Lighthouse1 Continues Leadership in a Rapidly-Growing Healthcare Market
Highlights of 2010: Health Savings Account and HRA Growth, Mobile Solution, Performance
MINNEAPOLIS--(BUSINESS WIRE)--Lighthouse1, a recognized technology leader in the consumer-driven healthcare market (CDH), announced today that the company continued its leadership as the largest web-based healthcare solution in 2010 in terms of growth and services. Additionally, the company formed several key strategic partnerships.
"In the midst of extraordinary change in the healthcare industry, one thing remains constant: our dedication to reducing costs and simplifying the business of healthcare"
The company increased its partner base by 70 percent. Together with its partners, Lighthouse1 now serves more than 130 third-party administrators, financial institutions, health plans and software providers across the country and provides healthcare and other reimbursement account services to more than 25,000 employers and 2.7 million consumers on a single, hosted platform. Last year, Lighthouse1 OnDemand™ – the premier Web-based, software as a service CDH solution – facilitated more than $2.4 billion in reimbursement transactions and processed more than 24 million claims, all with an uptime of 99.999%.
There were more than 170 enhancements added to Lighthouse1 OnDemand in 2010, and 2011 is projected to include nearly 200 additional enhancements that empower, extend and innovate the Lighthouse1 solution for partners, employers and consumers. Because of the solution's innovative architecture, new enhancements can be released throughout the plan year with no interruption to user experience or service levels.
Recognizing that mobile devices represent the next stage in consumer self-service, the company's mobile solution, Lighthouse1 Mobile, continues to evolve with advanced features and functionality. The solution enables consumers to access and upload information about their healthcare account, 24/7/365 from anywhere, via their smartphone.
"In the midst of extraordinary change in the healthcare industry, one thing remains constant: our dedication to reducing costs and simplifying the business of healthcare," said Jeff Young, CEO of Lighthouse1. "Consumers want more control over healthcare spending for themselves and their families. Because of our robust business model and our strong network of partners, we are poised to make an unprecedented difference in the management of all types of CDH reimbursement funds, ultimately helping consumers maximize their healthcare dollars."
Dozens of time-saving administrative features in Lighthouse1 OnDemand 2011 help partners expand their HSA, HRA, FSA and Wellness businesses while increasing operational efficiencies as well as the satisfaction of employers and consumers. Additionally, My Personal Health Suite and Learn CDHC – the first of many Value Added Solutions from Lighthouse1 – are designed to help employers and consumers make better, more informed healthcare decisions while managing costs and improving wellness.
Lighthouse1 continues to build key relationships, signing multi-year partnerships with two of the nation's largest banks as well as a number of large health plans and leading third-party administrators to provide additional features and functionality to their respective existing CDH offerings. These partnerships solidify Lighthouse1's leadership in the consumer-driven healthcare industry and reflect the company's growth in the areas of HSA and HRA.
Lighthouse1 continued its commitment to providing a superior value proposition to its partners with Partner Conference 2010, its annual partner conference. The event brought together the most highly respected experts in consumer-driven healthcare with Lighthouse1 strategic and administration partners. This year's Lighthouse1 Partner Conference will take place May 23 – 25 in Minneapolis.
Lighthouse1 and its partners serve more than 2.7 million consumers, making Lighthouse1 the nation's largest web-based healthcare solution that manages HSAs, HRAs, FSAs, and Transit Plans. It is the only solution available today that meets more than 1,100 unique benefit plan designs, simplifies the user experience, and satisfies workflow management needs of administration partners, employers, and consumers. It does all this on one technology platform comprised of Lighthouse1 OnDemand, the Lighthouse1 OneCard, and fully integrated web-based portals available 24/7/365. Lighthouse1 and its partners are dedicated to reducing costs and simplifying the business of healthcare. Visit www.lighthouse1.com for more information.
Tiffany Wirth, 701-499-7215
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