SOURCE: HealthEdge

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November 09, 2010 10:14 ET

HealthEdge to Discuss Market Forces Driving Wholesale Replacement of Core Payor Systems at 2010 Healthcare IT Summit

Presentation to Detail How Next-Generation Technology Will Enable Payors to Achieve Sustainable Competitive Advantage

BURLINGTON, MA--(Marketwire - November 9, 2010) -  HealthEdge, provider of the only modern, enterprise-class software platform for healthcare payors, today announced that COO Ray Desrochers and CTO Matt Kuntz, Ph.D. will present "Surviving the Perfect Storm: The Need For 21st-Century Healthcare Technology" at the invitation-only Healthcare IT Summit, Nov. 14-16, 2010, at the Gaylord National Resort Hotel and Convention Center in National Harbor, Md. They will describe how health reform mandates, fast-approaching HIPAA 5010 and ICD-10 compliance deadlines, and unremitting pressure to control costs and increase quality and performance will impact every aspect of a payor's business and IT infrastructure. 

According to Desrochers, "Payor organizations are at a critical juncture. Those that view this time of unprecedented change as an opportunity to create a sustainable strategic advantage by investing in proven, next-generation technology will have the tools needed to achieve ongoing success. Those that remain shackled by archaic systems will be at a disadvantage when faced with the continuing need to innovate and respond to constantly evolving market demands."

Desrochers will detail many of the challenges facing today's healthcare payors and then describe how language- and rules-based technology solutions can provide these organizations with the agility required to seamlessly accommodate new legislative mandates and regulations, quickly take advantage of business opportunities, eliminate costly manual processing, and deliver significantly enhanced levels of customer service. Kuntz will then demonstrate how payors using these new platforms can immediately address emerging needs and market changes while enjoying new levels of business transparency and seamlessly connecting everyone involved in the healthcare delivery cycle.

Most health insurers currently rely on 20- to 30-year-old technology solutions, along with a large number of difficult to maintain desktop systems that have been built to handle business needs that their legacy infrastructures were unable to accommodate. Desrochers and Kuntz will outline the true costs of relying on these outdated systems, including:

  • The inability to quickly take advantage of new market opportunities
  • The need to rely on expensive, error-prone manual processes and workarounds that consume approximately 12 to 22 cents of every premium dollar
  • High administrative costs (around 20 percent compared to 6 percent in the hotel industry and 12 to 13 percent for airlines)
  • Reduced productivity
  • Poor customer service
  • A lack of business transparency due to data assets that are locked in inaccessible silos

HealthEdge's patented, award-winning HealthRules product suite offers health plans the flexibility and real-time configurability required to meet the evolving needs of the 21st -century healthcare economy. HealthRules uses industry-standard database and application server technology to provide a solution that is easy to deploy, infinitely scalable, and ready to meet the needs of any organization. Unlike other offerings, HealthRules was built from the ground up using a true service-oriented architecture, enabling rapid, real-time integration with other systems and healthcare exchanges.

More than one hundred senior executives, including CEOs and CIOs from leading health plans, provider organizations and technology companies are expected to attend this year's Healthcare IT Summit. They will discuss the challenges facing the industry, share best practices, and learn about the latest tools that are available to enhance operational, financial and clinical performance. 

Attendees will have the opportunity to meet Desrochers, Kuntz and other HealthEdge senior executives, and see demonstrations of HealthEdge's award-winning HealthRules product suite.

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.

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