Submitted by: Stacia Kirby
SEATTLE (March 4, 2014) FlexMinder, a fast growing startup that automates costly manual healthcare reimbursement processes, is pleased to announce a new partnership with Alegeus Technologies, the market leader in healthcare and benefit payments.
Alegeus offers the industry’s most widely-used technology platform for the administration of tax-advantaged benefit accounts – including FSAs, HSAs, and HRAs. Through integration with FlexMinder, Alegeus clients will be able to receive automated insurance carrier claim data feeds within the Alegeus platform. Administrators can then leverage this data to drive unprecedented levels of automation for claims submission, adjudication, and reimbursement processes. This new functionality has the potential to significantly reduce claim handling costs, eliminate submission errors, increase participation rates, and raise client profitability.
“Our simple but powerful tool is cutting costs and eliminating headaches for our customers,” said Lowell Ricklefs, CEO of FlexMinder. “We’ve helped some TPAs cut their total processing costs in half while greatly reducing the hassle factor for benefit account holders. No more inefficient paperwork, time-consuming communications, or stressed out customers. This is a solution we’re proud to be part of.”
“Integrating carrier claim data into the benefit administrators’ workflow creates significant efficiencies for administrators by reducing the time and resources required to substantiate card transactions and adjudicate claims,” said Tom Torre, Alegeus Chief Executive Officer. “From the participant’s perspective, having the ability to view and manage claim data inside our portal, and to facilitate claim payments directly from their benefit accounts, is a very powerful value proposition.”
About Alegeus Technologies
Alegeus Technologies is the market leader in healthcare and benefit payments – offering the industry’s most comprehensive platform for the administration of tax-advantaged benefit accounts (FSAs, HSAs, HRAs, MERPs, VEBAs, DCAPs and transit accounts), the industry’s most widely-used benefit debit card, and leading services for the outsourced management of claim payments and associated data exchange. Over 500 clients – including health insurance plans, third party administrators and financial institutions – leverage Alegeus’ deep expertise and proven technology to administer benefit accounts for more than 17.5 million members and process more than $18 billion in 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 focus on their customers. The company is headquartered in Waltham, MA with operations in Carrollton, TX, Orlando, FL and Milwaukee, WI. To learn more about Alegeus, please visit www.alegeus.com.
About FlexMinder, Inc.
FlexMinder, named one of the “Hottest Companies in Seattle”, is a fast growing startup that automates costly manual healthcare reimbursement processes, a $190B problem in the US. FlexMinder was selected to participate in the prestigious TechStars incubator program, and announced $1.4 million in Series AA financing to fund future growth in January 2013. For more information, visit www.flexminder.com.
About Reader Contributions: The StartUp Beat ‘Reader Contributed’ section is an opportunity for anyone to contribute to the conversation about startups. We accept opinion pieces, press releases, infographics, and blog posts. The idea is to allow all of StartUp Beat’s readers to contribute outside of the main news, features, and guest columns sections of the site, and to allow companies that have product news announcements to post them. Note that contributions are lightly edited for grammar or spelling errors, but are not be subjected to careful editing like the pieces in the site’s main sections. Also note that although submissions are selected and curated by editors, StartUp Beat is not responsible in any way for any of the content published in the ‘Reader Contributed’ section—that is solely the responsibility of the individual author.
Would you like to add to the conversation? Reader Contributed section submission guidelines: http://startup-beat.local/guidelines-reader-contributed-section/