Simplee

{{Short description|American developer of health care industry software}}

{{Infobox company

| name = Simplee

| logo = File:Simplee_Logo.jpg

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| industry = Technology

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| founded = 2010

| founder = Tomer Shoval, Roberto Rabinovich, Tom Tsarfati

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| hq_location_city = Palo Alto, California

| hq_location_country = U.S.A.

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| key_people = Tomer Shoval, CEO
Robert Rabinovich, COO
Tom Tsarfati, CTO,
Derick Sutton, CFO

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| website = [https://simplee.com/ simplee.com]

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}}

Simplee is an American software-as-a-service company that develops payment software for the health care industry.{{cite news|title=Apps, websites, even CDs can help keep you in control of your money|url=https://www.bostonglobe.com/business/2015/04/11/new-ways-manage-your-money/gIQhM73bjn4pxZC0xYlSnJ/story.html|accessdate=4 May 2015|publisher=The Boston Globe|date=12 April 2015}}{{cite news|last1=Shontell|first1=Alyson|title=When You Wake Up Hungover At SXSW, This Startup and Its Lifeguards Will Nurse You Back To Health|url=http://www.sfgate.com/news/article/When-You-Wake-Up-Hungover-At-SXSW-This-Startup-3529136.php|accessdate=4 May 2015|publisher=San Francisco Chronicle|date=28 February 2012}} The company and its products have been featured in several publications including Forbes, HFMA, Modern Healthcare, PaymentsSource, and TechCrunch.{{cite news|last1=Robehmed|first1=Natalie|title=Up-and-comers: Meet Three Organizations Changing Healthcare Forever|url=https://www.forbes.com/sites/natalierobehmed/2013/10/31/up-and-comers-meet-three-organizations-changing-healthcare-forever/|accessdate=26 June 2015|work=Forbes}}{{cite web|last1=Reutzel|first1=Bailey|title=Simplee Seeks to Improve the Health of Medical Bill Payments|url=http://www.paymentssource.com/news/technology/simplee-seeks-to-improve-the-health-of-medical-bill-payments-3014059-1.html|website=Payment Source|accessdate=26 June 2015}}{{cite news|last1=Empson|first1=Rip|title=Simplee Combines Mint.com And PayPal To Bring Medical Bill Payment, Management To Your Smartphone|url=https://techcrunch.com/2013/04/19/simplee-combines-mint-com-and-paypal-to-bring-medical-bill-payment-management-to-your-smartphone/|accessdate=4 May 2015|publisher=TechCrunch|date=19 April 2013}}

History

=Early years and initial funding=

Simplee was founded by Tomer Shoval who currently serves as the company CEO.{{cite news|last1=Gooch|first1=Kelly|title=What does the perfect hospital bill look like?|url=http://www.fiercehealthfinance.com/story/how-one-hospital-system-transformed-patient-collections-improved-satisfacti/2015-05-12|accessdate=28 May 2015|publisher=Becker Hospital Review|date=29 April 2015}} In 2009 he went on vacation to Mexico and his entire family got sick.{{cite news|last1=Empson|first1=Rip|title=With $3B Under Management, Simplee Grabs $10M To Carry Medical Payments Into The Smartphone Era|url=https://techcrunch.com/2013/09/24/with-3b-under-management-simplee-lands-10m-to-bring-medical-bill-payments-into-the-smartphone-era/|accessdate=4 May 2015|publisher=TechCrunch|date=24 September 2013}} 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. 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.

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. The product was branded as SimpleeONE, and linked health insurance accounts for easier management of medical bills and payments across providers.{{cite news|last1=Iozzio|first1=Corinne|title=A system for spotting bad medical bills|url=http://fortune.com/2015/02/24/system-bad-medical-bills/|accessdate=4 May 2015|publisher=Fortune|date=24 February 2015}}{{cite news|last1=Hannum|first1=Kristen|title=Working for health insurance?|url=http://www.catholicsentinel.org/main.asp?SectionID=2&SubSectionID=35&ArticleID=29000|accessdate=4 May 2015|publisher=Catholic Sentinel|date=2 May 2015}}{{cite news|last1=Newman|first1=Kira M.|title=Manage Your Medical Bills While Helping Charities with Simplee|url=http://tech.co/simplee-2011-11|accessdate=4 May 2015|publisher=Tech.co|date=29 November 2011}}

=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.{{cite news|last1=Rauber|first1=Chris|title=Medical billing website Simplee nabs $6M venture capital infusion|url=http://www.bizjournals.com/sanfrancisco/news/2012/05/14/medical-billing-website-simplee-nabs.html|accessdate=4 May 2015|publisher=San Francisco Business Times|date=15 May 2012}} 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.

The company grew its customers in 2014 by adding healthcare providers such as CardinalHealth, Gundersen Health System, LifePoint Health, and Memorial Hermann Healthcare System,{{cite news|last1=MacDonald|first1=Ilene|title=How one hospital system transformed patient collections, improved satisfaction|url=http://www.fiercehealthfinance.com/story/how-one-hospital-system-transformed-patient-collections-improved-satisfacti/2015-05-12|accessdate=28 May 2015|publisher=Fierce Health Finance|date=12 May 2015}} the largest health system in Texas.{{cite news|last1=Brino|first1=Anthony|title=Memorial Hermann says risk pays off as ACO revenue rises|url=http://www.healthcarefinancenews.com/news/memorial-hermann-says-risk-pays-aco-revenue-rises|accessdate=4 May 2015|publisher=Healthcare Finance|date=22 April 2015}}{{cite news|last1=Kutscher|first1=Beth|title=Hospitals turn to friendlier tools to collect unpaid bills|url=http://www.modernhealthcare.com/article/20150516/MAGAZINE/305169974/new-friendlier-ways-to-collect-unpaid-bills|accessdate=28 May 2015|publisher=Modern Healthcare|date=16 May 2015}} Simplee also partnered with ExactTarget, Vantiv, and Wells Fargo the same year.{{cite web|title=Innovation Comes to Healthcare Payments|url=http://www.pymnts.com/in-depth/2014/simpleepay-making-healthcare-billing-a-beautiful-thing/#.VY3p9Ub0eXc|website=PYMNTS|accessdate=26 June 2015}}

Products and services

SimplePAY is specific for health care providers, allowing patients to view and pay their medical bills online. 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.{{cite news|last1=Williams|first1=David E.|title=Why one online billing company's win is an even bigger victory for healthcare|url=http://medcitynews.com/2015/03/one-online-billing-companys-win-even-bigger-victory-healthcare/|accessdate=4 May 2015|publisher=Med City News|date=19 March 2015}} 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%.

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.{{cite web|last1=Palardy|first1=Carrie|title=Simplee releases patient-centered revenue cycle tools|url=http://www.beckershospitalreview.com/finance/simplee-releases-patient-centered-revenue-cycle-tools.html|website=Beckers Hospital Review|accessdate=29 June 2015}}{{cite web|last1=Kutscher|first1=Beth|title=High-deductible plans change how hospitals interact with patients|url=http://www.modernhealthcare.com/article/20150624/NEWS/150629941|website=Modern Healthcare|accessdate=29 June 2015}}

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.{{cite web|title=About Us|url=http://www2.simplee.com/about-us|website=Simplee official website|accessdate=4 May 2015}} The same year, the American Hospital Association announced an exclusive endorsement for SimpleePAY.{{cite web|title=Innovation Comes To Healthcare Payments|url=http://www.pymnts.com/in-depth/2014/simpleepay-making-healthcare-billing-a-beautiful-thing/#.VUgHK5P0eXc|website=Pymnts.com|accessdate=4 May 2015}}