The aesthetics and wellness industry has traditionally relied on in-person consultations and ad-hoc marketing campaigns to drive business. However, the pandemic changed the game, and now there’s an expectation that these businesses have a strong presence on major digital channels.
Not every practice has the expertise to build out such presences, which is where companies like RepeatMD come in. Founded in 2021, RepeatMD provides turnkey software solutions to operators in the aesthetics and wellness sector.
RepeatMD: A Game-Changer for Aesthetics and Wellness Businesses
RepeatMD’s buyers are small- and medium-sized businesses who want to generate a new revenue stream for their practice. The platform allows practitioners to sell their treatments around the clock and enhances the patient buying experience through a mobile app.
"We aim to be the Shopify of the medical industry, helping medical practices sell more of their elective-based procedures," said Phil Sitter, RepeatMD’s founder and CEO. "We’re investing in algorithmic solutions to streamline the practice onboarding process and enhance the patient buying experience, making it easier for patients to discover treatments that fit their goals."
How RepeatMD Works
RepeatMD builds apps for aesthetics and wellness businesses that let customers sign up and pay for monthly memberships to practices and recurring treatments. Through an integration with Affirm, customers can pay for services in monthly installments if they so choose.
Like many loyalty programs, RepeatMD’s apps also "nudge" customers by sending them notifications with discount offers. Sitter describes these as "Starbucks Rewards-style" experiences.
RepeatMD’s Impact
The company claims to now service over 3,500 practices and 700,000 users, and RepeatMD’s software-as-a-service revenue increased 130% over the past year, according to Sitter.
"That’s piqued investors’ interest," said Sitter. "We’re seeing massive acceleration of our product during the last 12-months as practices are looking for new ways to generate revenue. We bring in new revenue for practices and the rewards program solves patient retention."
RepeatMD’s Funding Round
Today, RepeatMD announced that it has raised $40 million in a funding round led by Centana Growth Partners and Full In Partners, with participation from Proof and Mercury Fund, along with a $10 million loan from Silicon Valley Bank.
"The new capital will be used to grow the startup’s network of partners, build out RepeatMD’s platform, and expand the company’s team of around 130 employees to more than 150 by the end of the year," said Sitter.
The Future of Aesthetics and Wellness
RepeatMD’s success is a testament to the growing importance of digital presence in the aesthetics and wellness industry. As practices look for new ways to generate revenue, RepeatMD’s platform is poised to become an essential tool for businesses looking to stay ahead of the curve.
With its focus on patient retention and new revenue streams, RepeatMD is set to revolutionize the way aesthetics and wellness businesses operate. As Sitter said, "We’re not just building a platform – we’re changing the game."
About RepeatMD
RepeatMD is a turnkey software solutions provider for operators in the aesthetics and wellness sector. Founded in 2021, the company has quickly gained traction with its innovative approach to patient retention and revenue generation.
With its mobile app and rewards program, RepeatMD helps practices sell more of their elective-based procedures and improve patient satisfaction. The company’s commitment to algorithmic solutions and patient experience makes it an industry leader in the aesthetics and wellness space.
About Phil Sitter
Phil Sitter is the founder and CEO of RepeatMD. With a background in software development and a passion for aesthetics and wellness, Sitter brings a unique perspective to the industry. Under his leadership, RepeatMD has become a leading provider of turnkey software solutions for operators in the aesthetics and wellness sector.
Conclusion
RepeatMD’s success is a testament to the growing importance of digital presence in the aesthetics and wellness industry. With its innovative approach to patient retention and revenue generation, RepeatMD is poised to revolutionize the way practices operate.
As the industry continues to evolve, RepeatMD will remain at the forefront, driving innovation and growth with its commitment to algorithmic solutions and patient experience.
