FOR IMMEDIATE RELEASE
Unique Exchange Billing Capabilities create market differentiation
Highland Park, IL. , September 23, 2014 - Maestro Healthcare Technology today announced that they have acquired Florida based Workable Solutions from Alegeus Technologies. This strategic move strengthens Maestro’s unique benefit solutions with the addition of leading private exchange and billing capabilities.
Combining the capabilities of Workable Solutions with Maestro’s integrated administration, medical management and consumer driven payment solutions will create enhanced value by establishing an industry leading, integrated platform designed to provide simple administration for employers and an easy-to-understand marketplace for consumers.
Workable Solutions was founded in 1997 to serve the enrollment and billing needs of healthcare alliances across the country. Having operated a number of multi-carrier programs, Workable Solutions has developed the expertise required to successfully operate in today’s online benefits marketplace. Their web-based platform includes plan recommendation and selection assistance tools, automated electronic enrollment, eligibility maintenance, and consolidated billing modules.
“As we’ve seen health exchanges evolve, it has become apparent that most exchange platforms lack easy to use, integrated billing and reconciliation capabilities,” said Rob Butler, CEO of Maestro. “This acquisition not only gives us a competitive edge, it also aligns with our belief and business model that employer benefits work better when they work together as one solution.”
Private health exchanges have existed for years in the individual and retiree insurance marketplace. Only recently, due to the launch of public exchanges in 2014, have we seen an increased interest in utilizing this concept in the private sector. Employer-sponsored group health exchanges are forecasted to reach over 30 million lives in the next 5 years.
“We believe that employers contemplating private exchange plans need options to choose either self-funded or fully insured models. Employers should not be forced to revert back to a fully insured exchange model versus a self-funded exchange platform simply because that’s all the vendor has in their bag,” added Butler. “In addition to offering that option, we provide fully integrated self-insured plan administration which creates a significant advantage as one unified solution.”
About Maestro Health™
Maestro Health (http://www.maestrohealth.com) is the only technology-meets-service platform delivering the most complete, all-in employee health & benefits management solution for brokers and employers. Our broad client base ranges from small employers to Fortune 1,000 organizations. We offer integrated “one stop shopping” for the employer market, along with private labeled exchange solutions—enabling brokers to brand the offerings as their own. Headquartered in Chicago, IL, Maestro Health owns and operates a proprietary private exchange and medical TPA, which allows the streamlined integration of care management to drive down costs for employers. Our business model is built around the belief that employee benefits work better when they work together as one solution.