WEX Health Strengthens Position as an Industry Leader
February 26 2018 - 6:30AM
Business Wire
WEX Health, a WEX Company and an award-winning healthcare
financial technology platform provider, further solidified its
leadership position in 2017 in terms of growth and services:
- WEX Health Cloud processed more than
350 million transactions, all with an uptime of 99.99 percent over
the past five years.
- Product releases delivered more than
350 key enhancements, extending WEX Health’s unique leadership
position.
- Our Partner ecosystem connects us to
more than 300,000 employers, ultimately helping us serve more than
25 million consumers across the United States and Canada.
- WEX Health continues building key
relationships with industry-leading third-party administrators,
health plans, financial institutions, exchange partners, payroll
providers and multiple Taft-Hartley union and labor funds. In 2017,
growth was driven by the addition and/or renewal of numerous
notable partners including American Benefit Administrators, ASI
Flex, Benefitfocus, Compusys/Erisa Group, Kaiser Permanente,
PIOPAC, and Tri-Star Systems. Additionally, we added several
notable COBRA and advanced billing partners.
- Growth continues across all categories
of employers choosing WEX Health Cloud as their technology platform
for administering healthcare benefit accounts. Among Fortune 1000
companies, forty-four percent (44%) are on the WEX Health Cloud
platform.
- The WEX Health Cloud mobile app
continues strong year-over-year growth and was downloaded more than
a million times in 2017. The mobile app continues as a leader in
innovation, value, and technology in the market.
- WEX Health remains a leader in the HSA
market with nine of the top 20 HSA providers powered by WEX Health,
and more HSAs utilizing WEX Health technology than any other.
Additionally, HSA Bank, a WEX Health Partner, grew beyond 2.4
million accountholders in 2017.
- WEX Health executives shared thought
leadership, insight, and expertise by speaking at industry
conferences and by being featured in industry trade and national
media, including: Barron’s, Employee Benefit News, HR Technologist,
BenefitsPro, SHRM and Health Leaders Media. WEX Health's
announcements and press releases were featured in national and
regional outlets, such as the Miami Herald, Pittsburgh Post
Gazette, International Business Times, and the Star Tribune.
- We continue to receive industry awards
and accolades, including being named a Paybefore 2017 Pay Awards
Winner in the Health Care Payments Innovation category and a “Best
of 2017” award winner in MobileVillage’s Mobile Star awards.
Additionally, Jeff Young, president of WEX Health, was named a
Technology Innovator Award winner by Employee Benefit News and
Employee Benefit Adviser, and Jeff Bakke, chief strategy officer of
WEX Health, was named a 2017 Eureka! Innovation award winner by the
Minneapolis/St. Paul Business Journal.
“Our growth and achievements reflect the ongoing need for
innovative technology and integrated solutions that help
organizations streamline administrative and regulatory changes,”
said Young. “At WEX Health, we remain committed to investing in
technology and investing in our partners to help them grow and
succeed. Our tremendous success is a result of our partners’ hard
work, dedication, and determination to simplify the business of
healthcare.”
WEX Health Partners will gather April 30-May 2 at The Westin
Kierland Resort & Spa for Partner Conference 2018, the
industry’s go-to event.
About WEX HealthWe simplify the business of healthcare
through WEX Health Cloud, a cloud-based healthcare financial
management platform that drives efficiency for benefit
administration technology, consumer engagement, and advanced
billing and payments. Our partner organizations enable us to
deliver our industry-leading and award-winning solution to 300,000
employers and more than 25 million consumers. Together we take the
complexity out of defined contribution, HSAs, HRAs, FSAs, VEBAs,
PRAs, premium billing, public and private health insurance
exchanges, COBRA, wellness plans, and transit plans. Learn more at
www.wexhealthinc.com, and follow WEX Health at @WEXHealthInc.
About WEX Inc.WEX Inc. (NYSE: WEX) is a leading provider
of corporate payment solutions. From its roots in fleet card
payments beginning in 1983, WEX has expanded the scope of its
business into a multi-channel provider of corporate payment
solutions representing 11 million vehicles and offering exceptional
payment security and control across a wide spectrum of business
sectors. WEX serves a global set of customers and partners through
its operations around the world, with offices in the United States,
Australia, New Zealand, Brazil, the United Kingdom, Italy, France,
Germany, Norway, and Singapore. WEX and its subsidiaries employ
more than 3,000 associates. The Company has been publicly traded
since 2005, and is listed on the New York Stock Exchange under the
ticker symbol “WEX.” For more information,
visit www.wexinc.com and follow WEX on Twitter at
@WEXIncNews.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20180226005143/en/
WEX HealthTiffany Wirth, 701-461-6473twirth@wexhealthinc.com
WEX (NYSE:WEX)
Historical Stock Chart
From Mar 2024 to Apr 2024
WEX (NYSE:WEX)
Historical Stock Chart
From Apr 2023 to Apr 2024