One of the nation’s premier third-party administrators (TPAs) — the first in its state for self-funded health plans and an industry leader in health risk management – has been serving hundreds of organizations throughout the U.S. for nearly four decades. It wasn’t about to sit on its laurels in the wake of explosive consumer-driven healthcare (CDH) account market growth.

Recognizing the need to capitalize on the projected growth, the company sought a partner that could not only integrate its existing technology, but also enable it to offer differentiated solutions against the competition and complex plan designs using a technology built to deliver a superior CDH experience under its own brand.

The company was already using the Alegeus platform for its core medical claims processing business and it wanted the same competitive advantage for its CDH products, so the company turned to Alegeus to help implement its growth strategies and best administer its growing CDH account portfolio.

As the healthcare landscape continues to change, U.S. employers are increasingly turning to consumer-directed healthcare strategies to shift costs and meet new demands. And while HSAs
are forecasted to achieve the highest growth, FSAs and HRAs continue to present health plans and administrators with plenty of opportunities as well.

Companies wishing to acquire their share of this growth opportunity need a technology partner they can trust with the strategic direction and support of their CDH solution. They can best capitalize on these opportunities by leveraging a single CDH platform that integrates into the wider client ecosystem required to deliver full support of consumer engagement strategies, as well as efficient CDH account administration, ultimately creating unique healthcare experiences that deliver differentiated value for their customers.

Alegeus worked with the TPA throughout the sales process to demonstrate the benefits of integrating CDH account administration within their current platform for processing medical claims. Such integration would allow them to simplify business operations and reduce costs by leveraging comprehensive CDH account administration capabilities in a single platform. More importantly, a single platform would enable the TPA to deliver a seamless, end-to-end experience for consumers entirely under its own brand, positioning the TPA for market dominance across all aspects of its business.

The ability to expand its existing relationship with Alegeus also meant the TPA could get up and running quickly and efficiently. Because the platform is single-sourced and wholly owned by Alegeus, it offers better control, faster speed-to-market and easier client integration. Unlike competitive solutions, the Alegeus platform is designed, developed, owned and maintained by Alegeus without dependence on other technology — delivering seamless real-time execution.

Alegeus delivered a platform architected to offer maximum flexibility, empowering the TPA to bring
the industry’s most robust account and engagement capabilities to their customers. These capabilities are unmatched in the market — creating unique healthcare experiences that deliver differentiated value so the company can outperform the competition.

Additionally, the highly consultative sales, implementation and support Alegeus delivered allowed the relationship to transcend a simple vendor-client dynamic and achieve a true business partnership. One in which Alegeus was dedicated to truly understanding the client’s needs and objectives to deliver a strategic partnership that ensured those objectives were met.

The TPA is establishing its position as a market leader through its expanded ability to support all aspects of the consumer healthcare journey — from spending on health care today to saving for the future.

In addition to generating significant uptick in the number of CDH accounts and account balances, the TPA now benefits from reduced operational costs involved in managing multiple systems, as well as improved client satisfaction through its ability to deliver a seamless and end-to-end experience under its own brand.

As employers increasingly remove themselves from direct involvement in employee healthcare coverage, CDH accounts can be a powerful tool in the benefits toolbox, offering attractive value propositions that reduce costs for employers and improve employee engagement in their own health and wellbeing. Under these circumstances, CDH accounts will increasingly become the primary means by which consumers interact within the entire healthcare ecosystem — acting as the bridge that joins saving and spending “moments of truth.”

TPAs and health plans can capture a greater share of the multi-million-dollar growth opportunity for CDH accounts by taking the lead in owning this critical piece of the consumer relationship. This winning strategy implemented by a partner with an integrated and flexible single technology platform will help key players remain competitive in this demanding market.