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StaffKnex SRM
StaffKnex SRMStaff Response Management
Web-based staff management and communication service for Healthcare
Schedule • Manage • Communicate • Analyze
Analytics
Scheduling
CommunicationMark Woodka, [email protected]
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Problem: Labor is 70% of LTC costsProblem: Labor is 70% of LTC costs
Problem: Controlling Labor Costs in Healthcare
• Not managing staff to census ratios leads to overstaffing
• Overtime cannot be managed in “real-time”
• Call-offs exacerbate the overtime problem and reduce quality of care
• Got to the same people over and over
• Staffing agencies are expensive
• Reduce quality of care due to non productive time spent replacing absent staff
The Economics – 136 Bed LTC Costs
Item Monthly Hours Annual Cost
RN Overtime 160 Hours $115,000
Aide Overtime 96 Hours $15,500
Labor over HPPD
Varies $200,000
Calls Offs 56 $23,500
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The StaffKnex Solution - Scheduling
• Integrated staff scheduling and census data• Daily view of labor hours over/under based on
resident census and budget by position• Link directly to the schedule to adjust HPPD• Automatically communicate cancelled shifts
• Real-time overtime management• Project overtime as scheduling changes occur
• Prevent assignment of staff to overtime without supervisor approval
• Utilize text messaging for overtime approval
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The StaffKnex Solution – Call Off Resolution
• Integrate scheduling software and communications technology to eliminate calls
• Reach the right people immediately by combining:
Text messaging
Voice Response System
• Intelligent Response Management & Analytics
• Responses are captured and filtered
• Analytics for improved staff management
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The Economics – 136 Bed LTC ROI
• Reduce Overtime 25%
• Eliminate 3 – 5 shifts per week by managing HPPD
• Reduce labor resolving calls offs 90%
Category Savings
Call Offs $21,000
HPPD $45,000
OT $28,000
Total $94,000
LTC Savings
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Addressable Market Segments
Segment Employees
Medical 6,700,000Food Service 13,100,000Staffing 2,800,000Hospitality 1,800,000Manufacturing 13,100,000
Total 37,400,000
• $5 – StaffKnex Fee per employee per month
• $2.2B – Market size
• $44m – StaffKnex revenue at a 2% share
Market for StaffKnex:
• Any business with a shift-based workforce
• Having a high volume of staffing emergencies
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StaffKnex Business Model
• StaffKnex is a Software as a Service (SaaS) Provider• Nothing for customers to install• Incremental infrastructure costs are minimal
• Pricing is per employee per month• $5 per employee per month average• Gross margins at scale are very high
• StaffKnex deploys quickly• Little to no training or setup required
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StaffKnex Current Status
• Product is complete, strategy is to execute
– Communication service launched in April
– Scheduling service launched in August
• 7 live customers
– 2 beta customers
– 5 paying customers
• Pipeline – 10 qualified opportunities
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Leadership Team
Mark Woodka, CEO• Flashline – Vice President Sales, 2001 – 2008• TMW Systems – SVP Sales, Marketing and Business Development
1993-2001• PSI – President and Founder 1986 - 1993
Gene Groys, Co-Founder and President• American Greetings – Director of Mobile Services 2006-2007• Lava storm – VP Product Management 2005-2006• Oracle (Siebel) - Product vision and leadership 2000-2005• Mobile technology leader, speaker
Matt Wilson, Co-founder and Chief Engineer• American Greetings – mobile technology leader 2005-2007• Published open-source innovator
StaffKnex Five Year Projections
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2008 2009 2010 2011 2012
Revenues
Installation $ 49,500 $ 514,830 $ 1,072,750 $ 1,072,750 $ 750,925
Subscription $ 42,813 $ 1,950,025 $ 5,780,520 $ 14,133,371 $ 29,892,081
Upgrade $ 2,150 $ 167,448 $ 1,511,528 $ 4,534,584 $ 5,668,230
Total Revenue $ 94,463 $ 2,632,303 $ 8,364,798 $ 19,740,705 $ 36,311,236
Expenses
Commissions $ 13,845 $ 526,461 $ 2,509,439 $ 5,922,212 $ 10,893,371
Staff $ 377,366 $ 1,407,255 $ 2,478,000 $ 6,083,490 $ 8,547,541
Office $ 60,695 $ 171,470 $ 217,477 $ 678,900 $ 1,052,295
Operations $ 8,354 $ 78,347 $ 243,488 $ 406,566 $ 614,588
Marketing $ 34,000 $ 350,000 $ 865,000 $ 1,500,000 $ 3,500,000
Total Expenses $ 494,260 $ 2,533,533 $ 6,313,404 $ 14,591,168 $ 24,607,795
Operating Margin $ (399,797) $ 98,770 $ 2,051,394 $ 5,149,538 $ 11,703,441
-423% 4% 25% 26% 32%
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Funding Needs
BSKlive seeking $750,000 - $1,000,000 (Target Close 12/31/08)– Jumpstart $350,000 – approved for investment– NCAF – approved for investment– Side car investments available ($20,000 minimum)– Pre money valuation of $2m– Approved for OH TITC
Use of Funds– Business development, marketing, 1 developer– Investments will be tied to milestones
Growth Projection– Aggressive growth for next 12 months in healthcare– Achieve $90k-100k monthly revenue Q3-Q4 2009– Q4 2009 – Venture round to stimulate growth
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Exit Strategy
• BSKlive is a compelling acquisition in several categories:
– Legacy HR application providers. Value added service and easily integrates to existing HR applications. Compelling “buy” strategy to gain SaaS business model
– Workforce management. Systems providers such as Kronos, ADP, etc. would utilize StaffKnex as a product extension and to drive incremental revenue.
– Communications providers. Businesses currently in communication space which service medical facilities (pagers, etc.) are looking for ways to add incremental revenue and differentiation
• High company valuation due to:
– SaaS business model. Low customer acquisition costs at high margins.
– Market size. Initial launch in healthcare with overall market for the StaffKnex service >$2.2B.
– Uniqueness of the offering. Integrated scheduling, profiling and automated communication provides unique and compelling capability.
Next Steps
• Side car investor meeting Friday 12/19, 8am North Coast Angel Fund
5875 Landerbrook Drive, Suite 300
Mayfield Heights, OH 44124
Phone/Fax (800) 975-5846
www.northcoastangelfund.com
• OH TITC forms due Monday– I have a few with me
• Business plan executive summary available in the back
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Q & A
The The SStafftaffKKnexnex Application Application
Alert & Response Staff Analytics
Communication Scheduling
Contact: Mark Woodka, CEOBSKlive, Inc.216-272-9434 [email protected]
Thank you!