Independence Holding Company Platform Administers Health Products on Private and Public Exchanges
February 26, 2015
As those who live in the U.S. have become more than aware in the past few years the administration of health care exchanges, be they public or private, is an extremely difficult to do not just correctly but cost-effectively as well. News from Independence Holding Company is that IHC Health Solutions, Inc., which administers multiple health insurance lines of business for IHC’s carriers and other insurance companies, has launched EbixEnterprise, a state-of-the-art system in conjunction with Ebix, Inc.
Illustrative that like good wine getting a project as complex as this to where it needs to be takes time. IHC’s launch of EbixEnterprise is the culmination of a multi-year project that started in 2012 when IHC and Ebix (News - Alert) first partnered to develop the comprehensive platform.
The system leverages several Ebix products that connect multiple insurance constituents, including consumers, health providers, risk takers (carriers, issuers and health plans), distributors (marketers, producers and health exchanges) and administrators (payors and TPAs). The solution integrates all of the following tools and services:
- Customer relations management (CRM)
- Insurance shopping
- Policy administration
- Claims payment
- Distribution compensation
- Document management
- Full accounting
In addition, and a value-added, is EbixEnterprise’s ability to generate and deliver enhanced reporting and business intelligence through web portals, self-service capabilities and a data warehouse.
Pete Wirski, president of IHC Health Solutions, stated, “Given IHC’s strong background in administering individual and group major medical products for numerous carriers, this new, fully-integrated platform further enhances our capabilities to manage a diverse portfolio of health insurance products in multiple health care markets on both public and private exchanges. We are considered to be a market leader nationally in providing front and back-end systems to health systems, insurance companies and ACOs.”
Jim Senge, senior vice president of Ebix Health, commented, “The EbixEnterprise technology platform addresses the emerging health insurance market needs in the post health care reform industry. This platform seamlessly integrates Ebix’s new and multiple existing products for a full spectrum of both front-end and back-end health insurance sales and administration needs. Unlike many technology solutions that exist today, EbixEnteprise is a turn-key solution for carriers/issuers, health plans, ACOs, health delivery networks and other entities participating in the new health care markets.”
The term “turnkey,” as the list of capabilities indicates, is a more than apt description of EbixEnterprise. It also hits a sweet spot in the market as organizations look to simplify their operational environments along with having better visibility and control over the myriad of moving parts that go into making a health exchange useful and user friendly.