MINNEAPOLIS--(BUSINESS WIRE)--By staying true to its mission to simplify the business of healthcare, Evolution1® – the nation’s largest electronic payment, on-premise, and cloud computing healthcare solution – solidified its leadership position in 2013 in terms of growth and services:
- 1Cloud by Evolution1® facilitated billions of dollars in reimbursements and processed more than 66 million claims.
- Evolution1 Benchmark Scorecard results for 2013 revealed that top quartile Evolution1 Partners grew an average of 84 percent, outpacing their industry peers once again.
- In each of the high-growth markets of HSA, HRA, and Wellness, Evolution1 account volumes grew by 40 percent.
- The company’s FSA growth continues to outpace the market, and momentum continues to build with its new FSA rollover opportunity.
- Activations of 1Mobile by Evolution1® increased more than 100 percent in 2013.
- The number of consumers on Evolution1 platforms grew by 33 percent.
- On average, Evolution1 processes more than 14 million transactions per hour, 365 days a year.
- Evolution1 powers more than 20 private exchange solutions with its Defined Contribution solution, 1Plan by Evolution1®.
“These achievements are a result of our Partners’ hard work, dedication, and determination,” said Jeff Young, chairman and CEO of Evolution1. “The success that we are experiencing at Evolution1 is a direct result of the success our Partners are having. The healthcare benefits market is both incredibly dynamic and filled with opportunity, and we will continue to invest, partner, and innovate to ensure that our Partners are in the best position possible to win in the marketplace.”
The enhancements, features, and functionality of the company’s latest 1Cloud by Evolution1® release underscore Evolution1’s leadership as a visionary in the world of consumer directed healthcare as well as its increased investment in technology and R&D. The solution – which includes more than 200 new features delivered in the last year – concentrates on consumer simplicity and employer flexibility:
Simplified User Interface. Enhancements to the Consumer Portal interface of 1Cloud give users even greater ease of use and convenience, including customizable “I want to” buttons that provide faster access to frequent actions and tasks. Evolution1 worked with its Partners as well as focus groups, employers, and consumers to gather feedback and augment this “best in class” user experience.
Simplified View of Healthcare Spending. Consumers now have access to a consolidated, simplified view of total healthcare out-of-pocket expenses with the new industry-leading 1View by Evolution1® online dashboard. Unlike anything else available in the market today, 1View helps consumers easily understand healthcare costs and make informed decisions on future healthcare spending, which ultimately leads to a more engaged and prepared consumer.
Simplified Mobile Experience. Consumers can now, directly from the 1Mobile by Evolution1® app, quickly: report a lost or stolen debit card, reset/change passwords, and more. Additionally, “Quick View” charts, similar to those provided on the Consumer Portal home page, allow consumers to view contributions-to-date, HSA contributions by tax year, elections, and paid claims by category, making it quick and easy for consumers to check their numbers.
Simplified Administration. The sophisticated adjustment capabilities of 1Cloud – which ensure that the participant receives the maximum reimbursement amount for every claim, regardless of the date(s) of service or the order that the claims are submitted – make 1Cloud the best solution in the industry to handle FSA rollover.
Over the past year, Evolution1 received a number of prestigious awards and recognitions, including the Inc. 500|5000, Deloitte’s Technology Fast 500™, the MobileVillage “Shining Star” Mobile Star Award, the ICH Superstar Award, Modern Healthcare’s “Healthcare’s Hottest” award, the Paybefore Award, and the Marcum Tech Top 40 award.
Evolution1 continues to build key relationships, signing multi-year partnerships with large health plans, banks, payroll providers, private exchanges, and leading third-party administrators – including Alliance Benefit Group North Central States, Inc., Blue Cross Blue Shield of Wyoming, CieloStar, Employee Benefit Specialists, Inc., HealthSmart Benefit Solutions, Paychex, Sanford Health Plan, SeeChange Health Solutions, and dozens more – that have selected Evolution1 as their strategic platform of choice and join a growing group of market-leading Partners.
Together with its Partners, Evolution1 serves third-party administrators, financial institutions, health plans, and software providers across the country, providing healthcare and other reimbursement account services to more than 90,000 employers and more than 10,000,000 consumers. Evolution1 Partners will gather April 2-4 at Disney World Dolphin Resort in Orlando, Florida for Partner Conference 2014, the industry’s go-to event.
At Evolution1®, we simplify the business of healthcare. We do that through innovative healthcare software and payment solutions that administer and manage consumer directed accounts. Together with our network of Partners, we take the complexity out of Defined Contribution, HSAs, HRAs, FSAs, VEBAs, PRAs, wellness plans, and transit plans.