|[March 24, 2014]
Evolution1 Solidifies Position as Industry Leader
MINNEAPOLIS --(Business Wire)--
By staying true to its mission to simplify the business of healthcare,
- the nation's largest electronic payment, on-premise, and cloud
computing healthcare solution - solidified its leadership position in
2013 in terms of growth and services:
by Evolution1® facilitated billions of dollars in
reimbursements and processed more than 66 million claims.
Evolution1 Benchmark Scorecard results for 2013 revealed that top
quartile Evolution1 Partners grew an average of 84 percent, outpacing
their industry peers once again.
In each of the high-growth markets of HSA, HRA, and Wellness,
Evolution1 account volumes grew by 40 percent.
The company's FSA growth continues to outpace the market, and momentum
continues to build with its new
FSA rollover opportunity.
Activations of 1Mobile
by Evolution1® increased more than 100 percent in 2013.
The number of consumers on Evolution1 platforms grew by 33 percent.
On average, Evolution1 processes more than 14 million transactions per
hour, 365 days a year.
Evolution1 powers more than 20 private exchange solutions with its
Defined Contribution solution, 1Plan
"These achievements are a result of our Partners' hard work, dedication,
and determination," said Jeff
Young, chairman and CEO of Evolution1. "The success that we are
experiencing at Evolution1 is a direct result of the success our
Partners are having. The healthcare benefits market is both incredibly
dynamic and filled with opportunity, and we will continue to invest,
partner, and innovate to ensure that our Partners are in the best
position possible to win in the marketplace."
The enhancements, features, and functionality of the company's latest 1Cloud
by Evolution1® release underscore Evolution1's leadership
as a visionary in the world of consumer directed healthcare as well as
its increased investment in technology and R&D. The solution - which
includes more than 200 new features delivered in the last year -
concentrates on consumer simplicity and employer flexibility:
Simplified User Interface. Enhancements to the Consumer Portal
interface of 1Cloud give users even greater ease of use and convenience,
including customizable "I want to" buttons that provide faster access to
frequent actions and tasks. Evolution1 worked with its Partners as well
as focus groups, employers, and consumers to gather feedback and augment
this "best in class" user experience.
Simplified View of Healthcare Spending. Consumers now have access
to a consolidated, simplified view of total healthcare out-of-pocket
expenses with the new industry-leading 1View
by Evolution1® online dashboard. Unlike anything else
available in the market today, 1View helps consumers easily understand
healthcare costs and make informed decisions on future healthcare
spending, which ultimately leads to a more engaged and prepared consumer.
Simplified Mobile Experience. Consumers can now, directly from
by Evolution1® app, quickly: report a lost or stolen
debit card, reset/change passwords, and more. Additionally, "Quick View"
charts, similar to those provided on the Consumer Portal home page,
allow consumers to view contributions-to-date, HSA contributions by tax
year, elections, and paid claims by category, making it quick and easy
for consumers to check their numbers.
Simplified Administration. The sophisticated adjustment
capabilities of 1Cloud - which ensure that the participant receives the
maximum reimbursement amount for every claim, regardless of the date(s)
of service or the order that the claims are submitted - make
1Cloud the best solution in the industry to handle FSA rollover.
Over the past year, Evolution1 received a number of prestigious awards
and recognitions, including the Inc.
500|5000, Deloitte's (News - Alert) Technology Fast 500™, the MobileVillage
"Shining Star" Mobile Star Award, the ICH Superstar Award, Modern
Healthcare's "Healthcare's Hottest" award, the Paybefore Award, and the
Marcum Tech Top 40 award.
Evolution1 continues to build key relationships, signing multi-year
partnerships with large health plans, banks, payroll providers, private
exchanges, and leading third-party administrators - including Alliance
Benefit Group North Central States, Inc., Blue Cross Blue Shield of
Wyoming, CieloStar, Employee Benefit Specialists, Inc., HealthSmart
Benefit Solutions, Paychex, Sanford Health Plan, SeeChange Health
Solutions, and dozens more - that have selected Evolution1 as their
strategic platform of choice and join a growing group of market-leading
Together with its Partners, Evolution1 serves third-party
administrators, financial institutions, health plans, and software
providers across the country, providing healthcare and other
reimbursement account services to more than 90,000 employers and more
than 10,000,000 consumers. Evolution1 Partners will gather April 2-4 at
Disney (News - Alert) World Dolphin Resort in Orlando, Florida for Partner
Conference 2014, the industry's go-to event.
At Evolution1®, we simplify the
business of healthcare. We do that through innovative healthcare
software and payment solutions that administer and manage consumer
directed accounts. Together with our network of Partners, we take the
complexity out of Defined Contribution, HSAs, HRAs, FSAs, VEBAs, PRAs,
wellness plans, and transit plans.
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