MEQUON, Wis., Jan. 5, 2017 /PRNewswire/ -- SKYGEN USA, a collection of 21st century benefit management solution companies, today announced that 2016 was a watershed year for the organization both in terms of sales and the introduction of several new innovations in the way it serves the $779 billion health and medical insurance industry. The organization currently partners with clients operating in more than 100 markets serving 28 million member lives on its own technology platform and 11 million member lives through its outsourcing solutions.
SKYGEN USA's year-over-year revenue grew by 24 percent in 2016. This increase was driven primarily by SKYGEN USA's aggressive approach to delivering 21st century technology and benefit management solutions that solve the challenges of today's commercial and government payers as well as healthcare providers and the members/patients they serve.
"Many health insurance payers' core technologies are now well over 30 years old," said Craig Kasten, chairman and co-founder of SKYGEN USA. "They were implemented before smartphones and tablets were on the drawing board, and even before computers became a fixture in most homes and businesses. SKYGEN USA is filling gaps for these organizations by bringing modern technologies as well as in-depth benefit management expertise to help them compete in this very different world, and transform themselves into 21st century cyber benefit organizations."
The focus on defining what is required for payers to become cyber benefits organizations was a key initiative for SKYGEN USA in 2016. A cyber benefits organization is one that transforms the current health benefit landscape by offering an information-rich environment connecting all patrons while delivering benefits faster and at substantially lower costs than traditional approaches. While appropriate for all types of payers, managed care organizations (MCOs) for government programs are likely to be among the early adopters to seize the opportunities for improvement cyber benefits bring. MCOs are under increasing pressure to reduce costs and improve efficiency so more benefits can be delivered to more members without an increase in taxpayer funding.
The year 2016 saw major changes in SKYGEN USA's internal structure that were put in place to enhance its service to clients. One of the most significant was the building out of SKYGEN USA's Legal and Compliance practice. Steven J. Berryman was hired as chief legal officer to lead the practice, which will be charged with helping clients navigate the increasingly complex regulatory environment.
Additional 2016 highlights include:
- The May 2016 launch of SKYGEN USA's new Client Relationship Model, which added a relationship manager and service manager to every client team to ensure the delivery of a superior client experience on an ongoing basis. The new model enables the organization to take a more holistic, client-centric approach to the way it works with clients while ensuring clients are placed at the center of SKYGEN USA's business philosophy.
- Establishment of a pilot project for Wonderbox Technologies to create a Credentialing Service under the banner of the American Dental Association (ADA). The service was designed to reduce the administrative burden for payers and dentists associated with dental provider credentialing. The project demonstrated the effectiveness of using technology to centralize and consolidate major initiatives rather than pursuing them in multiple smaller units, establishing a blueprint for the future.
- The January 2016 launch of Scion Dental's Dental Administration Transformation Program, which was charged with creating additional strategies to ensure each of the Medicaid dental programs it manages is as efficient as possible, and that the limited funding available to those programs is stretched to provide more benefits to more people within the nation's most vulnerable population.
- Wonderbox Technologies releasing three upgrades (versions 6.1, 6.2, and 6.3) of its flagship Enterprise System benefit management platform.
- Wonderbox Technologies being named to the prestigious Inc. 5000 list of fastest-growing private companies.
- Wonderbox Technologies and Vestica Healthcare being named as Milwaukee Journal Sentinel 2016 Top Workplaces.
In keeping with SKYGEN USA's focus on helping payers prepare for the challenges of the future as well as the present, the company also released its predictions around where commercial and government-based health, dental, and vision insurance is headed in 2017:
- Technology, especially automation, will play an increasingly larger role in the way benefits are delivered, both in terms of transparency and speed. For the first time, many patients will know how much they owe before they leave the physician's office rather than being surprised later by the cost. That will have a significant impact on provider cash flow and patient satisfaction.
- The focus on bringing jobs back to America will provide a spotlight on how the high cost of healthcare and health insurance affects American companies' ability to compete throughout the world. Experts will begin to look beyond salary costs to factor in the effect of health insurance on overall workforce costs.
- More emphasis will be paid on how to manage an increasingly aging population, especially given future advances in keeping people alive. It's conceivable that the first person to live to 200 has already been born. If true, it will have a significant impact on health insurance. Payers will need to start focusing on ways to keep this population healthier and more active while adjusting their actuarial models to accommodate those significantly longer lives.
- The so-called cancer moon shot will make tremendous progress in 2017. Researchers have already realized they've been trying to solve the wrong problem all along, focusing on drugs rather than the body's own healing capabilities. They are now developing new therapies which could make cancer a non-factor in 10 years.
- The current thinking in the U.S., that healthcare must be expensive to be good, will come under heavy fire. Government and commercial organizations will place the ROI under closer scrutiny in order to drive better outcomes at lower costs.
"Today there is even more uncertainty in an already volatile health insurance industry," said Greg Borca, co-founder and owner of SKYGEN USA. "It points to the need for payers to have the maximum flexibility in their technology as well as benefit design in order to react quickly to minimize risk and take advantage of market opportunities. The organization we have built with SKYGEN USA, and the organization we are continuing to build through our latest innovations, has the knowledge and capacity to lead payers through these turbulent times and help them thrive. No matter what changes may occur, we are confident that 2017 will be another outstanding year for our clients and our business."
About SKYGEN USA
SKYGEN USA is a collection of benefit solution companies that brings together a distinguished mix of next-generation benefit management and technology tools for healthcare organizations. Business units under the SKYGEN USA brand include Wonderbox Technologies, Scion Dental, Vestica Healthcare, American Therapy Administrators, Ocular Benefits and now, Hylis Pharmacy Solutions. The joining of these respected organizations under the SKYGEN USA umbrella enables them to drive process improvements and dramatically reduce the cost of delivering benefits in an advancing healthcare economy. Payers may select the comprehensive solution or individual offerings to fit their requirements. For more information, please go to www.skygenusa.com.
For media inquiries, please contact:
Director of Marketing, SKYGEN USA
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SOURCE SKYGEN USA