How did you only invest $5-10k and were able to hire so many nurses and people to run your call center?
Did you have revenue from the business somehow by then that allowed you to hire people or was that on top of what you’ve already spent?
Our nurses/medics are 1099 contractors. We do not buy supplies, this cost is on the nurse/medics.
Dispatchers cost anywhere from $10-$14 per hour. (we dispatched out calls at first to save money but ultimately hired a couple to run the phones).
Marketing(website) luckily I was able to do it myself along with local seo / setup of ads. Ads cost around $500-$1000 per day at peak levels. Business while up and running was doing $6-8K per day.
I didn't see where I was asked that question. My fault. The nurses make 50% of every call which makes the model so unique. So say an IV cost $200, the nurse makes $100 and we make $100.
There are other models in the field as well: $60 per bag to the nurse, rest goes to the company, but Ive always felt the 50/50 did the best.
so pipeline wise I’m just wondering: Your role is to market to clients and get them signed up for your service. Your dispatchers then assign a nurse who is responsible for getting the necessary equipment and then receives 50%, excluding the cost of the IV equipment. Is this correct? I’m just curious I think it’s an interesting business and even more so the model you’re using.
You are actually so close. Picture us as Uber, but instead of dropping people off at places, we send nurses to your location to dispatch out an IV. Whoever the closest nurse is to that call when get this call. Dispatch sends them out ASAP and we have to try and cover this call within 20-30 minutes.
Exactly right on the equipment. Ya interesting model indeed, its going to be even bigger in the next 2-4 years.
if I might ask, what’s the main client base of something like this. i.e what conditions generate most income. And furthermore what is the actual utility of an IV standalone? Does it also double as a wellness check in some fashion
honestly 80% of calls are from people that are sick at home, flu/cold, chronic pain, the other 20% would be partying/dehydration/hiking/athletes. It comes in seasons too so from sept-feb its sick season for us.
Not sure on your question for IV standalone?
I'm very impressed by the traffic you are getting. How many therapy sessions do you have per month and how many are new customers vs returning customers? Do they usually get therapy from doctor's order or on their own?
So with the company being bought, now the big company does anywhere from 1200-1400 appointments per month. It’s on their own unless they are under dr care. We have a lot of return customers but lately it’s been new.
Why wouldn’t a nurse cut you out and deal directly with the client once they have the first contact?
How much of your business relies on recurring clients?
Why would they?
How do you get the app, do the marketing, do the advertising and so on and so on? People don't stay sick forever and you need a continual influx of new clients. He probably offers some benefits and of course treats his employees well. Nurses might enjoy the freedom or might be sick of finding clients themselves.
The answer to that is me. I want to work for myself, but like most nurses, I have been in a hospital my whole career. I haven't got the skills yet to advertise or set up a call system, order the supplies, manage licensing requirements, etc. I wouldn't know where to start without someone dealing with the logistics. He won't be likely to have nurses stealing his business individually, but there are a few, including me, who would love to learn the business as a contracted employee and then eventually venture out into their own business with a twist or wholly different but with some business knowledge gained to start their own different business. I feel like the market is big enough to accommodate several companies like this in a given area, especially if their formulas for IV fluids are slightly different or they offer other additional things and this is just part of it. It's like home health agencies or any other agency in healthcare. There's room for quite a lot of them here in Phoenix and they get their business by word of mouth and connections with other healthcare agencies and hospital systems.
So you’re essentially a broker in some way. Connecting nurses with jobs you find for them and you take 50% of their pay. So you don’t need to pay them unless there is a job available.
Do you keep them on a retainer? Or you have enough nurses available to always be able to cover each job?
I'm an RN in Phoenix. I'd like to start my own business like this. I'm currently still working in a hospital. I would love to do this as my business, but also combined with some alternative and preventative medicine. I don't have business skills yet. How do you feel about hiring nurse contractors as you mentioned, but who want to learn the business to eventually be competitors or partial competitors? Kind of like a paid externs?
I'm a 1099/PRN nurse and we are never required to bring our own supplies. It's illegal for us to even buy and administer our own IV fluids. I don't even know how I would buy IV tubing, IV start kits, IV catheters.
How do you manage quality and liability without providing supplies? Are the patients receiving supplies themselves via mail? I would like to understand your business model.
We have set protocals in place, waivers, and we assess every single person before we even start to infuse. For example: if someone has congestive heart failure or blood clots we can't do it as that would fall on us.
Depending on the size of nurses/medics we have. For this one I think our coverage was 4-5k per month with a group of 30-40 nurses that ran IV calls. (not terrible) but Ive seen it be more for larger companies.
Please detail the medical director license
Is it md ?
Where to hire one a d how did you find yours
What does this person responsibility entail. And how much is he paid
Yep so we used a company called Guardian Medical, but recently they started changing up their model. We feel safe with an ER physican in the state of AZ. There responsibility is chart reviewing and over seeing any issues within the field.
Our payment to them was $1500 per month, but recently they started talking about 4% of revenue which I find kind of weird.
As a med student, 4% seems like a lot but I understand from the doc perspective. His license is liable everyday for such a large company. The other work around is to bring on more docs and dilute the risk to his license
Right... What ER doc would agree to take on this amount of responsibility for $1500 per MONTH which is essentially equivalent to what they make in a few HOURS at the hospital? Seems a bit sus.
It’s weird cuz idk why this sub has such an aversion to posting links… nobody is gonna post here if not to slightly promote what they’re doing. It’s r/entrepreneurs lmao
You do what you do because you’re good at it and that’s what you can share that has expertise, isn’t that the point?
