STONY BROOK, N.Y., June 29, 2017 /PRNewswire/ -- Softheon, Inc., a leader in cloud-based health insurance marketplace integration and remediation, today announced the launch of its Medicaid Administration Cloud solution, designed specifically for Medicaid health plans' information technology and operational needs. The company will showcase this offering at the Association for Community Affiliated Plans' (ACAP) annual CEO Summit, being held on June 29-30, in Washington, D.C.
This product launch comes only days following the release of the Senate GOP Plan, the Better Care Reconciliation Act of 2017, which proposes to close Medicaid Expansion by 2024. Despite the uncertainties that reside in the market, Softheon is uniquely qualified to partner with Medicaid Health Plans to provide the front and back-end technology to reduce operational costs by more than 80%. Softheon can also reduce the operational costs of managing a Medicaid Expansion program, which on average equates to $29 per member per month (PMPM).
Softheon's Medicaid Administration Cloud solution has been utilized by payers participating in multiple Medicaid Expansion State programs, including Indiana HIP 2.0, New Hampshire's Premium Assistance Program, and Arkansas' Private Option. To date, 6 of the 32 states and the District of Columbia have implemented Medicaid expansion through a Section 1115 State Innovation Waiver. An additional 24 states have been granted Section 1115 Waiver approval, according to the Centers for Medicare and Medicaid Services (CMS).
The unveiling of Softheon's Medicaid Administration Cloud will take place at table #14. Softheon is an ACAP Preferred Vendor for Exchange Integration, Individual & Group Enrollment and Premium Billing, and Individual & Group Private Exchange Portal and currently serves multiple ACAP members. Most recently, the company was named the 18th largest healthcare IT vendor by Healthcare Informatics.
The ACAP CEO Summit gathers CEOs and health plan executives from over 70 safety net health plans, serving the Medicaid, Medicare, and Affordable Care Act market. To learn more about ACAP's CEO Summit, visit http://www.communityplans.net/event/ceo-summit-2017/.
The Association for Community Affiliated Plans (ACAP) is a national trade association which represents not-for-profit Safety Net Health Plans. Collectively, ACAP plans serve more than seventeen million enrollees, representing nearly half of all individuals enrolled in Medicaid managed care plans. For more information please visit: http://www.communityplans.net.
At Softheon we strive to create simple solutions to complex problems. Our innovative and easy-to-use products have revolutionized the way everyday people control their healthcare needs. We played a critical role in building the nation's first state health benefit exchange in 2008. Now, we are proud and privileged to be trusted by 37% of healthcare payers to manage 24% of HIX memberships every day. We have been recognized as a leading Software-as-a-Service (SaaS) & Business-Process-as-a-Service (BPaaS) platform by IDC, AHIP, ACAP and HCEG. Our vision is to empower state based marketplaces, healthcare payers, provider sponsored health plans, employers, and brokers to provide the ultimate member experience with our commercial off-the-shelf solutions delivered in under 90 days.