Health Insurance Carriers Move to the Cloud as Softheon Reveals Record Number of ACA Integration and Implementation Deals
STONY BROOK, N.Y., Oct. 24, 2014 /PRNewswire/ -- Softheon, Inc., Softheon today announced that 16 new Health Insurance Carriers, its largest number of new clients, have selected Softheon Marketplace Connector Cloud (MC2) as their ACA integration and implementation platform, within the last 90 days. The company has doubled the number of regional and state based Health Insurance Carriers that represent its Softheon Marketplace Connector Cloud (MC2) client base, compared to the total number in 2014.
Softheon MC2 is a Software-as-a-Service (SaaS) solution that serves as the integration platform between both State and Federally Facilitated Marketplaces, as well as, all existing business processes and IT systems for both Public and Private Exchanges. The Softheon MC2 platform offers State and Federal Exchange Integration, Direct Enrollment, Premium Billing, Edge Server, and Private Exchange solutions. Softheon MC2 is compatible with multiple carrier core systems including TriZetto Facets, QNXT, DST Amisys, HealthEdge, ikaSystems, and EPIC Tapestry.
Eugene Sayan, Founder & CEO of Softheon, stated, "We have significantly reduced ACA integration timelines, guaranteed delivery, and increased our capabilities for both Individual & Family and Small Group exchanges. As a result, the demand for our cloud platform has been ever increasing."
Enabling ACA member and group information to be timely processed, between exchanges and Carrier's existing assets, Softheon has been adopted to drive efficiencies and virtually eliminate all risk associated with public and private exchanges implementations. In 2014 alone, the Softheon MC2 plan management, enrollment and premium billing platform, effectively enrolled and effectuated over 500,000 lives and processed over $300,000,000 in member premiums. Health Republic Insurance and WINhealth are among the new clients.
Softheon cloud provides Carriers with the ability to have marketplace infrastructure and processes up and running in less than 30 days, while minimizing risk and full PPACA regulatory compliance. "We have built the interstate highway system of Exchanges. Carriers can drive their cars and trucks on Softheon, rather than building their own roads to Public and Private Exchange destination," added Sayan.
Softheon is uniquely qualified as the technology platform used by the nation's first full-service state health benefit exchange, since 2008. During the initial testing and implementation of marketplaces, Softheon participated in pilot federal and state programs, including the CMS Direct Enrollment connectivity and carrier wave testing-successfully effectuating marketplace members with multiple carrier core systems. Softheon was also chosen, as the sole vendor, to participate in the CMS Data Baseline Beta Test Program where all Softheon MC2 clients successfully established an enrollment baseline with CMS. Recently an independent research and consulting organization announced Softheon as the "leading Cloud Platform for Public & Private Exchanges."
About Softheon
Empowering the nation's first state health benefit exchange since 2008, Softheon's vision and strategic direction addresses healthcare payer, provider, and government agencies' goal of meeting Affordable Care Act (ACA) milestones. Softheon provides solutions for interacting with Federal and State Health Insurance Exchange (HIX) Marketplaces, while measurably reducing administrative costs, improving member and provider satisfaction, as well as, addressing regulatory compliance challenges in all managed care administrative processes.
Softheon's Marketplace Connector Cloud (MC2) has been trusted by over 40 health plans as an accelerated federal, state, and private exchange integration platform. Softheon MC2 is a Software-as-a-Service (SaaS) solution where insurers pay a one-time activation and ongoing PMPM fees for exchange members only, while eliminating most, if not all, risks associated with ACA compliance of 2014 enrollment and other mandates.
To find out more about Softheon, visit www.softheon.com.
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SOURCE Softheon, Inc.
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