ZendyHealth
ZendyHealth is an American company and website that connects patients to health care providers. The company is not a direct supplier of these services; instead users set the bid price on procedures and the company matches a provider to the user based on the data provided from the consumer.[1]
History
[edit]ZendyHealth was founded by surgeon Dr. Vish Banthia, MD and Dr. Alexander Antonov, PhD.[2] Dr. Vish Banthia tested an offline variation of the bidding platform with his own practice in 2013.[3][4]
The company was founded in 2013 with a beta version called “ZendyBeauty” for cosmetic procedures, and later re-branded in 2015 to ZendyHealth to include dental and medical procedures.[3]
ZendyHealth was accepted into 500 Startups, a startup accelerator, in August 2015,[5] and graduated from the program in October 2015.[2]
ZendyHealth has been accepted into the following programs: Stanford Health’s StartX, and Techstars Healthcare Accelerator in Partnership with Cedars-Sinai.[3][4]
As of September 2015, ZendyHealth had "about 400" participating providers in greater Los Angeles,[6] and over 10,000 clients as of October 2015.[2] All service providers are screened by medical professionals at ZendyHealth.[7]
Business Model
[edit]The ZendyHealth website is a bidding platform that allows patients to pick a procedure, see the average market cost, and place a bid to make an offer on what they are willing to pay. The bid is submitted, and the algorithm matches users with providers based on service and location.[8] ZendyHealth has been called the “Priceline™ of healthcare” because its algorithm finds patients discounted rates on procedures similar to Priceline’s discounted flights and hotel rooms.[6][9]
A Medical Advisory Board screens all potential providers, requiring that they have an average four-star rating on several healthcare rating sites, use FDA-approved products, and have performed a certain number of procedures before adding them to its provider network.[7] As of September 2015, out of California's 97 thousand health care providers,[10] 400 were participating on Zendy's platform.[6]
In September 2015, ZendyHealth expanded to include dental in the Indianapolis area.[11] ZendyHealth’s service provider network is nationwide with a large presence in California.[4]
References
[edit]- ^ Smith, Kevin (13 September 2015). "ZendyHealth allows patients to bid on medical procedures". Los Angeles Daily News. Retrieved 29 September 2015.
- ^ a b c Townsend, Tess (31 October 2015). "4 Startups to Watch From 500 Startups' Demo Day". Inc. Retrieved 12 November 2015.
- ^ a b c Marvin, Rob. "ZendyHealth in the PCMag Start-Up Spotlight". PC Mag. Ziff Davis. Retrieved 15 August 2016.
- ^ a b c Smith, Kevin (12 September 2015). "ZendyHealth allows patients to bid on medical procedures". San Gabriel Valley Tribune. Digital First Media. Retrieved 15 August 2016.
- ^ Lynley, Matthew (31 July 2015). "Here's The Latest Batch Of 500 Startups Companies". TechCrunch. Retrieved 29 September 2015.
- ^ a b c "Can ZendyHealth be the Priceline of healthcare?". Los Angeles Times. ISSN 0458-3035. Retrieved 29 September 2015.
- ^ a b Plevin, Rebecca (5 August 2015). "Bargain hunt for health care procedures, but use caution". 89.3 KPCC. Southern California Public Radio. Retrieved 15 August 2016.
- ^ Jackson, Cheryl. "Beauty services are latest to tap on-demand model". Chicago Tribune. Tribune Media. Retrieved 15 August 2016.
- ^ "Priceline of Plastic Surgery: Health Smart". KTLA5. Tribune Broadcasting. Retrieved 15 August 2016.
- ^ Parker, Lu (2 June 2015). "Priceline of Plastic Surgery: Health Smart". KTLA. Retrieved 29 September 2015.
- ^ Knox, Debby (11 September 2015). "A website is about to shake up the healthcare industry". WTTV (CBS). Retrieved 12 November 2015.