Just like patient data is held in various silos through the health system, so is employee data siloed in large businesses. That poses some challenges when it comes to meeting administrative and communication requirements for employers mandated by the Patient Care and Affordable Care Act (for example, automatically enrolling qualified employees in the company’s health plan).
A Minnetonka, Minnesota software startup called HealthCare Impact Associates LLC has a solution it thinks can take the place of costly upgrades to existing human resources, payroll and benefits management systems that would help companies comply with the new requirements.
The product, called Health E(fx), integrates data from a company’s existing IT systems, provides historical and predictive cost analytics to support companies’ decisions about their health plans, and enables the necessary reporting. It also alerts companies when they are not being compliant with ACA measures, the company says.
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HealthCare Impact Associates has just raised $2 million in preparation for the commercial launch of the cloud-based solution this June. Beta tests have been running since February, the company says, and will continue through the spring and early summer.
