Relationships are important in any place of business. While we here at Health iPASS continue to form good working relationships with many medical practices around the country to help optimize their revenue cycle management and collect more patient payments, one of our most important relationships is not with a client at all. Health iPASS is a member of Matter, a healthcare incubator located in the Merchandise Mart in downtown Chicago.
What is Matter?
Matter is a Chicago-based healthcare incubator that assembles the brightest minds in health IT across the world working in every sector of healthcare: digital health, biotechnology, diagnostics and therapeutics. According to its website, in order to become a member of Matter, a company must be attempting to solve a meaningful healthcare problem, have the right entrepreneur or team in place to be successful, and have a compelling business strategy that Matter can help accelerate. Over 300 healthcare companies, including Health iPASS, have met these criteria and are now members.
There are several advantages that come with a Matter membership. Matter provides companies with a network that connects entrepreneurs with active investors and decision-makers from all different areas of healthcare. Getting feedback early on can often make or break startups, so Matter has mentorship programs for entrepreneurs, connecting them with some of the experts in the healthcare industry. Several Health iPASS staff members participate in the mentoring program to help others understand the most important aspects of working in the healthcare revenue cycle management ecosystem.
Additionally, Matter provides educational workshops as well as a host of seminars and events throughout the year. Our Venture Acceleration program helps startups build financial models, speed product development and raise capital. They also do not take equity in any of the startups they support. This allows Matter to provide companies with a neutral, unbiased approach toward improving our community members.
Chicago as a healthcare leader
We became a Matter member because we want to be a part of the vast Chicago health IT landscape. As experts in helping medical practices redefine patient revenue cycle management , we knew that our membership would positively contribute to our evolution as a market leader. In September 2017, the Health Care Council of Chicago (HC3) reported that healthcare comprises $69.7 billion, or 12.2 percent of Chicago’s economic production, making Chicago a major hub for the healthcare industry. Chicago also has a plethora of resources and incubators, like Matter, that help entrepreneurs gain capital and promote their brand.
Perks of Health iPASS being a Matter member
Being a Matter member has enabled us to exchange ideas and secure unbiased opinions and advice on our mission, what we do, and how we can improve upon what we have already built. Additionally, We have become more involved in collaborating with many of the healthcare leaders at Matter. We have become more active and engaging participants in the group, sharing our own wisdom and knowledge on revenue cycle management with the Matter community.
The collaborative environment has been beneficial for all involved. It has given us the ability to share ideas freely and easily, while also knowing that we are getting fair and honest feedback from some of the area’s premier healthcare professionals.
Chicago is a major healthcare hub and we are taking advantage of resources like Matter in order to leverage the knowledge and expertise of a diverse community. By seeking assistance and collaborating with some of the brightest minds in healthcare through our membership with Matter, we have been able to share our vision with several healthcare individuals and increase our footprint in the Chicago healthcare market and beyond. Matter might not be a big-name client, but through our membership, we are continuing to see how we can improve and refine our patient revenue cycle management solution as the market evolves.
