How To Create a Health Tech Pitch Deck: Full Guide

McKinsey estimate the global digital healthcare industry at $350 billion. Recently the pandemic has changed the way consumers think about healthcare, creating new opportunities for growth. If you are launching your health tech startup, you will need a rock-solid pitch deck to impress investors, and stand out from the crowd.

The state of health tech in 2021

Before we dive into the slides you’d need in your health tech pitch deck, let’s first make a short introduction about the state of health tech today.

How big is health tech today? What are the 5 different sub-sectors, their relative size and growth? What has been the impact on the Covid-19 pandemic on health tech startups?

How big is the global digital healthcare market?

McKinsey estimated in 2019 the global digital healthcare industry at $350 billion, and increasing at an impressive 8% per annum over 2019-2024 (source).

This was before the Covid-19 pandemic. Whilst it’s still early to anticipate the actual impact on the healthcare industry as a whole, it is safe to assume that Covid-19 has triggered an acceleration of health tech growth globally.

One clear example of the impact of Covid-19 on health tech is the volume of venture capital and M&A deals. Venture capital deals in health tech in the US alone were at an all-time high in 2020, with $14 billion invested across 440 deals.

What are the different industries at play?

McKinsey distinguishes 5 different sub-sectors within health tech, they are:

1. Wellness and disease prevention

• Improve wellness and prevent disease (sleep-tracking, meditation and fitness, and disease-prevention tools, etc.)

2. Care Delivery

• Provide more effective therapies (digital therapies, disease management, clinical-decision support, etc.)
• Provide remote patient support (telehealth, remote monitoring, digital information and communities, etc.)
• Supply therapies to patients (digital pharmacies, supply-chain solutions for medical supplies, etc.)

3. Research and development

• Enhance drug R&D process (artificial-intelligence and machine learning drug discovery, siteless trials, patient engagement, etc.)

4. Screening and diagnosis

• Intercept diseases through screening (genomics and omics, etc.)
• Identify the right patient (digital at-home diagnostics, imaging diagnostics, etc.)

5. Finance and operations

• Optimise the financial model (value-based care arrangements, population health management, benefits administration, etc.)
• Increase operational efficiency (back-office functions, nonclinical workflow support, etc.)

How did Covid change health tech?

The pandemic acted as a catalyst to all the existing sub-sectors discussed above. Indeed, Covid-19 triggered new consumer behaviours that only were in their infancy, or simply didn’t exist before.

Arguably the largest beneficiary of Covid-19 has been telehealth: the industry grew 38x times since the start of the pandemic, as patients have been forced to use remote consultations systems.

More importantly, Covid-19 changed the way consumers and physicians perceive certain technologies: 58% of US physicians view more favourably telehealth now than they did before Covid-19.

The second reason behind such growth has been the acceleration of regulatory changes, which usually take years in healthcare before they can be enacted. From remote-diagnostics to R&D itself, many regulatory changes have been implemented over the past 18 months, creating new opportunities for health tech startups globally.

The 14 slides you need for your health tech pitch deck

Slide 1: Title

The title slide is the front page of your presentation.

Make sure your product or value proposition is clear from the outset: use an image of your product or, better, of your end-user application or instance (a consumer using your product).

Slide 2: The Problem

The problem slide is the “why” of your business. List here the 2/3 friction points you aim to fix with your product.

For example, telehealth startups aim to make healthcare more accessible and fast (in the UK, patients wait in average 3 weeks before they can see a doctor). Indeed, current systems are slow and all require physical appointments even for the simplest consultations.

Slide 3: The Solution

Your startup builds and commercialises a product and/or a service which solves the problem laid out on slide 2. The solution slide should not explain in detail your product nor how it works. Instead, focus on the benefits for your customers.

Ideally, you should compare the pain points explained on slide 2 (the problem) to the benefits your solution brings to your customers. That way, it is crystal clear to investors your solution really adds value to potential customers.

Following our telehealth example above, the benefits could be:

• Accessibility and convenience: Get a first appointment from the comfort of your home
• Fast: save time and get an appointment within 24 hours. No need to wait days, or weeks to see a doctor anymore

Slide 4: Market Opportunity

In the market slide, you need to clearly identify 2 very important metrics:

1. Market size: how big is your market?
2. Market growth: how fast does your market grow?

If you are operating in a niche market, chances are that you will face some challenges: the information might not be publicly available. In any case, you should be able to make a high-level estimation of your market. Read our article on market sizing and how to estimate TAM, SAM and SOM for your startup.

When looking for these metrics, you have multiple sources of information: public reports, specialised press, etc. Even public companies publish press releases and annual reports including some of their proprietary market estimates so be sure to look there too.

For important data points on the health tech industry, have a look at our introduction at the beginning of this article.

Slide 5: Competition

The competition slide follows the market overview and must answer 2 key questions:

How fragmented is your market?

Are there 3 big players sharing 90% market share or thousands of small players? Here, refer to public market reports and your own understanding of the competitive landscape.

A few questions you could ask yourself, among others:

• Who are your competitors?
• Are they local, regional, national or global?
• Are there any product alternatives to your product?
• What about their IP / technological advantage?

Where do you position yourself vs. competition?

Is your solution a game changer other competitors don’t have (yet)? Do you have competitors with similar products/services?

