You need a doctor and you need a doctor who takes your insurance. Instead of having to fumble through antiquated lists complied by your provider, ZocDoc seeks to expedite the process of locating care by displaying physicians in your area who are available for immediate and long-term appointments.
Doctors pay a fee to join ZocDoc, which has secured $95 million in funding, spread to more than a dozen United States cities and has hired 200+ employees since 2007.
Massoumi attributes ZocDoc’s success to hitting the nexus of easing friction for both patients and doctors. Patients save time booking appointments and doctors easily fill vacancies, including vacancies in the “hidden supply of health care” formed from last minute cancellations.
He calls it a “win-win” situation.
While ZocDoc found a recipe for success, getting there wasn’t easy. Massoumi tells Dixon his team caught a lucky break in 2008 when it won $100,000 for “the top small business in America” and continues, ”had we not won that money we didn’t have enough money to actually expand to our next market.” He believes the expansion silenced doubters who didn’t think ZocDoc could flourish outside of New York City.
As the interview winds down, Massoumi offers of several pieces of advice. In particular he recommends entrepreneurs pay attention to “one of the old adages of fundraising [which] is never raise money when you need it.” Having previously worked at a company that ran of money, he speaks from first hand experience.
Massoumi shares plenty more insights in this interview, including why he thinks the financial downturn helped ZocDoc. Be sure to view the entire video to see why.
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Cyrus Massoumi is founder and CEO of ZocDoc, which he created in 2007 after rupturing an eardrum. Massoumi struggled for four painful days to find a doctor, and became convinced that a better healthcare system is possible. He has extensive experience in the healthcare-technology nexus, web commerce and management. Prior to ZocDoc, Massoumi served as an Engagement Manager at the global management consulting firm McKinsey & Company, where he focused on healthcare and technology. Massoumi’s four-year tenure at McKinsey &...
Chris Dixon is a Partner at and co-founder of Founder Collective. He is also a contributing writer for TechCrunch. He previously was the CEO and Co-founder of SiteAdvisor, which was acquired by McAfee, and Hunch, which was acquired by eBay. In addition to his work with Founder’s Collective, Chris is a personal investor in early-stage technology companies, including Skype, TrialPay, DocVerse, Invite Media, Gerson Lehrman Group, ScanScout, OMGPOP, BillShrink, Oddcast, Panjiva, Knewton, and a handful of other startups that...
Founded in 2007 with a mission of improving access to healthcare, ZocDoc is the most convenient, free way to find a nearby health practitioner who accepts your insurance and instantly book an appointment online. The service, used by more than 2.5 million patients/month, currently serves 40 percent of the U.S. population across 1,800+ cities. With the service, patients avoid the hassle of waiting on hold, searching for a good doctor or wondering whether a doctor takes a particular insurance. Participating...