HERAE: A Company Born to Affect Change

The people behind HERAE have decades of healthcare technology experience. We watched, with anticipation, the arrival of watershed events like HIPAA and its mandate regarding the transmission of healthcare transactions.

As expected, HIPAA's standards have provided the pathway for healthcare standardization with the opportunity to make significant changes to healthcare and its underlying costs. Healthcare has before it the occasion to take two monumental steps towards improving efficiencies, lowering costs of operations and increasing patient responsiveness:

1. Eliminate Paper

2. Utilize the Internet

It's a daunting task, but one taken by other industries that were paper-based and had many manual, labor intensive processes. Those industries learned to adapt by streamlining their processes electronically - and have saved considerable costs in the process.

Lessons Learned from the Banking Industry

Take banking, for example. The banking industry moved millions of paper checks each day. The thought of letting people pay bills online was unthinkable less than ten years ago!

Today, according to the American Banking Association, a banking transaction that costs the industry $1.07 completed at the teller window only costs 27 cents if done at the ATM, and costs 1 penny if done online!

So can healthcare take a page from the efficiencies found in other industries, now that transactions standards have been put in place?

It's easy and probably correct to argue that healthcare is much more complex, has many more variables than does an industry like banking. The key is to introduce electronic solutions that match existing paper processes as much as possible but provide real cost and time savings to the people who adopt them.

Considerable Research in HERAE Solutions

The research and work behind HERAE has been ongoing for more than three years. We conducted focus groups and investigation sessions to learn how people were handling these processes already. Our engineers and developers have great experience in both healthcare and IT. The solutions that you find on this website are poised to revolutionize the way the healthcare industry delivers, processes and maintains claim payment information.

Company Milestones:

August 2004
Company formed and acquired its first provider clients

April 2005
HERAE releases the first pilot version of its product and is now connected to Aetna, CIGNA, Medicare and PacifiCare

July 2005
HERAE released remittance solution for general availability

October 2005
HERAE Partners with PNC Bank for electronic movement of money between insurers and providers

December 2005
HERAE ends the year with over 1000 providers in 3 states

March 2006
HERAE adds Wells Fargo Bank as another partner financial institution for electronic movement of money between insurers and providers

June 2006
HERAE expands to 13 states with payers that provide coverage to over 100,000,000 members