Brookfield-based Connecture, Inc. is forecasting revenue growth of more than 80 percent this year to revenues in excess of $90 million.
The company has also added 60 new employees at its Brookfield headquarters so far this year.
Company-wide, it has increased its number of employees by more than 20 percent, not including employees that joined the company as a direct result of the company’s January acquisition of Los Angeles-based DRX. It has also signed nine new customers in the first half of the year and expanded its engagements with 25 customers.
Modules of Connecture’s StateAdvantage suite of products comprise the shopping and enrollment functions of Affordable Care Act state exchanges being built in Maryland, Minnesota and Washington D.C. In addition, 75 percent of Americans who enroll in Medicare Part D, and 70 percent of all Medicare Plan Sponsors rely on plan comparison and enrollment systems created by Connecture’s DRX division, and more than half of all Blue Cross & Blue Shield plans rely on modules of Connecture’s InsureAdvantage product.
“There is universal agreement throughout the commercial insurance industry and the government marketplace that selecting, purchasing and enrolling in the right health plan is often far more complex and costly than it needs to be,” said Doug Schneider, chief executive officer of Connecture. “Connecture’s continued and rapid growth is a direct reflection of just how effective our information systems are at eliminating waste and empowering Americans to choose the best health coverage with confidence.”
Connecture has also expanded its headquarters in Brookfield, opened a new facility in Raleigh, N.C., and expanded its offices in Atlanta, Ga., and Farmington, Conn.
“Our employees should be very proud of the work we are doing to make health care more affordable and accessible,” said Schneider. “Our growth and Connecture’s importance in this market will only increase in the months and years to come as our systems enable stakeholders to expand and retain membership while simultaneously achieving readiness for reform in a rapidly changing marketplace.”