PatientBank
The business, the turning points, and the decisions behind them.
01 / WHAT IT BUILT
What the company did
PatientBank was a San Francisco health-tech startup founded in 2015 by four Yale alumni — Paul Fletcher-Hill, Feridun Mert Celebi, Kevin Grassi and Graham Kaemmer — and backed by Y Combinator's Summer 2016 batch, General Catalyst, Khosla Ventures and SV Angel. Its online platform let patients electronically gather, store and share their medical records from any doctor or hospital, offering medical record retrieval, secure storage and sharing for checkups.
02 / PatientBank FAILURE REASONS
Failure reasons
PatientBank shut down because its core operational problem — consolidating fragmented medical records from providers using different formats — proved too costly to run at scale, while the company never found a revenue model strong enough to sustain it. The startup ran out of cash despite raising about $2.2 million in seed funding in late 2016. It also faced a crowded field of established health-tech competitors chasing the same online medical-records vision.
03 / EVENT HISTORY
Events in the structured record
- Company founded
Four Yale alumni found PatientBank in San Francisco to let patients gather and share medical records online.
- YC and seed funding
PatientBank joins Y Combinator's Summer 2016 batch and raises about $2.2 million in seed funding from General Catalyst, Khosla Ventures, SV Angel and others.
- Shutdown
PatientBank shuts down on January 12, 2018.
04 / CONTEMPORARY REBUILD ASSESSMENT
Difficulty of rebuilding this project today
Material for this section is being gathered and checked. It will appear here once ready.
Overall assessment: Not completed
05 / CAUSAL CHAIN
How the factors connect
- 01
In late 2016 PatientBank raised roughly $2.2 million in seed funding to scale its medical-record retrieval service.
- 02
The operational cost of consolidating non-standardized medical records from many providers exceeded what the startup could sustain without a working revenue model.
- 03
PatientBank shut down on January 12, 2018; no acquisition or formal liquidation was reported.