We are excited to offer this robust platform to the growing benefits market, and see immense value for our clients to both reduce their overall healthcare costs and ensure full compliance for their plan. In short, this platform and service helps to ensure that the right benefits are protected for eligible employees and their dependents
Newport Beach, CA. (PRWEB) April 21, 2009
Secova Inc., a leading benefits management and administration solutions provider, announced the release of a sophisticated new Dependent Eligibility Management platform that supports quantitative data analysis on your eligible dependents offering customizable real –time historical reports. This newly enhanced system was custom built for HR professionals who rely on others for administration, employee submission, and the approval/denial of benefits.
Delivering the Promise to Reduce Healthcare Costs and Ensure Full Compliance
“We are excited to offer this robust platform to the growing benefits market, and see immense value for our clients to both reduce their overall healthcare costs and ensure full compliance for their plan. In short, this platform and service helps to ensure that the right benefits are protected for eligible employees and their dependents,” says Venkat Tadanki, CEO at Secova. “Nothing could be more- timely during this slow economic period. Dependent Eligibility Verification is the perfect solution to deliver significant value to health and welfare plans by reducing costs and maximizing employee benefits.”
Some key system enhancements are:
- Electronic Document Verification: A highly configurable rules based engine that determines the validation of an eligibility document, replacing the need for a person to verify the inputted data.
- Automated Redaction System: Captures the data and intelligently recognizes the data meets the requirements of the protection policies.
- User Friendly On-line Self Service Interface: Initiates a full information verification process, including submitting electronic versions of proof documents for both client and employee administrators.
Current Economic Climate Drives Secova to Enhance Dependent Verification Software
According to a recent Towers Perrin Health Care Cost Survey, the average corporate health benefit expenditure in 2009 will be $9,660 per employee. Benefit costs are rising over four times the rate of inflation. Each additional dependent costs on average an additional $4,400 per family, which has significant business impact. Benefit costs are rising over four times the rate of inflation. Cost burden is coming unsustainable, and issues of affordability are the new foundation on how employers manage their health programs.
Secova’s Dependent Eligibility Management platform is the fully hosted solution, built to ensure businesses review and revise their financial commitments and are able to offer evidence that the correct people are receiving benefits coverage. Fortune 500 companies continue to look to Secova as their strategic business partner to provide solutions that can be quickly deployed and can pledge significant decreases in benefit spending.
Secova’s DEM Platform is a software-plus-services solution, built to offer extensive customization capabilities for different client requirements. Secova’s team attracts client interest by providing services which include 24x7 call center support and participant-advocate communications designed to generate the greatest response possible during the verification process.
About Secova: Secova Inc. is based in Newport Beach, Calif., and is a leading technology solutions company focused on the benefits administration and management markets. The Secova management comprises industry veterans who have managed large consulting practices for the healthcare industry. The company has global delivery centers in the U.S and India.
This press release was distributed through eMediawire by Human Resources Marketer (HR Marketer: http://www.HRmarketer.com) on behalf of the company listed above.