DS10: EFTA01618606 (.mov)
DOJ EFTA Dataset 10 (Seized Media)·Wednesday, January 1, 2025·2m
in all 50 states. It serves more than 60% of the population. Founder and CEO Cyrus Masumi is with...
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in all 50 states. It serves more than 60% of the population. Founder and CEO Cyrus
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Masumi is with me now. Cyrus, I've heard this described as an open table for doctor
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appointments. That's pretty much what it is, right? Well, yes, exactly. We're at the
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beginning of a better healthcare experience. So people can do everything
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on ZocDoc, from finding doctors who accept their insurance, to reading reviews, to
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booking appointments, even filling out their medical history forms, and being
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reminded about doing all the wellness. But it saves all this time. I mean, you can
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fill out. You just talked about the paperwork. You can fill that out before
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you even show up at the doctor's office, so you just go. And you can do it once and
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never do it again. We pre-fill it out for all the future doctors that you go to. How
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many people are freaked out about you having all of this information? How many
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questions do you field about hacking? Well, patient trust is very important to us at
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ZocDoc. One of my co-founders and our founding CTO actually came from the
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financial services industry. So we hold it. It's very, very important to us across
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the board as a company. And of course, we have patients first as a value.
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So this is something where we care about it very deeply, and we're very, very attuned
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to it. We have a head of data security who's focused on it. It's very important to us.
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Now, we, knock on wood, have had a lot of success in the sense that the website's been
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around for now seven years, and we've earned patient's trust. And so patients, when they're
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giving us this information, they know that it's going to go to the right people and not
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into the wrong hands. So I mentioned this is 60% of the U.S. population using your product,
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but you're also now, since about a year, really focused on businesses as well and establishing
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corporate clients. They're not just individuals, but corporations. How's that going?
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It's going great. So we've, less than a year, and we've already launched now in six different
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markets. We have had a lot of success because from an employer standpoint, this is a win-win.
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We help their employees get access to care faster, and we save them money. In some cases,
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we've actually reduced absenteeism close to 11% in some of our employer clients. And of
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course, they love that. They can make sure that people get to care faster, they're healthier,
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they save money, and they're at work more.
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They have more sick days. Yeah.
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Absolutely.
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So I know that, at least from a user's point of view, I don't pay. So how are you making money?
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So doctors pay us a monthly subscription fee of $300 per doctor per month. And of course,
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our employer clients for Zoc Doctor Business pay us a subscription fee as well.
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Okay. So that is the revenue model. Now, I know you've raised total around $100 million
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since you started, and this, as you point out, is in 2007. So what's next? I know you've
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had buyout offers. I know there's a lot on the table. How do you see the next year at ZocDoc?
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Well, the next, you know, we just completed our goal of being in all 50 states. And obviously,
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there's a lot for us to do in order to change healthcare. It's just a pretty lofty goal.
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It's not going to be a year. It's going to take us some time, but ultimately, we're just hyper-focused
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on bringing that change.
41 segmentsTranscribed by Epstein Pipeline (faster-whisper)