BIRMINGHAM, Ala.--(BUSINESS WIRE)--As organizations increasingly seek out solutions to control health care costs for their businesses and for their employees, DirectPath today announced that it has expanded its client base by more than 100 percent year over year. As the company prepares for its next phase of growth, it has appointed former chairman Michael Byers as chief executive officer, Lori Dustin to chief commercial officer and Brian Stana to chief financial and compliance officer. Bart Yancey will transition to president of engagement.
More than 1,000 organizations have used DirectPath’s employee engagement, health care transparency and compliance services to devise and execute health care benefits strategies that deliver increased ROI on their health care investments, reduce out-of-pocket health care spend for their employees and efficiently ensure compliance in an evolving regulatory climate. DirectPath this year unveiled two new technologies to enhance its solution set:
- Cost Estimator, offered through DirectPath’s transparency services, enables employees at client organizations to estimate in-network, out-of-network and episode-of-care costs by CPT code for procedures based in a geographic area. As a result, they’re able to make more informed, cost-conscious decisions about medical treatments – ensuring they receive the right care while containing costs for themselves and for their employers.
- The Interactive Benefits & Compliance solution empowers clients to more effectively communicate critical plan information to employees. Through DirectPath, employers can transition Summary Plan Descriptions (SPDs) into Interactive Document Solution (IDS) formats, which allow employees to access the content at any time and in any place and share the content with dependents. Employers can also use the solution to update SPDs in real time, adding links to benefits-related resources and documents. By analyzing data related to employee usage and clicks, DirectPath clients can determine the appropriate cadence of employee benefits communications and what topics to focus on. They can also save significantly on printing health care benefits-related materials; in the past year, DirectPath has helped clients reduce costs by $1 million.
As DirectPath continues to deliver value to its employer clients – both in terms of business savings and enhanced employee benefits satisfaction – it is committed to growing its employee base to meet booming demand. Since January 2017, DirectPath has increased its employee headcount by 50 percent, and plans to hire across the organization in the year ahead.
“The health care industry is at an inflection point,” said Byers. “More than ever before, we’re seeing a call for health care transparency and literacy. Individuals and businesses alike are calling for more information about their health care options and the costs associated with those options. We have a real opportunity to address these calls with our comprehensive suite of employee education, health care transparency and compliance services. I look forward to enabling DirectPath to benefit more organizations, and their employees, in the months and years ahead.”
Byers, who served as CEO and president of HighRoads for 10 years before becoming executive chairman at DirectPath, offers vast experience overseeing strategic corporate initiatives, operations and culture. Under his leadership, he transformed HighRoads from a traditional software company to a pure SaaS organization, and increased the number of enterprise clients from a handful to almost 20 percent of the Fortune 500. Before that, Byers held C-level positions at Centive and NuMega Technologies Inc., where he negotiated the sale of the company to Compuware (NASDAQ; CPWR) for $150 million.
For more information on Byers and DirectPath, please visit the company website.
DirectPath is an industry leader in strategic employee engagement, health care transparency and compliance for Fortune 1000 employers. Its customers experience significant ROI on their benefits investments through increased employee participation, management of the evolving regulatory environment and reduced cost through efficient benefits plan management technology. For more information, visit the DirectPath website and follow the company on Twitter.