PatientPop, a digital health startup providing an all-in-one office management platform to help physician practices understand how they are reaching patients, has raised $10 million from Toba Capital. The firm has a focus on business software and technology-enabled services.
In an interview, Co-founders and Co-CEOs Luke Kervin and Travis Schneider said they would use the funding to ramp up their customer base. They also plan to grow employee ranks from 70 to 200 by the end of next year across product and engineering, marketing, sales and “customer success.” Schneider said it has attracted talent from digital health companies such as ZocDoc and Kareo.
Previously, PatientPop raised $3.3 million in a Seed round led by athenahealth in May this year. The company joined athenahealth’s More Disruption Please accelerator earlier this year.
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Its Software as a Service product is integrated into electronic medical records — athenahealth is also a partner — but it is also working with other EMR providers, Schneider said.
Kervin said that the idea behind the company came from interviewing independent physician practices to find out the kinds of software they used to grow their businesses, and monitor growth. Kervin and Schneider discovered that most practices relied on piecemeal solutions that consumed a lot of time and money and were not especially efficient.
“They weren’t performing well because these individual solutions were not designed to work together,” Kervin said. He said physicians would pay for three to four different vendors to provide email marketing services, scheduling tools and physician rating programs but would not receive the benefit of being able to generate insights on how well they translated into attracting patients.
Its platform includes tools for patient acquisition, retention, reputation, and analytics. For example, it can help practices understand which patients found the practice through its website, the conversion rate for website visitors to patients, the percentage of patients finding the practice through mobile devices and a deep dive on revenues.
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The fundraise comes as consolidation reduces the number of independent physician practices. One of the goals of PatientPop is to help physician practices remain independent by operating more efficiently.
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