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ikaSystems

ikaSystems
About us
ikaSystems is healthcare payers' premier provider of enterprise, web-based technologies for commercial, Medicare and Medicaid lines of business. The company's flagship product provides transformative opportunities via cost reduction and flexibility throughout health care organizations'businesses frommarketing and sales through claims administration and customer service, to care and qualitymanagement, all on a single integrated platform.Using their agile, modular technology, organizations can proactively lower administrative andmedical care expenses, guidemembers to better outcomes, drive superior service, and thrive in today's challenging environment.
FOUNDED:
1999
KEY PERSON:
Ravi Ika
Founder and Executive Chairman of the Board
Ravi, executive chairman of the board, is a consummate entrepreneur and business process improvement expert. He founded ikaSystems in 1999 to address what he recognized as a pressing problem in the health insurance industry: extensive use of paper-based processes; fragmented, inflexible, expensive systems from legacy vendors; and limited ability to make effective decisions based on sound, enterprise-wide business and medical intelligence.

Today Ravi continues in his role as lead innovator, focusing on overall corporate growth, product strategy and strategic initiatives while working closely with client organizations to ensure they receive optimal value from the company's solutions. Essential components of his leadership are his vision for what technology can accomplish, his hands-on approach to clients' success and his ability to build world-class development and implementation teams that possess the synergistic competencies of technical and business process reengineering expertise.
OFFICES:
Southborough, Massachusetts
INVESTORS:
The company received funding from two leading firms in 2009. Providence Equity Partners, a global private equity firm with approximately $22 billion in equity commitments, primarily in the areas of healthcare, media, entertainment, communications and information, and Essex Woodlands Health Ventures, one of the nation's largest and oldest venture capital and growth equity firms, with investments in pharmaceuticals, biotechnology, medical devices, healthcare services and health information technology.
COMPETITORS:
Trizetto, Dynamic Healthcare, DST Healthcare Systems, Connecture, Health Trio, Market Prominence/ Continuum Performance Systems, McKesson, RAM Technologies, OPTUM, Click4Care, CaseNet, Benefit Focus
WEBSITE:
PRODUCT OFFERINGS:
ikaEnterprise is a complete, entirely Web-based technology platform that increases the efficiency, speed and accuracy of health plan processes, allowing commercial,Medicare andMedicaid plans alike to grow rapidly without adding staff, among other benefits. In addition, the robust nature of our technology architecture and high degree of systemconfigurability streamline and shorten deployment timeframes while reducing the resources that clients and ikaSystems need to expend. ikaEnterprisemodules can be implemented one at a time or all at once, helping health plans better manage IT expenses while delivering increasing value.

ikaEnterprise's component architecture, health plans can deploy pieces to form their ideal business solution, building to an enterprise-level system. The flexibility and configurability of the company's technology architecture both contribute to the strong partnership relationships reported by ikaSystems' clients.
DIFFERENTIATING FACTORS:
Afewnotable characteristics cause ikaSystems to stand out from the crowd of legacy vendors as well as from newer vendors. An emphasis on solutions, not product, ikaEnterprise offers a single, integrated Web-based platform that meets a significant percentage of a health plan's technology needs. ika Enterprise works across health plan departments and business lines, allowing health plans to optimize the allocation of healthcare premiums between administrative costs,medical costs and health plan profits.
REVENUE MODEL:
100 percent of our revenue is from the sale of solutions and services to our clients.