Healthcare MarketMaker, the “Amazon (or maybe Zillow) for medical goods and services,” just graduated from Jumpstart Foundry, one of the top accelerators in the country (according to TechCrunch). They also just accepted a spot in LaunchTN’s “Tenn,” a program that chooses 10 startups to represent a sample of disruptive, scalable, and tech-focused companies throughout Tennessee. They were the only team from Jumpstart Foundry accepted.
Healthcare MarketMaker is an online marketplace that helps physicians buy, sell or more effectively manage their practice. The cloud-based platform will connect physicians looking to buy or sell a practice based on specific search criteria, much the way Zillow serves the real estate industry. In addition, Healthcare MarketMaker will help physicians enhance the value of their practice by providing access to trusted vendors, called mPartner, in the same manner consumers shop Amazon. An added benefit to physicians using Healthcare MarketMaker is the availability of industry trends, best practices and other relevant educational healthcare and business content.
“It’s really interesting to see other teams from other accelerators,” Tony Corley said in an interview with Southern/alpha. “[The program] has also given us an introduction to other accelerator leaders.” Tony said that moving from Jumpstart Foundry into the Tenn provided different opportunities for the teams as new mentors start to crowd around the startups hailed as some of Tennessee’s best. “It’s a different sphere of mentors,” he said.
What is the purpose of the Tenn?
“We meet two days a month, and we go over curriculum from the Rockafeller habits using software called align that helps us stay ‘aligned’ with the habits,” Corley said. Additionally, the Tenn Bus Tour travels around Tennessee, making stops in Chattanooga, Memphis, Knoxville and Nashville to meet with mentor representatives from all over Tennessee, to help with business advice, product development and strategy. The Tenn offers access between investors and startups that they might not have otherwise. Early next year, between January and February, the Tenn will go to both New York and San Francisco to meet with investors and mentors.
On a day to day basis, the Tenn has calls with the teams to catch up on their latest business developments. In the case of Healthcare Marketmaker, and according to Corley, “the lion’s share of all our time is spent on the product.” He continued “we’ve staffed up since jumpstart. We’ve hired 3 people that are helping us with product, marketing and content.”
Healthcare MarketMaker is one of the three teams that raised money before Demo Day. The team raised $65,000 during their time at Jumpstart Foundry. According to Corley, the raise was from local advisors from within Jumpstart.
The Amazon of Healthcare
At the core, Healthcare MarketMaker is a medical marketplace. “Our vision is centered around physicians who are down market from consolidation services. If you are non-urban, you need glue that helps you match-make solutions.” Corley said.
Healthcare MarketMaker has secured several mPartners including broker, Alliant Capital Advisors, and is currently targeting 100 potential vendor partners across a variety of vertical industries including:
- Billing and collecting,
- General accounting
- Medical malpractice
- Financial services (bookkeeping)
- Practice brokers
- Financial lending
Right now, in collaboration with the Tenn, Healthcare MarketMaker is focused on signing up partners and going to market aggressively, two things they need to create a win.
Corley gave us some clues as to where Healthcare MarketMaker is headed next. “In our next raise we are looking to further develop the platform,” he said.
Healthcare MarketMaker is a Nashville-based startup committed to helping physicians enter, exit and manage their practice.