Lessons from Hims & Hers: On-Demand Sexual Health Care

Hims & Hers have shaken up the traditional healthcare model by focusing on a previously underserved market: sexual health.

Their on-demand treatment approach has helped break down stigma, improve accessibility, and offer convenient care.

Hims & Hers have grown about 80% and are close to breaking even while still expanding.

Direct-to-consumer (DTC) brands are growing rapidly.

The company, which went public four years ago, sells hair loss and sexual health products. 

They saw a 56% increase in online subscribers, reaching 1.4 million in the third quarter.

Financial Health and Market Presence

As of Q1 2024, Hims & Hers reported significant financial achievements:

• Net income of $11.1 million, a stark contrast to the net loss of $(10.1) million in the same period the previous year.

• Adjusted EBITDA of $32.3 million, showcasing improved profitability compared to $6.1 million in Q1 2023.

• Strong cash flow generation with net cash provided by operating activities reaching $25.8 million.

Hims & Hers has also secured $0.6 billion in funding and boasts a market capitalization of $2.0 billion. 

This financial backing has been instrumental in driving their expansion efforts, but it's not the sole reason behind their success. 

Hims & Hers operates in various large chronic need states, including erectile dysfunction (ED), hair loss, acne, and sexual dysfunction in men & women, which collectively offer a significant market opportunity for on-demand sexual health care.

Overcoming Stigma Through On-Demand Sexual Health Care

Sexual health issues like erectile dysfunction (ED) and female sexual dysfunction have long been stigmatized. 

ED affects about 40% of men aged 40-70, while millions of women worldwide suffer from conditions like low libido and painful sex. 

This stigma leads to underdiagnosis and delayed treatment, with many individuals hesitant to seek help.

Hims & Hers have reshaped the field with their on-demand sexual healthcare services.

Their platform provides accessible and discreet treatment options, making it easier for people to get the care they need without embarrassment.

How Hims & Hers Work

Hims & Hers has transformed sexual healthcare by integrating telemedicine with eCommerce through its distinct brands—Hims for men and Hers for women.

Hims: Telehealth for Men

Hims: Telehealth for Women

Hims & Hers provides a holistic approach to sexual health by combining:

• Virtual Consultations: Patients can connect with licensed healthcare providers through secure video or phone consultations, eliminating the need for in-person visits.
• Personalized Treatment Plans: Based on medical history and symptoms, patients receive tailored treatment recommendations, including medication and lifestyle advice.
• Direct-to-Consumer Products: A range of over-the-counter products and prescription medications is available for purchase directly through the platform.
• Discreet Shipping: Products are shipped in unmarked packaging to protect patient privacy.
• Ongoing Support: Patients have access to follow-up care and can easily communicate with healthcare providers through the platform.

Tech Behind the Success of Hims & Hers

Hims & Hers have redefined sexual health care by leveraging technology to offer on-demand services. Here’s how they’ve achieved this success:

1. Integrated Telemedicine and eCommerce

Hims & Hers seamlessly combine telemedicine with eCommerce. 

Users can consult healthcare professionals and purchase medications or wellness products all from one platform. 

This integration enhances convenience and accessibility for patients.

Hims & Hers earned unicorn status because they go beyond just telemedicine.

2. Personalized Care

Their platform delivers customized health solutions. 

Through virtual consultations, users receive tailored treatment plans that address their specific needs, improving the relevance and effectiveness of the care provided.

3. User-Friendly Experience

Designed with simplicity and excellent UX/UI in mind, the app and website enable users to easily complete medical questionnaires, schedule consultations, and manage prescriptions—all through an intuitive and user-friendly interface.

4. Discreet and Secure

Privacy is a top priority. 

Adhering to PIPEDA and HIPAA regulations, they use discreet packaging and secure communication channels to safeguard patient confidentiality. 

This commitment to privacy helps reduce stigma and encourages individuals to seek care for sensitive issues with confidence.

Telemedicine with eCommerce: A Secret to Hims & Hers' Success That You Can Incorporate

Hims & Hers have set a high standard by integrating telemedicine with eCommerce. Here’s how this approach works and why it’s effective:

1. Patient Consultation: A patient accesses your app for online consultation.

2. ePrescription: The doctor assesses the patient and issues an ePrescription.

3. Order Medications:

• Select the prescribed medication.
• Upload the prescription as an image or PDF.
• Order the medicines for home delivery.

This seamless process not only saves patients time but also enhances convenience. 

For your telehealth app, incorporating these features can boost customer loyalty and create an additional revenue stream.

Want to Build a Successful Business Like Hims & Hers?

On-demand sexual health care is booming, and there's a lot of potential in this market. 

But sticking to traditional, taboo-laden methods won’t cut it. 

Embrace technology like telemedicine to offer accessible care and enhance it with eCommerce for added convenience.

Here’s how you can achieve this:

1. Telemedicine Integration: Start by integrating telemedicine into your platform. This allows patients to consult with healthcare professionals remotely.

2. Add eCommerce: Enhance the experience by integrating eCommerce, so patients can easily order medications and wellness products directly from your platform.

You have two main options:

• SaaS Platforms: These are subscription-based telemedicine solutions. They offer a one-size-fits-all approach but lack customization. They may also incur high costs over time, especially if integrating with third-party eCommerce platforms like Shopify.

• Custom App Development: Hire an app agency to create a tailored telemedicine solution. This approach allows for full customization, including eCommerce features, and typically offers a better return on investment (ROI) in the long run.

By choosing custom development, you get a solution designed specifically for your needs, enhancing both patient experience and your business’s profitability.

Go Beyond Tech: Partner with Experts Who Understand Your Business

Hims & Hers didn’t just achieve success through cutting-edge technology. 

Their triumph is also due to a team that understands both the tech and the business side of things. Their combined expertise created a product that stands out in the market.

That’s why, when you’re looking for a health-tech partner, don’t just focus on their tech skills. 

You need a partner who understands the full picture—one who can blend technology with a deep understanding of your business needs.

That’s why, at SyS Creations, we offer more than just tech development. 

When clients approach us with a vision, they often have only a rough idea of their requirements. Our job is to turn that vision into reality.

Here’s how we do it:

1. Understanding the Needs: We start with a thorough understanding of your business needs. Our team of business analysts, compliance specialists, and AI/ML experts work together to refine your idea and identify market opportunities.

2. Comprehensive Solutions: We don’t just build software; we create solutions tailored to your specific needs. From market research to identifying gaps and ensuring compliance, we handle every aspect to ensure your product stands out.

3. Seamless Integration: Whether you need a custom telemedicine app or a white-label no-code patient portal, we provide solutions that are both user-friendly and effective. Our custom solutions are designed to offer a high return on investment and cater to your unique requirements.

4. Ongoing Support: Our commitment doesn’t end with delivery. We offer ongoing tech & business support to ensure your tech solution remains relevant and effective as your business evolves.

Check out some of the telemedicine solutions we’ve developed and see how our white-label no-code patient portal can be customized to fit your needs—even without coding knowledge!

Contact us at hello@syscreations.ca or call +1 905 635 7574 to explore how we can help enhance your business with our comprehensive tech and strategic solutions.