Eligible founder Katelyn Gleasons plan to upend the billion dollar medical billing industry

Eligible founder Katelyn Gleasons plan to upend the billion dollar medical billing industry

click photo for more information
Eligible founder Katelyn Gleasons plan to upend the billion dollar medical billing industry
Medical billing is a largely untapped and lucrativeindustry, potentially pulling in $55 billionglobally by 2020. But its inner workings are still very murky most of the time its not clear how much something will cost and sometimes you dont even get the (possibly whopping) bill until months down the road. Founder Katelyn Gleason wants to […]

Medical billing is a largely untapped and lucrativeindustry, potentially pulling in $55 billionglobally by 2020. But its inner workings are still very murky most of the time its not clear how much something will cost and sometimes you dont even get the (possibly whopping) bill until months down the road. Founder Katelyn Gleason wants to make it easier to know what and how much you are paying for before you step into the doctors office with her new medical billing startup Eligible.

Gleason has been through Y Combinator twice (once for DrChrono and once for Eligible) and raised $25 million from a syndicate of investors like Angellists Naval Ravikant, Reddits Steve Huffman, Dropbox founder Drew Houston and others so far. But, unlike many founders in the health startup field, she didnt start out in medicine and never went to business school.

Instead, she was a New York City stage actor who put herself through state university working as a sales rep and waiting tables. Gleason soon wound up working 90+ hour weeks as the top sales rep for DrChrono when the electronic health records company first came onto the tech scene in 2010.

Chaotic as it was in those early days, Gleason wanted to launch something of her own and saw the need to reform medical billing. While electronic medical claims processing is nothing new, the system has been stuck in a cloudless, pre-data sharing era.

That means when a patient is at the doctors office and a doctor recommends a certain specialist, theres no way to know if the patients healthcare covers the recommended specialist or what the final bill will be. Theres also no way to find out if theres a more cost-effective treatment option covered within the same insurance plan. Youre basically in the dark and it leaves the doctor potentially not getting all the money owed and patients left with staggering medical debt.

Eligible integrates with medical systems like the Cleveland Clinic or One Medical and Quest Labs to tell you not only how much the procedure costs but what your co-pay will be and offers you a way to pay without waiting months for the bill total. According to Gleason,doctors routinely collect 50 percent more revenue per month using Eligible, since theyre not stuck trying to collect bills after patients leave the office.

Other startups like Simpleeand iVinci are also working to modernize medical billing, but Eligible actually built the backbone for a lot of these consumer-facing startups and lets them use its API to unlock pricing data for patients in the same way e-commerce companies might use Stripe for payment processing. Legacy clearinghouses like Change Healthcare (formerly Emdeon) also serve more or less the same purpose but run on more ancient technology to create a billing workflow.

Eligible, which Gleason tells us has been profitable in the past but is now focused on scaling, makes its money on each of those payments, taking in five cents per transaction, with most of the revenue coming from insurance companies.

Gleason also says Eligible is on a growthtrajectory with about 14 million transactions per month currently and an expected 50 million transactions per month by the end of the year. Meanwhile, shes busy hiring in the data science and engineering departments and, following a strong trend in the health tech field, the company just released an AI bot named Ellie to make it easier for customers to ask questions about their bills.

Read more: https://techcrunch.com/2017/03/25/eligible-founder-katelyn-gleasons-plan-to-upend-the-billion-dollar-medical-billing-industry/

7 Cool Puzzles That Will Make Your Cat Work For His Food

click photo for more information
7 Cool Puzzles That Will Make Your Cat Work For His Food
Many pet cats are kept indoors for a variety of reasons in conditions that are perhaps the least natural to them. Indoor housing has been associated with health issues, such as chronic lower urinary tract signs, and development of problem behaviors, which can cause weakening of the humananimal bond and lead to euthanasia of the […]

So? Immigration officials say they’ll deport illegal who killed Kate Steinle

click photo for more information
So? Immigration officials say they’ll deport illegal who killed Kate Steinle
Jose Ines Garcia Zarate, the man found not guilty of murdering Kate Steinle, had been in a San Francisco jail before her killing but was released despite a federal request that he be held for his sixth deportation. That’s right — his sixth deportation. But now that he’s been found guilty of possessing a firearm […]

Would You Let Trump Run Your Company?

click photo for more information
Would You Let Trump Run Your Company?
In Washington, people struggling to come to terms with figures from the corporate world, luring Rex Tillerson from Exxon Mobil Corp. to run the State Department and a string of Wall Streeters. The stock market initially boomed. Trump’s message to business has been simple: Finally you have an executive in charge of the executive branch. […]

Smoking In Cars With Children Is Illegal Starting October 1, 2016

click photo for more information
Smoking In Cars With Children Is Illegal Starting October 1, 2016
#1 No More Smoking In Cars With Children Theres a new law aimed at protecting children from secondhand smoke, and if you are caught, the fine is going to be up to $80. On October 1st, it will be illegal to smoke in cars that have kids in them. #2 Thousands Of Chemicals When a […]

