Local software startup Doctible Inc. has closed a $2 million seed round and launched a more robust software-as-a-service product for health care providers.
The new funds came from Bootstrap Incubation LLC, a Solana Beach venture capital firm focused on information technology, along with Tech Coast Angels and former employees from Apple, Facebook, and Google.
Ajit Viswanathan, CEO of Doctible, said the cash was needed to expand the company’s sales and product team.
The company, launched in 2013, started out as an online directory that lists the cash prices of medical services charged by medical, dental, vision and specialist providers. The idea was to help patients be aware of discounted cash prices rather than paying heftier rates through insurance. The CEO said his “a-ha moment” came when he had to have an MRI, found himself looking at a $1,300 bill, and learned he could have spent $500 by opting to pay cash.
Doctible is running a pilot of the program in San Diego, but Viswanathan said he became aware that this model would take time to germinate. In the meantime he wanted to find a way to get revenue flowing in.
“As we were selling to the San Diego market, we kept hearing about the problems doctors were having in their practice,” Viswanathan said. The main pain areas were scheduling and patient engagement.
Doctible’s new SaaS product helps doctors with online scheduling, referral management, and helps doctors gauge patient sentiment and feedback.
The scheduling feature is particularly interesting, as it can cut down on patient phone calls and gaps in patient visits. When patients unexpectedly cancel appointments, Doctible’s software can automatically text and schedule other patients to close appointment gaps throughout the day.
“We realized we could build technology that not just caters to patients, but helps doctors run their operations on the back end,” Viswanathan said.
The company charges between $99 and $199 per month for its service, Viswanathan said.
Since launching out of beta mode earlier this year, Doctible has already landed several hundred clients – mostly medical practices across 34 states – and two large health systems.