Consumer Health Technologies Inc. Acquires MyHealthFunds, Inc. Adds Business Process Outsourcing Services for TPA and Payer clients
MHF is a Denver, CO based consumer directed healthcare (CDH) services company that delivers complete specialized Business Process Outsourcing (BPO) services to CDH clients. CHT is a technology company committed to helping clients achieve revenue growth by offering compelling healthcare and benefit solutions via BenefitSpan and Powerplus platforms.
- Fort Lauderdale, FL (1888PressRelease) August 25, 2010 - Consumer Health Technologies, Inc. (CHT) today announced the acquisition of MyHealthFunds, Inc. (MHF). MHF is a Denver, CO based consumer directed healthcare (CDH) services company providing outsourced services for outreach, education, enrollment, business development and fiscal administration to Health Insurance Plans (Health Plans) and Third Party Administrators (TPAs). The acquisition will allow CHT to deliver a complete technology solution coupled with certified and specialized Business Process Outsourcing (BPO) services to its CDH client base.
"This acquisition is another step to help our clients deliver compelling healthcare and benefit solutions to their brokers, employers and consumers, via our BenefitSpan™ and PowerPlus™ platforms," said Pradeep Goel, CEO of Consumer Health Technologies. "Their success in the CDH space is dependent not only on the best technology, which CHT has always provided, but also successful and effective education of the benefits consultant, employer and consumer. The launch of this service is a direct response to our clients' needs and our focus on maximizing their return on investment."
MHF was founded in 2006 and is already certified on CHT's BenefitSpan product suite. The company services their clients with customized and private label telemarketing, education and enrollment services targeting brokers/consultants, employers and employees.
In conjunction with the acquisition, CHT also announced the launch of a "CDH Support Center". The support center will deliver the business development, education, enrollment and sales support services to the CHT client base. This innovative program will enable clients to effectively market their CDH products and services to sales consultants/brokers, employers and consumers, resulting in accelerated growth in service adoption and revenue.
The CDH Support Center is expected to go live next month for the benefit of the CHT client base. The sales support services will drive higher adoption among employees through targeted education and enrollment campaigns. The uniqueness of the CHT approach is that clients will
have the opportunity to increase CDH revenue without the monetary burden of hiring additional staff for broker training, employer education and member enrollment. Education and implementation of the new service will be administered via on-site visits, webinars, lunch-and-learns and access to a dedicated team, which is fully trained and certified on BenefitSpan.
"We make it a point to listen to the needs of our clients and what they needed was assistance with marketing their CDH solution to consultants and employers," said Vince Caruso, CHT Chief Marketing Officer. "Acquisition of MyHealthFunds, Inc. addresses our clients' marketing needs and allows us to service our clients on a level that is revenue accretive for them."
CHT has experienced rapid growth in the last twelve months via a targeted acquisition strategy and organic growth. In less than a year the CDH industry leader has acquired two technology companies and grown the customer base to over 130 clients. CHT platforms are now used to administer benefits for over 3 million consumers.
About Consumer Health Technologies, Inc.
Consumer Health Technologies, Inc. enables Health Insurance Plans (Health Plan), Third-Party Administrators (TPA) and Banks to rapidly assemble, price, deliver and administer consumer-centric health benefit accounts and services via BenefitSpan™, the total CDHC service platform. BenefitSpan™ supports rapid integration and delivery of healthcare transactions, financial services and a wide array of supporting services, such as HealthMall cash back reward program, wellness programs, telemedicine, healthcare advocacy and much more. These services can be assembled, personalized and delivered in a targeted fashion to meet the needs of the individual and group clients for benefit accounts, consumer health services delivery and administrative solutions.
Healthplans and administrators can also manage the consumer and provider revenue cycles with CHT's BillSpan™ product, a total payment administration and revenue cycle management solution that delivers comprehensive healthcare payments and revenue management capabilities. To learn more about Consumer Health Technologies, Inc. please call 1-877-CHT-3636 or visit www.consumerhealthtech.com.
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