Virtualmh.com | Application Preview
Virtualmh.com is seeking government grants to fund the integration of their headset technology with eye-tracking software and to conduct a clinical trial with up to 150 participants, which may be reduced if preliminary results are promising. The funding will cover programming costs and the clinical trial, estimated at around $550,000.
The business plan highlights the significant economic burden of PTSD, costing the U.S. economy $232 billion annually, with the military alone spending $3 billion each year on treatment. By utilizing their headset in the field, soldiers experiencing traumatic events can receive timely treatment, potentially preventing acute stress disorder and subsequent PTSD. This approach not only enhances military readiness but also significantly reduces treatment costs, from $25,684 to much lower figures for both military personnel and civilians. Civilian applications could extend to first responders, crime victims, and those affected by disasters.
Virtualmh.com proposes a compelling case for funding by showcasing their proven success in private practice, with an over 80% success rate during the past four years. Their proprietary headset, now in its fourth version, is an improvement on existing methods, particularly when compared to competitors like the Institute for Creative Technologies, which employs a more painful treatment protocol.
The company differentiates itself through a rapid treatment approach that can significantly lower patients' discomfort regarding traumatic memories in just a few sessions. Their long-term vision includes automating the treatment process, enabling broader access and clinician oversight. Virtualmh.com aims to reduce trauma nationwide while generating revenue to support pro bono therapy initiatives.
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General Information
Business Registration Number: C4112983
Location: SAN PABLO, CA, United States
Length of Operation: 1-5
Number of Employees: 1-10 Employees
Annual Gross Income: Less than $100k
Annual Gross Expense: Less than $100k
Open to Loans: YES
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Funding Usage
Funding will be used for programing to merge the headset with the eye tracking software. Additionally 550000 of it will be used to run a 150 person clinical trial. This trial can be downsized if it is determined that proof of concept can be achieved with a lower head count.
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Business Plan
The yearly cost to the us economy of PTSD is 232 billion dollars, the cost to the military is 3 billion dollars a year. The cost to maintain a soldier is 99000 a year. If a soldier in the field has a traumatic incident, this can lead to acute stress disorder and the soldier returns home. If they are treated in the field via headset, the acute trauma is forestalled, stopping PTSD. This is a force readiness aspect of the headset. The asset is maintained in the field, and when they are discharged, the instances that would cause PTSD have been processed to neutral. This will save the annual cost for PTSD treatment of 25684 per individual. With the military we have room to grow. With the civilian population, the cost ot PTSD treatment is 18640 per individual, with our system this cost can likely be brought down to under 9000 dollars. Possible groups for treatment are police, fire people, victims of crimes, school shooting victims, prison guards, prisoners. Victims of natural disasters. Private investors and the government should invest in our company because we are the company looking at automating PTSD treatment, and have been using the protocol and headset in private practice for the last 4 years. The protocol has in excess of a 80% success rate in practice. The headset is on version 4 and continues to improve. We are willing to dedicate ourselves to the success of this project, and have developed the clinical resources needed to move forward when we have the financial backing.
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Self Identified Competition
Our primary top competitor is the Institute for Creative Technologies who is using VR to treat PTSD using Prolonged Exposure. A painful treatment that often leads to individual dropping out. Our primary other competition is individuals who are in private practice. There are over 577,000 providers, as that was the 2017 statistic from the Bureau of Labor and Statistics. There are several differences between us and our competitors. We have a protocol that rapidly, 2-6 sessions reduces the subjective level of discomfort a client feels with the memory of a trauma from as high as a 10 ,(the worst memory ever), down to as low as 0, (neutral memory). This can occur in one session with the average time taken to be 32 minutes per trauma. The second portion is the long term goal of automation, which can make the headsets available to whomever needs them, will walk the client through the protocol, and will charge for a session, with the system monitored by a clinician. The goal of our company is twofold, to develop and market a product that will decrease the level of trauma in America. Secondarily that will generate levels of income for all who are involved. A portion of company profits will go to support pro bono therapy, non trauma base.
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