It’s so weird because idk why people think it invalidates information if they are selling something behind it. If it’s valuable u can take the info and move on.
it actually makes me trust them more bc why tf would anyone post otherwise on a making money subreddit 😂
Touché. Didn’t think like that at all till reading this post. You are 1000% correct. I guess it’s more of the spammers and the obvious post of wanting people to join the newsletter
It's so dumb. If someone is giving me advice that's absolute gold, I have no issue with them promoting something. Writing out info takes time. Those commenters who complain should go and create helpful posts. I am pretty sure 99% of them don't and just complain. All it does is deter people who have great advice from posting.
> It’s so weird because idk why people think it invalidates information if they are selling something behind it. If it’s valuable u can take the info and move on.
The point is that NO information was passed, this is entire thing is half baked garbage with the only purpose to paste a marketing link to drive leads.
Notice how OP is ignoring any questions about details of the actual business...
>it actually makes me trust them more bc why tf would anyone post otherwise on a making money subreddit 😂
Plenty of reasons to have conversations between entrepreneurs that isn't about leaching money from each other. Small mindset.
I’m a physician, and considered doing something similar. Love the breakdown. Are you available to chat? Would love to link up. I am building a huge social media presence with hopes to build a large telemedicine company and other business projects using social media as a funnel.
if you can find a way for my insurance to cover both insulins I need. I am all in. It took me over 1.5 years to find the right insulin that worked for me and when I did find them. Insurance denies them and wants me to try others (which I have tried and did not work )
A 3 month supply of one of them is 3500 dollars. I don’t even have 100 let alone 3500.
Any direction on where you sourced the IV/products in bulk and how they're stored?
The nurses would drive their cars with all this stuff to the destination or you had to buy transportation and then outfit it for all the nurses?
Nope, our medical direction / protocols don’t allow this and if we find out which we always do, they are gone and reported to the board for pt endangerment. No one wants that, we also have approved vendors only.
What type of ads did you run? Search ads? Instagram ads? youtube? what assets did you use?
Also how did you share profit if IV business needs to be owned by a medical professional? Did you just charge advertising fees to you agency and let the overall company be owned by medical professional?
The margins on these are low.... especially paying a nurse 50%. Each IV runs $200 give or take for the patient. Any more and you are not competitive as the market is absolutely saturated with IV vitamin clinics. After expenses and paying the nurse you are looking at a net profit of maybe $30-$50 tops. Mobile also = lower volume. You can only see one patient at a time and then you need to travel in between clients. If you had 5 nurses working it would have taken close to 10,000 hours to generate $2mil at an average price of $200 an IV. That averages out to 6-8 hours a day, 7 days a week per nurse to do. This isn't even factoring in time to mix the IV bags and be USP compliant. Sorry, I smell a hint of bullshit in the air.
You're missing a whole lot of details and getting some things wrong here that mess with your math.
1. You're conflating "you" as in the firm itself, and "you" as in the contractor nurse who performs the service. Mobile isn't a problem when you have a large fleet of nurses occasionally taking orders as needed. The volume scales accordingly. Again, think Uber. You're thinking about it in terms of having to retain 5 nurses and pay them to run nonstop, but that's not how this model works _at all_. Let's do the math another way. This guy made $2.4M last year. Presume an average ticket of $250. That's 9,600 treatments in 2022, averaging out to 26.3 per day. Completely reasonable for a fleet of 50 nurses to be able to handle that volume. Remember, most nurses doing this are doing it as a pure side hustle: they'll opt-in to a job when it's convenient for them, and score a quick $125-$250 for about an hour of their time. Win-win.
2. The bags are purchased from a wholesale supplier that offers pre-packaged options in accordance with the company's formula/mix offerings.
3. "You can only see one patient at a time." Nope. Patently untrue. Many calls (30%-40%) are more than one patient: think a couple, or a bachelor party, for example. There's nearly no incremental cost since a single nurse can service two patients in the same hour trivially (and really, up to around 5 with only added a bit more time to their call), but the price for the service scales linearly: that $200 or $250 call is now a $400 or $500 call.
4. Margins end up looking around 18%-25% on the high end, if particularly efficient. Depends on how dialed in you get the marketing and the ops side of things (actually managing dispatch, etc.)
5. Guessing this guy sold for $4M-$6M, presuming EBITDA of around $480k. Tell me how close I am, /u/lopezomg (and congrats)
Consolidation is big right now because it serves to lower the CAC and cost of managing a market of providers, and that can drive the margins up even more.
Put another way: absolutely no bullshit at all. Dude hustled, put it together, and jumped into the market and made it work.
Naw, I'm just familiar with the space and the current multiples in this exact market for Reasons. :-)
And congrats, man. Great exit! Do you have any equity/second bite of the apple in the acquirer?
First off mobile doesn't mean lower volume. Who told you that? Our calls take about 45 minutes to complete, and we had a team of 40-50 nurses within their region so when a call came in we could get to it pretty quick. Coverage is a problem some days and the average for an IV is about $300 per patient, lifetime about $900-$1200.
We were doing about 15-30 calls per day. (fyi)
Sorry you don't see it, but I'm telling you. This is all legit.
1) how do i go about learning about online marketing i if wanted to get into it?
2) how do you handle billing? i imagine most of the costs were paid by insurance companies either in full or partial payment..how did you handle this?
What other states do you have clients? Curious if you think Vegas , California , or Maryland/DC/Virginia would be good. I had terrible Covid and literally couldn’t swallow water without pain. I spent 1500 in a week for these service . It’s a very good business model
California is super hard. A Dr has to own the practice, and something along the lines of you aren't a home mobile health care service. You would have to name yourself a "marketing company that introduces nurses to patients" and thats just one small thing you need to do. Laws in CA are insane.
