Flume Launches Flume OS Health-Plan-as-a-Service for New Wave of Disruptor Health Plans

NEW YORK, Dec. 15, 2021 /PRNewswire/ -- Flume Health today announced the release of Flume OS, a programmatic platform that eliminates the complexity of designing and managing healthcare plans. Firefly Health and Radion are the first to implement this innovative Health-Plan-as-a-Service model that connects the right stack of providers and incentives to the right patients. With Flume OS, digital health startups are now able to eliminate the administrative burden and complexity of running modern, tailored health benefits and bring highly-configurable insurance plans to market in record time.

In most efficient markets, buyers are given a wide range of options and allowed to choose the exact product or service that meets their needs. Yet in health insurance, one of the most important purchases in peoples' lives, buyers (employees) most often must choose from just three health plan tiers. They are offered no flexibility, and even incur penalties if they need services not covered by these one-size-fits-all plans. As workers now contemplate and compare career opportunities during the great return, companies that can offer greater health plan control and flexibility may be at a distinct hiring advantage.

Digital health challengers are upending one-size-fits-all insurance policies offered by legacy carriers. A new wave of modern health plans are meeting the specific needs of a workforce or market segment with specialty providers and incentives that can serve all employees and their dependents. For example, why should a CPA firm and a construction company have to offer the exact same health coverage plan? Or what if national retailers offered personalized plans focused on meeting the needs of diabetics to their 300,000+ employees? Customized plans can include more local provider options, specific health conditions, or even coverage that addresses culture and identity.

"Consumers will soon pick from hundreds of health plans, each personalized to their unique health and preferences," said Cedric Kovacs-Johnson, founder and CEO of Flume Health. "We understood early on the complexities this would create, and saw an opportunity to take on the role of insurance company by adjudicating claims, storing sensitive data, initiating all payments—all guided by a proprietary rules engine that serves as the foundation of our TPA Health-Plan-as-a-Service."

Over the past several years, Flume has been building an operating system that functions similarly to an API to connect the right stack of providers and incentives with the right patient. As proof-of-concept for the Flume OS technical infrastructure, Flume has also historically offered its own health plan. It's new Health-Plan-as-a-Service was purpose-built to take on the difficulties of delivering and managing a next-generation health plan so that customers can focus on serving their members with a better overall experience.

Health plans built on the Flume OS platform can take advantage of:

• The Flume Core: Payments, claims, eligibility, contract management, compliance and reporting - all in one managed platform.
• Workflow Engine: Enables real-time actions such as trigger events, conditional logic, dynamic affect adjudication, webhooks, engagement—in a no-code environment.
• APIs, webhooks, and EDI: Highly flexible real-time trading with platform customers, vendors, providers.
• Member & Client Services: Turnkey customer-facing services or in-house member app and support integration to give a 10x better member experience.

"Flume has vastly accelerated our path to market. Without it, we couldn't have launched our health plan in less than a year," said Fay Rotenberg, Firefly Health CEO. "The rapid launch of the Firefly Health Plan has enabled our mission to deliver health care that's twice as good at half the price."

For more information about Flume OS, please visit www.flumehealth.com.

About Flume Health
Flume Health is the first digital platform for health plan administration, replacing traditional TPAs and empowering challenger and incumbent healthcare companies to design and launch powerful next generation, personalized health plans. A Health-Plan-as-a-Service, Flume eliminates the complexity of designing, managing, and launching personalized healthcare plans. Companies can leverage Flume's Health-Plan-as-a-Service operating system to take on the difficulties of delivering personalized health plans, allowing plan providers to focus on member experience. For more information, visit www.flumehealth.com.

Media contact:
[email protected]

SOURCE Flume Health

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