functions (analytics and other intellectual services) that afford healthcare insurers access to high value skills and a wider pool of in-demand resources.
Orlando, FL (Vocus) August 22, 2009
As the economy continues to contract, employers are reducing or dropping workers' group health coverage. This is making individual consumers become more involved in the health insurance decision-making process, as well as carry greater responsibility for their own wellness. In order to stay competitive in this new healthcare economy, these factors are driving health insurance companies to seek new tools and strategies to help them attract, retain and service their members.
Connextions Inc.'s marketing application and business process outsourcing (BPO) strategies are based on a deep understanding of the healthcare industry, as well as partnerships with several major U.S. health plans. They deliver technology-based and human solutions necessary for plans to successfully and seamlessly build an integrated approach to member acquisition, retention and service.
For one major health plan client, Connextions increased the sales lead-to-application conversion by nearly 65 percent and the average member retention save rate by more than 50 percent while also reducing training and implementation times.
Gartner, Inc. has identified Connextions as a sample vendor in the Marketing Applications and the Business Process Outsourcing (BPO) for Market-Differentiating Functions categories in its recently released "Hype Cycle for Healthcare Payers, 2009" report.
Connextions designs and manages flexible programs - driven by its proprietary bConnected technology - that are tailored to help health insurance plans grow, retain and serve individual and small group members.
Since 1995, Gartner has used "Hype Cycles" as a representation of the maturity, adoption and business application of specific technologies.
In the 2009 report, Gartner Principal Research Analyst Maureen O'Neill described BPO for Market-Differentiating Functions as "functions (analytics and other intellectual services) that afford healthcare insurers access to high value skills and a wider pool of in-demand resources."
"BPO for market-differentiating processes focuses on gaining access to highly skilled resources that can provide opportunities to grow and transform the business," Ms. O'Neil wrote.
Gartner Vice President Joanne Galimi described Marketing functions as those that "…enhance a healthcare insurer's ability to segment, target and provide more-relevant content to frontline personnel, partners and customers."
"To remain competitive, healthcare insurers must focus on leveraging marketing strategies and technologies to cross-sell and upsell to consumers," Ms. Galimi wrote.
In response to Connextions' inclusion in the 2009 Gartner report, CEO Jack LeFort said, "Our strategies and deep commitment to the healthcare industry are producing industry-leading results and differentiating health plans among all demographics of consumers in the marketplace."
For information on how Connextions can deliver higher conversion rates, lower the cost of sales and improve member retention, please contact Rob Panepinto, Managing Director, Client Practice Group, at 407-926-2405, or rpanepinto(at)connextions(dot)com.
Connextions Inc. is a technology-based business process outsourcing firm with broad expertise in the healthcare industry, assisting well-known health insurance plans and healthcare providers in their efforts to attract, transact with, and retain members. Connextions is a privately held company and part of the New Mountain Partners II, L.P. portfolio, a private equity fund sponsored and managed by Manhattan-based New Mountain Capital LLC.
About the Hype Cycle
The Hype Cycle is copyrighted 2009 by Gartner, Inc. and its affiliates and is reused with permission. Hype Cycles are graphical representations of the relative maturity of technologies, IT methodologies and management disciplines. They are intended solely as a research tool, and not as a specific guide to action. Gartner disclaims all warranties, express or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
About Connextions Inc.:
Founded in 1992, Connextions' more than 2,500 professionals provide technology-based business solutions for a long list of America's best-known corporate and healthcare organizations, including Kaiser-Permanente and CVS Caremark, FedEx, Sprint, Olympus, among others. See http://www.connextions.com.
About New Mountain Capital:
New Mountain Capital, LLC is a New York-based private equity firm investing for long-term capital appreciation through direct investment in growth equity transactions, leveraged acquisitions and management buyouts. New Mountain seeks out the highest quality growth leaders in carefully selected industry sectors, and then works intensively with management to build the value of those companies. See http://www.newmountaincapital.com.
For additional information:
Ellen D. Hosafros
Marketing Communications Manager
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