SUNNYVALE, Calif.--(BUSINESS WIRE)--HealthExpense has been selected by Sterling Health Services Administration (Sterling HSA) to provide its medical claims turnkey solutions for business clients of Sterling. The Sunnyvale-based company provides an automated medical expense management system that reduces administrative hassles for employers and their employees, makes medical costs easily transparent and provides recommendations for treatment options to patients. Sterling will introduce the service to its clients in early Q3 2012.
HealthExpense enables employees and dependents to automatically manage their healthcare expenses in one place, including, tracking deductibles and out-of pocket expenses. The company’s turnaround time for claims payments and reimbursements can be as short as three days. “This is 10 times faster than industry averages,” said Vineet Gulati, CEO of HealthExpense.
The technology also makes medical costs transparent so that patients have a better understanding of their bills and it provides personalized, targeted information designed to improve an employee’s access to healthcare and benefit from better outcomes.
“Sterling values easy access to data that enables consumers to make informed decisions about healthcare expenses,” said Cora M. Tellez, CEO of Sterling HSA. “By introducing the HealthExpense service to our clients, they will have additional tools to accomplish that goal. We look forward to launching this service in early Q3 2012.”
Sterling HSA specializes in administering health savings accounts (HSAs), health reimbursement arrangements (HRAs), flexible benefit plans (FSAs), premium only plans (POPs) and COBRA. Founded in 2004, Sterling was a pioneer in the HSA industry and is considered to be among the top HSA administrators in the country today. Sterling recently launched a self-insurance product offering through its new company, Sterling Self Insurance Administration (Sterling SIA) to provide level funding and traditional self-insurance plans, combined with consumer directed health plans, innovative wellness programs, and pharmacy benefits.
Emails, texts and mobile apps notify employees of healthcare opportunities
“Our platform allows us to analyze claims data to identify and notify employees when they are missing opportunities to fill gaps in their care, “ said Gulati. “For instance, with our program, we can notify employees via email, texts or a mobile app that they are due for their annual preventive check-up or we can remind them to get a flu shot before winter begins.” Gulati stressed that the company is HIPAA compliant and never sees any clinical information; its programs are based only on quantitative claims data.
“Our goal at HealthExpense is to enable employers and their employees to make informed healthcare choices that ultimately result in lower healthcare costs for employees and reduced long-term health benefit costs for employers,” said Gulati. “Helping employees better manage their costs and claims, recommending timely next-steps for preventive healthcare, and offering cost transparency are steps to achieving this.”
HealthExpense is a Sunnyvale. CA based company that provides employers with an automated medical expense management and healthcare decision support system that reduces healthcare costs for employers and their employees. Vineet Gulati, founder and CEO, has more than 20 years of experience in the healthcare and pharmaceutical industries. Prior to founding HealthExpense, he led the Pharmaceutical Consulting Practice in the Western region for Capgemini, a global leader in consulting, technology, outsourcing and professional services. He grew the business from $3 million in 2002 to $45 million in 2006. Gulati has a Bachelor of Commerce degree in Accounting and Finance from the University of Delhi, India, and he is a Chartered Accountant certified with the Institute of Chartered Accountants in England and Wales, UK.