Prompt Cast
Challenges and Successes of ZocDoc Founders in Revolutionizing Healthcare Booking
TLDR ZocDoc founders faced initial skepticism and challenges convincing doctors and patients to use their online appointment booking service, but eventually found success by revamping their business model, securing funding, expanding to multiple cities, and adapting to the changing landscape of healthcare with the launch of telehealth services.
Timestamped Summary
00:00
ZocDoc founders faced challenges convincing both doctors and patients to use their online appointment booking service.
05:56
Oliver Kharraz faced the need to revamp ZocDoc's business model, leading to the breakup of his partnership with Cyrus, after growing up with a strong work ethic influenced by his father's social activism and early entrepreneurial success.
11:46
Oliver Kharraz and Cyrus came together as business partners with complementary skills, bonding over shared interests and a passion for improving healthcare accessibility, leading to the idea behind ZocDoc.
17:39
Oliver Kharraz and Cyrus gathered valuable feedback from people in Starbucks about their website idea, leading them to eventually quit their jobs at McKinsey to pursue ZocDoc despite negative feedback and skepticism.
23:11
Zocdoc founders worked out of their apartments, faced a tight deadline to launch the website, and had to convince doctors to sign up for the platform despite initial skepticism and challenges.
28:59
Zocdoc founders faced initial skepticism and challenges after launching the service at TechCrunch, struggling to get bookings and realizing the classic chicken and egg problem of needing supply to generate demand.
34:57
Zocdoc founders faced challenges convincing doctors to use their service due to technological limitations and had to personally troubleshoot issues to ensure a positive user experience.
40:25
Zocdoc founders changed their approach to VCs by ditching their consulting look for a more casual tech style, eventually securing funding and focusing on expanding their service beyond New York despite financial constraints.
46:21
Zocdoc expanded rapidly to multiple cities, raising significant funding to support growth, but faced challenges with their flat fee model and the need for continuous investment in sales to sign up more doctors.
52:23
Zocdoc's co-founder left the company, leading Oliver Kharraz to become CEO and make significant changes to the company's core values and culture to ensure future success.
58:10
Oliver Kharraz implemented a new business model at Zocdoc in 2018, shifting from an annual membership fee to charging doctors per booking, which initially faced challenges but ultimately proved successful after adjustments were made following negative reactions from doctors in New York.
01:04:02
Zocdoc experienced significant growth and profitability in 2019, but faced a major setback in March 2020 due to the decline in in-person bookings, prompting a rapid shift towards telehealth services that led to the successful launch of Zocdoc's video service.
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Business
