Welcome!

News Feed Item

Maestro First to Feature New Solution For Employer Sponsored Healthcare Market

"Unique Solution Combines Private Exchange and Self-Funded TPA Capabilities on One Platform"

HIGHLAND PARK, Ill., April 2, 2014 /PRNewswire/ -- Rob Butler, CEO of Maestro Healthcare Technology, a cutting-edge Health Benefits Service company, today announced they are introducing an employer benefit solution that is the first to feature both private exchange and self funding capabilities on a single platform. The innovative Maestro solution is designed to significantly contain costs, simplify administration and enhance convenience for employers by integrating medical management, consumer driven payment solutions, and other product offerings in an exchange or self-funded model – all on one, proprietary technology platform. Butler, previously the President of PayFlex Systems USA, Inc., a third party administrator that features consumer driven payment solutions for the employer market, led the sale of PayFlex to Aetna in October of 2011.

Maestro Healthcare Technology Modern Benefit Solutions - Orchestrated

"Human Resource departments are being asked to do more with less, while simultaneously being inundated with multiple vendor choices and complexities when making benefit solution decisions for their employees," said Butler.  "Maestro intends to revolutionize the benefits marketplace through the ground-up development of a single platform that will provide simple administration for employers and an easy-to-understand marketplace for consumers."

Healthcare exchanges, both public and private, will impact most aspects of healthcare insurance. While state and federal exchanges for the individual market are now at the center of the news, most experts believe the bigger story in the long run will be the adoption of the exchange model in the private employer sponsored sector.  "We plan to offer what employers need, not merely what we have to sell," continued Butler.  "To accomplish that directive, we are assembling a unique ensemble of products and services."

The market for employer-sponsored group health exchanges is forecast to reach upwards of 30 million lives over the course of the next 5 years. Significant incremental growth is also expected in the employer sponsored retiree and individual Medicare marketplaces.

Maestro, which is backed by two private investors, Oak Investment Partners and SV Life Sciences, will soon be announcing key partnerships and acquisitions that will serve as the foundation of the service offering.  "We are thrilled to be working with Rob again in this new endeavor," said Annie Lamont, Managing Partner of Oak Investment Partners, who backed Butler while at PayFlex. "Technology, innovation, and a proprietary platform were key differentiators in our last venture and we firmly believe it will create significant market advantages within the Maestro model as well."

Maestro, which is the first to integrate self-insured capabilities within a private exchange model, plans to roll out their solution in the Southeast region over the next few months. "With all the attention surrounding private exchanges, self funding by employers has also grown nearly 10% in the last 10 years," said Tom Flynn, Managing Partner of SV Life Sciences, who is also behind Maestro. "With approximately 61% of all employers now utilizing self funding arrangements, we love the idea of integrating the private exchange shopping model for that market, which we believe will make it more transparent and easier for consumers to buy healthcare," added Flynn.

Maestro Healthcare Technology (www.maestrohealth.com) is located in Highland Park, IL and is a Health Benefit Services holding company formed in May 2013. The Maestro vision is a modern Benefits Solution that puts employers in control of every aspect of today's complex Healthcare System on a single, comprehensive platform.   We combine Private Exchange, Self Insurance and all the essential components on a single, integrated Mobile and Web Platform to satisfy today's employers and their employees.  Essential components include Medical Management, Benefit Enrollment, Wellness and Incentive Programs, Reimbursement Account Administration, Innovative Consumer and Provider Payment Technology.

Oak Investment Partners (www.oakvc.com):  Oak Investment Partners is a multi-stage venture capital firm and a lead investor in the next generation of enduring growth companies. Since 1978, the firm has invested $9 billion in nearly 500 companies around the world, earning the trust of entrepreneurs with a senior team that delivers steady guidance, deep domain expertise and a consistent investment philosophy. The firm's five major growth sectors of focus are information technology, Internet and consumer, financial services technology, healthcare services and clean energy.

SV Life Sciences (www.svlsa.com):  SV Life Sciences ("SVLS") is a leading international life sciences venture capital firm. SVLS affiliated funds have been investing in life sciences companies since the early 1980s and the firm closed its first dedicated life sciences fund in 1994. SVLS' team of 25 professionals is organized according to experience and specialization into three practice areas: Biotechnology/ Biopharmaceuticals, Medical Devices/Instrumentation, and Healthcare Services/Healthcare IT. These individuals' diverse and complementary skill sets and experiences enable SVLS to tailor an investment team for almost any life science business. Typically, SVLS recruits operating executives, called Venture Partners, who have distinguished careers in the life sciences fields and can bring extensive operating expertise to the SVLS portfolio of investments. They assist in sourcing, building and exiting investments successfully. When possible, these individuals are promoted to serve as Partners and in some cases as Managing Partners within the Firm. SVLS employs a close symbiosis between operating and financial professional, which has led to significant success over five investment funds. SVLS has offices in Boston, London and San Francisco.