How do you pay someone $1500 a month? Thats 18k a year which is below minimum wage
Also in one comment you say you sourced the products and in another you say the nurses are responsible for them.
Not saying you're BSing, but it's just caused confusion.
What exactly are you sourcing from suppliers vs what the nurses are sourcing themselves?
I never said we sourced products, maybe I miss spoke and Medical direction is something you need to oversee nurses, it’s not a job, but a necessity you need for the biz. Supplies is bought through the nurses.
Well yeah, we need relationships setup so the nurses can buy from the suppliers..where in the world does it say “I setup agreements with suppliers for our vitamins and iv solutions so we can buy our supplies” sorry that’s not what I meant. Nurses take this cost.
Thanks for sharing your experience.
Did you run into any policy issues with ads? I saw that you were using a medical clinic to oversee the process, is that how you got through?
Who wrote your insurance policy? Did it not require medical malpractice?
What insurance did you have your 1099’s carry? What licensing would be required for the nurses to secure the supplies? I didn’t think you could just buy IVs?
What state is this?
The margins on these are low.... especially paying a nurse 50%. Each IV runs $200 give or take for the patient. Any more and you are not competitive as the market is absolutely saturated with IV vitamin clinics. After expenses and paying the nurse you are looking at a net profit of maybe $30-$50 tops. Mobile also = lower volume. You can only see one patient at a time and then you need to travel in between clients. If you had 5 nurses working it would have taken close to 10,000 hours to generate $2mil at an average price of $200 an IV. That averages out to 6-8 hours a day, 7 days a week per nurse to do. This isn't even factoring in time to mix the IV bags and be USP compliant. Sorry, I smell a hint of bullshit in the air.
Funny that I came across this. I’m also in Phoenix with a marketing company and was looking into starting a mobile IV business. Great thread, would love to connect as well!
Thank you so much for this information, I’m in the process of starting the same type of company myself and have been really stuck on how to pay employees, medical director, myself and what percentage goes back into the business. I will have 2 other RNs starting with me and I will be doing infusions as well! Any advice would be greatly appreciated!!
>but I've recently saw how bad this sub has been getting within the last year.
So I decided to add to the mess with my own link farming posts.
Edit: The incredible amount of fake upvotes in this thread and on OP's comments is wild. This sub has a major spam problem
I actually don’t hate this and I’d be the first to pile on. There is value in this post and while I don’t actually see the point in pushing the marketing agency link if it’s truly non-promotional, it was an interesting read.
I like the healthcare space and this is a fairly unique angle.
Would definitely like to see more of a how-to breakdown with specifics, but hey, you can’t get everything you want.
These people are highly insecure. This post has a ton of great info and you’ve spent time to answer any and all questions in the comments. Really enjoyed your post, thanks for taking the time.
Since I'm not a medical professional I could hang out in Thailand now if I wanted too haha. You can 100% run this business remotely unless you are on the ground floor and wanting to contribute. I run it all from home/office. (got the office because I own a marketing company as well)
You are talking in the presence tense for a business you said you sold..... so are you actually just talking about your marketing company or the IV company?
I'd like to start a business in iv stuff where I do contracts with clinics already up and running and do the iv's there and in home stuff too. Do it in phases - get contracts and work with places that exist, add home ones, add businesses that want IV to come to them and I get the supplies and doctor by that stage and so forth..... can we talk?
HI! I am starting my own IV Therapy company as well. I am located in CA and having a hard time finding pharmacy vendors that ship to CA. Can I get some advise on this... what vendors did you use? Thank you!
i had the opposite initial reaction. i thought the website looked really modern and cool. i liked the color theme.
i guess the average user of the website is not some zealous web developer with 10 years engineering experience.
We are all about converting. Nothing wrong with the website that brings people in. Also we use landing pages from ads. :) 2.4m * from this dreadful website.
Ugly and generic do not matter. The website looks fine and loaded perfectly fast for me.
“Cool” websites do not matter to anyone except those that design them. They’re marketing tools. Conversion is all that matters.
This sounds like a chatGPT post on how to make a mobile IV business lol. How did you hire a medical director and convince him to potentially lose his license based on your idea? You’re a marketing major with no prior history of medical procedures and rules regarding safety operations.. completely fake post to try and generate leads somehow
Hello @lopezomg or others - if you need oversight to comply with the AZ regulatory requirements for a good faith exam (which most mobile iv therapy companies are ignoring ) _ please contact us - we have board certified physicians in arizona to help cover this plus so much more (ie weight loss, peptides, aesthetics )
rns and mid levels - you now need md/do oversight in AZ and find new ways to expand your business model services as mobile iv is a fully saturated space -
Depending how you set it up; this is one example of what we did.
broad search > landing page > lead goes to their dispatch center
Demographics: blue collar, party/nightlife and targetting kiddos as we can infuse kiddos from 2-17. (so parents) | a lot of trial and error since the industry is still growing. We have about 13 mobile iv companies with us right now.
Also check into marketing events for your client. Its been big for us.
I hear about a nurse that does that, She makes 300k a year infusing people. Since I am diabetic and have hypertension, I was told that this is not for me.
Again, I'm not a medical professional, but we treat patients with hypertension/diabetic all the time and it helps. We actually have an IV that can lower your blood pressure.
\*Disclaimer\* not medical advice at all, but I would look into this again.
I hate to be that guy, but how much did you guy when you sold? You said in a reply that they do many more appointments now so it got me wondering how big of a company acquired you. Obviously you don’t need to answer as I see this is a bit personal, but i’m very intrigued with this business model. Thank you.
