Supporting material · the data room

Supporting material

Everything behind the deck and the proforma, organized so you can read as deep as you want. Each page is self-contained and every number is cited.

Short on time? Read these three

1 · The one-pager — the whole thing in two minutes. 2 · Why now — why this window is open. 3 · The proforma snapshot — the $4M-seed return. Everything below is the detail behind those.

1Start here

The summary and the timing — read first.

The seed deck (PDF)

The full investor pitch — problem, the three things REV does best, market, moat, the model, and the $4M-seed ask. The whole story in one download.

Download the deck

Executive one-pager

The whole opportunity on one page — problem, product, pricing, market, and the $4M-seed return.

Open one-pager

Why now — the regulatory window

Five federal mandates (2026–27) force every EMR onto FHIR, national exchange, and payer prior-auth APIs. Incumbents retrofit; REV is native. TL;DR + primary government sources.

Open why now

Market size — the PCP wedge

~280K US primary-care physicians, ~136K group practices. Our 866 providers is ~0.3% of PCPs — runway, not a share-grab. Every figure cited.

Open market size

EMR market share — fragmented & winnable

The ambulatory EHR market by vendor: top 3 ~40%, a long tail of 30+ smaller vendors, and est. PCPs on each. No one owns the small independent practice — REV's 866 providers is ~0.3% of PCPs.

Open market share

EMR satisfaction — why they'll switch

Only ~1 in 4 doctors is very satisfied; EHRs score an "F" for usability (SUS 45.9) and cost ~2 hrs of desk work per hour with patients. The documentation burden — the #1 burnout driver — is exactly what REV removes.

Open EMR satisfaction

2The product

See it work — and why it beats the incumbent in the room.

Live encounter walk-through

The product beat the incumbent, screen by screen — scheduling, ambient scribe, coding in the room, denials prevented before the visit.

Open walk-through

Paperless & cardless by design

Digital eligibility at scheduling, cardless copay before the visit — removes the front-desk steps that cause most avoidable denials.

Open paperless & cardless

Live product demo

Walk the working prototype — dashboard, scheduling day-view, ambient scribe, live status board.

Open demo ↗

Product requirements (PRD)

The full 10-module spec — executive, developer, and data-model views, plus the regulatory matrix.

Open PRD ↗

3Why the economics work

The margin and the low cost-to-serve, defended.

Coding analysis

PCP visits are a narrow 99213/99214 mix — routine and automatable. Why ~98.5% capture and ~78% gross margin hold for primary care.

Open coding analysis

Practice efficiency — a third smaller team

REV automates the admin/back-office layer, so a practice runs ~36% fewer total seats per physician — providers and clinical hands held flat. Per-role FTE before/after, baselined to MGMA/AAFP.

Open practice efficiency

Cost per claim & shift-left

Verify insurance at scheduling, capture copay up front — the claim is clean before the patient is seen. RCM cost ~1.3% of collections.

Open cost per claim

EMR / RCM comparison

How REV's all-in $595 + 4.9% stacks up against the top EMR/RCM options once AI add-ons and hidden fees are counted.

Open comparison

EMR / RCM deep dive — TCO & net revenue

Total cost of ownership and net revenue to the practice vs the incumbents — the full economic picture for the buyer.

Open TCO deep dive

4The model & the return

The financial case — from the monthly model to the exit.

The proforma — snapshot & detail

The full financial model: the one-screen snapshot and the month-by-month detail.

Open snapshot Open detailed

Margin & downside

Why ~78% gross margin / ~65% run-rate EBITDA are earned — with a downside matrix showing the return holds even on a big miss.

Open margin & downside

The team & the scale

Why a software company needs its engineers, why you cannot stop at ~50 physicians ($2.9M ARR does not return the seed; 866 providers returns 25.4×), and the build-then-sell arc. The ~108-person team at full scale is ~$471K ARR/employee — lean, not outsized.

Open team & scale

Growth engine

~85% captive network acquisition ($0 CAC to REV) + a lean external sales motion — fast ramp, tiny CAC.

Open growth engine

Exit multiple

10× base, 6× floor, anchored to real EMR/RCM take-privates (athena re-rated ~4.4× → ~11–12×).

Open exit multiple

Fixed & non-scaling costs

Certifications, licensing, interfaces/TEFCA, insurance — modeled flat / per-provider, never as a fake %-of-revenue.

Open cost detail

●Internal — founders only

Alternative plans — A / B / C

The slower, more conservative scenario family behind the $4M headline: A captive-led / earliest exit, B sales-led / later exit / biggest return (proves no captive dependence), C the $3M lean raise. Grow-slow-then-gas, cash stays positive in all three. Workbooks attached.

Open A/B/C scenarios

Founder pitch cheat sheet

The destination-first talk-track: what to say at each step, the decision behind it, and the page that proves it.

Open cheat sheet

Naming — REV & alternatives

Brand working page: what REV can stand for, the keep-REV-through-stealth caveat, and domain-available alternatives.

Open naming page

Founder URL-params guide

How the founder/admin URL switches work (admin gate, embed mode, real competitor names).

Open URL guide