|[March 18, 2013]
Evolution1 Extends Position as Industry Leader
MINNEAPOLIS --(Business Wire)--
the nation's largest electronic payment, on-premise and cloud computing
healthcare solution built on a vision to simplify the business of
healthcare, continued its leadership position in 2012 in terms of growth
Together with its Partners, Evolution1 now serves nearly 500 third-party
administrators, financial institutions, health plans, and software
providers across the country, providing healthcare and other
reimbursement account services to more than 75,000 employers and more
than 9,000,000 consumers.
In 2012, Evolution1's cloud-based, software-as-a-service
consumer driven healthcare (CDH) solution facilitated billions of
dollars in reimbursements and processed more than 50 million claims, all
with an uptime of 99.999%.
Last year Evolution1 grew the number of consumers on its platforms by
nearly 40 percent. As in prior years, the top-performing Evolution1
Partners grew an average of 88 percent, outpacing their industry peers.
Additionally, the company formed several new key strategic partnerships,
including relationships with several of the nation's largest and most
respected health plans.
Evolution1 and its Partners saved its customers and their employees more
than $2 billion in 2012 through annual healthcare cost reductions and
tax savings. Such a savings enabled employers to continue providing
health insurance while putting more money in their employees' wallets to
pay for healthcare costs. Additionally, Evolution1 saved its Partners
more than $80 million in annual operating costs through claim and
Ongoing healthcare legislation as well as consumer self-service needs
continue to create unprecedented changes - and demands - in the
healthcare industry. 1Mobile by Evolution1® - the company's
mobile solution (formerly known as Lighthouse1 Mobile) - addresses the
changes and demands. Total activations of 1Mobile have increased over
130 percent in 2012 and are now averaging nearly 1,500 new consumer
activations per day, largely due to the 1Mobile functionality that
enables consumers to file new FSA/HRA claims and submit associated
receipt images as well as view and create transactions, all via their
"Amongst the constant change in the healthcare industry, one thing
remains unwavering: our dedication to reducing costs and simplifying the
business of healthcare," said Jeff
Young, chairman and CEO of Evolution1. "Our single-source end-to-end
solution, our strong network of dedicated Partners, and our steadfast
commitment to exceptional customer service and support enable us to make
an extraordinary difference in the management of all types of CDH
reimbursement funds. Day in and day out, we are helping consumers
maximize their healthcare dollars."
Evolution1 continues to build key relationships, signing multi-year
partnerships with a number of large health plans and leading third-party
administrators - including Alliance Benefit Group North Central States,
Inc., Benefit Advantage, Chard Snyder & Associates, Inc., Flex-Plan
Services, Inc., National Benefit Services, LLC, and Vantagen, LLC - that
are using Evolution1 as their strategic platform of choice. These
partnerships solidify Evolution1's leadership in the consumer-driven
healthcare industry and reflect the company's growth in the areas of
HSAs and HRAs. From September 2010 to August of 2012, the number of HSA
participants for Evolution1 and its Partners grew by 227 percent.
In 2012, Evolution1 received a number of prestigious awards and
recognitions, including: the Institute
for HealthCare Consumerism's CEO Leadership Award, the Paybefore
Awards, the Marcum
Tech Top 40, the Inc.
500|5000, Deloitte's (News - Alert) Technology Fast 500™, and the MobileVillage
"Shining Star" Mobile Star Award.
Evolution1 continued its commitment to providing a superior value
proposition to its Partners with Partner Conference 2012. The annual
event brings together the most highly respected experts in
consumer-driven healthcare. Partner
Conference 2013 will take place tomorrow through Thursday at Disney (News - Alert)
World Dolphin Resort in Orlando, Florida.
and our Partners serve more than 9 million consumers, making us the
nation's largest electronic payment, on-premise and cloud computing
healthcare solution that administers reimbursement accounts, including
Defined Contribution, HSAs, HRAs, FSAs, VEBAs, PRAs, Wellness, and
Transit Plans. It is the only solution that offers a single end-to-end
user experience, provides innovative auto-substantiation technologies,
and automates workflow for Partners, employers, and consumers. Learn
more at www.evolution1.com.
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