ROLLING MEADOWS, Ill., Oct. 15, 2013 (GLOBE NEWSWIRE) -- Q4 Systems Corporation (OTCBB:QFOR) announced today it releases Version 2.0 of its' healthcare exchange platform. The Q4 healthcare exchange (QHIX) was launched in July, 2013. The Version 2.0 includes a Reach and Teach Member Engagement module, which the company believes makes its exchange the most comprehensive, easy-to-use, private health exchange platform available and far superior to all government exchanges.
The QHIX healthcare exchange platform is the product of several years of research and development in which the company leveraged its enterprise software solutions and the analysis of eleven state public exchange requirements to create the first fully-functional, commercial exchange for health plans, third party administrators, brokers, consultants, employers and employees.
The Reach and Teach engagement platform ads further functionality with multi-channel messaging to reach and engage more customers. The Teach component is a HIPAA-compliant education module to train management and staff and our client's customers learn more about exchange features. Reach and Teach will allow clients to Reach and Teach their clients with the right information delivered at the right time through the preferred device of their members.
The CEO of Q4 Systems, Nandu Thondavadi, PhD. stated, "The confusion and frustration among the public on how to operate the government healthcare exchange platforms, from basic enrollment to choosing personalized plans, is eliminated with our private healthcare exchange. We have deployed an exchange that is streamlined, easy to use, fully customizable, and will allow millions of Americans to navigate the insurance sphere efficiently to build the most cost effective and beneficial plans for themselves and their families. One of the key components is the ability of our clients to manage consumer's choices within the exchange and manage the calculation of the available subsidy and apply the subsidy appropriately. The Q4 healthcare exchange is a game-changer for us and our investors."
Over 150 million Americans are now eligible to enroll in commercial non-government healthcare exchanges. The exchange allows members to easily choose from among numerous providers while personalizing their healthcare plans. The intent of the exchange is to create a marketplace where insurance companies compete in an easy-to-navigate, digital environment for consumers. The Q4 architecture is very scalable and allows for multiple implementations across the market segments.
The Company believes it can enroll up to 5 million members over the next 48 months, which would generate revenue of $10 million per month with gross margins similar to a typical fully deployed SaaS solution.
About Q4 Systems Corporation
Q4 Systems is an IT software company that develops and implements mission-critical cloud-based enterprise systems for both Fortune 500 companies and smaller enterprises. With over 600 technologists operating in 5 countries, Q4 services over 150 companies worldwide. The company is a leading provider of Health Exchange platforms and a proprietary set of SMAC (social media, mobility, analytics and cloud computing) technology solutions to enterprise clients in the Financial Services, Health Care, Retail, Manufacturing and Telecommunication sectors. More information about Q4 Systems can be found at http://www.qfor.com and http://www.Q4health.com
This release contains forward-looking statements, which are subject to the inherent uncertainties in predicting future results and conditions. Any statements that are not statements of historical fact should be considered to be forward-looking statements. Certain factors could cause actual results and conditions to differ materially from those projected in such forward-looking statements. We do not undertake any obligation to release publicly revised or updated forward-looking information, and such information included in this release is based on information currently available and may not be reliable after this date.
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Source:Q4 Systems Corporation