From the Wires
Quadrant 4 Systems Corporation (Q4) Announces Release of its Integrated Private Exchange and Benefits Management SAAS Platform
Feb. 12, 2013 05:18 PM
ROLLING MEADOWS, Ill., Feb. 12, 2013 /PRNewswire/ -- Quadrant 4 Systems Corporation (OTCQB: QFOR) today announced that it had completed the integration of its recently acquired empowHR product for benefits management with QHIX, its cloud based Private Health Insurance Exchange platform.
Features of this new integrated platform include:
- Ability to display and select several employee benefit options including health insurance on a private exchange basis for employee purchase
- Integration of the private exchange with all employer sponsored insurance and benefits as well as work-site benefit products for enrollment, communication and administration
- Agency portal for management and administration of multiple client types incorporating insurance, employee benefits and financial services into a single platform
- Employer portal for managing insurance, employee benefits, human resources, financial services and integration with third party product providers such as payroll systems, human resource systems, and/or other administrators
- Employee portal for managing all benefit programs, change of family status and any employer required activity for on-boarding, off-boarding, training, time and attendance
With this major milestone completed, Q4 Healthcare Solutions has begun to engage in several strategic partnership conversations across the country with several large regional brokers. The brokers targeted for these partnerships include those brokers that understand the changing landscape as well as the strategic and incremental revenue opportunities available to them going forward.
Dhru Desai, Chairman of the board of Q4 stated, "Benefits brokers are under considerable financial pressure as health insurance companies have begun to cut commissions in advance of the upcoming impacts of the Affordable Care Act. With the Q4 Healthcare Solutions new integrated empowHR platform, we can help the broker evolve the their business model from a transactional quote gatherer to a true strategic healthcare and benefits partners for their mid-cap and small-cap employers clients."
Added Robert Steele, Q4 Senior Vice President of Sales, "With the road to regulated retail for employee benefits, new large and large market opportunities exist for benefits brokers. Given their significant number of business relationships with small and mid-cap employer clients, brokers are uniquely position to help their employer clients - many of whom are struggling to navigate the rapidly changing healthcare insurance and benefits space. The new Q4 platform will give the brokers and their end customers' benefits shopping and management capability normally found at Fortune 500 companies. In fact, I believe that brokers will actually be able to grow their revenues through incremental sales despite declining commissions from the health insurance companies."
For more information, please contact:
Vice President, Business Development
Q4 Healthcare Solutions
About Quadrant 4 Systems Corporation
Quadrant 4 Systems Corporation delivers end-to-end information technology solutions to its clients through a unique blend of product solutions, consulting, software development & maintenance, cloud based products and technology from its global delivery centers. The company currently focuses on the Healthcare, Financial Services, IT Consulting, and Retail sectors. The company plans to enhance it positions and technical strength through acquisition of other IT enabled and managed services sector and cloud based services through business acquisitions and/or combination opportunities in the near future to further execute its articulated business strategy.
This release contains forward-looking statements which are subject to the inherent uncertainties in predicting future results and conditions. Any statements that are not statements of historical fact (including statements containing the words "believes," "plans," "anticipate," "expects," "estimates," and similar expressions) should be considered to be forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Exchange Act of 1934, as each is amended, for which the Private Securities Litigation Reform Act of 1995 provides a safe harbor. Certain factors (including but not limited to those risk factors identified from time to time in our filings with the Securities and Exchange Commission as well as changes in economic conditions; outcome of negotiations; changes in the Company's access to necessary capital; outcome of litigation; volatility of capital markets; variability and timing of business opportunities; changes in accounting policies and practices; the effects of internal organizational changes; adverse state and federal regulation and legislation; and the occurrence of extraordinary or catastrophic events and terrorist acts; or other unforeseen changes in circumstances) could cause actual results and conditions to differ materially from those projected in such forward-looking statements. We do not undertake any obligation to release publicly revised or updated forward-looking information, and such information included in this release is based on information currently available and may not be reliable after this date.
SOURCE Quadrant 4 Systems Corporation