Picwell Recognized in Gartner's "Cool Vendors in Healthcare Payers, 2015" Report
Company's proprietary analytics identify optimal health plan choice for consumers
PHILADELPHIA, May 26, 2015 /PRNewswire/ -- Picwell, the most advanced predictive recommendation engine for health plan selection, today announced that it has been named as a "Cool Vendor," based on Gartner's April 24, 2015 report, "Cool Vendors in Healthcare Payers, 2015." "The Gartner report highlights those vendors that offer innovative products in support of plan selection, data coordination and medical shopping. Their offerings and business models are leading indicators of emerging dynamics in the healthcare payer market."
The first technology of its kind, Picwell organizes and analyzes more than 900,000 variables that affect plan selection, allowing providers in the health insurance ecosystem to present the most appropriate plans to participants based on their individual needs. Clients who use the technology report greater productivity, improved retention, reduced acquisition costs, and average savings to the consumer of one paycheck per year. Picwell provides differentiation for benefit providers of all sizes by offering a unique value to the consumer and creating a more dynamic marketplace.
"We're honored to be recognized as a Cool Vendor. We believe as a company we are leading the charge in a changing industry as an increasing number of individuals buy health plans independently," said Jay Silverstein, CEO of Picwell. "Our technology is designed to improve the health plan selection process for both the payer and the consumer. It's truly a win-win for all parties involved."
Regardless of how it's purchased, choosing the best health plan for themselves is difficult for consumers. An estimated $10 billion is wasted annually by sub-optimal plan choices in Medicare Part D alone.
"Healthcare payers have a substantial opportunity to apply advanced analytics to the problem of health plan selection, and deliver a better experience – and, ultimately, insurance products better-suited to consumer needs," according to Gartner.
The full "Cool Vendors" report is available from Gartner:
https://www.gartner.com/doc/3037221/cool-vendors-healthcare-payers-
Gartner Disclaimer:
Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
About Picwell
Picwell is the most advanced predictive recommendation engine to enable consumers to select their health plan with confidence. Powering healthcare exchanges and benefits providers, Picwell utilizes proprietary algorithms, Big Data, machine learning and behavioral economics to organize and analyze the more than 900,000 variables that affect plan selection and narrow it to the top plans for each individual. For more information, please visit www.Picwell.com.
Media Contact
Alyson Kuritz
Zer0 to 5ive on behalf of Picwell
908.892.7149
[email protected]
SOURCE Picwell
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