Asure Partners with Key Benefit Administrators to Offer Proactive Health Management Plan (PHMP) to Clients
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Insights
The strategic partnership between Asure Software and Key Benefit Administrators (KBA) introduces an innovative approach to employee health management, which can potentially create a competitive advantage in the Human Capital Management (HCM) software market. By integrating the Proactive Health Management Plan (PHMP) into Asure's offerings, the company is positioning itself at the intersection of technology and healthcare, a burgeoning sector. This move could lead to an increase in client acquisition and retention rates, as businesses seek comprehensive solutions that address the rising costs of healthcare.
From a market perspective, the integration of health management tools at no net cost to businesses could disrupt traditional health benefits models, leading to a shift in how companies procure and manage employee health programs. Such a move may also reflect positively on Asure's brand image, as they align with growing corporate wellness trends and the increasing importance of employee health in the workplace.
The announcement of this partnership is likely to be scrutinized for its financial implications. Investors will be interested in how this collaboration affects Asure's revenue streams and cost structures, particularly in the short-term. The provision of PHMP at 'no net cost' suggests that Asure may have to absorb initial costs, which could impact profit margins. However, long-term benefits could include differentiated product offerings and potential upselling opportunities, which may drive revenue growth.
Additionally, the partnership could lead to operational efficiencies and cost savings for Asure's clients, which is a strong selling point. Asure's stock performance may experience volatility as the market responds to these developments, with potential upside if the partnership delivers on its promise to transform employee health and reduce costs.
The partnership's emphasis on comprehensive population health programs is indicative of a broader industry trend towards preventative healthcare measures. The integration of PHMP within Asure's suite of services could signify a shift in employer-sponsored health benefits, focusing on proactive health management rather than reactive care. This may lead to improved health outcomes for employees and reduced healthcare expenditures for employers, aligning with national efforts to control healthcare costs.
The patented aspect of PHMP could also imply a level of innovation and exclusivity that may enhance Asure's market position. However, the effectiveness and adoption rate of these programs will be critical to monitor, as they will directly influence the perceived value of the partnership to Asure's clients and, by extension, its success in the market.
AUSTIN, Texas, Feb. 15, 2024 (GLOBE NEWSWIRE) -- Asure Software (NASDAQ: ASUR), a leading provider of cloud-based Human Capital Management (HCM) software solutions, is pleased to announce a strategic partnership with Key Benefit Administrators (KBA), one of the largest Third-Party Administrators in the nation. This collaboration aims to deliver the innovative Proactive Health Management Plan (PHMP) to Asure’s client base, enhancing their access to proven, patented, and comprehensive population health programs and services.
The partnership between Asure and Key Benefit Administrators is a milestone in the effort to transform employee health and reduce costs for both employer and employee. By integrating PHMP into Asure’s suite of services, clients will now have a unique opportunity to offer their employees a range of health management tools and services at no net cost to the business.
Larry Dust, CEO of Key Benefit Administrators, expressed his enthusiasm about the partnership, stating, “We are excited to partner with Asure to bring PHMP to a wider audience. This collaboration aligns with our mission to deliver innovative health solutions that not only support employees' wellness but also contribute to the overall success of businesses. Together, we are setting a new standard for what companies can offer their employees in terms of health benefits.”
Pat Goepel, CEO of Asure Software, also commented on the partnership, “At Asure, we are constantly seeking ways to provide our clients with solutions that add value to their businesses and enhance the well-being of their employees. Partnering with Key Benefit Administrators to offer PHMP is a testament to our commitment to innovation and excellence in the HCM space. We believe this partnership will empower businesses to invest in their most valuable asset – their people.”
The PHMP offers a wide range of health services, including telemedicine, biometric and DNA screenings, health risk assessments, concierge access to nurses, nutritionists, wellness coaches all aimed at proactively managing employee health and reducing medical and RX claims. This partnership will redefine how businesses approach employee benefits, offering a proven solution that benefits both employers and employees alike.
For more information about the partnership and how to take advantage of PHMP through Asure, please visit https://offers.asuresoftware.com/phmp.
About Asure
Asure is a global provider of cloud-based HCM solutions that empower businesses to grow their human capital to get to the next level. Asure’s comprehensive suite of solutions includes payroll, time & attendance, talent management, and HR management.
About Key Benefit Administrators
Key Benefit Administrators is one of the foremost industry leaders dedicated to providing innovative solutions that help businesses manage healthcare costs while improving the health and well-being of their employees. Serving more than 2.8 million members nationwide.
Contact Information:
Patrick McKillop
Vice President, Investor Relations
617-335-5058
patrick.mckillop@asuresoftware.com
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