Featured Startup Pitch: hCentive offers technology solutions that help healthcare providers create exchanges and implement healthcare reform

By Editor December 17, 2012
hCentive logo

hCentive logoCompany: hCentive

Website: www.hcentive.com

Founders: Sanjay Singh, Manoj Agarwala, Tarun Upadhyay

Headquarters: Reston, Virginia

Year Founded: 2009

Investors: Bootstraped

Twitter: @hcentive

Facebook: www.facebook.com/hcentive

Brief Company Description: hCentive provides technology solutions to health plans, state health insurance agencies and healthcare technology companies.

By Manoj Agarwala, co-founder

Product Overview

hCentive presents multiple solutions that enable the creation of health exchanges for the purposes of simplifying healthcare and reducing costs. The company’s solutions can increase an insurer’s sales by making it easier for individuals, families and small businesses to purchase affordable insurance.

The company’s products, including WebInsure Consumer, WebInsure Medicare, and WebInsure Group, work in tandem to help health insurers cost-effectively acquire and manage individual, Medicare and small business customers.

Health plans that need to offer defined contribution plan marketplaces to small business customers choose the WebInsure Private Exchange. WebInsure State is a single or multiple-state solution that helps states create a health benefits exchange to comply with health insurance exchange requirements of the PPACA [Patient Protection and Affordable Care Act]. The WebInsure Exchange Manager product provides a complete connectivity solution for health plans to connect to State Exchanges. Health plans that increasingly need a cost-effective cloud hosting option can utilize the secure and scalable WebInsure Cloud.

Founders’ Story

The three founders, Sanjay Singh, Tarun Upadhyay, and I, are entrepreneurs at heart. In 2000, we founded GlobalLogic, a product development company with more than 6,000 employees. In 2009, we saw an unmet need in the healthcare market and decided to strike out on our own once again by founding hCentive. The company is headquartered in Reston, Virginia, with its R&D office in India. hCentive has grown to more than 200 employees, and we have plans in place to reach 300 staff members by Q1 2013.

Marketing/Promotion Strategy

The healthcare arena is a relatively small world, with many interconnected businesses and individuals, so positive word-of-mouth, client referrals and success stories are vital for hCentive’s success. The company is currently focusing heavily on public relations outreach and various online marketing initiatives. In 2013, hCentive plans an overall broadening of its marketing initiatives. The company has partnered with various large system integrators who are deeply involved with state agencies. To pursue the commercial exchange connectivity and private exchange market, hCentive is going directly to customers.

How We Differentiate from the Competition

First and foremost, we differentiate ourselves by focusing on creating innovative solutions to address the needs arising out of healthcare reform. We are a nimble company that has been able to understand the impacts of healthcare reform and quickly build solutions that allow companies and states to be in compliance with all regulations. Our staff is also very adept at finding early adopters and building private and public exchange solutions in a real partnership.

Given our market, we know we have to focus significant effort on superior customer service. All of our employees are empowered to go the extra mile to meet our customers’ needs. This flexibility is a clear competitive advantage, an area where hCentive is truly able to stand out and gain business through satisfied referrals.

Business Model

Our business model consists of multiple revenue streams coming from an enterprise license model with license and maintenance fees, and a SaaS model which is based on a per member/per month fee model. We also charge cost-effective implementation fees.

Current Needs

Our current personnel needs are focused on project managers for the management of implementations, seasoned software architects, and subject matter experts with deep health insurance experience.

We are looking to fill roles in the United States and India for technical positions including engineering managers, Java/J2EE architects, Java/J2EE tech leads, Java/J2EE developers, product managers, Visual Designers, Usability engineers, and UI developers.

hCentive – www.hcentive.com