"Recently, a lot of attention has been paid to making individuals better consumers of healthcare, and health insurance in particular. However, in the United States, employers drive most health insurance purchasing decisions and cover the lion's share of healthcare costs," said Ali Diab, co-founder and CEO of Collective Health. "With the backing of investors behind such transformative companies as SpaceX and Workday, and by leveraging the latest in cloud-based software technology, UX design and data science, Collective Health has developed the first self-insurance SaaS platform for American employers to sponsor their employees' healthcare on their own terms, without the need for a traditional health insurance plan."

Collective Health has already demonstrated the remarkable benefits employers can accomplish by switching to its self-funding platform, where member satisfaction scores surpass traditional health insurance industry benchmarks. Collective Health also brings together medical, pharmacy, dental and vision benefits, underpinned by the country's top provider networks, in one platform. This simplifies the administration of self-insured company health benefit plans. Collective Health members and their employers enjoy information based on real-time health claims data, with mobile and web interfaces which provide anytime, anywhere access to health plan information and assistance.

"Collective Health represents a fundamental shift within the health insurance industry, allowing more companies to confidently migrate to self-funded programs for employees," said Mohamad Makhzoumi, Partner and Head of the Healthcare Services and Healthcare IT practice at NEA. "Ali and the team at Collective Health have developed a data-driven technology enabled experience that benefits all parties involved. Employers can minimize the risk that is commonly associated with self-funding, while their employees can take control of their healthcare with excellent UX design and mobile management. I'm overjoyed to partner with Collective Health to change the way companies provide, and employees' access, healthcare."

Source: Steamfeed Admin

Source: Medindia