CheckUps COVA

CheckUps COVA is solving the problem of access to health financing for the uninsured population in Africa, which stands at around 300 million people. 

Approximately 20% of households in Africa borrow from informal sources each month to cover health expenses, leading to a range of negative consequences. This financial burden of healthcare falls disproportionately on women, who often coordinate care for their families. In sub-Saharan Africa, out-of-pocket healthcare expenditure pushes an estimated 27 million people into poverty annually. Informal borrowing to cover medical bills can lead to delayed care, resulting in complications and even death. In fact, 63% of bankruptcies in Africa are due to high out-of-pocket health costs.

Moreover, the need to repay informal loans can cause families to sell assets or lose them altogether. Women may also be exposed to violence and sexual exploitation when seeking informal loans. In Kenya, for example, 40% of women who borrowed from informal sources reported experiencing violence or harassment.

CheckUps COVA addresses this problem by facilitating micropayments from banks or third parties, which unlock health benefits worth four times the initial investment. These benefits can be shared within the family, allowing for on-demand access to care at home. By providing a formal credit solution for health expenses, CheckUps COVA aims to reduce reliance on informal borrowing and its associated risks.

The scale of the problem is significant, with an estimated 85% of Africa's population lacking health insurance. In Nigeria, 97% of the population is uninsured, while in Kenya, the figure stands at 93%. By targeting this vast underserved market, CheckUps COVA has the potential to improve health outcomes and financial stability for millions of African households.

Through our innovative platform, we strive to create a world where microloans from formal sources can provide instant credit for health bills, eliminating the need for informal borrowing and its devastating consequences. By empowering women and families with access to affordable, reliable healthcare financing, CheckUps COVA is working to build a healthier, more equitable future for Africa.

CheckUps COVA is a hypersecure, cloud-based payment and health benefits management platform accessible through WhatsApp. Our AI-powered tool allows for voice-to-text and text-to-voice enrollment, enabling users, especially those with lower literacy levels, to interact with the app as if they were talking to a friend. The multi-lingual functionality that converts voice-to-text in major African languages further enhances accessibility.

Payments into CheckUps COVA unlock four-times the value in outpatient benefits, covering general and specialist consultations, nurse dispatch, lab tests, X-rays, ultrasound, ECG, and medication. With COVA, a mother can simply text or speak to us via a message and receive care within the limits of her accrued benefits.

For our customers, unlocking health benefits through CheckUps COVA means:

1. Peace of mind
2. Feeling in charge as a nurturer, fulfilling the maternal desire to protect her family
3. Avoiding humiliation when borrowing money
4. Fostering thriving businesses and rewarding hard work
5. Easing the burden that hinders her from feeling whole, allowing her to focus with assurance
6. Feeling like a winner when she saves and receives excellent care at home
7. Being comforted by belonging to a movement that believes motherhood should not be a punishment
8. Equating a unit of sale -- that basket of tomatoes, chicken, or plates of food -- or a day's earnings to health benefits

By providing a convenient, accessible, and affordable solution for healthcare financing, CheckUps COVA empowers women to take control of their families' health without the stress and shame of informal borrowing. Our platform not only improves health outcomes but also promotes financial stability and dignity for our customers.

The solution changes the way health care is financed forever!

Modern forms of health financing have failed to scale beyond 5% of Africa. The solution changes the way health care is financed forever!

CheckUps COVA is positioned to serve the 84% of Africa's households that have access to formal financial services and products and yet, are UNINSURED or UNINSURABLE.  When sick they access financial services through informal and non-regulated channels like money lenders and shopkeepers. 

Our target population is women aged 30 and above, likely parents with small businesses, who are uninsured and working multiple jobs. They are excluded from current forms of health financing.

In Africa, 37% of health spending comes from out-of-pocket payments, placing a significant burden on households. For example, in Nigeria, a household with an adult suffering from a non-communicable disease (NCD) spends approximately $400 per year on healthcare, representing 24% of their food expenditure. In Kenya, this figure is $413 per annum. Liquidity distress, including health shocks, negatively impacts financial well-being, with 1.2 million Kenyans falling into poverty annually due to medical bills.

