Practical Founders Podcast

#73: Bootstrapped to a Successful $67 Million Exit with Medical Billing Solutions – Harry Hopkins

Dec 8, 2023

Harry Hopkins is co-founder and CIO of Viewgol, a medical billing technology software and services company based in Dallas, Texas. Viewgol was started in 2017 by three founders who got the product and revenues going before hiring additional staff. Their revenue cycle management (RCM) analytics software reveals medical billing problems and missed revenue opportunities at physician offices in the US.

As the company expanded its service offerings, Viewgol grew very quickly, from three employees in 2019 to almost a thousand employees at the end of 2023. Viewgol was acquired in October 2023 by CPSI, a public medical billing solutions company, for a reported $67 million in cash and earnouts.

Healthcare Software Company Topics Discussed on this Podcast

  • How the three founders worked for two years to get customers, revenue, and a working product going before they hired any additional team members
  • How the company grew from 3 employees to 1,000 global employees in 4 years
  • Why they started selling their software and eventually added tech-enabled-services
  • What were the most important factors for the founders in selling their company
  • How the founders managed the biggest internal growing pain as the company expanded

Quote from Harry Hopkins, cofounder and CIO of Viewgol

“We knew we were onto something big when we showed an early customer how they were overpaying one contract by a million dollars. So a $500 investment in our software returned into a million-dollar return for them. That number got everyone’s attention.

“For new customers, we take their billing data and we do a free assessment. Revealing the ROI using their own data is part of our sales cycle. So they’re walking into their leadership with an expected ROI. And we know how to value that engagement on our side.

“When we offered services on top of our technology, our first service contract came in we basically went from less than six-figure deals to seven-figure deals overnight.”

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Practical Founders Podcast with Greg Head

Every week, host Greg Head interviews a successful software founder who started, grew, and sometimes sold a valuable software company—without big funding.

Over $8 billion of founder equity value has been created by just 130 SaaS founders interviewed on this podcast so far. That’s an average of $60 million founder of equity value created by each company.

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