SS&C Enters into Joint Venture to Create New Standard for Cloud-Based API-Driven Claims Adjudication
SS&C Technologies (Nasdaq: SSNC) announced a joint venture named DomaniRx to develop a cloud-native, API-driven claims adjudication platform. This initiative aims to enhance Pharmacy Benefit Management (PBM) by improving the user experience for both payers and providers. The platform promises affordable and transparent solutions utilizing open-source technology and advanced analytics. Humana will be the first customer, indicating strong industry interest. The collaboration underscores SS&C's commitment to innovation and leveraging its technology capabilities in the healthcare sector.
- Joint venture with Humana as the first customer, indicating strong demand.
- Development of a cloud-native, API-driven platform to enhance claims adjudication.
- Focus on affordability, transparency, and advanced analytics in PBM.
- None.
WINDSOR, Conn., July 21, 2021 /PRNewswire/ -- SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) today announced that it has entered into a joint venture to create a new cloud-native, API-driven claims adjudication platform. Upon completion and the receipt of all approvals, the joint venture, named DomaniRx, LLC (DomaniRx), will shape the future of Pharmacy Benefit Management (PBM) and harmonize the payer and provider management user experience.
"SS&C is creating DomaniRx and we are excited to be working with two world-class founding minority co-investors. We are committed to building a next-generation claim adjudication and PBM platform," said Bill Stone, Chairman and Chief Executive Officer.
Healthcare organizations need end-to-end transparency and data analytics while adhering to ever-changing government regulations. To better address the complexity of the claims adjudication industry-wide as healthcare organizations compete and grow, DomaniRx will build a unified best-in-class user experience leveraging plug-and-play technology to provide the industry's most affordable, transparent solution.
"This is a milestone partnership for the healthcare technology industry, and we are pleased that Humana will be our partner and first customer. DomaniRx will focus on disrupting the industry through open source technology to interface with other systems quickly," said Danny Delmastro, DomaniRx's General Manager. "The insights we will draw from hundreds of millions of claims transactions, powered by DomaniRx's advanced processing platform, will provide participating members flexible tools, advanced analytics, and customizable programs. All while increasing transparency, accessibility and service quality for members and pharmacies."
DomaniRx's reimagined claims adjudication platform will leverage SS&C's technology capabilities and reside on SS&C's private cloud. The result will be a single cloud-native user experience with proven scalability, resiliency, and best-in-class transactional processing capabilities.
About SS&C Technologies
SS&C is a global provider of services and software for the financial services and healthcare industries. Founded in 1986, SS&C is headquartered in Windsor, Connecticut, and has offices around the world. Some 18,000 financial services and healthcare organizations, from the world's largest companies to small and mid-market firms, rely on SS&C for expertise, scale and technology.
SOURCE: SS&C
Additional information about SS&C (Nasdaq: SSNC) is available at www.ssctech.com.
Follow SS&C on Twitter, LinkedIn and Facebook.
View original content to download multimedia:https://www.prnewswire.com/news-releases/ssc-enters-into-joint-venture-to-create-new-standard-for-cloud-based-api-driven-claims-adjudication-301338906.html
SOURCE SS&C
FAQ
What is the purpose of SSNC's joint venture with Humana?
Who are the founding investors in the DomaniRx joint venture?
How will the new platform improve Pharmacy Benefit Management?
What technology will the DomaniRx platform utilize?
What is SSNC's stock symbol?