Our ideal customer is the decision-maker who determines who needs care, when, how, and where. This is the WOMAN of the House. She is likely to spend the most on healthcare for her children, parents, and friends, often relying on personal savings, informal borrowing, microfinance loans, working capital, or support from male partners. When these options fail, care is delayed, diseases worsen, and hospitalization leads to more bills and poverty.

CheckUps COVA addresses these challenges by providing an accessible and affordable healthcare financing solution. By enrolling in CheckUps, a woman in the market can dedicate the earnings from one basket of tomatoes to COVA, and after 100 days, she will have unlocked sufficient benefits equivalent to $800 worth of care. This eliminates the need for anxiety, sexual favors, stress, delays, and missing work when faced with a health bill.

Our solution offers quality care equivalent to private insurance, surpassing public outpatient care, and at a 60% lower cost than out-of-pocket payments. By leveraging mobile money transfers (MMT), CheckUps COVA helps households increase utilization of CheckUps direct-primary care services, including clinic visits, consultations, and medication.

Through CheckUps COVA, we empower women to take control of their families' health, providing peace of mind and financial stability. Our platform not only improves access to quality healthcare but also helps to break the cycle of poverty caused by medical expenses, ultimately transforming lives and communities across Africa.

Dr. Moka Lantum and Renee Ngamau lead CheckUps as a passionate duo with medical, legal, finance, and health financing expertise. Their combined experience and deep understanding of the challenges faced by families and women when accessing healthcare in Kenya and South Sudan uniquely position them to deliver the CheckUps COVA solution.

Dr. Moka Lantum, a medical doctor and health financing expert, has been at the forefront of healthcare innovation in Kenya for the past decade. He built the first electronic medical record system in the country and developed a "doctor near me" app before co-founding CheckUps. Through his extensive work in community-based clinics across Kenya, including Kisumu, Bungoma, Kiambu, Vihiga, and Uasin Gishu, Dr. Lantum gained first-hand experience of the challenges women and families face when accessing healthcare. Driven by his passion for health equity, he developed the algorithm that powers CheckUps COVA using predictive analytics and machine learning from over 2 million claims from Kenya and South Sudan.

Renee Ngamau, a lawyer and women's rights advocate, brings invaluable insights into the legal and social challenges faced by women in accessing healthcare financing. She has personally represented over 3,000 businesswomen who experienced the devastating consequences of borrowing for medical bills or ending up in jail due to petty crimes committed to pay for a loved one's medical expenses. Renee co-founded CleanStart, an organization that helps reintegrate former women prisoners back into society through small businesses. Her deep understanding of the underworld of informal borrowing for healthcare has been crucial in shaping the CheckUps COVA solution.

Together, Dr. Lantum and Renee are driven by their shared frustration with the current system that forces people to turn to the wrong sources for money when faced with a health crisis. Their friend Fatiya, a 62-year-old small business owner and CheckUps COVA's "markee" customer, credits the platform for saving her business and now serves as an advocate for other businesswomen. Fatiya's input, along with that of other customers, has been integral to the product development process, ensuring that CheckUps COVA meets the needs of its target population.

Through numerous product-market testing exercises, the CheckUps team has validated the product-market fit and optimized the customer journey within the application. The team's proximity to the communities they serve, combined with their diverse expertise and unwavering commitment to improving healthcare access and financing, positions them as the ideal leaders to deliver the CheckUps COVA solution and transform lives across Africa.

CheckUps launched COVA in 2023 after extensively validating both the supply chain, with over 350,000 visits (76% of which were in homes), and the algorithm for benefits allocation. We currently have 15,345 registered households on the platform, serving our members from 4 dispatch locations in Nairobi and Juba, South Sudan. Our members span across 6 counties in Kenya and Juba, South Sudan.

Having successfully validated our customer acquisition costs and value proposition, we are now seeking funding to achieve a 10-fold growth within the next 2 years in Kenya and potentially expand into Nigeria. We have already raised seed money that enabled us to develop our supply chain and technology infrastructure. With the solution now available on WhatsApp, we are poised for rapid growth into new markets.

Several factors demonstrate our readiness for the growth stage:

1. Proven track record: Our 15,345 registered households and 350,000 visits underscore the strong demand for our solution and our ability to deliver quality care.

2. Robust technology: The CheckUps COVA platform, now accessible via WhatsApp, is scalable and ready to support our expansion plans.