Logo - http://photos.prnewswire.com/prnh/20140402/CL95797LOGO

SOURCE Maestro Healthcare Technology

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
The cloud promises new levels of agility and cost-savings for Big Data, data warehousing and analytics. But it’s challenging to understand all the options – from IaaS and PaaS to newer services like HaaS (Hadoop as a Service) and BDaaS (Big Data as a Service). In her session at @BigDataExpo at @ThingsExpo, Hannah Smalltree, a director at Cazena, will provide an educational overview of emerging “as-a-service” options for Big Data in the cloud. This is critical background for IT and data profes...
Father business cycles and digital consumers are forcing enterprises to respond faster to customer needs and competitive demands. Successful integration of DevOps and Agile development will be key for business success in today’s digital economy. In his session at DevOps Summit, Pradeep Prabhu, Co-Founder & CEO of Cloudmunch, covered the critical practices that enterprises should consider to seamlessly integrate Agile and DevOps processes, barriers to implementing this in the enterprise, and pr...
Eighty percent of a data scientist’s time is spent gathering and cleaning up data, and 80% of all data is unstructured and almost never analyzed. Cognitive computing, in combination with Big Data, is changing the equation by creating data reservoirs and using natural language processing to enable analysis of unstructured data sources. This is impacting every aspect of the analytics profession from how data is mined (and by whom) to how it is delivered. This is not some futuristic vision: it's ha...
The principles behind DevOps are not new - for decades people have been automating system administration and decreasing the time to deploy apps and perform other management tasks. However, only recently did we see the tools and the will necessary to share the benefits and power of automation with a wider circle of people. In his session at DevOps Summit, Bernard Sanders, Chief Technology Officer at CloudBolt Software, explored the latest tools including Puppet, Chef, Docker, and CMPs needed to...
With the Apple Watch making its way onto wrists all over the world, it’s only a matter of time before it becomes a staple in the workplace. In fact, Forrester reported that 68 percent of technology and business decision-makers characterize wearables as a top priority for 2015. Recognizing their business value early on, FinancialForce.com was the first to bring ERP to wearables, helping streamline communication across front and back office functions. In his session at @ThingsExpo, Kevin Roberts...
Let’s face it, embracing new storage technologies, capabilities and upgrading to new hardware often adds complexity and increases costs. In his session at 18th Cloud Expo, Seth Oxenhorn, Vice President of Business Development & Alliances at FalconStor, will discuss how a truly heterogeneous software-defined storage approach can add value to legacy platforms and heterogeneous environments. The result reduces complexity, significantly lowers cost, and provides IT organizations with improved effi...
Cognitive Computing is becoming the foundation for a new generation of solutions that have the potential to transform business. Unlike traditional approaches to building solutions, a cognitive computing approach allows the data to help determine the way applications are designed. This contrasts with conventional software development that begins with defining logic based on the current way a business operates. In her session at 18th Cloud Expo, Judith S. Hurwitz, President and CEO of Hurwitz & ...
It's easy to assume that your app will run on a fast and reliable network. The reality for your app's users, though, is often a slow, unreliable network with spotty coverage. What happens when the network doesn't work, or when the device is in airplane mode? You get unhappy, frustrated users. An offline-first app is an app that works, without error, when there is no network connection.
Data-as-a-Service is the complete package for the transformation of raw data into meaningful data assets and the delivery of those data assets. In her session at 18th Cloud Expo, Lakshmi Randall, an industry expert, analyst and strategist, will address: What is DaaS (Data-as-a-Service)? Challenges addressed by DaaS Vendors that are enabling DaaS Architecture options for DaaS
One of the bewildering things about DevOps is integrating the massive toolchain including the dozens of new tools that seem to crop up every year. Part of DevOps is Continuous Delivery and having a complex toolchain can add additional integration and setup to your developer environment. In his session at @DevOpsSummit at 18th Cloud Expo, Miko Matsumura, Chief Marketing Officer of Gradle Inc., will discuss which tools to use in a developer stack, how to provision the toolchain to minimize onboa...
SYS-CON Events announced today that Catchpoint Systems, Inc., a provider of innovative web and infrastructure monitoring solutions, has been named “Silver Sponsor” of SYS-CON's DevOps Summit at 18th Cloud Expo New York, which will take place June 7-9, 2016, at the Javits Center in New York City, NY. Catchpoint is a leading Digital Performance Analytics company that provides unparalleled insight into customer-critical services to help consistently deliver an amazing customer experience. Designed...
With the proliferation of both SQL and NoSQL databases, organizations can now target specific fit-for-purpose database tools for their different application needs regarding scalability, ease of use, ACID support, etc. Platform as a Service offerings make this even easier now, enabling developers to roll out their own database infrastructure in minutes with minimal management overhead. However, this same amount of flexibility also comes with the challenges of picking the right tool, on the right ...
CIOs and those charged with running IT Operations are challenged to deliver secure, audited, and reliable compute environments for the applications and data for the business. Behind the scenes these tasks are often accomplished by following onerous time-consuming processes and often the management of these environments and processes will be outsourced to multiple IT service providers. In addition, the division of work is often siloed into traditional "towers" that are not well integrated for cro...
SYS-CON Events announced today that FalconStor Software® Inc., a 15-year innovator of software-defined storage solutions, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. FalconStor Software®, Inc. (NASDAQ: FALC) is a leading software-defined storage company offering a converged, hardware-agnostic, software-defined storage and data services platform. Its flagship solution FreeStor®, utilizes a horizonta...
With an estimated 50 billion devices connected to the Internet by 2020, several industries will begin to expand their capabilities for retaining end point data at the edge to better utilize the range of data types and sheer volume of M2M data generated by the Internet of Things. In his session at @ThingsExpo, Don DeLoach, CEO and President of Infobright, will discuss the infrastructures businesses will need to implement to handle this explosion of data by providing specific use cases for filte...