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Key people at Parasail Health.
Parasail Health was founded in 2013 by Todd Kimmel (Co-Founder & Chairman).
Parasail Health provides a financial platform designed to streamline medical expense management for patients and enhance collection rates for healthcare providers. The company develops patient-friendly payment solutions, including zero-interest payment plans and financing options, to make out-of-pocket healthcare costs more manageable. Their technology integrates into the patient billing process, simplifying financial planning and payment execution for medical treatments.
Todd Kimmel founded Parasail Health in the early 2010s, recognizing the increasing burden of out-of-pocket medical expenses on individuals and the collection challenges faced by healthcare providers. The insight centered on bridging the gap between patients' need for affordable payment options and providers' need for efficient revenue cycles, leading to the development of a system that benefits both parties.
The company primarily serves patients seeking flexible payment options for their medical care and healthcare organizations aiming to improve financial accessibility and ensure timely reimbursement. Parasail Health envisions a future where financial considerations no longer present a barrier to necessary medical treatment, fostering a more transparent and manageable healthcare payment ecosystem.
Key people at Parasail Health.
Parasail Health is a healthcare fintech company that builds patient financing and payment solutions designed to make medical bills affordable and transparent. It serves both healthcare providers and patients by offering fixed-rate patient loans sourced from top online lenders, enabling patients to comparison shop for payment options without impacting their credit. Parasail’s products include patient loan apps, cost estimators, and integrations with crowdfunding and patient advocacy partners, all aimed at reducing the financial burden of healthcare and improving provider revenue collection. The company’s mission is to humanize the healthcare payment system, allowing doctors and patients to focus more on treatment rather than payment logistics[1][3][4].
Founded by Adam Tibbs and others, Parasail Health emerged from recognizing the growing financial strain on patients due to rising out-of-pocket healthcare costs and the antiquated payment models in the U.S. healthcare system. Between 2011 and 2014, patient payment responsibilities increased dramatically, highlighting the need for better financial solutions. Early traction came from launching innovative products like the first patient financing open API for healthcare, which allowed broader access to financing options without transaction fees, helping both providers and patients immediately. The company has since raised significant seed funding and lending capital commitments to expand its product suite and enterprise reach[4][6].
Parasail Health rides the trend of increasing patient financial responsibility in healthcare, a market force driven by rising deductibles and out-of-pocket costs. The timing is critical as healthcare providers face growing challenges in collecting payments directly from patients, necessitating innovative fintech solutions. By modernizing patient financing with transparent, technology-driven tools, Parasail influences the broader healthcare ecosystem by improving financial access for patients and revenue cycle efficiency for providers. Its open API approach fosters collaboration across the healthcare payment landscape, accelerating adoption of patient-centric financial products[4].
Looking ahead, Parasail is poised to expand its influence by deepening integrations with healthcare providers and broadening its product offerings to cover more aspects of patient financial care. Trends such as increasing healthcare consumerism, digital health adoption, and regulatory focus on price transparency will shape its trajectory. Parasail’s commitment to building a trusted, patient-first financial brand positions it well to become a foundational player in healthcare payment innovation, potentially transforming how patients and providers manage medical expenses in the coming decade[4][6].
Parasail Health was founded in 2013 by Todd Kimmel (Co-Founder & Chairman).