3. Validated business model: We have successfully tested and refined our customer acquisition strategies and demonstrated a clear value proposition that resonates with our target market.

4. Experienced leadership: Our team, led by Dr. Moka Lantum and Renee Ngamau, brings extensive expertise in healthcare, finance, and legal matters, along with a deep understanding of the communities we serve.

5. Strategic partnerships: Our existing relationships with Philips Foundation, IBM, multiple financial institutions, and community organizations provide a solid foundation for growth and impact.

As we embark on this next phase of growth, we are confident that our proven solution, combined with the support of strategic partners and investors, will enable us to transform healthcare access and financing for millions of underserved families across Africa.

CheckUps COVA leverages a combination of cutting-edge technologies, including natural language processing, machine learning, artificial intelligence deep learning, big data analytics, hashed blockchain, and real-time automatic translation. Our solution is smart, relevant, and customizable to the needs of families while being scalable at the population level. To support these deep tech features and ensure long-term success, we need a robust technology partner ecosystem.

Joining the MIT Solve community would provide invaluable validation of our innovative approach to using advanced technology for development. By integrating health data from a grossly underserved population with their health financing behavior, we aim to unlock more value and drive a transformative shift in how healthcare is accessed and purchased in Africa. The MIT Solve ecosystem offers the powerful partnership we need to navigate this journey successfully.

Furthermore, we are eager to collaborate with the JPAL team to receive monitoring and evaluation support. This partnership would help us:

1. Compute the impact of COVA on the economic and social well-being of families
2. Develop a policy framework that enables national governments to adopt COVA

In addition to technology and M&E support, we hope that Solve can assist us in overcoming specific barriers, such as:

1. Financial: Accessing funding to scale our operations, expand into new markets, and continuously improve our platform.

2. Legal: Navigating the complex regulatory landscapes across different African countries to ensure compliance and smooth operations.

3. Cultural: Adapting our solution to the unique cultural contexts of each market we serve, ensuring that CheckUps COVA remains responsive to local needs and preferences.

4. Market: Identifying and connecting with strategic partners, such as healthcare providers, financial institutions, and telecommunication companies, to accelerate our market penetration and impact.

By leveraging the expertise, networks, and resources of the MIT Solve community, we believe we can overcome these barriers and unlock the full potential of CheckUps COVA. We are excited about the opportunity to collaborate with like-minded innovators, thought leaders, and changemakers to refine our solution, scale our impact, and transform healthcare access and financing for millions of underserved families across Africa.

Joining MIT Solve would be a catalyst for our growth and a testament to our commitment to harnessing technology for social good. We are confident that with the support of the Solve community, CheckUps COVA will become a global model for inclusive, affordable, and accessible healthcare financing.

CheckUps COVA is a cloud-based, hypersecure platform that leverages cutting-edge technology to approach the problem of healthcare access and financing in a new and significantly improved way. By utilizing IBM technology for data security and Watson AI to enhance clinical decision-making, our solution guarantees scalability and enables partnerships with banks and microfinance institutions (MFIs).

The integration of Watson AI enhances the clinical decision-making of doctors who serve patients via WhatsApp-based teleconsultations and supports nurses on dispatch in the field. This innovative approach ensures that our members receive quality care, regardless of their location or socioeconomic status.

What sets CheckUps COVA apart is its ability to address two critical demand-supply gaps in the market simultaneously:

1. Access to formal financing for health bills
2. Access to quality care, diagnostics, and new innovations in medicines

Unlike public health insurance systems, our platform enables members to access these essential services, empowering them to take control of their health and well-being.

One of the most innovative aspects of CheckUps COVA is our commitment to preventive care. Upon enrollment, all our members receive a comprehensive 33-point wellness check, assessing their liver, kidney, cardiovascular, lipid, urinary tract, and cancer risk factors. For 98% of our members, this is their first annual check-up. The data collected during these assessments forms the foundation for optimizing our clinical decision-making, tailoring it to each customer's unique medical profile.

Furthermore, our solution is designed with cultural sensitivity in mind. By integrating voice-to-text and text-to-voice functionality, we ensure that elderly and less literate persons who may struggle with texting are not excluded from accessing our services. The use of WhatsApp allows for voice messaging, image transfer, video conferencing, and multimedia communication, which is crucial for member education and engagement.

