RBC bolsters bank’s healthcare offering with the acquisition of MDBilling.ca

Canadian leader in medical billing helps physicians spend more time with patients and less time on paperwork and administration

TORONTO, October 4, 2022 /CNW/ – RBC announced today that it has acquired MDBilling.ca, a cloud-based platform that automates and simplifies medical billing for Canadian physicians. The company joins Dr.Bill at RBC, another leading medical billing company acquired by the bank in 2020.

founded in 2008, TorontoMDBilling.ca’s product offering is based on its world-class, proprietary software that assists physicians with their medical billing. As one of canada One of the best digital medical billing solutions, MDBilling.ca is currently used by nearly 9,000 Canadian physicians, with more than $2.3 billion in OHIP claims paid through the platform since inception. The company also has an extensive list of partnerships with leading healthcare providers across Europe ontario.

Medical billing has always been a chore, consuming hours from a physician’s workday and personal life, relying on paperwork or outdated technology and complex provincial-specific billing codes. MDBilling.ca’s suite of products and services ensure physicians spend less time on paperwork so they can focus on what matters most, which is helping patients.

The acquisition supports RBC Healthcare’s strategy of providing innovative solutions to physicians at every stage of their career. MDBilling.ca clients also benefit from access to more than 1,100 RBC healthcare professionals trained to provide specialized advice and support for the unique financial needs of physicians and other healthcare professionals.

“Since launching our healthcare practice, we have worked to simplify billing for physicians through RBCx’s venture, Dr.Bill Sid Paquette, head, RBCx. “We are proud to be leaders in medical billing Canadawhich helps simplify and expedite the process for doctors to get paid for the incredibly important work they do.”

Jaime WongCo-founder and CEO of MDBilling.ca, added: “We couldn’t be happier. This is a great opportunity for our employees and customers as we enter our next phase of growth with the strength of RBC.”

The financial terms of the deal are not disclosed.

About MDBilling.ca

MDBilling.ca is a cloud-based medical billing company serving doctors in ontario and British Columbia, via their mobile and web billing apps. Founded in 2008 and used by almost 9,000 doctors Toronto-based company is one of the largest medical billing companies in ontario. Learn more at MDBilling.ca.

About RBCx

RBCx supports bold ideas, founders and technology companies. We know that building great companies takes more than just finance, which is why our four pillars – Banking, Capital, Platform and Ventures – make us the ideal supporter of Canadian innovation. We leverage our deep expertise to support businesses of all sizes and stages, leveraging RBC’s deep experience, networks and capital to solve the big problems of tomorrow.

About RBC

Royal Bank of Canada is a global financial institution with a purpose-driven, principles-driven approach to delivering leadership. Our success rests on the more than 92,000 employees who use their imagination and insight to bring our vision, values ​​and strategy to life so we can help our customers thrive and communities thrive. As canada largest bank and one of the largest in the world based on market capitalization, we have a diversified business model focused on innovation and delivering exceptional experiences to our 17 million customers Canada, the USA and 27 other countries. Learn more at rbc.com.

We are proud to support a wide range of community initiatives through donations, community investments and employee volunteerism. To learn how, visit rbc.com/community-social-impact.

SOURCE RBC

For more information: Please contact: Matt Trocchi, RBCx Communications, [email protected]416-200-6724

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