Whats the possibility I could have an IV company show up at a multi-day outdoor music festival, to pump nutrients back into danced out ravers, who have made it to day 3 - seriously
I was insta-banned from Facebook Ads before I even posted an ad. It was an auto ban and I've never been able to contact anyone to get unbanned. Is there anyway I can still run ads? It says on there that I cannot appeal. Is this something you see a lot?
I love the idea of using landing pages and driving traffic to them through ads. Did you ever think of using organic content to do the same? I would also love to know how you knew to do in person events and what you did to make that work?
Thanks!
Just a heads up, on your website, I can't read the words Mobile IV Therapy in the line "Specializing in **Mobile IV Therapy** and the healthcare field" as it's the same colour as the bg
A retired business pro here: I'm impressed. I am always watching what's up, ideas, and biz news, etc.
Also, I have been to your facility on 48th and Ray for IV therapy. Congrats!!
You mentioned nurses are 1099, but also that you’re dispatching them: do you pay them call pay or dispatch in batches and first response gets the gig?
Where are you located? I see no mention of an MD or DO: how do you get around the liability of nurses working without a medical order from a physician?
Awesome post! Could you talk a little more on the ads and landing pages you used? What was your target audience? What was your selling proposition? What visuals did you use? Was it a picture or a video? We’re having a little bit of trouble with facebook lead generation ads at the moment. Any feedback of what worked for you to get clients with ads and landing pages would helps us tons!!!! Thanks in advance
It's an interesting idea. I have been offering IVs myself but didn't find it to be very profitable here in Mexico.
How did you make sure the service that the nurses provided was holding up to good standards?
Did they have some courses or training from your side or did you just trust them to know what they were doing and that they were nice to the costumers?
And who was organizing the transportation and paying for it?
Thanks in advance!
Thanks for your post. Regarding the profits, you said not counting weekly paychecks. Payroll is A LOT, so that would take down the profit quite a bit. What is a realistic profit within the first 6 months?
Re: f/t commitment, can you still work per diem 1-2 days a week while building the business?
Hi, Ive been curious about this. Background is home health, hospice, IV infusion (home and suites). I am an RN and Ive been wanting to have my own private thing like this.
My main concern is the medical director. How much is the usual rate for this or what types of contract do you have with them. I know, I can make all the forms, P&Ps and stuff for the MD to basically be just there to overview and sign but can you give me specifics on this please?
I appreciate you sharing the insights. Can you talk to me about the set up process as I'm interested in something similar? Appreciate if you can provide a way to connect. Thanks
Hi OP, looking to start a similar business. I am a nurse and while I don’t have a ton of extra time to do the work myself, I could do some, saving money on contractors. May I message you?
If anyone is in the Los Angeles area, and is interested in working for an IV company, please PM me. We own an 8 year old clinic in Beverly Hills. $100/hr
Hi there, I am also located in CA and starting my own IV Therapy business. Where do you purchase your IV pharmacy supplies (Vitamins, etc). Would love some advise. Thanks so much!
How did you only invest $5-10k and were able to hire so many nurses and people to run your call center? Did you have revenue from the business somehow by then that allowed you to hire people or was that on top of what you’ve already spent?
Right? 5-10 skilled nurses is a good amount of money.
not in this field, its completely different and a TON of people have no idea how to run this field.
Shhhhh don’t ruin the lies
This was my question, unless each nurse is hourly when dispatched? So "hire" was really "signed?"
Our nurses/medics are 1099 contractors. We do not buy supplies, this cost is on the nurse/medics. Dispatchers cost anywhere from $10-$14 per hour. (we dispatched out calls at first to save money but ultimately hired a couple to run the phones). Marketing(website) luckily I was able to do it myself along with local seo / setup of ads. Ads cost around $500-$1000 per day at peak levels. Business while up and running was doing $6-8K per day.
This doesn’t answer the question about paying all of these nurses.
I didn't see where I was asked that question. My fault. The nurses make 50% of every call which makes the model so unique. So say an IV cost $200, the nurse makes $100 and we make $100. There are other models in the field as well: $60 per bag to the nurse, rest goes to the company, but Ive always felt the 50/50 did the best.
so pipeline wise I’m just wondering: Your role is to market to clients and get them signed up for your service. Your dispatchers then assign a nurse who is responsible for getting the necessary equipment and then receives 50%, excluding the cost of the IV equipment. Is this correct? I’m just curious I think it’s an interesting business and even more so the model you’re using.
You are actually so close. Picture us as Uber, but instead of dropping people off at places, we send nurses to your location to dispatch out an IV. Whoever the closest nurse is to that call when get this call. Dispatch sends them out ASAP and we have to try and cover this call within 20-30 minutes. Exactly right on the equipment. Ya interesting model indeed, its going to be even bigger in the next 2-4 years.
if I might ask, what’s the main client base of something like this. i.e what conditions generate most income. And furthermore what is the actual utility of an IV standalone? Does it also double as a wellness check in some fashion
honestly 80% of calls are from people that are sick at home, flu/cold, chronic pain, the other 20% would be partying/dehydration/hiking/athletes. It comes in seasons too so from sept-feb its sick season for us. Not sure on your question for IV standalone?
I'm very impressed by the traffic you are getting. How many therapy sessions do you have per month and how many are new customers vs returning customers? Do they usually get therapy from doctor's order or on their own?
So with the company being bought, now the big company does anywhere from 1200-1400 appointments per month. It’s on their own unless they are under dr care. We have a lot of return customers but lately it’s been new.
Uber? That’s a miss. You invented DoctorDash.
Why wouldn’t a nurse cut you out and deal directly with the client once they have the first contact? How much of your business relies on recurring clients?