This customer-centered approach to design makes CheckUps COVA a workable and scalable solution that addresses the real problems families face when seeking access to finance and care during medical emergencies. As the first direct primary care and financing provider via WhatsApp in Africa, we have the potential to catalyze broader positive impacts in the healthcare landscape.

By demonstrating the effectiveness of our model, we aim to inspire other innovators and stakeholders to develop similar solutions that bridge the gap between healthcare access and financing. Our success could ultimately change the market landscape, making quality healthcare more accessible and affordable for millions of underserved families across the continent.

As we continue to grow and refine our platform, we remain committed to leveraging technology, data, and human-centered design to transform the way healthcare is delivered and financed in Africa. Through our innovative approach, we strive to create a future where no family has to choose between their health and their financial well-being.

CheckUps COVA's theory of change is centered on the transformative power of microloans and micropayments in unlocking access to quality healthcare for underserved families in Africa. Our logical framework illustrates how our key inputs, such as the 4x health benefits unlocked by microloans, WhatsApp accessibility, multilingual features, voice-to-text functionality, and installment payment options, lead to immediate outputs and long-term outcomes for our target population.

Inputs:
1. Microloans or micropayments that unlock 4x health benefits
2. WhatsApp-based platform accessibility
3. Multilingual features
4. Voice-to-text functionality
5. Installment payment options

Outputs:
1. Unlocked 4x health benefits covering 90% of outpatient needs
2. Increased access to preventive care and wellness checks
3. On-demand access to doctors via teleconsultations
4. Home-based access to labs and medications

Outcomes:
1. Timely access to preventive care and early disease detection
2. Improved medication adherence
3. Reduced hospitalizations
4. Increased savings for families
5. Job creation for dispatch nurses, particularly women under 30

Impact:
1. Poverty reduction by minimizing the financial burden of medical bills
2. Improved health and well-being of families
3. Gender equity through job creation and improved healthcare access
4. Reduced carbon footprint by minimizing patient travel for healthcare

Evidence supporting our theory of change:
1. A study by the World Bank found that access to microfinance services can increase healthcare utilization and improve health outcomes in low-income populations (World Bank, 2021).
2. Research by the WHO indicates that telemedicine can significantly improve access to healthcare services in underserved areas, leading to better health outcomes (WHO, 2020).
3. A systematic review by the Journal of Medical Internet Research found that mobile health interventions can improve medication adherence and disease management in chronic conditions (JMIR, 2019).
4. Interviews with our target population reveal that the financial burden of medical bills is a major barrier to accessing healthcare, often leading to delayed treatment and worsened health outcomes.

Monitoring and Evaluation (M&E) Framework:
1. Track the number of microloans and micropayments processed through the platform
2. Monitor the utilization of preventive care services and wellness checks
3. Measure the frequency and outcomes of teleconsultations with doctors
4. Assess the impact on medication adherence and hospitalization rates
5. Evaluate job creation, particularly for women under 30
6. Conduct surveys and interviews to gauge improvements in financial well-being and overall health outcomes

Through our innovative approach, we expect to create 2,000 nurse jobs in Kenya alone within the next 4 years. By reducing the financial barriers to healthcare access and empowering families to prioritize their health, CheckUps COVA aims to significantly reduce poverty caused by medical bills and improve the overall well-being of communities across Africa.

Our commitment to monitoring and evaluating our impact ensures that we continuously refine our solution to better serve our target population. As we scale our operations and expand into new markets, we will leverage the data and insights gathered through our M&E framework to drive evidence-based decision-making and maximize our impact on the lives of underserved families in Africa.

CheckUps COVA's primary impact goal is to restore the dignity of women heads of households by protecting them from the need to resort to informal borrowing to cover medical bills. This protection has far-reaching implications, as it safeguards women against domestic violence and the life-threatening practices often associated with informal lenders. By addressing this fundamental issue, we aim to create a transformational impact on the lives of women and their families across Africa.

Our solution also tackles the exclusionary practices that leave millions uninsurable by traditional health insurance companies. CheckUps COVA's model accommodates the elderly, persons with pre-existing conditions, and eliminates network limitations and waiting periods. By controlling the supply chain, we ensure the quality of diagnostics, labs, and medication, leading to faster recovery and the avoidance of unnecessary hospitalizations.

