CHARLESTON, S.C., March 12, 2020 /PRNewswire/ -- Benefitfocus, Inc. (NASDAQ: BNFT), a leading cloud-based benefits management platform and services provider, announced today it will offer its customers access to a resource center devoted to the coronavirus (COVID-19) and its impact on their benefits-related operations and communications. The COVID-19 Resource Center consolidates government data, proprietary information, communications tactics and tools, a community forum, and access to third party sources in a single location to provide customers with timely information, insight, and shared experiences to help deal with the pandemic.
As a leader in health claims data integration and analysis, Benefitfocus provides this unique utility within its platform as a means of enabling customers to benefit from the broadest field of vision regarding medical claims activity.
Benefitfocus also announced it has added functionality to identify and monitor the newly added ICD-10 code for COVID-19 to its claims data analysis solution. Customers will be able to track reported COVID-19 related health utilization as it relates to their employee populations.
"Helping customers with the health and well-being of their employees is at the core of what we do and this has never been more relevant than today," said Ray August, President & CEO of Benefitfocus. "By integrating public health data and our proprietary insight, we can help our customers make better informed decisions during this pandemic."
The Resource Center, which will be accessible only to Benefitfocus customers, will present the latest data on reported cases of the virus from the Centers for Disease Control and Prevention (CDC), the locations of a customer's employee population and offer correlations to broader health claims trends. This helps customers to easily identify how to direct their COVID-19 response activity on a daily basis.
The Resource Center will provide direct access to pre-configured employee communications that can be personalized by each customer and delivered via the Benefitfocus platform. The library of pre-written COVID-19-specific "Smart Moments" will offer employers pre-written email communication drafts that can be customized to include messaging relevant to targeted segments of their employee population, based on integrated health care claims information.
In addition to the significant information provided by Benefitfocus, customers may also contribute and collaborate, learning from the shared experiences of their peers and trusted third parties. The Resource Center includes a community forum in which the customer community can share information and questions to enable them to benefit from the experiences and expertise of their many peers found across the Benefitfocus ecosystem. Customers will also find a collection of sources providing news and guidance on COVID-19, along with Actions & Insights provided by Benefitfocus thought leaders and our partners.
Benefitfocus' response team will update the COVID-19 Resource Center on a daily basis – adding new information, capability and components, as available.
Smart Moments, including, but not limited to, text, graphics, images and other material contained in any communication or within the Benefitfocus platform are for informational purposes only, intended to promote consumer understanding and knowledge of various health topics. Smart Moments are not intended to be a substitute for professional medical advice, diagnosis or treatment. Consumers should always seek the advice of a physician or other qualified health care provider with any questions they may have regarding a medical conditions or treatment; and before undertaking a new health care regimen. You should not disregard professional medical advice or delay in seeking treatment because of communication you have received from Health Smart Moments.
In addition to the Resource Center, current Benefitfocus customers utilizing the claims data analysis solution will be able to realize the effect of COVID-19 as claims are integrated into the solution. Benefitfocus has equipped its reporting and analysis application to be able to report on claims resulting from the new ICD-10 code for COVID-19 as well as additional coding guidance from the CDC. With this capability, customers can actively monitor COVID-19 health utilization, trends and costs to help assess impact on employee and member populations.
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Benefitfocus (NASDAQ: BNFT) unifies the entire U.S. benefits industry on a single technology platform to protect consumers' health, wealth, property and lifestyle. Our powerful cloud-based software, data-driven insights and thoughtfully-designed services enable employers, insurance brokers, carriers and suppliers to simplify the complexity of benefits administration and deliver a world-class benefits experience. Learn more at www.benefitfocus.com, LinkedIn and Twitter.
Except for historical information, all of the statements, expectations, and assumptions contained in this press release are forward-looking statements. Actual results or performance might differ materially from those explicit or implicit in the forward-looking statements. Important factors that could cause actual results to differ materially include: the need to innovate and provide useful products and services; the immature and volatile nature of the market for our products and services; privacy; security and other risks associated with our business; risks related to changing healthcare and other applicable regulations; our ability to compete effectively; management of growth; our ability to maintain our culture and recruit and retain qualified personnel; and the other risk factors set forth from time to time in our SEC filings, copies of which are available free of charge within the Investor Relations section of the Benefitfocus website at http://investor.benefitfocus.com/sec-filings or upon request from our investor relations department. Benefitfocus assumes no obligation and does not intend to update these forward-looking statements, except as required by law.
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