ZocDoc has tweaked its business model. It’s moving beyond the direct-to-consumer market to get a slice of the $600 billion employer wellness market as well, according to a company statement. Employers have been increasingly keen to work with health IT companies to better manage their healthcare costs.
Until now its revenue has come from small and medium-sized physician practices and health systems. By offering a service where 40 percent of physician appointments are booked outside of normal work hours and 35 percent happen after hours or on weekends, ZocDoc sees its service for employer plans as a way to reduce workflow interruptions.
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Its ZocDoc for Business channel sends employees wellness reminders tailored to their medical history and age. It claims the reminders can initiate immediate action. It is designed to not only improve patient engagement, but also make it easier for employers to assess the effectiveness of the program. Because most of the employees’ appointments booked through ZocDoc for Business are with in-network healthcare providers, it can help employers control costs.
Among ZocDoc’s clients are Jefferies, KIPP NYC, NASDAQ OMX, Foursquare, Gilt, IAC and Quirky.
Several companies have been working with employers to manage healthcare costs, whether to improve price transparency like Castlight Health or help employees do more to manage their health, like Keas.
There are a few factors driving the shift by startups and growth-stage companies to pursue the world of employer wellness plans. First of all, it diversifies their revenue stream so these companies needn’t depend on fickle consumers. It also reflects the rising trend of chronic conditions affecting younger people and the desire by companies to limit their cost burden. Also, the workforce is aging, which means employers have to face age-related healthcare concerns of their staff.
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Earlier this year, ZocDoc marked a milestone with 5 million users and showed an interest in expanding its business beyond the U.S. As of March, its scheduling and physician-finder service was available in 40 percent of the country. It has set a goal of establishing a presence in every state by the end of the year.
