Jacob Myers, Matt Buder Shapiro, and Nate Spoden of MedPilot
An exclusive Tech Tribune Q&A with Jacob Myers (co-founder and CEO), Matt Buder Shapiro (co-founder and CMO), and Nate Spoden (co-founder and COO) of MedPilot, which was honored in our:
Tell us the origin story of MedPilot – what problem were you trying to solve and why?
We all met while living in New York City. Myers and Spoden came from the world of revenue cycle management and private equity, and I from political media strategy and marketing. Together, we saw a massive opportunity to build a software platform that could transform the patient billing process. MedPilot is a patient financial engagement platform that helps patients better understand and resolve medical expenses. Both patients and healthcare providers believe the industry standard (confusing paper statement delivered via snail mail) can be improved. MedPilot’s AI-driven communication approach has already helped over 1 million patients and boasts a 97% patient satisfaction score. Relocating the business to Cleveland led to a majority of our growth. We’re thankful for all of the incredible support we’ve received from local investors and partners like Jon Pinney, Chantel Moody, and GBS Corp.
What was the biggest hurdle you encountered in your journey?
Healthcare is dominated by a few significant players, making it hard for new startups to make a big impact. Sales cycles are long and favor established companies with long track records. Fortunately, we have been able to grow due to our network of partners, advisors, and investors opening doors, and our incredible team delivering industry-leading results.
What does the future hold for MedPilot?
We’ve invested heavily in our engagement platform to ensure we can efficiently and effectively communicate with patients. While our original intention was patient financial engagement, we’ve been receiving more interest in utilizing our software for other forms of communication. We’re thrilled to begin engaging patients around clinical and other administrative matters.
What are your thoughts on the local tech startup scene in Cleveland?
We’ve been impressed with the strength of the local tech startup scene in Cleveland. While it is undoubtedly smaller than the coasts, there is no shortage of hungry and smart entrepreneurs trying to make a difference.
What’s your best advice for aspiring entrepreneurs?
Building a company is one crazy rollercoaster of an experience. You will feel incredible highs and lows all the time, sometimes in one day! It’s essential not to get too caught up on either the big wins or losses during the process. The only thing that matters is keeping your head down and focusing on executing.