Paratus

Healthcare Revenue Cycle Managementparatusllc.org

Company typePrivate
Founded-
HeadquartersBrea, United States
Headcount51–100
GTM typeB2B
OfferingServices

Paratus firmographics

Firmographics

Name: Paratus
Legal name: Paratus LLC
Website: https://paratusllc.org
Company type: Private
Operating status: Operating
Headcount range: 51–100 employees
Ownership category
akta.pro rank

Paratus industry classification

Industry

Product category: Healthcare Revenue Cycle Management
NAICS: Pharmacy Benefit Management and Other Third Party Administration of Insurance and Pension Funds (524292), Claims Adjusting (524291)
SIC: Accident & Health Insurance (6321), Services-Computer Programming, Data Processing, Etc. (7370), Services-Health Services (8000)
akta.pro primary industry: Third-Party Administrator (TPA) & Program Administrator Services (FSAJALAF)
akta.pro secondary industry: Medicare Plan Administration & Third-Party Services (TPA/BPO, Enrollment, Billing) (FSAIAGAI)

Keywords

Third party liability recovery
Healthcare revenue cycle
Claims recovery services
MSP compliance
Hospital revenue management

Where Paratus is headquartered

Location

Headquarters

HQ city: Brea
HQ country: United States
HQ region: North America

Offices4 records

Markets served

Paratus business model

Business model

GTM type: B2B
Offering type: Services
Cost components: Personnel, Technology or R&D, Operations, Marketing or Sales

Revenue model

Contingency Fee - TPL Recovery Services: Performance-based contingency fee structure where Paratus takes a percentage of actual recoveries. The company explicitly states 'we win when you win' philosophy. No charge for non-viable accounts that are vetted and returned within 48 hours. This aligns incentives between Paratus and hospital clients.

Pricing tiers

Model	Billing	Price
Transaction based/ take rate	Pay-as-you-go	Percentage of recovery-based pricing aligned to client success

Go-to-market motion1 record

Distribution channels3 records

Marketing channels3 records

Paratus product offering

Product offering

Core offering

Paratus provides specialized Third Party Liability (TPL) recovery services for hospitals and health systems, recovering revenue from auto insurers and other liable parties in motor vehicle accident claims while ensuring Medicare Secondary Payer (MSP) compliance. The company combines proprietary TPL Workflow Automation software with expert-led processes delivered through dedicated Client, Patient, and Attorney portals on a contingency-fee basis, helping hospitals capture revenue that general RCM vendors and law firms typically overlook.

Product overview

Paratus offers a unified Third Party Liability (TPL) recovery platform consisting of TPL Workflow Automation as the core engine, supported by three integrated portals: Client Portal for hospital revenue cycle teams, Patient Portal for accident victims, and Attorney Portal for plaintiff's bar coordination. The platform processes over $4B in claims and delivers 1.5-3x recovery lift through proprietary software, machine learning, and expert-led processes.

Differentiator

Problem solved

Functional benefit

Products and services

TPL Workflow Automation Central proprietary workflow automation engine that streamlines and optimizes Third Party Liability recovery processes for hospitals, with machine learning and automated distribution of communications. Has processed over $4B in claims.
Complex Claims Recoveries (TPL Recovery Services)
Client Portal
Patient Portal
Attorney Portal

Quantifiable outcome

2.5-3x recovery lift from hospital's TPL portfolio
+5 more outcomes

Companies that use Paratus

Customer profile

Named customers1 record

Segments1 record

Ideal customer profiles1 record

Paratus technology and API

Technology

Technology focussed Yes

API detail

Has API: No
API docs
API detail

Core technology

AI maturity

App detail

Integration3 records

AI capability3 records

Feature6 records

Paratus partnerships and signals

Strategic signal

Scale indicators7 records

Recent moves1 record

Expansion highlights4 records

Paratus competitors and assessment

Company assessment

Broad incumbents

Availity: Healthcare information network focused on payer-provider data exchange, eligibility, and prior authorization. Comparable to Paratus in serving hospital revenue cycle operations, but at a much broader scope than TPL-only recovery.
R1 RCM: Large enterprise RCM services and technology company serving hospital systems with end-to-end revenue cycle outsourcing. Comparable to Paratus as a competitor to hospital internal teams for revenue recovery work, though R1 is a full-service RCM outsourcer rather than a TPL specialist.
Experian Health: Healthcare division offering patient access, claims management, and revenue cycle analytics to hospital systems. Comparable as an enterprise RCM vendor to the same hospital buyers Paratus targets, though it is a broad incumbent rather than a TPL specialist.
Change Healthcare (Optum): Major healthcare payments and RCM platform acquired by Optum. Comparable to Paratus in claims processing workflows and enterprise hospital customers, but operates across the full revenue cycle rather than focusing on TPL recoveries.
Waystar: Large healthcare revenue cycle management platform serving hospitals with claims management, denial management, and patient estimation. Comparable to Paratus as an enterprise RCM buyer relationship, though Waystar is a broad-stack incumbent rather than a TPL specialist.

Emerging players

AKASA: AI-driven revenue cycle automation platform for health systems. Comparable to Paratus in applying machine learning to hospital RCM workflows and targeting enterprise hospital systems, though AKASA focuses on broader automation rather than TPL.
Cedar: Patient financial experience platform for healthcare providers covering billing, payments, and engagement. Comparable to Paratus in addressing hospital revenue cycle workflows, though Cedar focuses on the patient-pay side rather than TPL.
Olive AI: Healthcare automation company deploying AI across hospital revenue cycle and operational workflows. Comparable to Paratus in bringing automation to enterprise hospital back-office functions, including some claims-adjacent processes.

Others

Health Catalyst: Healthcare data and analytics platform used by health systems for performance improvement, including revenue cycle analytics. Comparable to Paratus in serving enterprise hospital systems with data-driven decision support, though more analytics-led than claims recovery.

Direct peers

FinThrive: Healthcare revenue cycle management technology platform covering claims management, reimbursement, and revenue integrity for hospitals. Comparable to Paratus as a hospital-focused RCM technology vendor with overlapping claims-management capabilities, though FinThrive is a much broader platform.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

Paratus compliance and trust

Trust signal

Compliance3 records

Paratus financial estimates

Financial estimate

Revenue estimate

Valuation estimate

Paratus leadership team

Management profile

Number of profiles

Profiles1 record

Paratus funding detail

Funding detail

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

Paratus M&A and investment

M&A and investment

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Paratus

What does Paratus do?

Is Paratus a public or private company?

Paratus is a private company. It is classified as unknown and is currently operating.

When was Paratus founded?

Paratus was founded in -1. It employs 51 to 100 people.

Where is Paratus based?

Paratus is headquartered in Brea, United States, in the North America region.

How does Paratus make money?

One revenue line is on record: contingency Fee - TPL Recovery Services.

Who are Paratus's main competitors?

Broad incumbents on record are Availity, R1 RCM, Experian Health, Change Healthcare (Optum) and Waystar. Emerging players are AKASA, Cedar and Olive AI. Health Catalyst is listed as an others. FinThrive is listed as a direct peer.

Does Paratus have an API?

No public API is recorded for Paratus.

What industry is Paratus in?

Paratus's product category is Healthcare Revenue Cycle Management. Its primary akta.pro industry code is FSAJALAF, Third-Party Administrator (TPA) & Program Administrator Services, with a secondary code of FSAIAGAI, Medicare Plan Administration & Third-Party Services (TPA/BPO, Enrollment, Billing). Its NAICS code is 524292 and its SIC code is 6321.