Hims House Ep 2 - Hims & Hers’ Business Model (Sep 24, 2024)
Sep 24, 2024
Discover the innovative business model of Hims & Hers, offering discreet healthcare solutions. The patient experience is explored, highlighting the blend of technology and personalized care. They delve into the complexities of prescription management for sensitive health conditions and the challenges of urgent care navigation. The discussion touches on the potential of AI and technology in shaping the future of healthcare. Learn about groundbreaking pharmaceuticals, like combining medications for erectile dysfunction and heart health, showcasing new approaches to treatment.
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Patient Experience at Hims
- Dr. H describes the patient journey at Hims starting with a discreet online medical intake for sensitive health issues.
- Patients communicate via chat with clinicians who prescribe and deliver treatments confidentially to their home.
Hims Business Model Unique
- Hims' business model differs from Netflix, SaaS, or typical DTC brands and is better compared to urgent care or primary care.
- It offers digital healthcare at scale focusing on sensitive conditions rather than just consumer goods.
Product-Dependent Churn Dynamics
- Churn is product-dependent: chronic products like finasteride resemble recurring subscriptions, while others are acute leading to churn.
- Hims has durable, lifelong customers for some treatments creating stable revenue streams akin to annuities.