|Type of business||Private|
Vitals is a company that provides a health care platform that helps consumers find medical care by comparing their cost and quality. Vitals transparency tools are available to consumers through their employer or health plan. The company also has a free service for consumers to find doctors.
History[edit | edit source]
Vitals was co-founded in 2007 by Mitch Rothschild, Todd Rosengart and Richard Forman. Rothschild claims the idea was born out of personally experiencing the complexity of finding a qualified physician for a surgery on his knee.
Vitals has raised investment capital from Health Venture Group, Milestone Venture Partners, Greycroft Partners, Cross Atlantic Partners, Cardinal Partners and Health Venture Group HEA and Athena, and Health Enterprise Partners. On June 18, 2013, Vitals closed $22 million in Series C funding. Investors participating in the round were Piper Jaffray, Cardinal Partners, Health Enterprise Partners, Milestone Ventures Partners and Greycroft Partners. Funding will be used to expand the Vitals consumer footprint and includes better data, more tools, helping consumers know the cost of their healthcare and developing decision-support tools for health insurance choice.
According to the company’s press releases, Vitals was awarded a Red Herring Top 100 award and a Build 100 award in 2014. Kiplinger Magazine named Vitals the Best Health Review Site in 2011. CNN’s Money Magazine named the company the best doctor site in February 2010 and Forbes called Vitals one of the “Five Health Shopping Web Sites Worth Watching” in June, 2010.
Business Model[edit | edit source]
Revenues for Vitals are generated by employers and health plans purchasing services on Vitals enterprise platform. The company also generates ad sales on its free doctor finder website.
Criticism[edit | edit source]
Vitals has been criticized along with other doctor-review sites for allowing reviews to be posted about doctors anonymously, with the complete inability of providers to respond due to patient privacy laws. Vitals claims that reviews submitted by users are systemically screened for defamatory or inflammatory remarks; however, again, due to privacy, laws, there is no way to verify information contained on the website. They claim to have a Physician Relations team that investigates suspicious reviews.
References[edit | edit source]
- West, Adam (18 August 2017). "Vitals® Brings Comparison Shopping to Health Care, Helping Consumers Save Money on Procedures and Appointments". BadCredit.org. Retrieved 19 November 2017.
- "Vitals.com finds physicians, draws first institutional VC round". October 13, 2008.
- "Vitals.com Closes on $4 Million in Financing, Fueling Accelerated Growth and Building on the Company's Rapid Expansion". prnewswire.com. Archived from the original on 9 January 2014. Retrieved 13 October 2008.
- "Cardinal Partners - Portfolio", cardinalpartners.com
- "Health Venture Group, LLC - Transactions". healthventuregroup.com. Archived from the original on 20 March 2012.
- "HEA and Athena - List of Healthcare IT Investments in 2011", emrthoughts.com indoglobalhealth.com
- "Enterprise Partners". hepfund.com. Archived from the original on 30 August 2012.
- Kiplinger Magazine kiplinger.com
- "Five Health Shopping Web Sites Worth Watching", forbes.com
- Deardorff, Julie (November 15, 2010). "Doctors: Web ratings flawed". Chicago Tribune.
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Similar sites[edit | edit source]
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