Market Overview

RISARC CEO Richard Stephenson – New Multi-state Health Insurance Plans Will Advance Secure, Digital Record Exchange


Nationwide insurance plans will speed up innovation and deliver meaningful savings in healthcare for the American people.

Burbank, CA (PRWEB) October 31, 2012

Richard Stephenson, CEO and Founder of RISARC, a leading national provider of high-technology and revenue recovery solutions to the U.S. health care industry, foresees that secure digital record exchange in the healthcare industry will advance under the new multi-state health insurance plans mandated by the 2010 Patient Protection and Affordable Care Act.

Under that law, according to a recent article by reporter Robert Pear in the New York Times, the federal government will soon issue contracts for at least two large nationwide plans that will be offered to consumers in every state and the District of Columbia.

Setting a model for digital exchange

Said Stephenson: “These multi-state plans, which will compete directly with existing health insurance plans, will almost surely offer the full and secure electronic health information exchanges encouraged under current federal healthcare laws – seamlessly connecting the new insurers with the health care providers and consumers they will serve. The new plans will set a model and give encouragement to other insurance companies that are rushing to catch up with the policies under the 2009 HITECH act which incentivizes digital health information exchanges.”

According to a Washington Post article by reporter Sarah Kliff, “The federal government will negotiate the ‘premiums and benefits' for this insurance coverage, which legislators included as a substitute for the public option.” Kliff noted that the independent multi-state plan was a compromise that came about when it was clear that a simpler, purely “public option” plan modeled on Medicare would not pass Congress. The multi-state plans, however, will still have enormous market and negotiating impact. The Obama administration estimates that as many as 750,000 Americans will enroll in the first year of operation.

Substantial savings

Added Stephenson: “The digital-records reforms promoted first by the HITECH Act, and the Affordable Care Act, and now by the coming, competitive nationwide insurance plans will speed up innovation and deliver substantial savings for the American people, overcoming the paperwork confusion and health care redundancies. Because the federal government is the sponsor still, I am confident that these new plans will fully adopt and use electronic data exchanges to quickly and accurately capture health information on every patient making data securely available to all authorized stakeholders of the health care chain – insurers, care providers and consumers themselves.”

RISARC is a leading national high-technology and revenue recovery consulting firm to the health care industry. RISARC, founded in 1990, has recovered over $1 billion for its clients. The company offers the RMSe-bubble™ for secure electronic document exchange and the signature RISARC 360° single-source solution that combines health care revenue cycle expertise with innovative cloud-based, cost-saving technology to help clients optimize existing resources, meet business objectives and reach financial goals. RISARC is a pioneer in health care technology solutions and is a certified Health Information Handler for the Centers for Medicare and Medicaid Services, esMD project. The RMSe-bubble provides the industry's best secure, HIPAA-compliant environment for electronic record and document exchange and has been endorsed and accepted by providers, commercial insurance carriers and government agencies across the United States.

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