the pharmacy partner of Felix Health fills the prescription for doorstep delivery. <span style=\"color:#7b68ee\" class=\"has-inline-color\">Users can also activate auto-refills to never run out of the prescription.<\/span>&nbsp;<\/li><\/ul>\n\n\n\n<p><strong>2)<\/strong> <strong><u>The way Felix Health charges for online prescription and medication delivery<\/u><\/strong><\/p>\n\n\n\n<p>Pricing has been the major challenge for all healthcare startups. But Felix Health solves it exceptionally well.&nbsp;<\/p>\n\n\n\n<p><span style=\"color:#7b68ee\" class=\"has-inline-color\">The online visit fee of Felix Health is just $40 which includes an online chat-based visit with a Canadian licensed doctor and up to 1 year of refills.&nbsp;<\/span><\/p>\n\n\n\n<p>Talking about the medication cost, it would depend on the type of drug the user selects.&nbsp;<\/p>\n\n\n\n<p>But regardless of the drug type, Felix Health provides free medication delivery to the doorstep of the users.&nbsp;<\/p>\n\n\n\n<p><span style=\"color:#7b68ee\" class=\"has-inline-color\">This way, Felix Health does not only save the cost of the users but also save their crucial time by letting them avoid clinic wait rooms and pharmacy pickups.&nbsp;<\/span><\/p>\n\n\n\n<p><strong>3)<\/strong> <strong><u>The way Felix Health solves healthcare challenges<\/u><\/strong><\/p>\n\n\n\n<p><span style=\"color:#7b68ee\" class=\"has-inline-color\">There are many common yet significant healthcare challenges that people don\u2019t feel comfortable sharing with doctors in an in-person meeting.<\/span>&nbsp;<\/p>\n\n\n\n<p>These challenges are birth control, erectile dysfunction, hair loss, and genital herpes.&nbsp;<\/p>\n\n\n\n<p><span style=\"color:#7b68ee\" class=\"has-inline-color\">But using Felix Health\u2019s platform, Canadians can solve all such healthcare challenges very comfortably as there is only a virtual chat-based meeting with the doctor.&nbsp;<\/span><\/p>\n\n\n\n<p>In other words, Felix Health solves the real-life challenges of the users and any startup solving real-life challenges of the users meant to be successful!&nbsp;<\/p>\n\n\n\n<p><strong>4)<\/strong> <strong><u>The way it provides pharmacy and healthcare service in one place<\/u><\/strong><\/p>\n\n\n\n<p><span style=\"color:#7b68ee\" class=\"has-inline-color\">Felix Health is neither an online pharmacy nor a healthcare service provider. It is a fusion of both!<\/span>&nbsp;<\/p>\n\n\n\n<p>There are many healthcare startups that provide medicine delivery services.&nbsp;<\/p>\n\n\n\n<p>But for that, users first need to have a prescription and for prescription, users either need to physically visit the doctor or schedule a virtual visit with the doctor.<\/p>\n\n\n\n<p>Same way, many healthcare providers or telehealth providers do not provide medication delivery services.<\/p>\n\n\n\n<p><span style=\"color:#7b68ee\" class=\"has-inline-color\">But in the case of Felix Health, users are able to access doctor consultation and medication delivery from the same platform.<\/span>&nbsp;<\/p>\n\n\n\n<p>This is very useful to users as they don\u2019t need to shuffle between healthcare providers and pharmacies.&nbsp;&nbsp;&nbsp;<\/p>\n\n\n\n<p><strong>5)<\/strong> <strong><u>The way it gives priority to ePHI security and privacy<\/u><\/strong><\/p>\n\n\n\n<p>A healthcare startup saves, uses and shares crucial personal health information. Thus, to avoid any data breach, they have to deploy a military-grade security system.&nbsp;<\/p>\n\n\n\n<p>They should also adhere to Canadian data privacy laws that govern how a healthcare entity stores, uses and shares the ePHI.&nbsp;<\/p>\n\n\n\n<p>To be compliant with data privacy laws, the healthcare entity must address all requirements at the organization level.&nbsp;<\/p>\n\n\n\n<p><span style=\"color:#7b68ee\" class=\"has-inline-color\">Talking about Felix Health &#8211; it is a PHIPA compliant as it operates its business in Ontario and PHIPA is Ontario\u2019s dedicated law for the healthcare industry.<\/span>\u00a0<\/p>\n\n\n\n<p>Being PHIPA compliant does not make Felix Health liable for any legal trouble.&nbsp;<\/p>\n\n\n\n<p>It also helps them to attract users and investors as awareness around data privacy is ever increasing.