Aldera Celebrates Emergence as a Leading Core Administration System Provider for the Affordable Care Act Era
LISLE, Ill.--(BUSINESS WIRE)--Aldera (formerly Healthation), a leading provider of cloud-based and on-premise core administration and private portal solutions for payers and administrators, today offered a comprehensive report of its 2013 accomplishments.
“This was an unprecedented year in the U.S. healthcare industry, as years of Affordable Care Act preparations became a tangible reality with the launch of Healthcare.gov and the many state-based marketplaces and CO-OPs”
“This was an unprecedented year in the U.S. healthcare industry, as years of Affordable Care Act preparations became a tangible reality with the launch of Healthcare.gov and the many state-based marketplaces and CO-OPs,” said Darin LeGrange, Aldera President and CEO. “Through this time of great uncertainty, it was very rewarding to see the Aldera team’s amazing commitment and innovation, all of which portends to good things to come for our clients and our company in 2014.”
Affordable Care Act Growth
Aldera technology is powering three state-based marketplaces and six Consumer Operated and Oriented Plans (CO-OPs).
“Changing market and regulatory dynamics pushed industry participants to demand the kind of leading administrative and operational technology capabilities we are known for,” said LeGrange. “That Aldera’s technology helped power the successful rollouts of state-based marketplaces and CO-OPs was a tremendous accomplishment for our organization.”
Previously known as Healthation, Aldera became the company’s new name in November 2013. The new name is derived from Alderamin, a star whose magnitude and location make it dependable for navigation. Thus, “Aldera” reinforces the company’s role in helping health insurance payers move forward successfully and with confidence.
LeGrange added, “It’s easy to get lost in the weeds of changing technical specifications and regulatory guidelines, and this makes life particularly challenging for healthcare payers. Our role is not just to give them the system they need to be successful, but to help them successfully navigate this complex industry.”
$14 Million Investment Round
In June 2013, Aldera raised $14 million from an investor group that included late-stage growth investor ABS Capital Partners, Hughes & Company and SilverStream Capital, an investor in the company’s prior fundraising round. These groups invested in Aldera based on its ability to speed the implementation of core administrative systems, with easier configuration and adaptability than its competition.
Crain’s Chicago Business Profile
Aldera was spotlighted by Crain’s Chicago Business in a feature titled, “How to Build a Better Healthcare Website.” The article pointed to how Aldera is perfectly positioned to capitalize on the post-ACA health insurance market, highlighting how the company is helping to power state-based marketplaces in Kentucky, Colorado and Hawaii, as well as six CO-OPs.
Affordable Care Act Thought Leadership
Aldera has a seat on the front lines of the Affordable Care Act, making it a capable source to educate people on industry changes and the impact of regulations. Starting late last year, Aldera began to share some of its thought leadership with the broader health insurance market. Two notable examples included an article in Healthcare Payer News and Government IT News (“ACA Moonshot Spurs New Spirit of Health Insurance Innovation”), and a piece featuring Aldera’s Vice President of Product Management, Laura Williams, who shared her thoughts on 2014 health insurance technology trends in the Chicago Tribune (“Big Ideas for 2014”).
“The increasingly blurred line between payers, providers and patients makes Aldera’s core administration system and private portal technology appealing to more potential customers than ever before. In fact, we feel it makes the old way of looking at the industry obsolete,” said LeGrange.
Following a closer look at this new environment, Aldera restructured its offering to make it clearer who the company supported. The company now offers its core administration platform, health analytics and portal technology to five customer categories, including Commercial Healthcare Payers and Administrators, Medical Management Information Systems (MMIS), Accountable Care Organizations and Collaboratives (ACOs), CO-OPs and Private and Public Health Insurance Marketplaces and Exchanges.
Aldera (formerly Healthation) outfits healthcare payers and administrators with a flexible, rules-based, and functionally-rich platform that enables them to meet industry challenges, improve business performance and future-proof their organizations. Aldera brings efficacy to core administration across all lines of business in commercial and government markets. Aldera is committed to devising solutions that meet a customer’s current and future business challenges and enable them to grow amidst increased competition and shifting risk. Aldera’s offerings are available via SaaS subscription model in either a cloud-based or client- hosted environment. For more information, please visit Aldera.com, LinkedIn @ linkedin.com/company/aldera_inc, Twitter @ twitter.com/aldera_inc, or call 800-507-3895.