ROLLING MEADOWS, Ill., Jan. 31, 2014 (GLOBE NEWSWIRE) -- Q4 Systems Corporation (OTCQB:QFOR) ("Q4"), is pleased to announce that they will be implementing their comprehensive QHIX Health Exchange Platform for The Hatcher Agency, Arkansas' largest insurance group. Hatcher is also the largest Agency for Blue Cross Blue Shield in Arkansas with more than 600 employers as clients. QHIX, built by Q4 Systems Corporation (OTCQB:QFOR), is an industry-leading, cloud-based platform for managing all elements of a private exchange offering.
"We researched the marketplace and selected Q4 Systems over many other competitors. The QHIX platform is fully customizable, robust and secure, and allows us to market both individual and group exchange products which will include every possible product and service to our clients. It's an ideal solution that allows us to adapt to the changing market as a result of the Affordable Care Act," says Greg Hatcher, CEO of The Hatcher Agency.
Robert Steele, Chief Sales and Marketing Officer for Q4 stated, "We are proud to be The Hatcher Agency's health exchange partner, and I am fully confident that our QHIX technology platform will exceed their expectations. The QHIX technology platform offers a true marketplace experience in this new era of 'regulated retail' for the healthcare, benefits and insurance industries."
QHIX manages all elements of a health exchange. With its proprietary Marketplace, individual consumers or employees of companies of all sizes can easily compare, purchase, enroll and manage capabilities for health insurance needs.
According to consultant Josh Weisbrod, a partner in the health-care practice at consultant Bain & Co., within four years 80 million people in the United States may get their healthcare insurance using private exchanges ("A Guide to Health-Insurance Exchanges Untouched by Obamacare," Bloomberg BusinessWeek, October 17, 2013).
Industry leaders such as Aetna, an American managed health care company, providing a range of traditional and consumer directed health care insurance products and related services, believe "private healthcare exchanges are going to change the way millions of Americans view their health insurance whether it's how they shop for a plan, what plan they decide to buy or how they use their benefits" ("Health Care Reform: What is a health insurance exchange?" http://www.aetna.com/health-reform-connection/reform-explained/video-exchanges.html).
While the public healthcare exchanges at the Federal and State level are experiencing extreme technological problems, the Q4 healthcare exchange platform is now enrolling members.Â Private healthcare exchanges give employers the option to provide employees with a fixed amount of money to shop for and design a personalized healthcare plan.
Q4 Systems has already enrolled 50,000 members to its healthcare exchange platform and is now finalizing over 20 new private healthcare exchanges for businesses across the US.Â The Company estimates that these exchanges will connect between 2.5 to 3 million new members by the fourth quarter of 2014.
Q4 Health's exchange platform, allows employers and employees to plug in data such as age, budget, and other details and shop for a wide variety of benefits with ease and convenience. Members can choose from up to 20 different plans.Â The 1nvoice unified billing system complements Q4 Systems' QHIX Health Exchange platform, and is backed by Q4 Systems' 30 years of technology leadership in the healthcare and benefits arena.
About Q4 Systems Corporation
Q4 Systems is an IT software company that develops and implements mission-critical cloud-based enterprise systems for both Fortune 500 companies and smaller enterprises. With over 1000 associates around the globe, Q4 services over 150 companies worldwide.Â The company is a leading provider of Health Exchange platforms (QHIX) and a proprietary set of SMAC (social media, mobility, analytics and cloud computing) technology solutions to enterprise clients in the Financial Services, Health Care, Retail and Manufacturing sectors. More information about Q4 Systems can be found at http://www.qfor.com.
About The Hatcher Agency
Founded by Greg Hatcher in 1990, The Hatcher Agency quickly rose to become the top insurance company in Arkansas today. In 1993, The Hatcher Agency was named by Arkansas Business as "Small Business of the Year". Greg Hatcher has been named one of the top 12 agents in the United States for eight consecutive years, out of 1.4 million licensed agents. Currently, Arkansas' largest insurance companies rely on The Hatcher Agency as their number one producer. The Hatcher Agency offers group and individual products, as well as voluntary benefits. For more information, please visit http://www.hatcheragency.com/.
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 should be considered to be forward-looking statements. Certain factors 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.
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