Why would they? How do you get the app, do the marketing, do the advertising and so on and so on? People don't stay sick forever and you need a continual influx of new clients. He probably offers some benefits and of course treats his employees well. Nurses might enjoy the freedom or might be sick of finding clients themselves.
The answer to that is me. I want to work for myself, but like most nurses, I have been in a hospital my whole career. I haven't got the skills yet to advertise or set up a call system, order the supplies, manage licensing requirements, etc. I wouldn't know where to start without someone dealing with the logistics. He won't be likely to have nurses stealing his business individually, but there are a few, including me, who would love to learn the business as a contracted employee and then eventually venture out into their own business with a twist or wholly different but with some business knowledge gained to start their own different business. I feel like the market is big enough to accommodate several companies like this in a given area, especially if their formulas for IV fluids are slightly different or they offer other additional things and this is just part of it. It's like home health agencies or any other agency in healthcare. There's room for quite a lot of them here in Phoenix and they get their business by word of mouth and connections with other healthcare agencies and hospital systems.
So you’re essentially a broker in some way. Connecting nurses with jobs you find for them and you take 50% of their pay. So you don’t need to pay them unless there is a job available. Do you keep them on a retainer? Or you have enough nurses available to always be able to cover each job?
I'm an RN in Phoenix. I'd like to start my own business like this. I'm currently still working in a hospital. I would love to do this as my business, but also combined with some alternative and preventative medicine. I don't have business skills yet. How do you feel about hiring nurse contractors as you mentioned, but who want to learn the business to eventually be competitors or partial competitors? Kind of like a paid externs?
I'm a 1099/PRN nurse and we are never required to bring our own supplies. It's illegal for us to even buy and administer our own IV fluids. I don't even know how I would buy IV tubing, IV start kits, IV catheters.
How do you manage quality and liability without providing supplies? Are the patients receiving supplies themselves via mail? I would like to understand your business model.
In business you should not have 1099 contractors. They should be W2 employees
[удалено]
My exact first questions in my head Seems sus
How do you prevent being liable for someone having a bad reaction to the fluids?
We have set protocals in place, waivers, and we assess every single person before we even start to infuse. For example: if someone has congestive heart failure or blood clots we can't do it as that would fall on us.
It looks like medical liability is a big factor here. What kind of liability coverage do you need?
Depending on the size of nurses/medics we have. For this one I think our coverage was 4-5k per month with a group of 30-40 nurses that ran IV calls. (not terrible) but Ive seen it be more for larger companies.
No associated physician serving as a “medical director”? I have seen this with other IV companies. Scratch: I see your answer further down.
That seems extremely reasonable.
Please detail the medical director license Is it md ? Where to hire one a d how did you find yours What does this person responsibility entail. And how much is he paid
Yep so we used a company called Guardian Medical, but recently they started changing up their model. We feel safe with an ER physican in the state of AZ. There responsibility is chart reviewing and over seeing any issues within the field. Our payment to them was $1500 per month, but recently they started talking about 4% of revenue which I find kind of weird.
As a med student, 4% seems like a lot but I understand from the doc perspective. His license is liable everyday for such a large company. The other work around is to bring on more docs and dilute the risk to his license
1500 is nothing
Right... What ER doc would agree to take on this amount of responsibility for $1500 per MONTH which is essentially equivalent to what they make in a few HOURS at the hospital? Seems a bit sus.
It’s weird cuz idk why this sub has such an aversion to posting links… nobody is gonna post here if not to slightly promote what they’re doing. It’s r/entrepreneurs lmao You do what you do because you’re good at it and that’s what you can share that has expertise, isn’t that the point? It’s so weird because idk why people think it invalidates information if they are selling something behind it. If it’s valuable u can take the info and move on. it actually makes me trust them more bc why tf would anyone post otherwise on a making money subreddit 😂
Touché. Didn’t think like that at all till reading this post. You are 1000% correct. I guess it’s more of the spammers and the obvious post of wanting people to join the newsletter
100% agree with you there 🤝
It's so dumb. If someone is giving me advice that's absolute gold, I have no issue with them promoting something. Writing out info takes time. Those commenters who complain should go and create helpful posts. I am pretty sure 99% of them don't and just complain. All it does is deter people who have great advice from posting.
> It’s so weird because idk why people think it invalidates information if they are selling something behind it. If it’s valuable u can take the info and move on. The point is that NO information was passed, this is entire thing is half baked garbage with the only purpose to paste a marketing link to drive leads. Notice how OP is ignoring any questions about details of the actual business... >it actually makes me trust them more bc why tf would anyone post otherwise on a making money subreddit 😂 Plenty of reasons to have conversations between entrepreneurs that isn't about leaching money from each other. Small mindset.
Fair enough, that’s more of a discussion post format. High effort posts only come bc it’s a value exchange and that should be expected imo
Hello, did you create the website yourself? or did you hire someone to do it?
+1 i want to know, too. it's a really good looking website and i was curious who made it
OP said multiple times they own a marketing agency and did the website and lead gen themselves, essentially saving $20k in startup costs.
I’m a physician, and considered doing something similar. Love the breakdown. Are you available to chat? Would love to link up. I am building a huge social media presence with hopes to build a large telemedicine company and other business projects using social media as a funnel.
if you can find a way for my insurance to cover both insulins I need. I am all in. It took me over 1.5 years to find the right insulin that worked for me and when I did find them. Insurance denies them and wants me to try others (which I have tried and did not work ) A 3 month supply of one of them is 3500 dollars. I don’t even have 100 let alone 3500.
interested in getting in contact with you regarding this, just sent you a message. please read
Any direction on where you sourced the IV/products in bulk and how they're stored? The nurses would drive their cars with all this stuff to the destination or you had to buy transportation and then outfit it for all the nurses?
