$25M Raised to Help Outpatient Clinicians Collect More Revenue

Oct 29, 2024

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Welcome to another insightful episode of The SaaS CFO Podcast! Today, we're thrilled to have Paul Singh, the dynamic CEO of StrataPT, join us for an in-depth conversation. With a rich background ranging from web hosting and angel investing to co-founding a venture firm and launching a subscription box company, Paul brings a wealth of experience and unique perspectives.

In this episode, we'll explore the intricacies of StrataPT's innovative billing-aware practice management platform which streamlines everything from EMR and scheduling to marketing. Paul delves into the company's efficient client onboarding process, their unique sales model involving clinicians as sales reps, and the strategic decision to raise $25 million after a decade of being bootstrapped.

We'll also discuss the significant impact StrataPT has on its clients, improving both financial and patient outcomes, and the company’s focus on key metrics like patient visits and unit transactions. Paul shares his philosophy of optimizing for fun and profit, his strategic approach to fundraising, and the importance of selecting the right growth partners.

Tune in as Paul provides valuable insights into running a SaaS business, navigating the challenges of the healthcare software industry, and his visionary approach to integrating various medical disciplines into StrataPT's comprehensive platform. Get ready to learn, be inspired, and gain actionable ideas for your own SaaS journey.

Show Notes:

00:00 Evolved businesses, fatherhood; founded Bump, StrataPT.

04:31 Billing-aware practice management platform for outpatient services.

08:47 Managing medical practices requires adaptable, varied strategies.

10:18 Variable revenue through collection percentage, no software fee.

13:51 EMR prices rising, focusing on patient visits.

19:25 Evolving into tech-focused company for profitability.

20:34 Navigating company culture while reinventing ourselves.

25:27 Email-gated chart identifies marketing qualified leads.

29:01 Guidance for profit-driven hire and onboarding process.

31:05 Maximizing sales by educating customers on opportunities.

35:05 Reflecting on life's time, fundraising challenges ensued.