Fiserv, the Brookfield, Wis.-based information management solutions provider, continues to round out its healthcare services offering with the purchase of healthcare administration services company CareGain (East Windsor, N.J.). According to Fiserv, the acquisition will serve as a key element in its solution for health plans and financial institutions for managing consumer-directed health plans and related healthcare spending accounts. Financial terms of the deal were not disclosed.
CareGain offers a solution for administering such consumer-controlled healthcare accounts as health savings accounts (HSAs), flexible spending accounts (FSAs) and health reimbursement accounts (HRAs). Its DefinedCare platform enables health plans to address multiple areas of cost containment and can integrate with existing systems. It provides connectivity to online disease management and cost comparison tools, pharmacy benefit managers and multiple financial services.
CareGain will operate as a business unit of Fiserv Health, which provides health plan administration and business process outsourcing services to employers and health plans.
"CareGain's highly customizable consumer-directed healthcare products are an important addition to the core banking, healthcare transaction processing and payment solutions we offer our clients," said Jeff Yabuki, president and CEO of Fiserv. "It gives us another important way to differentiate our solutions to financial institutions, insurance companies and employers while enhancing the experience for their ultimate consumers."
Fiserv will offer the DefinedCare Platform as a license, in a fully hosted environment or as a complete outsourced solution.