ikaSystems' Southwestern Foothold
Southborough-based ikaSystems has landed its first customer in the sunny state of New Mexico. And it could have the U.S. Supreme Court to thank.
Albuquerque-based Lovelace Health Plan, which provides insurance coverage for 230,000 people in the Southwestern state of 2 million residents, will use ikaSystems' platform to manage its customer relationships, campaigns and sales, it said in a statement.
ikaSystems, which makes software that automates various paperwork processes for health care payers, is seeing new business come in the wake of the Supreme Court's decision in June to uphold the bulk of the Affordable Care Act.
"With the recent Supreme Court decision, states are going to move quickly to set up health insurance exchanges – a process that has already begun in many states," ikaSystems CEO Joseph Marabito said in an email.
Marabito said the speed with which his company can set up its platform with customers, and its ability to interface customers with health exchanges, were major factors in landing Lovelace as a customer.
Business Sparks Business
The Affordable Care Act aims to expand insurance coverage to approximately 30 million uninsured Americans. The reform has many parts, but one of them is that states will be required to set up health insurance exchanges by 2014 to help individuals and small employers obtain coverage.
Marabito said that as ikaSystems has deployed its platforms with customers - many of which have interacting with state exchanges at the top of their mind - more health plans have reached out to the company to learn about its technology. It's had a bit of a snowball effect.
"Our success serving health plans has garnered the interest from state exchanges, provider-based organizations and accountable care organizations seeking solutions to transform and deliver real value to their businesses," he said.
And as it often does, more business has meant more jobs at the company's Southborough Place office park headquarters.
ikaSystems has doubled its staff to 380 since 2010 and continues to hire "aggressively," Marabito said.
The company now has more than 30 customers using its platforms, Marabito said. And the focus for the foreseeable future? Growth.
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