When you're looking to switch billing companies, there is a lot to consider. It may seem like any choice is better than your current one, but that doesn't mean you should pick just any company. MedPilot can not only help you increase patient engagement and payments, but they make switching easier.
Here are three ways that MedPilot makes switching easier for you and your company:
MedPilot can quickly transfer patient files and information from your current EHR to our platform. Once we have your data, we work to ensure it is protected, secure, and encrypted. We also use patient demographic data and payment history to personalize communication with each patient to provide a higher engagement.
Leaning a new platform can be confusing or even intimidating for some of your patients. MedPilot's payment platform is easy to use and access for patients. Since MedPilot is all web-based, patients do not need to download an app and access it from a phone or computer. In addition to this, our platform explains patient bills, showing them what they owe you, and telling their charges. We also offer patients further assistance through our support team and digital help center to focus your time on your practice and patient care.
MedPilot can get your practice up and running in less than two weeks. We can integrate with any EHR or PM you may already use, and not only is it a fast process, but we also won't charge you until your account is up and running, automating customers' payment process.
Disrupting your current patient revenue cycle shouldn't feel so daunting. And it doesn't have to be. To learn more about MedPilot's process and the benefits that come with our service, visit our site and request a demo.
VGV Invests Nearly $400K in 7 Months for Ohio Technology Startups
Youngstown, Ohio – Local VC Fund, Valley Growth Ventures has invested nearly $400K of funding for its portfolio companies within the past several months as part of attracting total capital exceeding $5.3 million.
"We at VGV are proud of the portfolio we have built to date and are excited that each company is positioned to navigate the current environment and drive toward a successful future. The support we have received throughout the Mahoning Valley has been tremendous, and we look forward to rewarding our investors with strong financial returns," said Ernie Knight, Managing Director.
Valley Growth Ventures (VGV) is a $6 million "micro" venture capital investment fund created to support high-growth, early-stage companies across the state of Ohio, with a preference for those in the Mahoning Valley. Founded as a strategic collaboration between five regional Mahoning Valley organizations, VGV serves to aid in the growth of companies across Ohio, but particularly to those in the Valley. The Fund leverages the industry expertise, personnel, facilities, talent network, and operations of our investment team and partner organizations to produce high growth companies and generates substantial returns for investors.
While Silicon Valley is known as the “capital” for technology startups, a growing trend is emerging in the Midwest. According to a 2018 report, Ohio, particularly Northeastern Ohio, has the highest growth of entrepreneurship in the Midwest.
"When you're building a startup, you need all the help you can get! Valley Growth Ventures has fully rolled up their sleeves to help us in a multitude of areas like company strategy, business development, and marketing," said MedPilot Cofounder Matt Buder Shapiro.
Since initiating investments in 2018, the fund has four portfolio companies across multiple industries, which include:
· S4 Medical - S4 Medical is a medical device company focused on innovative solutions for cardiac procedures to treat atrial fibrillation.
· DAtAnchor-DAtAnchor is a data security solution, which provides seamless and easy to use strong encryption, automated data governance, and dynamic access control and revocation capabilities, enabling businesses to protect their sensitive data.
· MedaSync- MedaSync provides innovative real-time, predictive business intelligence and decision support software to help nursing homes stay financially sound.
· MedPilot-MedPilot is a leading patient financial engagement platform working with outpatient facilities, hospitals, revenue cycle management companies, and practice management systems.
VGV serves as an active investor within each startup, providing strategic guidance and operational resources to help pave the way for successful businesses to grow and scale their companies.
"Valley Growth Ventures has been extremely strategic for our company. They've done everything from introducing us to one of our largest customers to helping us best position our company for investors. We're very fortunate to consider Managing Director Ernie Knight, a true partner of our company," said Shapiro.
After receiving funding for startups, leaders often create strategic plans to invest in the company. From a company location, product investments, and employment companies develop these plans to develop short-term and long-term growth. Another key area of investment is in a company’s advisory board.
Leaders can’t reach success for their company alone. Advisory boards come in many variations as they relate to the organization, and they provide outside skill, advice, and expertise to help keep companies intact. Formal or informal, consulted once a week or once a month, advisory boards help mentor and guide organizations on how to grow, scale, and how to create strong relationships in the industry.
But there are many factors to consider when selecting the best advisory board for a company. Size, meaningful contributions to the company, and costs are just a few. Here are three good tips to consider:
Create your visionary plans for the organization, first
Before bringing any employees or board members to the table, make sure you have foundational elements for the company in place. Your board members are going to want to consider your sound and strategic plan before committing to the growth of the company. Provide them with a strong mission, your target audience and clientele, your values, and your current plan of scale – give them something strong to consider.
Select board members that fit the stage of your company
Time is of the essence, and it’s important to select members that will help you reach your current or short-term goals. While visionary thinkers are excellent additions, you’ll want to find members that can help you maximize the company’s immediate business objectives.
Establish terms for your advisory board members
Similarly, to the first tip, setting term limits help create a board that reflects the current needs of the company. Limits help board members transition in and out smoothly – meaning, if the board member serves excellent purpose through their first term, it makes sense to renew their second term. If the board member turns out to not be a great fit, or if life happens and they aren’t able to contribute as well as when they first started, the term sets the precedence for their exit.
Just starting your business? Get creative with compensation
Advisory board members often have other primary streams of income. For new startups, a bartering system may work better for advisory board members than monetary compensation. Can your company offer connections or resources? Opportunities for your members? Cut back on immediate costs by exchanging value.
Advisory boards are meant to provide organizations with solutions to challenges, and help them execute their strategic plan. Being intentional about your member selection and setting a strong foundation beforehand is one closer step to reaching company goals.