To measure our progress towards these impact goals, we have identified several key indicators:

1. Number of women enrolled in CheckUps COVA (SDG 5.1)
2. Percentage reduction in informal borrowing for medical bills among our members (SDG 1.4, 5.1)
3. Incidence of domestic violence and other forms of exploitation related to informal borrowing (SDG 5.2)
4. Percentage of members with pre-existing conditions or elderly members receiving quality care (SDG 3.8)
5. Average recovery time for members receiving care through CheckUps COVA (SDG 3.8)
6. Reduction in hospitalization rates among our members (SDG 3.8)
7. Reduction in carbon footprint due to decreased travel for medical care (SDG 13.2)

Supporting Data:
1. A study by the World Health Organization found that women who experience intimate partner violence are twice as likely to report poor health and are more likely to face barriers in accessing healthcare (WHO, 2021).
2. Research by the World Bank indicates that informal borrowing for healthcare expenses can lead to a cycle of debt and poverty, disproportionately affecting women (World Bank, 2020).
3. A report by the United Nations Development Programme highlighted that the exclusion of elderly and people with pre-existing conditions from health insurance contributes to health inequities and poor health outcomes (UNDP, 2019).

CheckUps COVA's innovative solution directly addresses several Sustainable Development Goals (SDGs):

- SDG 1 (No Poverty): By reducing the financial burden of medical bills and protecting women from informal borrowing, we contribute to poverty alleviation.
- SDG 3 (Good Health and Well-being): Our platform ensures access to quality healthcare for all, including the elderly and those with pre-existing conditions, promoting better health outcomes.
- SDG 5 (Gender Equality): By empowering women through access to affordable healthcare and protecting them from exploitation, we advance gender equality and women's rights.
- SDG 13 (Climate Action): By reducing the need for travel to access medical care, we contribute to lowering the carbon footprint associated with healthcare.

As we continue to scale our solution and expand our reach, we remain committed to measuring our impact and refining our approach to ensure that we are making meaningful progress towards our goals. By leveraging data-driven insights and collaborating with stakeholders across the healthcare ecosystem, we aim to create lasting, transformative change in the lives of women and families throughout Africa.

At the core of CheckUps COVA's innovative solution is a suite of cutting-edge technologies that work seamlessly together to ensure secure, scalable, and efficient healthcare access and financing. Our cloud-based platform is built on the IBM Hyper Protect foundation, which offers unparalleled data security and privacy. This technology enables us to safeguard sensitive patient information and maintain compliance with stringent healthcare regulations, while also facilitating partnerships with banks and microfinance institutions (MFIs) who can trust the integrity and confidentiality of our platform.

To enhance clinical decision-making and improve patient outcomes, we have integrated IBM Watson AI into our solution. This powerful artificial intelligence system analyzes vast amounts of medical data, research, and best practices to provide evidence-based recommendations to healthcare providers. By leveraging Watson AI, our platform enables doctors and nurses to make more informed decisions, ensuring that patients receive the most appropriate care based on their individual needs and circumstances.

In addition to supporting clinical decision-making, we also employ AI technology to optimize customer engagement. Our AI-powered chatbots and virtual assistants provide personalized, round-the-clock support to our members, answering their questions, guiding them through the enrollment process, and helping them navigate the platform. This not only improves the user experience but also frees up our human staff to focus on more complex tasks and interventions.

To ensure secure and reliable communication between our members and healthcare providers, we have built our platform on top of the WhatsApp infrastructure. WhatsApp's end-to-end encryption and robust security features protect sensitive patient information exchanged through the platform, while also providing a familiar and user-friendly interface for our members. By leveraging WhatsApp's ubiquity and accessibility, we can reach a wider audience and ensure that even those in low-connectivity areas can access our services.

For our nurse dispatch system, we have developed a custom Android application that enables real-time geolocation tracking and optimized routing. This ensures that our nurses can quickly and efficiently reach patients in need of care, minimizing response times and improving health outcomes. The app also allows for seamless communication between nurses and our central operations team, facilitating effective coordination and resource allocation.

