Remedy

insurtech

FOUNDING YEAR: 2015
LOCATION: United States
Last Update: 01/05/2020

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About

Remedy Labs protects you and your family from medical bills. We negotiate with hospitals and doctors to save you money.

MEDICI Analysis

Remedy Labs offers medical bill monitoring service. Users can enroll for the service and connect their account with insurance portal. Everytime there is a medical bill after a visit, the company's technology monitors for overbilling and negotiates on behalf of patients.

Focus

PRODUCTS & SERVICES

Platform to protect from overcharges in medical bill errors to patients.

REVENUE MODEL

The company charges service fee of 20% from the patient bill savings and it capped to $99 per medical visit.

PRIMARY PROBLEM SOLVED

Remedy has discovered the solution for medical billing errors. Remedy enables requests itemized bills on behalf of patients, detects mistakes using a mix of automation technology and human medical experts. It works with doctors directly to fix any errors. It can take anywhere from 12 hours to 2 months to resolve a billing case.

COMMENT

The company claimed that it has saved their customers an average of $1,000 per year after discovering errors for half of them.

People

FOUNDERS

Victor Echevarria

Marija Ringwelski

BOARD MEMBERS AND ADVISORS

Jenn Hirsch

NUMBER OF EMPLOYEES

1-10

INVESTORS:

BAM Ventures

Baroda Ventures

Beta Bridge Capital

Clark Landry

Efficient Capacity LLC

Financial Solutions Lab

Haystack

Justin Kan

Karlin Ventures

KohFounders

Marc Benioff

Precursor Ventures

Slow Ventures

Susa Ventures

KEY EMPLOYEES:

Victor Echevarria(CEO); Marija Ringwelski(COO); John Schulte(CTO)

Momentum

FUNDED

NO

NUMBER OF FUNDING ROUNDS

1

TOTAL FUNDING

$1.9 M

DATE OF LAST FUNDING

Sep 2016

TOTAL FUNDING COMMENT

Debt financing: $1.1 M(2015).

SEED & PRIOR FUNDING

$1.9 M

SEED CLOSED ON

Sep 2016

LISTED

NO

COMMENT

Venture: Undisclosed (Jun, 2016)

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