Lighthouse1 Surpasses 2006 Planned Growth Goals; Leader in CDH Solutions Beats Targets by a Mile |
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Lighthouse1, LLC
9800 Bren Road East, Suite 240
Minneapolis, MN, 55343
USA
Press release date: February 13, 2007
MINNEAPOLIS, Feb. 13: Representatives from Lighthouse1, the industry leader in Consumer Driven Healthcare (CDH) administration software solutions, announced today the company experienced stronger than anticipated growth in 2006. Lighthouse1 surpassed growth goals for the calendar year in both the number of clients that administer CDH programs and the total participants that manage CDH accounts via Lighthouse1 OnDemand(TM). In addition the number of Lighthouse1 full time employees rose to 70. Lighthouse1 uses the revolutionary Software as a Service (SaaS) model to provide administrative software solutions for consumer driven healthcare administrators.
"It's obvious that CDH administrators are catching on to the fact that the Lighthouse1 solution helps them expand much more quickly both in terms of membership and service offerings," said Julie Gansen, Executive Vice President of Client Services for Lighthouse1. "Consumers are becoming more educated and insisting on better healthcare management solutions. Lighthouse1 helps meet those demands."
Lighthouse1 experienced significant growth in its consumer membership base during 2006. The company anticipates more than 6.6 million contracted members in 2007. This represents an increase of 350% from the previous year. To meet the needs of its expanding business Lighthouse1 has added new solution offerings accompanied by a larger development and support staff. The company's employee base grew by 326% in 2006 including headcount added for Lighthouse1's new professional services team, launched in January of this year.
"Our growth is a testament to the fact that we deal with our customers and our employees in a straightforward, ethical manner. It's a requirement in our industry," said Jeff Fritz, CEO of Lighthouse1. "Delivering solutions at this level can be complex. We often work with partners or business forces outside of our control. As an advocate for consumers, we've always dealt with challenges head on, regardless of the source." Fritz was recently honored with a CEO CDHC Leadership Award, which he will receive at the CDHC Expo in Las Vegas at the end of February.
About Lighthouse1
Lighthouse1 delivers Consumer Driven Healthcare (CDH) administration software solutions including Lighthouse1 OnDemand(TM), the high performance Software as a Service (SaaS) solution, to resolve challenges in the administration of Section 125, 105, 132 and other pre-tax spending programs in the healthcare and employee benefits industry. Its mission is to use the latest technology and services to assist and support CDH administrators in the management of healthcare account services. Lighthouse1 OnDemand(TM) allows third party administrators and healthcare providers to manage services for employer plans that include: Flexible Spending Accounts (Medical and Dependent Care), Transit and Parking, Health Reimbursement Arrangements and Health Savings Accounts. More information is available at http://www.lighthouse1.com/.
Contact: Bonnie Harris 612-801-0912 bharris@waxmarketing.com
Source: Lighthouse1
CONTACT: Bonnie Harris, +1-612-801-0912, bharris@waxmarketing.com, for Lighthouse1
Web site: http://www.lighthouse1.com/
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