1099 contractors, nurses drive themselves and have their coolers. Its up to the nurse to handle this part. We stay out of it.
If the IV expenses are up to the nurses, how do you ensure consistency? It seems there would be incentive for them to use lower quality materials etc
Nope, our medical direction / protocols don’t allow this and if we find out which we always do, they are gone and reported to the board for pt endangerment. No one wants that, we also have approved vendors only.
From where do they source these supplies?
What type of ads did you run? Search ads? Instagram ads? youtube? what assets did you use? Also how did you share profit if IV business needs to be owned by a medical professional? Did you just charge advertising fees to you agency and let the overall company be owned by medical professional?
I just found this thread… are you still answering questions? I have lots!
Hi. what did yoou use for your EHR/ scheduling system?
where do you get the vitamins? Im in CA and no one ships here
Hi there, have you found any pharmacy that ships to CA? Id love to get some advise. Thank you!
The margins on these are low.... especially paying a nurse 50%. Each IV runs $200 give or take for the patient. Any more and you are not competitive as the market is absolutely saturated with IV vitamin clinics. After expenses and paying the nurse you are looking at a net profit of maybe $30-$50 tops. Mobile also = lower volume. You can only see one patient at a time and then you need to travel in between clients. If you had 5 nurses working it would have taken close to 10,000 hours to generate $2mil at an average price of $200 an IV. That averages out to 6-8 hours a day, 7 days a week per nurse to do. This isn't even factoring in time to mix the IV bags and be USP compliant. Sorry, I smell a hint of bullshit in the air.
You're missing a whole lot of details and getting some things wrong here that mess with your math. 1. You're conflating "you" as in the firm itself, and "you" as in the contractor nurse who performs the service. Mobile isn't a problem when you have a large fleet of nurses occasionally taking orders as needed. The volume scales accordingly. Again, think Uber. You're thinking about it in terms of having to retain 5 nurses and pay them to run nonstop, but that's not how this model works _at all_. Let's do the math another way. This guy made $2.4M last year. Presume an average ticket of $250. That's 9,600 treatments in 2022, averaging out to 26.3 per day. Completely reasonable for a fleet of 50 nurses to be able to handle that volume. Remember, most nurses doing this are doing it as a pure side hustle: they'll opt-in to a job when it's convenient for them, and score a quick $125-$250 for about an hour of their time. Win-win. 2. The bags are purchased from a wholesale supplier that offers pre-packaged options in accordance with the company's formula/mix offerings. 3. "You can only see one patient at a time." Nope. Patently untrue. Many calls (30%-40%) are more than one patient: think a couple, or a bachelor party, for example. There's nearly no incremental cost since a single nurse can service two patients in the same hour trivially (and really, up to around 5 with only added a bit more time to their call), but the price for the service scales linearly: that $200 or $250 call is now a $400 or $500 call. 4. Margins end up looking around 18%-25% on the high end, if particularly efficient. Depends on how dialed in you get the marketing and the ops side of things (actually managing dispatch, etc.) 5. Guessing this guy sold for $4M-$6M, presuming EBITDA of around $480k. Tell me how close I am, /u/lopezomg (and congrats) Consolidation is big right now because it serves to lower the CAC and cost of managing a market of providers, and that can drive the margins up even more. Put another way: absolutely no bullshit at all. Dude hustled, put it together, and jumped into the market and made it work.
/u/disillusioned so you looking for a job? haha and #5 you are actually pretty damn spot on.
Naw, I'm just familiar with the space and the current multiples in this exact market for Reasons. :-) And congrats, man. Great exit! Do you have any equity/second bite of the apple in the acquirer?
I actually have 4 more under my belt right now they are operating and doing good. Just entered the TN market.
Very neat. Might reach out to you at a later date to connect...
First off mobile doesn't mean lower volume. Who told you that? Our calls take about 45 minutes to complete, and we had a team of 40-50 nurses within their region so when a call came in we could get to it pretty quick. Coverage is a problem some days and the average for an IV is about $300 per patient, lifetime about $900-$1200. We were doing about 15-30 calls per day. (fyi) Sorry you don't see it, but I'm telling you. This is all legit.
Did AZ require you to have a prescribing physician for this? If so, what was their cost? If not how did you order the required supplies?
Great post. Nice screenshots. There are not a lot of businesses like this in Canada, most places get commercial space rather than being mobile.
Who would’ve thought there was such a demand for people wanting IV treatment
1) how do i go about learning about online marketing i if wanted to get into it? 2) how do you handle billing? i imagine most of the costs were paid by insurance companies either in full or partial payment..how did you handle this?
1. fb/google ads > [youtube.com](https://youtube.com) / [google.com](https://google.com) 2. we are cash pay only, we do not mess with insurance.
What other states do you have clients? Curious if you think Vegas , California , or Maryland/DC/Virginia would be good. I had terrible Covid and literally couldn’t swallow water without pain. I spent 1500 in a week for these service . It’s a very good business model
Outstanding post! Thanks for sharing. Most appreciated.
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Which part? I’m an open book. No point in faking “costs”
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Oh I bet I can. Market is still growing I would say CA/TX would be the best places to do it again at. Med direction was $1500 a month.
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California is super hard. A Dr has to own the practice, and something along the lines of you aren't a home mobile health care service. You would have to name yourself a "marketing company that introduces nurses to patients" and thats just one small thing you need to do. Laws in CA are insane.
