Startup medical practice company receives $40k state loan
Bayview Services Group, an Anne Arundel County startup that provides administrative support to medical practices, has received a $40,000 loan from the Maryland Department of Commerce. The loan, made through the state’s Military Personnel and Veteran-Owned Small Business No-Interest Loan Program, will assist Bayview Services with purchasing computer software and office equipment needed to run the company.
Bayview Services owner Keir Shine saw a need for her company’s services as more and more healthcare plans are purchased online.
“Many practices are struggling to stay in compliance with new healthcare codes and are deciding to close up their business,” said Shine, who is also a veteran of the United States Navy. “We are implementing new technology to save practices time and allow physicians to heal patients without worry. Our goal is to make each individual practice as successful as possible.”
Bayview will offer clients a variety of back office integrated systems and services, such as processing electronic billing, electronic medical record management, assistance with the Health Insurance Portability and Accountability Act (HIPAA), and more. The company anticipates creating new jobs over the next two years.
“Since our veteran loan program began nearly a decade ago, we have been able to provide dozens of veterans and members of the military with the funding needed to start or grow their business and add jobs in the community,” said Commerce Secretary Mike Gill. “We look forward to working with Bayview Services and other veteran-owned businesses to turn innovative ideas into reality.”
“Maryland veterans bring an unparalleled entrepreneurial spirit to the work place. This loan will allow Bayview Services to create jobs and use advanced technologies to provide an important service to the medical industry,” said George Owings III, Secretary of the Maryland Department of Veterans Affairs. “We wish Ms. Shine great success as she grows her business in Maryland.”