Parachute Health provides an e-prescribing platform to order and track durable medical equipment, replacing fax and phone-based workflows. Its service adds transparency to the ordering and tracking process and aims to identify bottlenecks that delay deliveries. The company positions this as a way to improve patient safety and reduce medical expenses from needless hospitalizations. Parachute has scaled rapidly since launching two years ago, reaching 60% of the New York City market and expanding into 20 states. The startup plans to use new funding to expand its medical equipment tracking service to additional U.S. markets. CEO and founder David Gelbard leads the business as it grows adoption among hospitals and providers. Parachute Health is a healthcare technology platform that digitizes the ordering, insurance authorization, and delivery confirmation processes for Durable Medical Equipment (DME) such as oxygen tanks, hospital beds, walkers, and wheelchairs. It integrates directly with Epic and other electronic medical record systems and uses machine learning to ensure compliance with insurance requirements, reduce order errors, and cut claim denials. Parachute says it reduces patient readmissions by 60%, addresses a market where more than 15% of DME orders are never delivered, and shortens delivery times that previously could take up to 21 days to typically three or four days. The company launched in New York City in 2017, completed a beta period, and now covers roughly 60% of the healthcare market in New York while serving more than 100,000 patients and operating in hundreds of facilities across 20+ states. Parachute raised a $5.5 million seed round to fund national expansion and is in the process of raising a Series A to launch additional healthcare products and services. Leadership includes CEO David Gelbard and a team with health and technology backgrounds, including a former Plated CTO and former Uber and Kinsa operations leaders.

Total raised

$6M

Funding rounds

2

Latest round

Seed

Latest activity

Mar 2018