\u00a0<\/p>\n\n\n\n<p><strong>6) <u>Felix Health now supports diagnosis and treatment of anxiety and depression<\/u><\/strong><\/p>\n\n\n\n<p><span style=\"color:#7b68ee\" class=\"has-inline-color\">As per the latest official report, Felix Health has not gained the ability to first diagnose and then treat mental health issues including anxiety and depression through its platform.\u00a0<\/span><\/p>\n\n\n\n<p>This will allow Felix Health to not just attract more users but build a loyal customer base and increase revenue with this fresh revenue stream.&nbsp;<\/p>\n\n\n\n<p><span style=\"color:#7b68ee\" class=\"has-inline-color\">To offer online mental health diagnosis and treatment services, Felix Health now allows users to directly talk to healthcare providers by requesting an assessment on the company\u2019s website by sharing their medical history and symptoms in an online quiz.<\/span><\/p>\n\n\n\n<h2><strong>What could Felix Health do in a better way? &#8211; An opinion&nbsp;&nbsp;<\/strong><\/h2>\n\n\n\n<p>Communication and coordination between physicians and patients are very crucial especially when they are interacting online or virtually.\u00a0<\/p>\n\n\n\n<p>The communication mediums Felix Health offers are chat and voice calls.&nbsp;<\/p>\n\n\n\n<p><span style=\"color:#7b68ee\" class=\"has-inline-color\">For enhanced communication and coordination, Felix Health should introduce video calls as well.<\/span>&nbsp;<\/p>\n\n\n\n<p>This will increase the coordination and enable doctors to get an idea of the current health state of the patients more easily.&nbsp;<\/p>\n\n\n\n<p>Patients will also feel more connected to the physicians due to video visits &#8211; rather than chat or voice calls.&nbsp;<\/p>\n\n\n\n<p><span style=\"color:#7b68ee\" class=\"has-inline-color\">Additionally, it would be more convenient and easy for users to access Felix Health\u2019s services through a mobile app &#8211; rather than a website.&nbsp;<\/span><\/p>\n\n\n\n<p>Anyway, this is just my opinion. I am sure Felix Health must be working on some ground-breaking features and breakthroughs.&nbsp;<\/p>\n\n\n\n<h2><strong>Are you on a similar healthcare startup journey? We\u2019re healthcare-specific app development and compliance experts<\/strong><\/h2>\n\n\n\n<p>We&#8217;re an Ontario-based team of healthcare app developers and compliance\/PIA experts.&nbsp;<\/p>\n\n\n\n<p><span style=\"color:#7b68ee\" class=\"has-inline-color\">For the last 7 years, we have been investing our 8 hours a day for streamlining patient care operations into the Canadian healthcare industry.&nbsp;<\/span><\/p>\n\n\n\n<p>We\u2019ve worked with several healthcare providers including long-term care homes to solve their compliance, app, EHR, EMR-related challenges.&nbsp;<\/p>\n\n\n\n<p>We are even providing a <a href=\"https:\/\/www.syscreations.ca\/blog\/cost-to-develop-best-telemedicine-app\/\" target=\"_blank\" rel=\"noreferrer noopener\"><span style=\"color:#7b68ee\" class=\"has-inline-color\"><u>white-label telemedicine solution<\/u><\/span><\/a> that starts from $40000 which has been adopted by more than 40 healthcare providers in Canada and the USA.&nbsp;<\/p>\n\n\n\n<p>For specific pricing, check out our <a href=\"https:\/\/www.syscreations.ca\/telemedicine-ontario\" target=\"_blank\" rel=\"noreferrer noopener\"><span style=\"color:#7b68ee\" class=\"has-inline-color\"><u>dedicated page<\/u><\/span><\/a>. <\/p>\n\n\n\n<p><span style=\"color:#7b68ee\" class=\"has-inline-color\">For your any compliance, app, platform, EHR\/EMR-related challenges, you can directly contact our most-experienced team by filling out a 4-line long form.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>I woke up to news &#8211; very fascinating news for all healthcare and technology experts. Toronto-based healthcare startup &#8211; Felix Health &#8211; raises&nbsp; CAD 10 million in its series A round of funding.&nbsp; It is very significant for two reasons &#8211; the amount they have raised and how fast they\u2019ve closed a successful funding round [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":26533,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[10],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v16.1.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Online Prescriptions Provider Felix Health Raises $10 Million<\/title>\n<meta name=\"description\" content=\"Toronto-based online prescription provider - Felix Health - raises $10 million in its series A funding round. 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