In March 2023, a banking industry disruption no one saw coming caught everyone off guard. The news sent shockwaves throughout the country. For one bank’s customers, it was an unsettling ordeal creating worries about their money and their business. Fortunately for Orderly Health, a Denver-based health data startup, a referral to Bridge Bank meant they were able to keep their business operational, without missing a beat, and were back to banking as usual by Monday — and experiencing a level of customer service and connection that came as a pleasant surprise.
“We talked with several banks whose timelines were so lengthy that we were worried we would be stuck holding the bag,” explained Orderly Health President and Co-Founder Kit Kieling, MD. “Bridge Bank was the most compelling in terms of our initial conversations and the speed with which they were able to roll over our existing assets. They worked all weekend and by Monday afternoon, we were comfortably in the arms of Bridge Bank.”
Founded in 2015, Orderly pivoted in 2019 from a patient navigation platform to a technology company exclusively involved in managing provider data to ensure it is as clean and accurate as possible, using machine learning, AI and custom software. Orderly then delivers that data to health insurance companies and provider groups to help each organization provide up-to-date and accurate information to their customers and payors.
Orderly’s core product offerings include the Roster Automation Suite, which automates, translates and standardizes healthcare provider data across any format, helping to achieve an 80-90% increase in productivity, and its subscription-based Provider Directory.
For Orderly, the move to Bridge Bank came with several unexpected bonuses, well beyond the stability they desperately needed. One plus was a set of products and solutions to make the most of the company’s funds, which is so essential during the startup phase.
“We had tried to set up an Insured Cash Sweep account with another bank, and they just didn’t make it as easy as Bridge Bank does. The fact that the Insured Cash Sweep account allows us to have a revenue-generating investment while at the same time having access to that liquidity with 24 hours’ notice is a real boost for us,” Kieling said. “We’re huge fans of not only the solution but also the way the team pitched it to us, helped us get it set up and held our hands from day one.”
“Our positive experience can be attributed to even the smallest things,” noted Kieling. “For example, we were struggling with how to see something on our account page and the responsiveness of the customer service team further entrenched in our minds how customer-focused Bridge Bank really is.”
Orderly knows something about delivering customer satisfaction. The company has never yet had a client “churn,” or stop purchasing the service, and its net retention rate is 135-140%, meaning most clients sign up for additional work from the company. In 2022, Orderly’s Net Promoter Score (NPS) — a measure of customer satisfaction from -100 to 100 — was 86; Kieling said it’s closer to 100 today. By comparison, the software/tech industry averages an NPS of 41, according to Qualtrics, with anything above 50 considered “excellent.”
“We view our clients as partners and their success means our success. We ourselves have taken a white-glove approach ensuring customer satisfaction across the board. We have a holistic view of putting the customers first and we felt a similar ethos coming back to us from Bridge Bank.”
Today, Orderly is preparing for its Series A funding round and anticipates taking advantage of other Bridge Bank solutions, such as venture debt funding, following that milestone.
“The white-glove treatment of our company has been beyond compare. It’s nice we had real people that we were working with, not computer interfaces. People that would check in on us and we could pick up the phone to call. That degree of customer service and customer satisfaction meant a lot for us,” Kieling said, adding that when the company moved to Bridge Bank, “the truth is that our #1 priority was speed, and then once we realized how quickly Bridge Bank could move and did move, that's when we started to appreciate all the other aspects. It felt like our only option, but then when it happened, we realized we’d really lucked out with Bridge Bank.”