Hey Healthcare
The business, the turning points, and the decisions behind them.
01 / WHAT IT BUILT
What the company did
Hey Healthcare was a San Francisco health-tech startup from Y Combinator's Summer 2019 batch that built automated medical billing software for therapists. It helped therapists get registered with insurers and bill them automatically, having processed $100,000 in insurance claims with early customers. The company raised $150,000 from Y Combinator and Liquid 2 Ventures.
02 / Hey Healthcare FAILURE REASONS
Failure factors
Co-founder Andrew Coyle's opened case study (andrewcoyle.com/health-tech) states that after initial success Hey Healthcare (YC S19 medical billing) lacked continued high growth, became increasingly service-based and harder to justify further investment, and after pivots he dissolved the business and returned capital to investors.
weren't seeing continued high growth after initial success.
Business became more and more service based, making it harder to justify further investment.
Dissolved and returned capital to investors after pivots.
03 / EVENT HISTORY
Events in the structured record
- Liquidation
Co-founder Andrew Coyle's opened case study states he dissolved Hey Healthcare and returned capital to investors; LinkedIn shows his Hey Healthcare role ending Dec 2022.
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
Raised $150,000 from Y Combinator and Liquid 2 Ventures.
- 02
Wound down in 2022 (the recorded liquidation year); no independent press coverage of the closure was found.
- 03
No reliable realized loss figure; venture funding raised is not a loss.