ZocDoc Expands Into Corporate Wellness

6-25-2013 7-16-26 PM

ZocDoc announces a strategic move into corporate wellness with its new ZocDoc for Business product line. Unlike ZocDoc’s free consumer facing services, ZocDoc for business will be a premium service that will give ZocDoc a foot in the door of the growing $600 billion employer health benefits market.

“For years, employers have been asking us for a premium offering, and we’re pleased to deliver this customized service to them. The introduction of ZocDoc for Business highlights our growth as an evolving platform, and we’ll continue to roll out innovative products and features to new audiences.” – ZocDoc founder and CEO Cyrus Massoumi.

It sounds as though the development process was light for ZocDoc. Rather than providing a fully customized platform for its new business offering, ZocDoc simply creates premium accounts for employees enrolled as member of a paying customer, after which their user experience is similar to ZocDoc’s mainstream premium users.

Within ZocDoc for Business, employees can book appointments, with a ZocDoc reported 99 percent in-network booking rate, and coordinate other healthcare benefits. ZocDoc helps boosts compliance with preventative care recommendations, which is tied to lower absenteeism, by delivering actionable, patient-specific reminders. The company also suggests that by providing a scheduling tool that lets patient’s search for appointments at a time of their choosing, the net effect is an increase in after-hours and weekend doctors visits, a plus for employers trying to maintain productivity.

Special to the business platform is the ability to sign up for in-office wellness events, such as flu shots, yoga classes, or lunch-break walks. Employee’s also get premium access to weekend and evening appointment slots. For employers, there is a real-time health analytics dashboard that will help measure employee engagement and usage.

The move is not surprising, considering that ZocDoc has been rumored to be going public since mid-2011. The opportunity to add a new growing sector to its portfolio is one that will only help sell investors when the time comes.  In total, ZocDoc has raised $95 million in funding to date, with its last venture round of $75 million closing in 2011. Since then, the company has been operating on revenue, supplemented by debt financing and convertible notes.

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