Alegeus Announces Multi-Phased Innovation Initiative to Deliver the Industry’s First 'Smart Account'
Published on December 12th, 2018
Alegeus, the market leader in consumer-directed healthcare (CDH) solutions, today announced a multi-phased innovation initiative that features machine learning and artificial intelligence to deliver the industry’s first truly “smart account”. This announcement will be the first of several to come as Alegeus bears down to transform the healthcare funding market in ways that have never been seen before – unveiling next-generation solutions that deliver a simpler, smarter healthcare funding experience and better results.
The initiative will enhance the Alegeus platform with broader support for the benefits lifecycle – offering all stakeholders the value of having everything in one place, in real time. It will incorporate advanced technologies to identify value-add opportunities and to deliver more personalized experiences. Self-guiding tools will take the guesswork out of healthcare funding decisions, and it will all be wrapped in a simple, intuitive user experience that is easy to understand and navigate.
The first component of this initiative, which is currently being piloted by a select number of clients, is an enhanced employer portal. The new portal will offer a simplified, easy-to-navigate design that helps the employer focus on the metrics that are most impactful to their bottom line, including the capture of premium and tax savings. The portal will give employers context to benchmark their performance against peers via a CDH Health Score that quantifies the financial impact of a program not being fully optimized and provides a clear course of action to capitalize on incremental opportunities. The portal will include access to turnkey employee communications and marketing support that make it easy for employers’ already-busy HR staff to execute.
Companies that succeed over the long term continually reinvent themselves to stay relevant, and Alegeus is no exception,” said Steven Auerbach, Alegeus CEO. “We believe that the consumer-directed healthcare market is at an inflection point. As their financial responsibility for healthcare grows, consumers and employers will no longer tolerate poor experiences, making this market ripe for disruption. Thanks to our data and scale, we believe Alegeus is in the best possible position to drive this market disruption with a focused innovation agenda that truly reinvents the consumer healthcare funding experience.
Boasting the industry’s most robust account administration platform in the market, Alegeus provides support for more than 30 million consumers and 225,000 employers. As a result of its recent acquisition by Vista Equity Partners (whose portfolio holdings make it the 4th largest software provider in the world), Alegeus now has access to significant investment capital to fund these ground-breaking platform enhancements. Combined, these factors give Alegeus unmatched flexibility, a running start, and speed-to-market that cannot be matched by competitors.
Alegeus is the market leader in consumer-directed healthcare solutions, offering an industry-leading benefits platform, benefit debit card and mobile app that are transforming the way people navigate the U.S. healthcare system. Our next-generation technology simplifies the administration of healthcare benefit accounts (including FSAs, HSAs, HRAs, wellness incentive, dependent care and commuter accounts), and uses data-driven insights to guide consumers to the right coverage, care and savings strategies. More than 350 Alegeus clients – including health insurance plans and third-party administrators – leverage our deep expertise and proven technology to administer benefit accounts for more than 30 million members and to process more than $9.1 billion in consumer healthcare payments annually. As the healthcare and benefit markets continue to evolve, Alegeus delivers solutions that enable clients to evolve their service offerings, operate their businesses more efficiently, and lead consumers to better health and financial decisions. The company is headquartered in Waltham, MA with operations in Orlando, FL and Milwaukee, WI.