WOW: Michael Moore’s excitement about Rachel Maddow’s big Trump scoop stopped on a dime

click photo for more information
WOW: Michael Moore’s excitement about Rachel Maddow’s big Trump scoop stopped on a dime
Michael Moore was pretty excited about Rachel Maddow’s teaser for her big scoop on Donald Trump’s taxes: Turn on Rachel @Maddow! MSNBC! — Michael Moore (@MMFlint) March 15, 2017 Until something didn’t quite go as he hoped, at which point… Clearly the source of the "leaked" return is Trump himself. 10-20 missing pages w/ key […]

Amanda Seyfried Is Pregnant With Her First Child!

click photo for more information
Amanda Seyfried Is Pregnant With Her First Child!
Amanda Seyfried is going to be a mommy! On Tuesday, the Mean Girls actress attended the Givenchy press launch for their new Live Irrsistible fragrance where she announced she is expecting her first child with fianc Thomas Sadoski. Related:

Huntingtons breakthrough may stop disease

click photo for more information
Huntingtons breakthrough may stop disease
Some patients described it as Parkinson’s, Alzheimer’s and motor neurone disease rolled into one. Peter Allen, 51, is in the early stages of Huntington’s and took part in the trial: “You end up in almost a vegetative state, it’s a horrible end.” Huntington’s blights families. Peter has seen his mum Stephanie, uncle Keith and grandmother […]

Looking At Your Own Poop Could Actually Keep You From Getting Sick — Here’s Why

click photo for more information
Looking At Your Own Poop Could Actually Keep You From Getting Sick — Here’s Why
little kids. Even if you don’t talk about poop as openly as some people do, it’s important to know what your waste is telling you about your health and wellness. Thankfully, there’s a useful infographic to help us if we ever have any questions or concerns about our poop. Check it out below! One of […]

Carrie Fisher had one simple and hilarious request for her obituary

click photo for more information
Carrie Fisher had one simple and hilarious request for her obituary
Image: Jonathan Short/Invision/AP Carrie Fisher will forever dazzle the world with her wit and humor, even in her obituary. Fisher died on Tuesday at the age of 60 after suffering a heart attack during a flight from London to Los Angeles last Friday. The news is heartbreaking, and many remembered Fisher for inspiring both young […]

‘I’ve been through worse’: War-hero McCain tells Senate pal he’ll be back

click photo for more information
‘I’ve been through worse’: War-hero McCain tells Senate pal he’ll be back
Sen. John McCain, who has been diagnosed with an aggressive brain tumor, told Sen. Lindsey Graham over the phone Wednesday that hes been through worse, and then went on to discuss health care and other policy issues. McCain, R-Ariz., talked about the long road ahead regarding treatments, but said that he has been through wars. […]

This Interactive Map Sums Up The Damage Caused By The Anti-Vaccination Movement

click photo for more information
This Interactive Map Sums Up The Damage Caused By The Anti-Vaccination Movement
Vaccinations are one of the of most incredible aspects of modern medicine. They can make previously lethal diseases disappear from society and save countless lives. There is, however, a chance that the vaccines work a little too well and our collective memory is too short to remember the devastating effects some of these diseases caused […]

Veteran Jumps to His Death at V.A. Hospital

click photo for more information
Veteran Jumps to His Death at V.A. Hospital
A former employee and patient killed himself at a facility with a long history of inadequate care. PHILADELPHIA  A military veteran seeking psychiatric treatment walked out of a waiting room at the Veteran Affairs medical center in Philadelphia and jumped to his death from its parking garage Thursday morning. Gary Dorman of Mount Vernon, Pennsylvania, […]

6-Year-Old With Rare Bone Disorder Dances With The Rockettes

click photo for more information
6-Year-Old With Rare Bone Disorder Dances With The Rockettes
Few people could tear all the eyes in the room away from the stunning Rockettes while they’re performing; six-year-old Audrey Nethery is definitely one of those people. The young girl was first noticed by the public when her mother uploaded a video to Facebook of the youngster enjoying one of her favorite pastimes: Zumba.  The […]

This Is How You Really Love Someone Through Depression

click photo for more information
This Is How You Really Love Someone Through Depression
The phrase ‘love yourself before someone can love you’, doesnt apply to people who have depression. Because more than anything they are learning how to love and accept themselves. But sometimes, it takes following someone elses lead to get there. What people fail to address is the concept of truly being loved by another person […]

People can’t get enough of this new organic, vegetarian fast food.

click photo for more information
People can’t get enough of this new organic, vegetarian fast food.
When you think about fast food, what comes to mind? If you’re like me, you probably start salivating as you imagine greasy burgers, gloriously deep-fried onion rings, and calorie-laden milkshakes. Yum. Basically, this. Image via Thinkstock. A new fast food restaurant in California is aiming to broaden that image by introducing a vegetarian option. Andy […]
load more posts