Miami — If you were to think when in your life customer experience matters most, you’d probably say when you’re sick and at the doctor’s office or in the hospital. In fact, having someone drop the ball when it comes to medical care could mean the difference between life and death. Knowing this, Track.co, a Brazilian customer experience management platform founded in 2012, today announced the acquisition of HFocus, a patient experience company in the health space that has as its clients some of the biggest names in Brazilian healthcare, including the Albert Einstein hospital and Sírio-Libanes hospital. The value of the deal was not disclosed.
“We were interested in HFocus because their know-how [in healthcare] is more advanced than that of Track’s and also because the partnership gives us the opportunity to work with top healthcare systems in Brazil,” said Tomás Duarte, co-founder and CEO of Track.co.
The acquisition will value Track at R $150 million and allow them to achieve 70% market share in the patient experience sector.
Duarte said that he and his partners were also interested in HFocus because of its top two executives, José Choucaira, CEO of HFocus and now CFO of Track and Cristina Berlanga, HFocus’ chief product officer.
Choucaira comes from a strong finance background, having worked at BTG, Santander, and UBS.
While the acquisition will help Track expand its reach in the healthcare sector, it’s not an entirely new area for the company; 22% of Track’s revenues already come from the healthcare sector, and that number will grow to 35% with the recent purchase, Duarte said.
“With HFocus we now track about 100 healthcare companies, and 1500 healthcare locations,” said Duarte.
There is a direct correlation between patient experience and hospital funding, meaning that treating patients well isn’t just the right thing to do, it’s also what’s good for the bottom line.
One of the most talked about KPI’s (key performance indicators) in the startup world, and something that Track tracks, is the NPS (Net Promoter Score). Startups often brag about their NPS and that’s because the NPS measures how likely a client is to return to your business. The NPS is measured between 1-100, and in a survey conducted by Survey Monkey, the top 25% of tech companies they surveyed have an NPS of 64 or higher, but what’s considered “good” changes by industry.
The NPS was developed by Bain & Company in 2013, and is widely used today across industries, including healthcare.