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Quadrant 4 Systems Corporation (Q4) Announces Release Of Its Integrated Private Exchange And Benefits Management SAAS Platform

Stocks in this article: QFOR

ROLLING MEADOWS, Ill., Feb. 12, 2013 /PRNewswire/ -- Quadrant 4 Systems Corporation (OTCQB: QFOR) today announced that it had completed the integration of its recently acquired empowHR product for benefits management with QHIX, its cloud based Private Health Insurance Exchange platform.  

Features of this new integrated platform include:

  • Ability to display and select several employee benefit options including health insurance on a private exchange basis for employee purchase
  • Integration of the private exchange with all employer sponsored insurance and benefits as well as work-site benefit products for enrollment, communication and administration
  • Agency portal for management and administration of multiple client types incorporating insurance, employee benefits and financial services into a single platform
  • Employer portal for managing insurance, employee benefits, human resources, financial services and integration with third party product providers such as payroll systems, human resource systems, and/or other administrators
  • Employee portal for managing all benefit programs, change of family status and any employer required activity for on-boarding, off-boarding, training, time and attendance

With this major milestone completed, Q4 Healthcare Solutions has begun to engage in several strategic partnership conversations across the country with several large regional brokers.  The brokers targeted for these partnerships include those brokers that understand the changing landscape as well as the strategic and incremental revenue opportunities available to them going forward. 

Dhru Desai, Chairman of the board of Q4 stated, "Benefits brokers are under considerable financial pressure as health insurance companies have begun to cut commissions in advance of the upcoming impacts of the Affordable Care Act.  With the Q4 Healthcare Solutions new integrated empowHR platform, we can help the broker evolve the their business model from a transactional quote gatherer to a true strategic healthcare and benefits partners for their mid-cap and small-cap employers clients."

Added Robert Steele, Q4 Senior Vice President of Sales, "With the road to regulated retail for employee benefits, new large and large market opportunities exist for benefits brokers.  Given their significant number of business relationships with small and mid-cap employer clients, brokers are uniquely position to help their employer clients - many of whom are struggling to navigate the rapidly changing healthcare insurance and benefits space.  The new Q4 platform will give the brokers and their end customers' benefits shopping and management capability normally found at Fortune 500 companies.  In fact, I believe that brokers will actually be able to grow their revenues through incremental sales despite declining commissions from the health insurance companies."

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