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Liine uses AI to give specialty and dental practices data on performance, marketing, and leads
Specialty practices spend time and money driving prospective patients to contact their businesses, but then they have no effective way to track the efficacy of those marketing efforts, manage subsequent touchpoints, or measure outcomes, such as whether leads actually turn into patients.
"This is not the fault of the practices, but rather a lack of tools available that could accurately capture what was happening with new patient interactions automatically. Practices are far too busy to track all that information manually," said Brad Blaser, CEO and co-founder of patient acquisition platform Liine.
"Liine was created to shine light into this black hole of lead management for specialty healthcare and dental practices."
Earlier this week, the company announced a funding round of approximately $3 million, led by Eastside Partners, bringing its total raised to approximately $5.8 million. Along with the funding, it was also revealed that Ramsay Battin, Partner at Eastside Partners, and Arun Mohan, co-founder of Radix Health and President of Relatient, have joined the board of directors at Liine.
"Both Arun and Ramsay have many years of experience investing in and building leading healthcare technology companies," said Blaser.
Founded in 2016, the Raleigh, North Carolina-based Liine allows its customers, which are typically growth-focused healthcare and dental practices, to gain insights into marketing attribution, lead outcomes, missed opportunities, and staff performance. The platform also includes automated workflows that turn more leads into booked appointments.
Liine is also removing the hassle of web lead management, as any web lead instantly triggers Liine to call the practice. The staff who answers this call will have the option “press 1” to immediately call the web lead directly, meaning that the practice can often get the web lead on the phone within 30 seconds of their inquiry and without needing having to manage a web lead inbox.
By solving web form “speed-to-lead” for practices, Liine’s average customer can book 3x as many new patients from web leads.
"Our most powerful and unique insights are driven by our conversational AI that is able to capture information from within phone calls. Among other things, Liine can tell if a phone call is truly a new lead or an existing patient, whether the caller ended up booking an appointment, and which staff member took the call," Blaser explained.
"If a new lead did not book an appointment, Liine even captures why not. This means Liine provides much deeper insights than anyone else on the market - insights that directly drive revenue-affecting decisions."
Liine is currently servicing hundreds of practice groups who see overall lead-to-appointment rates increase between 10% to 25% after implementing the platform. Depending on the customer, this an translate into to hundreds of thousands, or even millions, in incremental revenue each year.
For example, the Triangle Region of EmergeOrtho added 217 additional new patients per month by boosting their conversion rates, translating to $2.6 million in additional annual revenue, while the Chapel Hill location of CarolinasDentist saw a 43% increase in lead-to-consult rate and had an 82x ROI, and Dermacare Laser & Skin Clinics used Liine to book 70 additional patients per year for an increase in revenue of $140,000 annually.
A significant portion of the new funding will go towards scaling out the Liine team, while also allowing the company to accelerate product development, including additional communication channels for automating lead follow up, and go-to-market initiatives.
"The most successful healthcare specialties will be the ones with the data and processes to convert leads. And Liine will be that tool ubiquitous to the industry," said Blaser.
(Image source: liine.com)
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