Simplee
American developer of health care industry software
From Wikipedia, the free encyclopedia
Simplee is an American software-as-a-service company that develops payment software for the health care industry.[1][2] The company and its products have been featured in several publications including Forbes, HFMA, Modern Healthcare, PaymentsSource, and TechCrunch.[3][4][5]
| |
| Industry | Technology |
|---|---|
| Founded | 2010 |
| Founder | Tomer Shoval, Roberto Rabinovich, Tom Tsarfati |
| Headquarters | , U.S.A. |
Key people | Tomer Shoval, CEO Robert Rabinovich, COO Tom Tsarfati, CTO, Derick Sutton, CFO |
| Website | simplee.com |
History
Early years and initial funding
Simplee was founded by Tomer Shoval who currently serves as the company CEO.[6] In 2009 he went on vacation to Mexico and his entire family got sick.[7] Upon returning to the United States, he received invoices, bills, and insurance statements associated with the trip. Shoval became frustrated with trying to decipher the documents and decided to create a software to manage and track health expenses for both patients and health care providers.[7] He was working at eBay at the time and stepped down to form the company with Roberto Rabinovich and Tom Tsarfati, launching the company in 2010.[7]
Simplee received $1.8 million in angel funding led by Greylock IL and launched its first product in 2011, a free consumer app initially known as Simplee for tracking medical expenses similar to the financial management tools of Mint.com.[5] The product was branded as SimpleeONE, and linked health insurance accounts for easier management of medical bills and payments across providers.[8][9][10]
Enterprise launch and additional funding
In 2012, Simplee launched its enterprise software platform SimpleePAY for health care providers after receiving $6 million Series A investment led by Social+Capital Partnership.[11] SimplePAY was specific for health care providers, allowing patients to view and pay their medical bills online. Simplee raised an additional $10 million in Series B funding led by Nashville-based healthcare investor The Heritage Group in 2013. The same year it partnered with its charter customer, El Camino Hospital.[7]
The company grew its customers in 2014 by adding healthcare providers such as CardinalHealth, Gundersen Health System, LifePoint Health, and Memorial Hermann Healthcare System,[12] the largest health system in Texas.[13][14] Simplee also partnered with ExactTarget, Vantiv, and Wells Fargo the same year.[15]
Products and services
SimplePAY is specific for health care providers, allowing patients to view and pay their medical bills online.[9] In March 2015, it was reported that Simplee was collecting over $1 Million per day through SimpleePAY, with an expectation to collect more than $1 billion by the end of 2015.[16] Modern Healthcare featured Simplee’s partnership with Memorial Hermann in May 2015, in which Memorial Hermann’s PayMyBill technology, powered by SimpleePAY, has seen self-service payments increase by 53% and reduced collection costs by 23%.[14]
In June 2015, Simplee expanded SimpleePay into the Simplee Financial Engagement Platform suite with the launch of two additional products: SimpleeESTIMATE, a cost estimation tool, and SimpleeCREDIT, a consumer-focused financing options system.[17][18]
Awards and recognition
Simplee has been a Webby Award honoree in 2012, 2013, and 2015. It was a winner of a Fierce Innovation Award in 2014 in the revenue cycle category.[19] The same year, the American Hospital Association announced an exclusive endorsement for SimpleePAY.[20]