Infosys Launches Health Insurance Exchange Platform Cost Effective Solution for States Which Meets Federal Standards and Reduces Administrative Burden on Payers
FREMONT, California, June 15, 2011 /PRNewswire/ --
Infosys (NASDAQ: INFY) today announced the availability of Infosys Health Benefit Exchange, a cost effective solution designed to help states set up the insurance exchanges mandated in the Affordable Care Act (ACA). Infosys Health Benefit Exchange allows payers to market plans more efficiently and offers the ability to utilize exchanges to get fast, personalized quotes, to more than one hundred million people. Users also have access to insurance-related tools such as real-time eligibility verification and enrollment, cost-of-coverage calculators, and tax-deferred savings accounts and other support services designed to expedite and simplify finding, purchasing, and managing the most appropriate plan.
Highlights / Key Facts
- An additional 30 million Americans are set to be covered under the ACA, and millions more are expected to use the state exchanges to compare and enroll in health insurance options. Infosys Health Benefit Exchange integrates insurance, clinical and financial data with sophisticated and customizable rule engines that support new regulations and the complex insurance market, going beyond required functionality to ensure value as health reform rolls out and new technologies are put into place to support care and coverage. These include:
- Benefit Management Language (BML): Unique to Infosys Health Benefit Exchange, the BML aims to standardize the structure of benefit packages across participating carriers, which will allow for efficient searches and "apples to apples" comparison for users.
- Clinical data-driven recommendation engine: The recommendation engine leverages clinical data repositories, clinical decision support systems and/or data gathered during plan selection and enrollment to recommend suitable plans for users. All clinical data are provided or authorized by the user, and the privacy of any personal information is safeguarded.
- Infosys Health Benefit Exchange will also offer educational features about specific insurance topics for both patients and benefit administrators. Social media tools will give users the ability to create and join communities where various regulations and conditions can be discussed.
- Eric Paternoster, CEO, Infosys Public Services, Inc.: "Rising health care costs is a major concern for consumers across global markets. At Infosys we believe in developing people centric technology which aims at making healthcare affordable. Infosys Health Insurance Exchange Platformis secure, and comprehensive. The solutions will serve individual state constituents' and carriers' unique needs as well as provide employers and individuals to access affordable insurance"
About Infosys Public Service
Infosys Public Services is a subsidiary of Infosys Technologies Ltd. Many of the world's most successful organizations rely on the 130,000 people of Infosys to deliver measurable business value. Infosys provides business consulting, technology, engineering and outsourcing services to help clients in over 30 countries build tomorrow's enterprise. For more information about Infosys (NASDAQ: INFY), visit http://www.infosys.com
Infosys Safe Harbor
Statements in connection with this release may include forward-looking statements within the meaning of US Securities laws intended to qualify for the "safe harbor" under the Private Securities Litigation Reform Act. These forward-looking statements are subject to risks and uncertainties including those described in our SEC filings available at http://www.sec.gov , including our Annual Report on Form 20-F for the year ended March 31, 2011, and our other recent filings, and actual results may differ materially from those projected by forward-looking statements. We may make additional written and oral forward-looking statements but do not undertake, and disclaim any obligation, to update them.
Scott Arenson, GolinHarris, +1(202)725-0408
SOURCE Infosys Technologies Ltd