CEO Shoval on Simplee’s New Error Detection System
Simplee CEO Tomer Shoval spoke with Health 2.0′s Matthew Holt about the error detection feature Simplee just released. The company provides a web-based service that helps people better understand and manage their health care expenses. The new automated error detection system scans explanation of benefits statements (EOBs) and reports possible billing issues.
Shoval said that it recently saved one user almost $1,000. The user was supposed to pay a 10% co-pay for his son’s repetitive medical service, and Simplee detected that he was actually billed 30%. After he pointed out the error, the insurance company gave the man a refund.
“Since then, it happened again, so he saved another 600 bucks. So it shows you that it happens on an ongoing basis,” Shoval said.
Simplee cross references a patient’s health plan information with his EOB. If it finds an error, it marks it in red. If it finds an item that needs review, it’s marked in orange. Green indicates areas for possible savings. For instance, the system might suggest that the patient look into buying a generic form of the prescription drug he’s taking.
Simplee has been building out its system since it closed a round of $1.8 million last year. In May the company partnered with ACS|The HSA Solution, making the service available to ACS’ 800,000 members.