Ideally, you would create a small table with, for each type of competitors and their main characteristics.

For instance, do they all a global presence? Do they cover all the products you offer? What is their relative price positioning (expensive vs. accessible)?

Slide 6: Revenue model

The revenue slide of your health tech pitch deck is very important. Now that we have clearly identified the problem you are solving and the benefits of your solution, let’s have a closer look at how you generate revenue.

Health tech industries are very diverse, hence the scope of business models are very different from B2C to B2B startups.

Are you offering a subscription or a transaction revenue model? Also, explain clearly what is your pricing strategy: do you take a commission on purchases (e.g. digital consultations with doctors)?

Slide 7: Product

Here we need to explain clearly how your product works, both from a medical and technological point-of-view.

Instead, include in your health tech pitch deck product slide things such as:

• whether you have a white-labelled solution or a proprietary back-end / database
• what’s your intellectual property?
• how many full time front/back-end engineers you have
• how much you invested already in your tech
• Etc.

Slide 9: Go-to-market

The go-to-market slide explains how you acquire your customers. Acquisition can either be online or offline (or both):

• Online acquisition: pay-per-click campaigns (e.g. Google Ads), content & SEO, social media, etc.
• Offline acquisition: print ads, events & fairs, mail, etc.

Arguably, most health tech startups mostly use an online acquisition (especially for B2C health tech businesses).

Online acquisition is sub-divided into 2 main categories itself:

• Inbound acquisition: customers convert from leads, at the top of funnel, who visit your landing page or website. These visitors (also referred to as “traffic”) either come from paid ads or organic sources (SEO, content)
• Outbound acquisition: customers are acquired via a sales team who actively reach out to potential customers. Because leads do not come by themselves but you reach out to them, this is an “outbound” strategy instead. Outbound is, for example, used by many B2B businesses (Enterprise SaaS for instance)

Note: to forecast customer acquisition, have a read at our article here (+ free template)

Slide 9: Traction

Only include the traction slide if you already have some early traction. Traction can be revenues for instance, but not necessarily (e.g. if you have sign-ups, free users, etc.).

As rule of thumb, the more historical performance you have, the more details you should give. For instance, if you start generating revenues 12 months ago and experienced a steady growth until then, include a bar chart of your revenues (or customers, patients, etc.) over the past 12 months.

Instead, if you have limited financial performance and/or numbers have been quite volatile, include today’s numbers instead.

Slide 10: Team

The team slide is one of the most important: investors invest in great teams before anything else.

The slide can either include the co-founding team only, but can also include key professionals and/or advisors as well.

Include key team members if they add real value.

Also, only include advisors if they are relevant to your industry. Do you have angel investors with significant experience who advise you on strategy? For instance, a PhD who acts as advisor to your health tech startup (on regulation and market access matters for instance)?

For the team members’ details, keep it simple: name, position, years of experience and/or previous companies is more than enough.

Note: add a clickable link to the respective Linkedin profiles so investors can refer to a more exhaustive resume for your team members (if relevant)

Slide 11: Roadmap

The roadmap slide tells investors where you are going and how is product going to evolve in the future. You can either keep it high-level (e.g. your long-term strategy) or more detailed (e.g. the pipeline of the near-future product features).

Investors do not just invest in your product as it is today. For example, you might only have developed a MVP with limited features for early-adopters while your product could be tweaked and serve a much larger customer base in the future.

Also, you might be broadening the type of products you offer in the future. Or you might introduce premium services such as a subscription, or premium listing fees. All of these additional features are very important to add in your investment deck.

Slide 12: Financial Plan

Along with your product and the team, the financial plan slide is highly important. Unfortunately, many startups overlook the importance of financial projections in their health tech pitch deck.

Think about your audience: investors (venture capital firms or angel investors) are financially literate individuals. As such, they invest in your business to generate returns. Logically, they care a lot about your financials and more especially, the expected financial performance of your business.

Do not expect investors to make up their own plan for your startup if you haven’t. As CEO, founder or entrepreneur alike, you should have a clear idea of where you are going.

As rule of thumb, the more advanced your startup is, the more granularity you should include here. Pre-seed startups might keep it short (1 slide) yet we recommend seed and Series A+ startups to include 2 slides instead.

Note: when presenting your financials, we recommend for pre-seed startup to show 3 years. Instead, seed and Series A+ startups should include 5 years projections as investors will likely ask for it for their own return analyses purposes.

Slide 13: Funding Ask

All pitch decks have a clear goal: raising capital from investors. The funding ask slide is where you clearly state your ask: how much are you raising?

Read our article on how to determine how much you should raise for you startup. While raising too little creates obvious problems, raising too much isn’t necessarily better.

On top of the amount, a good practice is to include a pie chart of where you will spend that money over a given period (your runway). Will you spend the bulk of it in product development to build your MVP? Or will you use a large portion in sales & marketing to commercialise your product and find product-market fit?

Our financial model templates include a cash burn dashboard where you can easily assess how much you should raise, and where you will spend your money. We also included charts ready to be included in your pitch deck. See how to use our cash burn dashboard here.

Slide 14: Contact

The contact slide is the last slide of your presentation. It has 2 main goals, this is where:

1. You open the floor to questions from your audience when you are pitching
2. You provide contacts (email and telephone) for investors who would only receive the PDF version of your presentation