FOR IMMEDIATE RELEASE
Contact:
Steven M. Kaplan
Healthaxis Inc.
Director of Investor Relations
610-275-3800
skaplan@healthaxis.com
Healthaxis Announces Software Licensing Agreement
With HealhSCOPE Benefits (formerly CNA Health Partners)
EAST NORRITON, PA – April 26, 2001 – Healthaxis Inc. (NASDAQ: HAXS), announced today that HealthSCOPE Benefits, formerly CNA Health Partners, whose clients include many Fortune 100 companies, has signed a 5-year agreement to license software for claims processing and administration, web-enabled customer self-service, and imaging and data capture services. The contract, valued at $10 million dollars, is renewable annually after the initial five-year term.
Jim Johnson, Senior Vice President of HealthSCOPE Benefits described the reasoning behind selecting Healthaxis this way, “What we found appealing was not only the powerful core functionality of the Healthaxis products, but the clear use of Internet technology to support our operation, giving us the ability to provide excellent customer service and enhanced productivity.”
HealthSCOPE Benefits has been challenged by high benefits administration costs combined with a limited use of technology. Through the use of a combination of Healthaxis products including Insur-Claims, Insur-Admin, Insur-Web, and Insur-Image and Data Capture services, HealthSCOPE Benefits will be able to provide more timely and accurate benefit administration services to its customers. James W. McLane, President and CEO of Healthaxis, stated, “Our vision is aimed at the market’s needs. We are in business to facilitate seamless customer interactions, enhance operational efficiency, and create competitive advantages for our customers. All of us at Healthaxis are looking forward to helping HealthSCOPE Benefits achieve these objectives.”
Once HealthSCOPE Benefits’ current solution is de-installed and the Healthaxis solution is up and running, HealthSCOPE Benefits will enjoy a paperless work environment, web-enabled customer self-service, powerful reporting capabilities, and significant automated adjudication rates.
Johnson said, “HealthSCOPE Benefits expects to operate more efficiently, increase customer satisfaction, and gain a highly competitive market advantage through the use of leading edge technology.” He added that there would also be an impact on his customers. “As a result of the Healthaxis solution, our customers will have timely access to accurate information twenty four hours a day, seven days a week. Employees will enjoy easy to use web self-service, flexible reporting, and speedy customer service resolution.”
About HealthSCOPE Benefits
Based in Little Rock, HealthSCOPE Benefits is a national provider of managed care, healthcare information analytics and benefits administration services to large employers with self funded healthcare benefits. The company processes over $400 million in healthcare claims annually and provides managed care services on behalf of 75 customers around the country.
About Healthaxis
Healthaxis develops and implements state-of-the-art software solutions for healthcare benefits administration and distribution. These solutions reduce costs, improve productivity, promote efficiency, and enhance customer service. Healthaxis develops innovative solutions that offer businesses in the healthcare industry strategic advantages by quickly and efficiently connecting payers, providers, administrators, brokers, employers, and consumers (members/patients/employees). Healthaxis technology solutions enable customers to remain compliant with evolving federal regulations such as HIPAA. Healthaxis products and services support customers by easily integrating flexible Internet-based applications - matching the customer’s way of doing business with the demands of the Internet marketplace.
Healthaxis Inc. (NASDAQ: HAXS) - For investor information, call (610) 275-3800. For information on Healthaxis products and software solutions call (800) 519-0679 or visit www.healthaxis.com. Healthaxis, e-powering healthcare.
Note on forward-looking statements: All statements, trend analyses and other information contained in this release and elsewhere (such as in filings by Healthaxis Inc. with the Securities and Exchange Commission, press releases, presentations by Healthaxis Inc. or its management or oral statements) relative to markets for Healthaxis’ products and trends in Healthaxis’ operations or financial results, as well as other statements including words such as ``anticipate,'' ``believe,'' ``plan,'' ``estimate,'' ``expect,'' ``intend,'' ``should,'' ``could,'' ``goal,'' ``target,'' ``on track,'' ``comfortable with,'' ``optimistic'' and other similar expressions, constitute forward-looking statements under the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors, which may cause actual results to be materially different from those contemplated by the forward-looking statements. Such factors include, among other things: (1) general economic and business conditions, including changes in purchasing patterns, prevailing interest rate levels, stock and credit market performance and health care inflation, which may affect (among other things) Healthaxis’ ability to sell its products and have access to capital resources; (2) Healthaxis’ ability to achieve anticipated levels of operational efficiencies; (3) customer response to new products, distribution channels and marketing initiatives; (4) changes in the Federal income tax laws and regulations; (5) increasing competition in the sale of software solutions for the healthcare industry; (6) regulatory changes or actions, including health care regulation affecting the health insurance industry and software solutions products related to this industry; (7) actions by rating agencies and the effects of past or future actions by these agencies on Healthaxis' business; and (8) the risk factors or uncertainties listed from time to time in Healthaxis’ filings with the Securities and Exchange Commission.
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