Since launching in 2008, Greenville’s Fusion Web Clinic has developed a proprietary cloud-based software for pediatric therapists and experienced extraordinary growth, ultimately employing 23 team members. We sat down with Fusion co-founder Derek Pedersen to discuss everything from the company’s software to its plans for the future.
What does Fusion Web Clinic’s software do?
Our software acts as an all-in-one management platform for thousands of pediatric therapy clinicians across North America. It essentially streamlines their operation by allowing them to schedule and document patients, file insurance, and deal with the other necessary evils of managing a business.
Can you explain your business model?
We’re following what’s called the “subscription as a service” model. We’re selling our customers a subscription to the software. In other words, they aren’t buying it outright. It’s sort of like Netflix. You’re not actually buying all the movies, you’re just buying access to the movies. And if you ever stop paying, you lose that access.
Why did you decide to focus on pediatric therapy clinicians?
After selling our first subscription, we quickly realized that our software was unique to that market. We listened to several practices complain about how they were spending over 10 hours a week on managerial tasks. We knew our software could make those tasks easier and get them back to doing what they love to do, which is helping people.
What are the benefits and challenges of operating in a niche market like pediatrics?
One of the biggest challenges is raising capital, because the market size isn’t large enough. In fact, we’ve never taken any funding or debt. Everything is still ours. Another challenge is that there are only so many clinicians we can sell to. And with a niche market, you have to make sure your churn rate is good. If you don’t provide clients with a good buying experience the first time, then they’re probably not coming back. Another challenge is that nobody is looking up “pediatric therapy software” on Google. They’re usually looking at the broader market for services like ours. But when they find us, it’s like finding the perfect pair of jeans. They get exactly what they’ve needed. Right now, our customer retention rate is nearing 99 percent, which is astronomical.
What does the future of Fusion Web Clinic look like?
There are a lot of cool ideas floating around, so I wouldn’t be too surprised if we were to see a variant of our current software further down the road. I think something like that could put us in a broader market. But I’d like to emphasize that our vision isn’t going to change. Our future as a company relies on our ability to make life easier for therapy providers. That’s what drives us at the end of the day. That’s what fulfills us.
What is one statistic that characterizes your company’s growth?
We’ve grown by over 100 percent for the last five years in a row.