(This post was first published on MedCityNews)
(This post was first published on MedCityNews)
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New reimbursement models and the impending launch of state health insurance exchanges pose some new technical and administrative challenges to health plans. A company that’s building enterprise software solutions to help payers handle these and other big changes in how plans are managed has just raised $14 million to continue growing.
Healthation says that the new retail ecosystem requires healthcare administration to be increasingly real-time and interoperable. The company markets web-based solutions for emerging healthcare payers and administrators that include benefit plan management, financial management, transaction management, customer service and reporting and analytics.
The Lisle, Illinois-based company just disclosed in an SEC filing that it had raised a Series B. In an announcement, the company said the $14 million investment round was led by ABS Capital Partners, with participation from Hughes & Company and existing investors SilverStream Capital.
“With this new injection of capital we’ll be better able to provide what our customers need – and that ultimately means they can be more competitive in this shifting market,” CEO Darin LeGrange said in a company statement.
Founded in 2002, the company says it has 26 customers who are managed care payers, third party administrators and non-profit consumer-oriented plans. It also recently won contracts with three state-based health insurance marketplaces.
Other companies in this space include IBM, Plexis and Health Solutions Plus.
[Health benefits photo from BigStock Photos]
