Founders: Oliver Kharraz (CEO), Nick Ganju, Cyrus Massoumi
Launched: 2007
Funding: $230 million
Valuation: $2 billion (PitchBook)
Disrupting: Health care, mobile
Rival: DocASAP
George Kavallines
For anyone who's ever been frustrated by how long the wait is to see a doctor, there's Zocdoc. This health tech company is akin to OpenTable for doctors. It allows patients to find and book doctors appointments via its mobile app or online. The company says the average wait time to see a doctor is 19 days; Zocdoc's goal is for patients to be able to get in within 24 hours.
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Co-founder and CEO Oliver Kharraz says this is possible because most doctors typically have inefficient scheduling practices. Their office staff books appointments well into the future, but there are usually a high percentage of cancellations and reschedules. Doctors pay a flat subscription fee of $3,000 per year to be part of the Zocdoc platform that enables patients to book those available appointments. The service is free for patients and available across the United States via Zocdoc.com or the app for iPhones and Android devices.
Patients on Zocdoc can search by a doctor's name, specialty, location or insurance plan. More than 6 million patients use the service each month. Last June the New York City-based company partnered with Mayor Bill de Blasio's initiative, WorkWellNYC, that helps the city's employees, retirees and dependents find in-network primary- and preventive-care physicians in all five boroughs.
Investors seem to like Zocdoc's approach to access and efficiency. Goldman Sachs, Founders Fund and Salesforce.com's Marc Benioff have invested $230 million in the company over the past 10 years.
