FARGO, N.D.--(BUSINESS WIRE)--Award-winning Evolution1 – a WEX Company – an industry-leading healthcare financial technology platform provider – further solidified its leadership position in 2015 in terms of growth and services:
- 1Cloud by Evolution1® facilitated billions of dollars in reimbursements and processed more than 150 million transactions, all with an uptime of 99.99 percent over the past three years.
- Evolution1 saved its Partners more than $250 million in annual operating costs through claim and payments automation.
- The number of consumers on the Evolution1 platform grew to more than 17 million, with Evolution1 now powering more than 200,000 employer groups.
- 1Mobile by Evolution1® experienced growth of 85 percent in new consumer accounts and 140 percent growth in transaction activity.
- Evolution1 increased its presence in public and private exchanges as well as the retiree market by adding new solution Partners and powering more than 50 marketplaces.
- Through WEX’s acquisition of Benaissance, Evolution1 added premium billing, payment, workflow management, and COBRA functionality within the healthcare market to its industry-leading platform.
“We are successful because of our Partners’ hard work, dedication, and determination, and we are tremendously grateful for everything they do day in and day out,” said Jeff Young, senior vice president and general manager of Evolution1. “Without them, we couldn’t do what we do, which is simplify the business of healthcare.”
In 2015, Evolution1 continued receiving prestigious awards and recognition, including the Paybefore Award, Cloud Top 500 Applications Vendors by APPS RUN THE WORLD, CIO Review’s 20 Most Promising Cloud Solution Providers 2015, and Media Planet’s Future of Business and Tech.
Evolution1 continues to build key relationships, signing multi-year agreements with third-party administrators, health plans, financial institutions, exchange Partners, and payroll providers. A subset of the organizations that in 2015 joined the comprehensive and proven list of Partners using Evolution1 as their strategic platform include: Aetna bswift, Allegiance – A Cigna Company, Department of Vermont Health Access, HSA Bank, Hanratty Administrators, Medica, PNC Bank, Peoples Bank, Sentinel, TASC, and Trustmark Companies.
Evolution1 Partners will gather April 4-6 at The Westin Kierland Resort & Spa in Scottsdale, Arizona for Partner Conference 2016, the industry’s go-to event.
About Evolution1, Inc. – a WEX Company
At Evolution1, Inc. – a WEX Company, we simplify the business of healthcare. We do that through innovative cloud-based payment and technology solutions that administer and manage consumer-directed and defined contribution accounts. Our network of partner organizations enables us to deliver our industry-leading and award-winning solution to 200,000 employers and more than 17,000,000 consumers. Together we take the complexity out of defined contribution, HSAs, HRAs, FSAs, VEBAs, PRAs, premium billing, public and private health insurance exchanges, COBRA, wellness plans, and transit plans. Learn more at www.evolution1.com, and follow Evolution1 on Twitter at @Evolution1Team.
About WEX Inc.
WEX Inc. (NYSE: WEX) is a leading provider of corporate payment solutions. From its roots in fleet card payments beginning in 1983, WEX has expanded the scope of its business into a multi-channel provider of corporate payment solutions representing more than 9 million vehicles and offering exceptional payment security and control across a wide spectrum of business sectors. WEX and its subsidiaries employ more than 2,000 associates. The Company has been publically traded since 2005. For more information, visit www.wexinc.com and follow WEX on Twitter at @WEXIncNews.