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Roundtrip CEO explains how the company wants to revolutionize transport to hospitals

Roundtrip CEO Mark Switaj joins Yahoo Finance Live to discuss how Roundtrip makes medical transportation more accessible amid COVID-19.

Video Transcript

ALEXIS CHRISTOFOROUS: Welcome back. The national average of patient no-shows at doctor's appointments currently stands at a whopping 25%, resulting in about $150 billion in lost revenue for providers. For lots of folks, it's a question of, how do I get to the doctor, of transportation. Our next guest is looking to close that gap by making medical transportation more accessible.

Here to discuss is Roundtrip CEO, Mark Switaj, along with Yahoo Finance's Adriana Belmonte. Mark, thanks for being with us. I don't think a lot of people may realize that is a real issue for folks. How do they get from home to the medical appointment. Tell us how your company, Roundtrip, is helping them do that.

MARK SWITAJ: Absolutely. Excited to be here. I actually come from the patient transportation space. I worked frontline on a vehicle for years, and I saw people giving up on their healthcare, sadly, maybe not because of the care they would get at the destination, but rather because of the complexities and lack of transparency in the actual ride sequence.

And so from that we launched Roundtrip. We are a software as a service organization that partners largely with health plans-- think like Medicare Advantage-- as well as very large provider organizations, the hospital systems and brands across the country that we may recognize.

ADRIANA BELMONTE: So Mark, explain to me exactly how this works. You know, is it like an Uber kind of thing where if I need to get to a doctor's appointment, I can just order it on demand? Or do I need to contact my provider first? How exactly does this work?

MARK SWITAJ: Yeah, exactly. So we would partner together with a hospital system, a healthcare provider organization, even a Medicare Advantage health plan and create the ability for access to transportation for an entire population. So for folks like me that might be able to get to the curb and could safely get into rideshare, we allow for that very powerful tool to be made available. But for folks that have more mobility needs, more complex needs, maybe they're even COVID positive but still need to get to the care that they require to be active adults or participate in the community, we are able to do that through the coordination of more advanced ride types-- think like wheelchair, stretcher, even non-emergency ambulance vehicles moving folks to and from their medical appointments.

- And then I'm just wondering, are you based more in the city or do you offer services in rural areas as well? You know, how wide is your range and are you expanding? And then also what sort of response are you getting from the people that you're helping?

MARK SWITAJ: Yeah, so this problem-- you kind of hit the nail on the head-- is an urban, suburban, rural problem. The challenges are across the country, and we operate in the most urban of locations like here in Philadelphia, where I stand. We're also in the more rural sections of Tennessee and eastern side of California where the availability of ride resources is different. We're able to partner with those organizations like a hospital or a health plan, allow for them to access that ride type that might exist in a community, and communicate that ride request to the right vehicle operator so that that person can simply get to their medical appointments.

What's so crazy is that one in five people like you mentioned miss or delay their healthcare. Transportation is one of the leading reasons. And so we find that if we improve this coordination, improve the engagement to the ultimate population, we're ultimately going to move that needle in improving health outcomes.

ADRIANA BELMONTE: So no-shows were already a big issue prior to the pandemic. But now-- or especially in 2020, people were stuck at home. They didn't feel safe going to the doctor's office, and they missed a lot of just normal, annual visits. So what kind of impact did your company have on this situation for patients like that?

MARK SWITAJ: Yeah. We are slashing no-show rates. There are so many statistics that I could share. But to the 20% statistic that everybody talks about-- that 20% miss or delay their healthcare-- we are seeing through rides coordinated through Roundtrip about a 3% no-show rate. Or said conversely, 97% of the riders that are able to get rides communicated through our technology result in them actually getting to their health care destination.

And that's because we're improving things like coordination. We're clinically integrated into the workflows, the Cerners, the Epics of the world. And we're also logistically integrated into those routing softwares of transportation companies. So we've got end-to-end visibility on that ride which allows us to improve engagement to the populations and then ultimately show, hey, this is the value the ride is having to that patient and their health outcome.

And we're even seeing the value of rides by disease states-- folks that get access to rides to their cancer appointments are obviously going to be able to participate in getting the care they need and actually improve their health outcomes through our technology.

ALEXIS CHRISTOFOROUS: All right. Roundtrip CEO, Mark Switaj. Interesting business model. Thanks so much for being with us.