Quadrant 4 Announces New Updates to Its Private Healthcare Exchange Platform
The Company Reaffirms Its Target of 2.5 Million Lives Using the qHIX Platform
to Create and Manage Their Healthcare Plans by Year-End 2015
ROLLING MEADOWS, Ill., July 15, 2014 (GLOBE NEWSWIRE) -- Quadrant 4 Health, a
division of Quadrant 4 System Corporation (OTCQB:QFOR) ("Quadrant 4" or the
"Company"), is pleased to announce the release of version 2.0 of its private
healthcare exchange platform (qHIX), which will be demonstrated at the Private
Healthcare Exchanges Conference, sponsored by Employee Benefit News and
Employee Benefit Advisor, both Source Media properties, July 16-17, in
Over the last 12 months, Quadrant 4 Health signed 5 contracts to implement its
healthcare exchange platform, representing 100,000 lives currently under
contract. The Company reaffirms its 2015 year-end target of 2.5 million lives
using the qHIX platform to create and manage their healthcare plans by
Quadrant 4 is leading the charge for managing the complex and almost ever
changing healthcare landscape through its private exchange platform which
manages all elements of a health exchange. With its proprietary marketplace,
individual consumers or employees of companies of all sizes can compare,
purchase, enroll, and manage their health insurance needs.
Results from a December 2013 survey conducted by the Private Exchange
Evaluation Consortium, whose members include PwC and multiple employer groups,
showed that 45% of employers will be using private health exchanges by 2018.
According to Forbes contributor Paul Howard, "Accenture even predicts that by
2018, enrollment on private health insurance exchanges could outpace
enrollment on public exchanges.(Financial analysts including Goldman Sachs,
William Blair, and others project similar growth results.)" ("Private Health
Insurance Exchanges Unleash 'TransformationalChange'"
Private healthcare exchanges are now enrolling members from blue-chip
companies such as Walgreen (WAG) and Sears (SHLD), but also employees from
thousands of small businesses. Quadrant 4 has already enrolled 100,000 members
on its healthcare exchange platform and is now finalizing over 20 new private
healthcare exchanges for businesses across the U.S.
The Company's qHIX exchange platform encompasses features and functions for
managing every single aspect of a private exchange. This includes employers,
employees, consumers, agents and brokers, health plans, insurance companies,
third-party administrators, payroll service providers, and our exchange
"With the release of qHIX 2.0, we have made several enhancements based on
feedback from clients, employers, brokers, and administrators on where we
believe the market is going and what the industry needs to be successful,"
stated Robert Steele, president of Quadrant 4 Health. "The latest upgrades
further strengthen our leadership position in the changing healthcare
insurance landscape, as we help employers and employees shop for a wide
variety of benefits with ease and convenience."
The major enhancements include:
*An engagement framework with enhanced consumer experience, including our
proprietary "Reach and Teach" methodology for meeting employees and
consumers where they are, on the device they know and trust, with the
information they need to make critical healthcare and benefit decisions;
*Marketplace that supports both individual and group options including
employee choice and employer choice with both defined benefit and defined
*Full range of product features with mature benefit administration business
rules that will manage either benefits administration, private exchange,
or a hybrid of the two, through a single platform;
*Payment gateway that allows for both payroll deduction or direct payments
by employees and consumers through PayPal, ACH, monthly billing, credit
cards and debit cards;
*Mobile app for employee/consumer, employer, and administrator
administration for iOS and Android platforms.
Quadrant 4 Health is an exhibitor and sponsoring the conference attendee bags
for the Private Healthcare Exchanges Conference, July 16-17, at the Swissotel
in Chicago, IL. At the conference, Quadrant 4 Health will demonstrate the new
capabilities of qHIX 2.0 while showcasing its current exchange clients
preparing for the upcoming open enrollment season of www.healthcare.gov.
About Quadrant 4 System Corporation
Quadrant 4 System is a leading Platform-as-a-Service (PaaS) and
Software-as-a-Service (SaaS) company. The Company develops, implements, and
operates PaaS and SaaS systems, including qHIX for the health insurance
markets; qBLITZ for the digital media business; and qSKU for retailers. These
platforms have a built in proprietary set of SMAC (social media, mobility,
analytics and cloud computing) components and focus on providing solutions for
Fortune 500 companies. Please visit www.qfor.comfor further information.
CONTACT: Investor Relations
RedChip Companies, Inc.
Mike Bowdoin, 800-733-2447, ext. 110
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