Successful Implementations and Continued Product Leadership Bring HealthEdge a Winning 2009

Industry Recognizes HealthEdge’s Patented, Language-Based Technology That Delivers Real-Time Configurability & Seamless ICD-10 Conversion to Payors Seeking a Competitive Edge

BURLINGTON, Mass.--(BUSINESS WIRE)-- HealthEdge, provider of the only modern enterprise-class software platform for healthcare payors, today announced a landmark 2009 with significantly increased revenues and a series of achievements that have distinguished the company as an industry leader and innovator.

“Payors are facing a perfect storm of converging forces that threaten their ability to survive in the rapidly evolving healthcare market unless they can fundamentally change how they do business,” explained HealthEdge CEO Rob Gillette. “Most health insurers are saddled with decades-old, legacy-based technology infrastructures that aren’t up to the task. Our record growth reflects the surging recognition by health insurers and industry analysts that HealthEdge’s one-of-a-kind, language-based technology platform, continuous innovation, winning team and timely new products provide a previously unachievable level of real-time configurability and efficiency that payors are demanding.”

Looming healthcare reform and regulatory changes, the mandated conversion to ICD-10, and growing calls for financial accountability, transparency, responsive customer service and true consumer choice propelled HealthEdge to center stage in 2009. Notable achievements included:

• Increased Market Demand
  Over the past 18 months, HealthEdge has signed and implemented a number of new clients, including BenefitMD (Tacoma, Wash.), Mississippi Administrative Services (Brandon, Miss.), Neighborhood Health Plan of Rhode Island (Providence, R.I.), and SeeChange Health (San Francisco). All of these organizations are recognized leaders and innovators.

• Award-Winning Technology
  HealthRules was voted “Best New Technology” in the insurer category at the 2009 Healthcare IT Summit, an event that brought together Gartner analysts, executives from many prominent healthcare organizations, and a number of leading technology vendors for collaborative discussions related to pressing business and IT issues, best practices, and the latest tools and technology. The winner of the award was selected based on votes from hundreds of senior business and technology executives who attended the Summit. This second Healthcare IT Innovation Award further validates HealthEdge’s ability to develop uniquely powerful, market-changing technology and capabilities that enable payors to easily and cost-effectively transition to the member-centric world of 21^st century healthcare.

• Seamless ICD-10 Conversion
  In 2009, the HealthRules Payor technology platform became the first to fully support ICD-10, including the ability to simultaneously use both ICD-9 and ICD-10 codes. This ensures a problem-free transition on the customer’s timetable, without the need for any configuration changes or downtime.

• Enhanced Customer Service with Benefit Predictor
  The addition of Benefit Predictor to the HealthRules platform transforms the customer service experience for members. With a few keystrokes, a customer service representative can instantly and accurately answer the most complex questions about an individual’s coverage, out-of-pocket expenses, history, wellness incentives, care management programs and more – all specific to that member.
• Strategic Partnerships Expand Value
  As part of its ongoing efforts to enhance the value it provides to its customers, HealthEdge formed strategic alliances with several key partners in 2009, including:
  • iWay Software, a leading provider of enterprise integration tools, which enables HealthEdge’s clients to quickly and cost-effectively integrate their internal systems, partner networks and exchanges with HealthRules, significantly reducing deployment time and costs
  • maxIT Healthcare, a leading healthcare consulting firm, which provides a full range of implementation and integration services for HealthEdge clients, including system installation, configuration, training, data conversion, maintenance and project management
  • Bloodhound Technologies, whose ConVergence Point service offers HealthEdge clients improved claim efficiency, faster issue resolution, greater overpayment savings and superior fraud detection

“We are extremely pleased with our 2009 results, and view this outstanding year as a launching pad for even more impressive accomplishments in 2010 and beyond,” said Ray Desrochers, HealthEdge’s COO. “We are confident that our robust sales pipeline and upcoming product announcements will fuel our continued success as forward-thinking payor organizations turn to HealthEdge to achieve an unprecedented level of business agility and operational efficiency.”

About HealthEdge

HealthEdge® provides the only modern, enterprise-class software platform for healthcare payors. Using the patented HealthRules® software suite, health plans and other payors can respond to business opportunities and market changes within hours rather than the usual months or years, while drastically reducing both IT and operational costs. Leveraging an investment of over $125 million, HealthRules is the most modern, scalable and cost-effective technology in the industry. HealthEdge provides the competitive advantage that enables payors to thrive in the dynamic healthcare environment. For more information, visit http://www.healthedge.com.

For HealthEdge
Lindsey Karberg, 480-664-8412, ext. 13
[email protected]
or
Jan Shulman, 480-664-8412, ext. 12
[email protected]

Source: HealthEdge