Name: CollaborateMD
Brand: collaboratemd inc
SKU: 68a2f57c40dc6753ba96d0f6
Rating: 4.2 (316 reviews)

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CollaborateMD

By collaboratemd inc

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Medical Software

Overview of CollaborateMD Software Company

CollaborateMD is a cloud-based medical billing and practice management software provider headquartered in Orlando, Florida. It serves independent medical practices and billing services across the United States, offering tools that streamline front-office and back-office operations through real-time claim submission, integrated payment processing, and EHR connectivity.

Founding and Growth

Founded: August 10, 1999, by Douglas Kegler, originally under the name XGear Technologies.
Rebranded: In April 2008, the company became CollaborateMD, Inc.
Growth Milestones:
- By 2017, it had processed over $46 billion in medical claims for 20 million patients
- As of 2024, the company had 32 employees and continued to grow under its parent company.

Funding and Valuation

Funding Status: CollaborateMD was formerly private equity-backed.
Acquisition: Acquired by EverCommerce on January 1, 2019, becoming an operating subsidiary
Valuation: Specific valuation figures are not publicly disclosed, but the company has maintained a strong growth score and market interest according to Crunchbase metrics

CollaborateMD provides a robust suite of features for medical billing and practice management:

Real-Time Claim Submission & Scrubbing
Electronic Remittance Advice (ERA)
Insurance Eligibility Verification
Patient Scheduling & Reminders
Integrated Payment Processing
Custom Reporting & Analytics
Mobile Access via Cmd2Go
EHR/EMR Integration
HIPAA-Compliant Messaging
Patient Payment Plans & Estimates

These features are designed to reduce administrative burden, improve cash flow, and enhance patient engagement.

Acquisitions and Product Expansion

Acquired by EverCommerce in 2019, which enabled CollaborateMD to expand its reach and integrate with a broader ecosystem of healthcare solutions.
The acquisition has supported ongoing product development and integration with other EverCommerce health tech platforms.

CollaborateMD AI and New Features

Recent updates have included:

Enhanced patient notifications
Expanded payment plan options
Improved claim tracking and task management
More robust reporting tools These updates reflect the company’s commitment to continuous improvement and user feedback.

Company Culture and Values

CollaborateMD emphasizes:

Innovation: Focused on simplifying healthcare billing through technology.
Customer Success: Offers extensive training, support, and customization.
Transparency: No long-term contracts or hidden fees.
Security: Strong commitment to HIPAA compliance and data protection.

The company maintains a small, agile team and fosters a culture of responsiveness and user-centric design,

User Base and Community

Serves independent practices and billing services across the U.S.
Known for its ease of use, especially among small to mid-sized practices.
Active online presence with training videos, help articles, and community support.
Monthly web visits exceed 500,000, indicating strong user engagement.