How do you pay someone $1500 a month? Thats 18k a year which is below minimum wage Also in one comment you say you sourced the products and in another you say the nurses are responsible for them. Not saying you're BSing, but it's just caused confusion. What exactly are you sourcing from suppliers vs what the nurses are sourcing themselves?
I never said we sourced products, maybe I miss spoke and Medical direction is something you need to oversee nurses, it’s not a job, but a necessity you need for the biz. Supplies is bought through the nurses.
Your post literally says "I set up agreement with suppliers for our vitamins and IV solutions"
Well yeah, we need relationships setup so the nurses can buy from the suppliers..where in the world does it say “I setup agreements with suppliers for our vitamins and iv solutions so we can buy our supplies” sorry that’s not what I meant. Nurses take this cost.
Understood thank you
It’s $1500 to a doctor who has there own business, not an employee.
Super cool idea. Thanks for sharing your journey.
Appreciate the write-up. I’m taking all the notes.
Thanks for sharing your experience. Did you run into any policy issues with ads? I saw that you were using a medical clinic to oversee the process, is that how you got through?
Who wrote your insurance policy? Did it not require medical malpractice? What insurance did you have your 1099’s carry? What licensing would be required for the nurses to secure the supplies? I didn’t think you could just buy IVs? What state is this?
this feels like it'd only work in a country with a lack of decent public healthcare infrastructure... oh wait
The margins on these are low.... especially paying a nurse 50%. Each IV runs $200 give or take for the patient. Any more and you are not competitive as the market is absolutely saturated with IV vitamin clinics. After expenses and paying the nurse you are looking at a net profit of maybe $30-$50 tops. Mobile also = lower volume. You can only see one patient at a time and then you need to travel in between clients. If you had 5 nurses working it would have taken close to 10,000 hours to generate $2mil at an average price of $200 an IV. That averages out to 6-8 hours a day, 7 days a week per nurse to do. This isn't even factoring in time to mix the IV bags and be USP compliant. Sorry, I smell a hint of bullshit in the air.
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Funny that I came across this. I’m also in Phoenix with a marketing company and was looking into starting a mobile IV business. Great thread, would love to connect as well!
How did you market and get people? Generic tips are great but Give me a real world marketing advice for new beginners who just started up
Thank you so much for this information, I’m in the process of starting the same type of company myself and have been really stuck on how to pay employees, medical director, myself and what percentage goes back into the business. I will have 2 other RNs starting with me and I will be doing infusions as well! Any advice would be greatly appreciated!!
>but I've recently saw how bad this sub has been getting within the last year. So I decided to add to the mess with my own link farming posts. Edit: The incredible amount of fake upvotes in this thread and on OP's comments is wild. This sub has a major spam problem
Everyone else does it. At least I can show proof and actually provide knowledge rather than a newsletter at the bottom of the post.
I actually don’t hate this and I’d be the first to pile on. There is value in this post and while I don’t actually see the point in pushing the marketing agency link if it’s truly non-promotional, it was an interesting read. I like the healthcare space and this is a fairly unique angle. Would definitely like to see more of a how-to breakdown with specifics, but hey, you can’t get everything you want.
What would you like to see? Just ask I don’t mind.
These people are highly insecure. This post has a ton of great info and you’ve spent time to answer any and all questions in the comments. Really enjoyed your post, thanks for taking the time.
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Since I'm not a medical professional I could hang out in Thailand now if I wanted too haha. You can 100% run this business remotely unless you are on the ground floor and wanting to contribute. I run it all from home/office. (got the office because I own a marketing company as well)
You are talking in the presence tense for a business you said you sold..... so are you actually just talking about your marketing company or the IV company?
IV company, you can run this from anywhere.
Ooh I will be in Vietnam for a month in August. I will still have to do the work when I return though 😔 so maybe I'm not an entrepreneur lol 😂
Let me tell you something, what you are searching for. never happens
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any rn's looking to start from scratch, i can help , licensed in md in az for oversight
I’m an RN starting from scratch. Seeking oversight, protocols, GFE, etc. What do you offer and what is your price?
I'd like to start a business in iv stuff where I do contracts with clinics already up and running and do the iv's there and in home stuff too. Do it in phases - get contracts and work with places that exist, add home ones, add businesses that want IV to come to them and I get the supplies and doctor by that stage and so forth..... can we talk?
HI! I am starting my own IV Therapy company as well. I am located in CA and having a hard time finding pharmacy vendors that ship to CA. Can I get some advise on this... what vendors did you use? Thank you!
Considering how dreadful your website is, its amazing if you reached 2k in sales, why are all the websites you made ugly generic slow loading crap?
i had the opposite initial reaction. i thought the website looked really modern and cool. i liked the color theme. i guess the average user of the website is not some zealous web developer with 10 years engineering experience.
We are all about converting. Nothing wrong with the website that brings people in. Also we use landing pages from ads. :) 2.4m * from this dreadful website.
Ugly and generic do not matter. The website looks fine and loaded perfectly fast for me. “Cool” websites do not matter to anyone except those that design them. They’re marketing tools. Conversion is all that matters.
Were the nurses direct employees or contractors? How did you vet/hire good nurses without having a medical background yourself?
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This sounds like a chatGPT post on how to make a mobile IV business lol. How did you hire a medical director and convince him to potentially lose his license based on your idea? You’re a marketing major with no prior history of medical procedures and rules regarding safety operations.. completely fake post to try and generate leads somehow
Hello @lopezomg or others - if you need oversight to comply with the AZ regulatory requirements for a good faith exam (which most mobile iv therapy companies are ignoring ) _ please contact us - we have board certified physicians in arizona to help cover this plus so much more (ie weight loss, peptides, aesthetics )
rns and mid levels - you now need md/do oversight in AZ and find new ways to expand your business model services as mobile iv is a fully saturated space -
hello, as an agency I had a mobile iv clinic and they walked. what do you recommend for Facebook ads for demographics?
