New partnership provides Alegeus Technologies’ 25 million consumers with access to CoPatient’s expert negotiators and money-saving technology platform.
Boston, MA, May 6, 2015- CoPatient, the consumer’s trusted healthcare advisor, today announced a partnership with Alegeus Technologies, the market leader in consumer directed healthcare solutions. By finding and correcting medical billing errors, CoPatient allows Alegeus consumers to manage and minimize healthcare expenses in real time and maximize the value of their healthcare benefits in the most responsible way.
This partnership is the first time that a medical bill review company will be tied in with a consumer and employer data healthcare funding platform. CoPatient will be a resource for Alegeus consumers to clarify and validate complex medical bills. Employers with HDHPs will benefit from the expert advocacy services with higher member satisfaction with benefits while lowering administrative costs and minimizing dollar loss. A consumer can now utilize CoPatient through Alegeus by opting to have a medical bill reviewed before they approve HSA funds to pay it.
The US healthcare system is shifting towards individual responsibility for healthcare costs – causing a rapid increase in consumer out-of-pocket healthcare responsibilities. However, recent Alegeus research has affirmed that consumer comfort and fluency regarding healthcare costs, coverage, and billing is still very low. Only 37% of consumers feel that medical bills are easy to understand – and, when paying for medical expenses, less than half of consumers are confident that they are paying the right amount.
“We saw this partnership as an opportunity to enable Alegeus’ 25 million consumers and 179,000 employer groups to take more control over their healthcare spending. CoPatient’s deeply integrated tools enable the consumer to manage their healthcare spending in the most responsible way,” said Rebecca Palm, CoPatient cofounder. “Alegeus has an exceptional platform for consumer directed healthcare. By partnering, we are creating alignment between consumers and their health plans in reducing healthcare costs.”
“With consumer healthcare liabilities rapidly increasing, consumers need better tools and support to ensure that they are optimizing their healthcare spending and maximizing their healthcare savings. Many consumers lack the fluency to sufficiently scrutinize healthcare expenses and advocate on their own behalf,” said John Park, Chief Strategy Officer at Alegeus. “Advocacy services, such as those that CoPatient provides, give consumers tools to play a more active role in their healthcare – breaking the cycle of passive ‘auto-payment’ of healthcare expenses.”
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About CoPatient
CoPatient’s mission is to become the consumer’s trusted advisor for managing and minimizing healthcare expenses. CoPatient uses crowd-sourced data and a technology driven solution to identify billing errors and overcharges. By providing a personal Patient Advocate, CoPatient will help patients correct mistakes and start saving money right away. Phone: (888) 702-2330. Web: www.copatient.com.
About Alegeus Technologies
Alegeus Technologies is the market leader in consumer directed healthcare solutions, offering the industry’s most comprehensive platform for the administration of healthcare benefit accounts (including FSAs, HSAs, HRAs, wellness incentive, dependent care, and commuter accounts), the industry’s most widely-used benefit debit card, and powerful engagement solutions to help consumers maximize savings and optimize spending for their healthcare. Over 450 clients – including health insurance plans, third party administrators and financial institutions – leverage Alegeus’ deep expertise and proven technology to administer benefit accounts for more than 26.4 million members and process more than $8.4 billion in consumer healthcare payments annually. As the healthcare and benefit markets continue to evolve, Alegeus delivers solutions that enable clients to evolve their service offerings, operate their businesses more efficiently, and focus on their customers. The company is headquartered in Waltham, MA with operations in Orlando, FL and Milwaukee, WI. To learn more about Alegeus, please visit: www.alegeus.com.