Our technology stack is managed by a dedicated team of experienced developers, data scientists, and cybersecurity experts who continuously monitor and update our systems to ensure optimal performance and protection against emerging threats. By staying at the forefront of technological innovation, we can adapt and scale our solution to meet the evolving needs of our members and partners.

Through the strategic integration of these cutting-edge technologies, CheckUps COVA is revolutionizing healthcare access and financing in Africa. Our secure, scalable, and AI-powered platform not only improves the quality and efficiency of care delivery but also empowers individuals and families to take control of their health and well-being. As we continue to refine and expand our technological capabilities, we remain committed to harnessing the power of innovation to drive positive, lasting change in the lives of those we serve.

FULL TIME STAFF

Metric                        Kenya South Sudan Cumulative
Number of Total Staff 75       20                95
No. of Male Staff        38       14                52
No. of Female Staff    37         6               43
% Female Staff          49%       30%            45%
% Male Staff              51%       70%            55%
No. of staff 35 years old and below 55 16 71
No. of staff over 35 years old 20 4 24
% 35 years and below 73% 80% 75%
%over 35 years old 27% 20% 25%
Management (%Female) 46% 14% 35%
Management (%Male) 54% 86% 65%

Part-time - 30.

2018 - Developed supply chain for medication

2019 - Developed supply chain for labs and consultation via urgent care centers

2020 - Developed Nurse dispatch

2021 - Simulate the data of our in-house services vs insurance claims.

2022 - Develop CheckUps COVA - V1

2023  - Launched CheckUps COVA V2 - web

2024 - Launched Checkups COVA V3 on whatsapp.

At CheckUps COVA, we firmly believe that diversity, equity, and inclusion are key drivers of innovation, creativity, and organizational success. Our commitment to these principles is reflected in the composition of our leadership team, our hiring practices, and the design of our platform.

Our leadership team, led by Dr. Moka Lantum and Renee Ngamau, brings diverse backgrounds and experiences to the table, ensuring that our strategic decisions are informed by a broad range of perspectives. We actively seek out diverse candidates for leadership roles and provide equal opportunities for advancement and growth within our organization.

To ensure that our solution meets the needs of diverse communities, we have conducted extensive customer validation testing in various regions, including Lamu, a predominantly rural, Muslim community. By engaging with Muslim women in Lamu, we gained valuable insights into their unique challenges and preferences, allowing us to refine our platform to better serve their needs.

We are proud to have a diverse workforce, with a particular focus on empowering women and youth. Our freelance nurse program comprises 90% women and young people, providing employment opportunities and professional development for these groups while improving healthcare access for our members.

Our hiring practices minimize barriers to opportunity and ensure that all candidates are evaluated based on their skills, experience, and potential. We have implemented blind resume screening and structured interview processes to mitigate unconscious bias and offer flexible work arrangements and support for caregivers to make our workplace more accessible and inclusive.

We have established employee resource groups (ERGs) that provide support, networking opportunities, and a platform for advocacy for underrepresented groups within our organization. These ERGs also play a crucial role in shaping our diversity, equity, and inclusion (DEI) policies and initiatives.

Our commitment to diversity extends to the design of our platform. By offering a multilingual interface and voice-to-text functionality, we ensure that our services are accessible to users with diverse linguistic backgrounds and literacy levels.

As we continue to grow and expand our impact, we remain dedicated to promoting diversity, equity, and inclusion in all aspects of our work, leveraging the diverse strengths, experiences, and perspectives of our team and the communities we serve to create a more resilient, innovative, and impactful organization.

 CheckUps COVA is a micropayment and health benefits management platform that provides value to our target population by addressing two critical needs: access to formal financing when faced with a medical bill and a financial buffer in case of illness. Our key customers and beneficiaries are women aged 30 and above, likely parents with small businesses, who are uninsured and  working multiple jobs. These women are the primary decision-makers when it comes to their family's healthcare needs, and they often struggle to find the resources to pay for medical expenses without resorting to informal borrowing or other risky financial practices.

We provide our customers with a unique value proposition: by making small, manageable micropayments into their CheckUps COVA account, they can unlock health benefits worth four times their investment. These benefits include access to consultations, lab tests, diagnostics, and medication, all delivered through our innovative WhatsApp-based platform and nurse dispatch service.

