Connextions

Connextions

Helps carriers, providers, employers and other leading firms maximize revenue and increase efficiencies by optimizing consumer engagement and experience.

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round
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$80.0m

Valuation: $80.0m

Acquisition
Total Funding000k
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Connextions, founded in 1992 by Peter Kassabov and Cyrus Farudi, operates as a business services and technology partner for the healthcare industry. The company has a history of acquisitions, including the purchase of bConnected Software in 2007, which enhanced its technological capabilities. A significant milestone occurred in August 2011 when OptumHealth, a part of UnitedHealth Group, acquired Connextions to bolster its consumer engagement and health insurance exchange models. Later, in April 2017, TeleTech Holdings, Inc. (now TTEC) acquired Connextions from Optum for $80 million, integrating it into its Customer Management Services segment and making healthcare one of its largest verticals.

The firm specializes in optimizing consumer engagement and experience for clients such as healthcare plans, providers, and pharmacy benefit managers (PBMs). Its business model focuses on driving member acquisition, retention, and engagement to increase revenue and operational efficiencies for its clients. Connextions leverages its proprietary bConnected platform, a SaaS-based consumer engagement tool, to manage interactions. This platform utilizes business intelligence and analytics to connect with consumers across various channels like phone, web, and mobile. The service provides navigational support for health products, educates consumers on plan features, and offers guidance on health behaviors and treatment options. By analyzing member behaviors, the company provides its clients with insights to deliver personalized health choices and information.

The company's services are designed to help healthcare organizations adapt to a consumer-centric market. By combining analytics-driven insights with service capabilities, Connextions aims to improve health outcomes and lower costs for the healthcare system. It assists organizations in designing and implementing health insurance exchange models that effectively match individuals and businesses with suitable plans. The acquisition by TTEC was expected to add approximately $115 million in annual revenue, highlighting the scale of Connextions' operations at the time. Keywords: healthcare services, consumer engagement, bConnected platform, member acquisition, health insurance exchange, patient experience, business process outsourcing, healthcare analytics, revenue cycle management, customer management services

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