CPE Media News (2/24/2020) – RBC Ventures has acquired Dr. Bill, a premium billing solution that simplifies and streamlines the billing and payment process for Canada’s medical community. Tha acquisition was made by RBC Medical Billing Inc., a wholly-owned subsidiary of Royal Bank of Canada (RBC).
Founded by CEO Steve Lionais, CTO Hirad Motamed, COO Milad Mesbah, Dr. Bill provides a modern-day solution that is ideal for physicians who are just getting started and for established physicians whose billing processes need to be modernized and streamlined. Dr. Bill refines an outdated process and saves time, ultimately allowing for a more efficient practice that enables physicians to spend more time on patient care.
Dr. Bill complements RBC Healthcare’s current offering by providing a tailored solution to support physicians, targeting a major pain point: billing.
Dr. Bill founders will continue to lead the company under RBC ownership.
RBC Ventures Eases the Pain for Physicians with Acquisition of Dr. Bill
Dr. Bill simplifies medical billing with a mobile-first platform that allows for on-the-go claims and direct payments.
TORONTO, Feb. 24, 2020 /CNW/ – RBC Ventures has acquired Dr. Bill, a premium billing solution that simplifies and streamlines the billing and payment process for Canada’s medical community. Currently available in Ontario, British Columbia and Alberta, Dr. Bill provides doctors with a user-friendly mobile billing platform, as well as dedicated live agents, to deliver an industry-leading billing success rate.
“Dr. Bill, a best-in-class physician billing platform, helps create a better experience for healthcare providers who are seeking an easier, more convenient billing system,” says Alison Chick, Vice-President, B2B & Health Ventures at RBC Ventures. “Going beyond banking to provide value-added products, services and capabilities is at the core of RBC Ventures. The acquisition of Dr. Bill differentiates how RBC is supporting the medical community.”
Dr. Bill provides a modern-day solution that is ideal for physicians who are just getting started and for established physicians whose billing processes need to be modernized and streamlined. Dr. Bill refines an outdated process and saves time, ultimately allowing for a more efficient practice that enables physicians to spend more time on patient care.
“Physician billing is often still paper-based and inefficient, which can lead to errors and unnecessary administrative overhead,” says Steve Lionais, Dr. Bill’s co-founder. “I saw this first-hand watching my wife do her billing in the evenings. Instead of enjoying her time away from work, she was spending hours sorting through stacks of paper. Dr. Bill was created with a mission to make medical billing simple and pain-free by helping physicians like my wife save time and spend it on what matters most.”
Dr. Bill complements RBC Healthcare’s current offering by providing a tailored solution to support physicians, targeting a major pain point: billing. Billing for patient care is a key function to running a practice and RBC Healthcare is committed to supporting physicians with the business aspects of their practices.
“Doctors complete medical school and residency with little to no training on how to operate a business, so establishing their own practice and learning all of the nuances of running it can be a daunting experience,” says Niranjan Vivekanandan, Vice-President, RBC Healthcare. “A critical focus of RBC Healthcare is providing exclusive offerings to support doctors in forming and building their practices. With innovative solutions – like Dr. Bill – RBC Healthcare is helping physicians to allow them to focus their time on their patients and their own families.”
RBC Healthcare recently launched RBC Healthcare Advantage, a membership program designed to support healthcare professionals at all stages of their careers. RBC Healthcare Advantage plan members are eligible to receive an exclusive discount on Dr. Bill’s services. For more information, visit: rbc.com/practicesolutions.
Royal Bank of Canada is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance. Our success comes from the 85,000+ employees who bring our vision, values and strategy to life so we can help our clients thrive and communities prosper. As Canada’s biggest bank, and one of the largest in the world based on market capitalization, we have a diversified business model with a focus on innovation and providing exceptional experiences to our 17 million clients in Canada, the U.S. and 34 other countries. Learn more at rbc.com.
We are proud to support a broad range of community initiatives through donations, community investments and employee volunteer activities. See how at rbc.com/community-social-impact.
About RBC Ventures
RBC Ventures is going beyond banking to create meaningful solutions that touch every Canadian. We are building new ventures, acquiring growing firms, making investments and partnering with organizations that share our vision. For more information, visit RBCVentures.ca.
About RBC Healthcare
RBC Healthcare was created to address the needs of healthcare professionals throughout each of their life stages. RBC Healthcare’s network of over 550 Healthcare Specialists are trained to understand the unique needs of Healthcare Professionals. RBC Healthcare Advantage is now available to eligible healthcare professionals who join or are already banking with RBC, including medical students and dentists. To learn more, visit rbc.com/healthcare.
SOURCE : PRIVATE CAPITAL JOURNAL