HealthAxis.com Announces Expanded Relationship with
CareFirst Administrators
CareFirst To Transfer Entire Claims Processing Workload to HealthAxis.com’s
ASP Platform
East Norriton, Pennsylvania— September 21, 2000—HealthAxis.com—a subsidiary
of HealthAxis Inc. (NASDAQ: HAXS), and a proven leader in web-enabling
healthcare payers—and CareFirst Administrators—a subsidiary of CareFirst
Blue Cross Blue Shield, today announced that CareFirst will add to the
services it is already receiving from the Company. CareFirst will automate
its Willse & Associates claims processing caseload using HealthAxis.com’s
ASP technology. In addition to using HealthAxis.com’s web-based claims
system, CareFirst will also incorporate several other Internet based modules
provided by HealthAxis.com. Under the terms of the agreement, CareFirst
will consolidate all of its claims processing on the HealthAxis.com
Insur-ClaimsÒ platform.
Through this agreement, CareFirst Administrators will employ a suite of
HealthAxis.com technology solutions, including:
q Insur-ClaimsÒ, a comprehensive paperless claims processing solution
that features auto adjudication and PPO re-pricing for third party
administrators, insurers, and self-administered groups;
q Insur-AdminÒ, a comprehensive eligibility system that features
Interactive Voice Response (IVR) and Web enrollment, group and individual
billing, COBRA, and Flexible Spending Accounts;
q Insur-EnrollÔ, a flexible employee self-service benefits enrollment
system that utilizes both Internet and Interactive Voice Response (IVR)
technology;
q Insur-Web, an Internet gateway that provides employee and employer
self service, and
q Insur-ImageÒ, an imaging solution that captures data and can be
integrated with the HealthAxis.com claims processing system or any other
claims processing system.
—more—
“CareFirst is a leader in healthcare administration and is known for quality
service, using innovative technology,” said Dennis Maloney, chief operating
officer of HealthAxis.com. “CareFirst remains committed to staying on the
cutting edge and has chosen HealthAxis because of our ability to take them
to a higher level of technological excellence.”
“When we decided to automate, we wanted the most automated solution we could
find,” said John Hauer, senior vice president with CareFirst Administrators.
“We chose HealthAxis because their technology will move us to a paperless
claims processing environment, enabling employees and employers to access
all of their claims needs via the Internet, generating remarkable
efficiencies to all parties.”
CareFirst has grown rapidly through mergers (Willse & Associates and NCAS
Fairfax), acquisitions (NCAS Charlotte), as well as through organic sales
growth. When the system integration is complete, CareFirst will service over
100,000 lives through the system and provide over $2 million per year in
recurring revenue to HealthAxis.com. This represents nearly a 60% increase
in annual contract value during the first year. Going forward, both parties
anticipate that CareFirst will continue to increase the number of lives on
their system.
About HealthAxis.com
HealthAxis.com, a subsidiary of HealthAxis Inc., is the proven leader in
web-enabling healthcare payers and those entities involved in the digital
distribution of health insurance. The Company's proprietary workflow and
business application software, built around an application service provider
model, enables healthcare payers—carriers, third party administrators, and
large, self-funded groups—to more efficiently capture, process, and share
health plan data over the Internet. HealthAxis.com is headquartered in
suburban Philadelphia, with significant operations in Dallas. The company
employs over 350 IT professionals.
About CareFirst Administrators: For more than fifteen years, CareFirst
Administrators has been providing complete medical, dental, vision, and
disability benefit management services to self funded employers. Services
are provided to clients throughout the Mid-Atlantic region, through offices
in Baltimore MD, Fairfax, VA and Charlotte NC. CareFirst Administrators
serves Northern Virginia, the District of Columbia, Maryland, North Carolina
and Delaware.
Safe Harbor Statement
Under the Private Securities Litigation Reform Act of 1995:
Certain statements made by the Companies, which are not historical facts may
be considered forward-looking statements, including, without limitation,
statements as to trends, management’s beliefs, expectations, forecasts and
opinions, which are based upon a number of assumptions concerning future
conditions that ultimately may prove to be inaccurate. Such forward-looking
statements are subject to risks and uncertainties and may be affected by
various factors, which may cause actual results to differ materially from
those in the forward-looking statements. For further information, which
could cause actual results to differ from the Companies’ expectations as
well as other factors, which could affect the Companies’ financial
statements, please refer to HealthAxis Inc.’s reports filed with the
Securities and Exchange Commission. |
