COMPANY

Name: The Auctus Group

Legal Name: The Auctus Group, LLC

Location: Chicago, IL

Founded: 2012

Founder(s): John Gwin, Kyle Battles

Website: https://auctusgroupconsulting.com/

Social Media Following: 73 Likes on Facebook

INDUSTRY – Medical Practice Management and Consulting

Size: Global market size – $3.6Bn (Source: Global Medical Practice Management Software Market Size, Status and Forecast 2019-2025)

Projections: $6.7Bn by 2025 (CAGR of 8.3% between 2019 and 2025)

Introduction

Founded in 2012, The Auctus Group is a medical practice management and consulting firm. It offers exclusive support to plastic surgeons and dermatologists with developing and managing the business end of their practices. The Chicago-based firm provides medical practices with operational, financial, and administrative assistance through the use of technology-driven systems and software.

The Product

The Auctus Group works with medical practices to build their financial and management systems from scratch. For those who have existing systems and structures of the practices, the company tailors its solution accordingly and integrates with them. It provides specialized tools geared towards plastic surgeons and specialists involved in different types of cosmetic/reconstructive surgery. Its focus on the plastic surgery and dermatology segment, along with an extensive range of services, sets it apart from other medical practice management firms.

The areas in which it supports specialists and practices include, but are not limited to, medical billing, bookkeeping, implementing electronic health records (EHR), operations consulting, patient financing options, merchant service processing, vendor relations, software management/implementation, staffing/training, and more. Besides these, the firm also facilitates small business loans for practices to expand, acquire new equipment, and add capabilities. Moreover, these services are free of any term clauses, allowing clients to terminate the services anytime. 

Origin and Founding Team

John Gwin and Kyle Battles – the founding partners of The Auctus Group, are childhood friends who both worked in the medical billing and administration industry after graduating from DePaul University, Chicago. Having spent a few years in the industry, they realized the market lacked firms providing a comprehensive suite of financial and management support to medical practices. This prompted them to build a company that addressed this gap in the market by using technology to make medical practices more efficiently managed. With their collective expertise and experiences in the medical billing and medical practice management segments, the two established The Auctus Group in 2012. 

Performance and Trends

According to its website, The Auctus Group has processed $1.50M worth of charges and $108M worth of claims to date. It also claims a client retention rate of 100%.