How Zocdoc Works: Business Model and Revenue Streams

  • Zocdoc’s proprietary sync technology connects them with provider calendars. It connects the portal across different PMS systems in real-time, and surface open appointments to patients, including newly available slots that come open due to reschedules, cancellations and no-shows.
  • The patient-powered search engine within the portal uses machine learning. It ensures that patients can use his or her own language, including colloquial terms, slang, and misspelled symptoms, to confidently find the right provider for their needs. This also helps them view open appointments, especially those within the next two calendar days.
  • The medical appointment booking app uses Artificial Intelligence (AI) to decipher, understand, and verify patient’s insurance.
    According to a Zocdoc-Kelton Global Insurance survey, more than 50% of insured Americans say they have a difficult time figuring out what their insurance will cover, and 77% would like an easier way to ensure their doctor is in-network when booking appointments.”
    The AI model by Zocdoc recognizes the patterns of thousands of types of medical insurance cards and then match them with known carrier and plan information.
  • Understanding pain point of the masses is important. Zocdoc targets the challenges in the U.S. healthcare system and overcomes it innovatively through technology.
  • Keep all stakeholders in mind. While Zocdoc aims to reduce the wait times for patients, it also gives healthcare providers and physicians a reason to register them on the platform, with benefits like better visibility, easy reimbursements/payment etc. Maintaining the platform and features for all stakeholders in the system is imperative.
  • Building a network is difficult but possible with time. At an inception stage, Zocdoc adopted the offline registration model for providers. It took them a good 9 years to have a massive network of doctors and practitioners on their platform so that they can cater of a user base of 6 million per month, across 2000+ cities in the U.S.
  • Backing the idea an appropriate and updated technology matters. Zocdoc utilizes the best of technology like AI to offer most useful and creative feature set to both patients a d providers. Having a scalable team in-house or choosing a healthcare technology partner is a crucial step to build a successful tech-driven platform..

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