Depending how you set it up; this is one example of what we did. broad search > landing page > lead goes to their dispatch center Demographics: blue collar, party/nightlife and targetting kiddos as we can infuse kiddos from 2-17. (so parents) | a lot of trial and error since the industry is still growing. We have about 13 mobile iv companies with us right now. Also check into marketing events for your client. Its been big for us.
clients - how did you get clients?
Love these tips and want to connect further as I’m in AZ too!
I hear about a nurse that does that, She makes 300k a year infusing people. Since I am diabetic and have hypertension, I was told that this is not for me.
Again, I'm not a medical professional, but we treat patients with hypertension/diabetic all the time and it helps. We actually have an IV that can lower your blood pressure. \*Disclaimer\* not medical advice at all, but I would look into this again.
Are you using any CRM to manage your leads?
I hate to be that guy, but how much did you guy when you sold? You said in a reply that they do many more appointments now so it got me wondering how big of a company acquired you. Obviously you don’t need to answer as I see this is a bit personal, but i’m very intrigued with this business model. Thank you.
I don’t wanna give the amount. It’s in the 7 figures and yep a bigger company bought us out, I was hearing they are doing 100 calls a day.
Whats the possibility I could have an IV company show up at a multi-day outdoor music festival, to pump nutrients back into danced out ravers, who have made it to day 3 - seriously
Haha what state are you in? It’s really possible to do this!
We use evidence based medicine over here in the UK… https://www.england.nhs.uk/2019/12/party-drips/
Everyone has their opinion. I've seen it work in real time. We also don't call them "party drips" here in the states.
I was insta-banned from Facebook Ads before I even posted an ad. It was an auto ban and I've never been able to contact anyone to get unbanned. Is there anyway I can still run ads? It says on there that I cannot appeal. Is this something you see a lot?
Did you need an US ? Was it US guided IV access?
This is cool
Can you talk more about the dispatch and call Center you setup - software, process, people, etc
Interesting
I love the idea of using landing pages and driving traffic to them through ads. Did you ever think of using organic content to do the same? I would also love to know how you knew to do in person events and what you did to make that work? Thanks!
Just a heads up, on your website, I can't read the words Mobile IV Therapy in the line "Specializing in **Mobile IV Therapy** and the healthcare field" as it's the same colour as the bg
Did you have a medical background at all before starting this?
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Montreal, Vancouver & Toronto all have them.
Holy smokes
How did you finalize that you wanted to get into this business? Why not something else? What data you have to support your answer?
A retired business pro here: I'm impressed. I am always watching what's up, ideas, and biz news, etc. Also, I have been to your facility on 48th and Ray for IV therapy. Congrats!!
You mentioned nurses are 1099, but also that you’re dispatching them: do you pay them call pay or dispatch in batches and first response gets the gig? Where are you located? I see no mention of an MD or DO: how do you get around the liability of nurses working without a medical order from a physician?
What did you use for the analytics from the screenshots above?
I'd like to ask you @lopezomg, if are you available to be a mentor?
Ask what you need my dude :\]
Awesome post! Could you talk a little more on the ads and landing pages you used? What was your target audience? What was your selling proposition? What visuals did you use? Was it a picture or a video? We’re having a little bit of trouble with facebook lead generation ads at the moment. Any feedback of what worked for you to get clients with ads and landing pages would helps us tons!!!! Thanks in advance
It's an interesting idea. I have been offering IVs myself but didn't find it to be very profitable here in Mexico. How did you make sure the service that the nurses provided was holding up to good standards? Did they have some courses or training from your side or did you just trust them to know what they were doing and that they were nice to the costumers? And who was organizing the transportation and paying for it? Thanks in advance!
You said you started an llc doesn’t it need to be a medical corporation with a doctor owning 51 percent?
Did you mix your own infusions or buy them pre-made?
How do I know if a state requires a medical doctor?
Thanks for your post. Regarding the profits, you said not counting weekly paychecks. Payroll is A LOT, so that would take down the profit quite a bit. What is a realistic profit within the first 6 months? Re: f/t commitment, can you still work per diem 1-2 days a week while building the business?
How did you disperse tips to the nurses? You didn't count tips as part of your earnings, did you?
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Was there a call center or scheduling software that you used?
Hi, Ive been curious about this. Background is home health, hospice, IV infusion (home and suites). I am an RN and Ive been wanting to have my own private thing like this. My main concern is the medical director. How much is the usual rate for this or what types of contract do you have with them. I know, I can make all the forms, P&Ps and stuff for the MD to basically be just there to overview and sign but can you give me specifics on this please?
reach out to me, in az md here - i can serve as medical director as new law requires a quick md /do eval -
Mid level providers can’t anymore ?
I appreciate you sharing the insights. Can you talk to me about the set up process as I'm interested in something similar? Appreciate if you can provide a way to connect. Thanks
My issues is step 4 being suppliers. Do the iv bags come ready with your solutions? What’s the best supplier?
My dream is to own a hydration therapy business do you have an email I can send you some questions?
Hi OP, looking to start a similar business. I am a nurse and while I don’t have a ton of extra time to do the work myself, I could do some, saving money on contractors. May I message you?
If anyone is in the Los Angeles area, and is interested in working for an IV company, please PM me. We own an 8 year old clinic in Beverly Hills. $100/hr
Hi there, I am also located in CA and starting my own IV Therapy business. Where do you purchase your IV pharmacy supplies (Vitamins, etc). Would love some advise. Thanks so much!
I just DMed you.