PALO ALTO, CA -- (Marketwired) -- 09/24/13 -- Simplee®, an enterprise cloud platform for patient payments, today announced that it has raised $10 million in Series B funding led by Heritage Group with participation from existing investors, The Social+Capital Partnership and Greylock IL. In addition, Simplee announced that Emergency Medicine Associates (EMA), the leading provider of emergency room services in the D.C. metropolitan area, will deploy the Simplee®PAY platform.
Simplee is changing the way patients pay medical bills. The Simplee®PAY enterprise solution empowers healthcare providers with a single, modern, consumer-focused platform to engage patients and transform out-of-pocket payment into a trusted, self-service experience. Providers use Simplee®PAY to reduce reliance on expensive collection methods, optimize for point-of-service (POS) payment, and improve patient satisfaction.
"We are thrilled by the scale of opportunity before us," said Tomer Shoval, Simplee co-founder and CEO. "By modernizing the patient billing process, Simplee positively impacts a provider's bottom line while improving the patient's overall experience. This strategic investment by Heritage Group is strong market validation for our Simplee®PAY offering. In parallel, we look forward to working with innovative partners like EMA to demonstrate the transformative potential of engaging patients in a clear and convenient payment process."
In conjunction with the investment, Paul Wallace, managing director at Heritage Group, has joined Simplee's board of directors.
"At Heritage Group, we focus on identifying innovative solutions to critical issues faced by our strategic investors," Wallace said. "Rising patient responsibility is a significant challenge for many of our large hospital investors. The Simplee team is applying unique consumer engagement capabilities and deep technology expertise to generate impressive results. We are seeing strong demand for their solutions, and are excited about working together to build a market leading company."
Simplee will use the new funding to grow the team, continue investments in innovation and ramp-up sales and marketing activity to meet the growing Simplee®PAY demand.
EMA has a history of excellence in the delivery of emergency room and hospital services for the Washington, D.C. metropolitan area. One of the key satisfaction barriers facing its patients today is the billing and payment process. Always seeking new ways to improve the lives of patients, EMA chose Simplee for its unique expertise and focus on engaging consumers. In doing so, EMA is joining the ranks of leading healthcare providers now turning to Simplee to address the shortcomings of traditional healthcare payment solutions.
"Paying a medical bill is an important part of overall patient satisfaction -- yet often overlooked," said Donald Infeld, M.D., President of Emergency Medicine Associates. "We see the Simplee®PAY platform as a major leap forward in creating deeper patient engagement and ultimately building trust in the patient billing and payment process."
Since its launch in 2011, Simplee has managed more than $2 billion in patient medical expenses and processes millions in patient payments each month across thousands of medical providers. For more information on Simplee®PAY, please visit http://www.simpleepay.com/.
Simplee® is changing the way patients pay medical bills. Headquartered in Palo Alto, Calif., Simplee bridges the gap between consumers, patients and medical providers by transforming out-of-pocket payment into a trusted, self-service experience.
Simplee®PAY is an enterprise cloud platform for patient payments that empowers healthcare providers to reduce reliance on expensive collection methods, optimize for POS and dramatically improve patient satisfaction. Simplee®Wallet is a complementary service for consumers that creates an easy, centralized place to pay all family medical bills based on their insurance accounts.
For more information on Simplee, visit www.simplee.com.
Emergency Medicine Associates (EMA) is a regional group of Physicians and Mid-Level Providers who practice at hospitals in Maryland, Virginia, the District of Colombia and West Virginia. Formed in 1971, EMA is the largest provider of Emergency Medicine Services in the region (by hospital affiliation) and is widely regarded as an exceptional provider of these services. EMA also provides Pediatric Emergency Medicine, Pediatric Hospitalist, Adult Hospitalist, Critical Care and Neonatal coverage at several hospitals in the region. Our Practice Management and Support Team is located in Germantown, Maryland.
For more information on EMA, visit www.emaonline.com.
About Heritage Group
Heritage Group is a Nashville-based, venture capital firm with over 25 years of experience financing, operating and advising companies at all stages. Created by a diverse group of the nation's leading healthcare services firms, the Heritage Healthcare Innovation Fund is a $167M strategic initiative focused on investments in businesses that improve the delivery of healthcare services.
For more information on Heritage Group, visit www.heritagegroupusa.com.