hCentive, Inc., based out of Reston, Virginia, is a software development specializing in cloud-based products for health insurers and state health agencies. It was the first company to build a health insurance exchange solution from the ground-up post the Affordable Care Act (ACA).
hCentive is involved in the development of state and private health insurance marketplaces (exchanges) for state organizations, health insurance providers, companies and third party administrators. It works with three of the top five health insurance organizations in the US.
About 125 employees of hCentive work at the corporate headquarters. The rest of the company's employees are based at the Indian R&D center.
Video HCentive
History
hCentive was founded in 2009 by Sanjay Singh, Manoj Agarwala and Tarun Upadhyay. They started their activities before the Affordable Care Act became law, expecting that it would create the new market.
The idea of founding the hCentive company emerged from concepts of the ACA when health care reform was being debated in the United States Congress.
Maps HCentive
Management
The company's strategy is driven by Sanjay Singh, a software engineer who emigrated from India. In 2000 Singh co-founded GlobalLogic, a software services company in Vienna, Virginia. Over the next fourteen years, it grew to over 7,000 employees.
Products and services
The WebInsure State is a cloud-hosted solution for state-based health insurance exchanges developed in compliance with the PPACA and CMS guidelines. It contains all necessary portals for individuals, agents, financial management, enrollment services, etc. The states of New York, Colorado and Kentucky have chosen WebInsure State for their state health insurance marketplaces.
The company also offers products for private market:
- the WebInsure Private Exchange solution, a cloud-based solution for health plans, TPAs and dental plans;
- the WebInsure Exchange Manager for integration between health insurance exchange, health insurance providers and other related parties
In August, 2013, Geisinger Health Plan (GHP), a health insurance provider, began cooperation with hCentive to implement health insurance exchange integration and private exchange solutions.
Awards & Recognitions
hCentive's rapid growth netted it a rank of No. 62 on the Deloitte Technology Fast 500 in North America, No. 117 on the Inc. 5000 2014 list and No. 12 on the Washington Business Journal Fast 50 in 2015. hCentive's technology platforms and solutions allow U.S. government agencies, insurance carriers and brokers to offer health insurance and health exchange benefits to consumers and businesses through reliable and easy-to-use marketplaces.
For the Washington Business Journal Fast 50 list, the company must have a minimum of $2 million in revenue in 2011 and reach $10 million in revenue by 2013 -- without dipping in between those years.
Companies eligible for the Deloitte Technology Fast 500 recognition must be headquartered in North America, have been in business for at least four years, and reported FY 2011 operating revenues of at least $50,000 and FY 2014 revenues of at least $5 million.
hCentive is also ranked No. 19 among Virginia-based companies and was ranked No. 117 on the Inc. 5000 2014 list, an exclusive ranking of the nation's fastest-growing private companies. hCentive offers state government agencies, brokers and carriers reliable and easy-to-use benefits marketplace solutions that are compliant with Patient Protection and Affordable Care Act of 2010 (PPACA) guidelines.
References
External links
- Official website
Source of article : Wikipedia
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