SM: You said that your target office is the small doctor’s office, yet you work with insurance companies. Your technology fills the gap between the two, but which one did you target from a strategic perspective? BB: From 1998 on, insurance companies’ Web sites became more visible and prevalent. We were on the Oxford Health
SM: You essentially act as a translator between physicians’ offices and all of the various insurance companies because you can present insurance forms in each company’s preferred format. Is that a fair assessment? BB: Yes, that is accurate.
SM: In 1995, when you were starting MD On-Line, you were on your own. Who did you have to actually build the technology, and how did you find them? BB: The first programmer I hired was Alan Sagan. I met him through a mutual friend. He is the nephew of Carl Sagan. He owned a
Bill Bartzak founded MD On-Line, Inc. in 1995. Today, the company is one of the fastest-growing technology firms in the country, having been named to Inc. magazine’s Inc 500 in 2004, the Deloitte Technology Fast 500, and the Deloitte Technology Fast 50 in New Jersey. Bartzak has a strong background of bootstrapped startup ventures in
SM: Do you offer scholarships or financial assistance for your students? DH: We certainly give back. We like to say that we are doing well by doing good. We are doing well as an organization by doing good things for society and our students. That includes $16 million in scholarships last year alone; 10% of
SM: Where are you doing your manufacturing? MH: We are doing it in Michigan. We took over an old automobile parts plant. That helps drive market interest to us.
SM: What impact do you expect the stimulus bill to have on your business? MH: We have a couple of things. The stimulus package which gave rebates such as the 30% federal tax rebate has been extremely helpful in terms of what it is doing. The economy is still hurt because people are still holding
SM: Who were the VCs that you raised money from? MH: Noventi Ventures was the main investor. There were two small firms, Greenhouse Capital and Big Sky Partners. We converted the notes and raised $5 million in new cash.