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 | edit source]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 | edit source]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
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