MINNEAPOLIS--(EON: Enhanced Online News)--Evolution1® – the nation’s leading provider of innovative healthcare software and payment solutions that administer and manage consumer directed accounts – today presented Industry Update 2013. The complimentary live webcast, hosted by Jeff Young, chairman and CEO at Evolution1, is an annual exclusive event for Evolution1 Partners and prospects. Together with its Partners, Evolution1 now serves nearly 500 health plans, third-party administrators, financial institutions, and software providers across the country, providing healthcare and other reimbursement account services to more than 80,000 employers and more than 9,500,000 consumers.
“We will continue to lead the industry with our commitment to research and development, our focus on consumers, and our dedication to quality partnerships. It was an honor to dive deeper into those topics with our Partners at Industry Update 2013.”
“No one else in the industry provides the single end-to-end consumer experience that Evolution1 does, no one,” said Young. “We will continue to lead the industry with our commitment to research and development, our focus on consumers, and our dedication to quality partnerships. It was an honor to dive deeper into those topics with our Partners at Industry Update 2013.”
With the mandate from the Patient Protection and Affordable Care Act (ACA) to offer electronic payment options to providers, the need for payment solutions has never been bigger. In response, Evolution1 announced at Industry Update that 1Pay by Evolution1® – a suite of payment solutions that drives maximum efficiency and cost savings – will offer additional capabilities including virtual cards, EFT provider payment networks, and a reimbursement purse to offer maximum choice and flexibility for Partners and ultimately for consumers. More than ever before, the ability to capture claims data has become critical to the success of card programs, and with its patented auto-substantiation capabilities, Evolution1 leads the industry.
The ACA is also driving tremendous change with private and public exchanges or marketplaces. “In order to both protect existing health plan group customers and to capitalize on the defined contribution private insurance exchange opportunities in 2014, we need solutions that go well beyond basics enrollment platforms and legacy consumer directed health account solutions,” said Jeff Bakke, chief strategy officer at Evolution1. “To be successful, it is imperative that health plans, third party administrators, financial institutions – and all healthcare Partners, for that matter – decide what their role is going to be and how they are going to participate in insurance marketplaces and provide solutions that deepen the relationship with customers and members.”
1Plan by Evolution1® – the company’s complete defined contribution solution – remains the leading solution choice for defined contribution Partners by delivering the next generation of consumer directed health in a complete multi-account defined contribution solution. 1Plan supercharges both private and public insurance exchanges with a solution for employers and employees to budget for and select benefits, shop for insurance, and manage premiums and out-of-pocket expenses in a comprehensive, easy-to-use experience. Evolution1 partners with dozens of leading organizations that are offering or developing private exchange solutions for employers and their employees.
Also at today’s Industry Update, Evolution1 highlighted Healthcare Trends Institute, a new educational platform to help employers, third-party administrators, health plans, brokers, banks, payroll providers, consumers, and other stakeholders keep up with the rapidly changing healthcare benefits industry. The Institute is sponsored by Evolution1.
Evolution1 continues to build key relationships, signing multi-year partnerships with a number of large, leading health plans, banks, payroll providers, and third-party administrators that use Evolution1 as their strategic platform of choice. These partnerships solidify Evolution1’s leadership as the company continues towards record growth.
To date in 2013, Evolution1 has received a number of prestigious awards and recognitions, including the Inc. 500|5000, the Marcum Tech Top 40, the Paybefore Awards, and Modern Healthcare’s Healthcare’s Hottest list.
At Evolution1®, we simplify the business of healthcare. We do that through innovative healthcare software and payment solutions that administer and manage consumer directed accounts. But we don’t do it alone. Our network of 500 Partner organizations enables us to deliver our industry-leading solution to 80,000 employer groups and 9,500,000 consumers across the country. Together we take the complexity out of defined contribution, HSAs, HRAs, FSAs, VEBAs, PRAs, wellness plans and transit plans. Created with users in mind, our solutions provide a single end-to-end intuitive user experience that reduces costs, saves time and ultimately simplifies the business of healthcare.