ZocDoc is a company that operates an online platform for finding and booking medical appointments in the neighborhood. It also offers appointment and preventive check-up reminders along with online paperwork services.
With the rise of telehealth services in the wake of the global pandemic, the company is launching a new tool that will see it play a more active part in connecting patients to doctors. It’s partnering with communications platform Twilio to launch Zocdoc Video Service (ZVS).
Zocdoc has not disclosed financials. As a result, it is unknown whether the company is profitable or has a path to profitability.
Intensified Competition - more competitors/healthcare IT providers are eyeing the doctor’s appointment space.
Potentially Constrained Growth. As Zocdoc has already tapped into most major US metropolitan areas, further expansion in the US may be constrained.
Zocdoc’s founder and CEO Oliver Kharraz told Engadget that video visits now account for 30 to 40 percent of overall bookings, up from “essentially zero at the beginning of March.
The global telemedicine market size is expected to reach USD 155.1 billion by 2027, expanding at a CAGR of 15.1% over the forecast period. Increasing incidences of chronic conditions and rising demand for self-care medicines are the key factors driving the market.
Zocdoc has raised a total of $225.9M in funding over 9 rounds. Zocdoc has received financing from Founders Fund, Khosla Ventures and Goldman Sachs.
Zocdoc has not disclosed financials. Zocdoc, as of February 2017, serves doctors and other medical professionals in 53 cities in the US, including New York, Chicago, Houston, and Philadelphia, as listed on Zocdoc's website. As of June 2017, Zocdoc was already arranging over six million site visits per month.
Zocdoc might be acquired by a big company operating in healthcare digitization industry. The potential return on investment is 150%.