Our key partners, including IBM, WhatsApp, EcoCarrier, and the Philips Foundation, play a crucial role in enabling us to deliver our services efficiently and securely. IBM's Hyper Protect technology ensures the safety and privacy of our customers' data, while WhatsApp provides a familiar and accessible interface for our users. EcoCarrier's SMS gateway allows us to reach customers in low-connectivity areas, and the Philips Foundation's support helps us to expand our impact and reach.

To generate revenue, we focus on two key activities: enrolling members and encouraging them to make regular micropayments. Our customer acquisition cost (CAC) is $25, and the lifetime value (LTV) of a customer is $2000. By leveraging our technology and partnerships, we can deliver our services at a low cost, resulting in gross margins of 38%.

For our customers, the value of CheckUps COVA extends far beyond the financial benefits. By providing access to quality healthcare services and reducing the need for informal borrowing, we help to alleviate the stress and anxiety associated with medical expenses. Our platform empowers women to take control of their family's health, giving them peace of mind and allowing them to focus on their businesses and other responsibilities.

Moreover, CheckUps COVA's prepaid model and transparent pricing ensure that our customers never face unexpected costs or hidden fees. They can budget for their healthcare expenses in advance, knowing that they have access to a comprehensive range of services when they need them.

The impact of our business model extends beyond individual households. By providing a formal financing option for healthcare, we help to reduce the burden on public health systems and improve overall health outcomes in the communities we serve. Our nurse dispatch service also creates employment opportunities for healthcare professionals, particularly women and youth.

As we continue to scale our operations, we remain committed to refining our business model to better serve our customers and maximize our impact. By leveraging data-driven insights and continuously improving our technology and partnerships, we aim to create a sustainable, scalable solution that transforms healthcare access and financing for millions of underserved families across Africa.

Based on our financial projections for Kenya and South Sudan, CheckUps COVA has a promising plan for achieving financial sustainability through its multi-tiered go-to-market strategy and revenue-driven business model.

Key elements of CheckUps COVA's financial sustainability plan include:

1. Diversified revenue streams: CheckUps COVA targets customers through direct-to-consumer (D2C), business-to-business (B2B), and business-to-business-to-consumer (B2B2C) channels, focusing on market traders, corporations, and financial institutions, respectively. This diversification helps to mitigate risk and ensures a steady flow of revenue.

2. Customer-funded model: Customers pay an initial amount starting from $15 and progressively top up to an average of $250, which unlocks approximately $1,000 in benefits for the family. This model ensures that revenue is generated directly from the customers who benefit from the service, rather than relying on grants or donations.

3. Proven revenue generation: To date, CheckUps COVA has generated over $10 million in revenue, demonstrating the effectiveness of its business model and the demand for its services in the market.

4. Strategic funding partnerships: CheckUps COVA has secured funding from various sources, including a $1.27 million grant from the Philips Foundation, a $500,000 convertible note from AAIC, and a $100,000 convertible note from Lilas Blanc. These partnerships not only provide financial support but also validate the potential of CheckUps COVA's solution.

Evidence of the success of CheckUps COVA's financial sustainability plan can be seen in the projected income statements for Kenya and South Sudan:

1. Consistent revenue growth: In both Kenya and South Sudan, CheckUps COVA projects significant year-over-year revenue growth across all its service lines, including urgent care and nurse dispatch, COVA Classic Care, COVA Smart and Deluxe care, and pre-employment checks.

2. Improving gross margins: The gross profit margins in Kenya are projected to improve from 38% in Year 1 to 42% in Year 2, indicating increased efficiency in service delivery and cost management.

3. Positive EBITDA: CheckUps COVA projects positive EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) in both Kenya and South Sudan starting from Year 2, demonstrating its ability to generate cash flow from operations.

4. Increasing net income: As revenue grows and costs are managed effectively, CheckUps COVA expects to achieve profitability in both markets, with net income projected to reach over $1.1 million in Kenya and $272,000 in South Sudan by 2027.

These financial projections, along with the company's proven track record of revenue generation and strategic funding partnerships, provide strong evidence that CheckUps COVA's financial sustainability plan is viable and has been successful thus far. As the company continues to expand its customer base and refine its operations, it is well-positioned to achieve long-term financial sustainability and scale its impact in the healthcare sector.