MedConcepts, a patient services company, and revenue cycle startup MedPilot have completed an integration partnership to provide superior patient solutions to healthcare providers, RCM companies, and Practice Management Systems. The integration partnership will help expand MedConcepts’ robust service offerings, while MedPilot is able to gain nationwide traction.
The partnership began when MedConcepts and MedPilot took on a joint client with CarePoint Health. MedConcepts’ patient services use proprietary logic that leverages decades of insight and analysis on human behavior, and key psychological indicators. In order to further expand their existing service they pursued MedPilot, who built a patient engagement and workflow platform that can be integrated seamlessly into internal revenue cycle teams, revenue cycle management companies and practice management systems to enhance their patient solutions.
MedPilot’s software uses data science and behavioral targeting to recommend patient engagement methods, personalize communications and resolve outstanding balances. MedPilot also aggregates data to make recommendations to increase the productivity of in – house call centers.
Joint Client Leads to Strategic Investment in MedPilot
Following on the success of their joint client with CarePoint Health, MedConcepts’ parent company, Fuchs Ventures, decided to make a strategic investment in MedPilot, in order to further strengthen the partnership. All of MedPilot’s previous investors, including Hudson River Capital Partners, also participated in this new round. This brought their total funding up to over $1.25 million dollars to date. Todd Fuchs, Managing Partner of Fuchs Ventures, has also joined MedPilot as an Advisor, in order to bring his experience in building and scaling technology products to the team.
Jacob Myers, CEO of MedPilot, and Fuchs attribute some of their success to the rise in consumer-driven healthcare in the U.S. This growing force provides powerful incentives to healthcare providers to use more accessible and transparent methods to work with patients. Not only have MedConcepts and MedPilot enabled providers to get paid more and faster, but they have also boosted patient satisfaction ratings for all of their clients, by tackling a major stress point in the patient experience.
“Through this relationship, MedConcepts and MedPilot are positioned to offer the best patient services solutions in the market. We have something for everyone, whether a large health system looking to outsource, an urgent care facility or ASC doing billing internally, or a practice management system that wants to enhance its patient solutions,” said Jacob Myers, CEO of MedPilot.