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Apr 27, 2017 7:30 AM ET

Archived: ikaSystems: Provides Web-based enterprise resource planning technology for process automation and intelligence management

iCrowdNewswire - Apr 27, 2017

ikaSystems

Southborough, MA 01772, US
Business Products & Services
www.ikasystems.com

ikaSystems Corporation provides Web-based enterprise resource planning technology for process automation and intelligence management to support health insurers’ commercial, and Medicare and Medicaid businesses. The company offers member portal, which supports administrative self-service; provider portal that automates processes, such as eligibility verification, claims submission, and authorization and referral submission and approval; employer portal, which includes online census/claims submissions, roster management, off-cycle transactions, electronic billing/reconciliation, and employer reporting functions for administrators; and admin portal that enables health plan administrative staff to complete transactions and manage health plan processes. It also provides ikaClaims, a claims administration and customer service system that delivers auto-adjudication rates; ikaBilling, a configurable premium billing solution, which allows health plans to set their rules for late payments and benefit revocation, and members and others to make payments online; ikaDWH, a database for claims, laboratory, pharmacy, encounter data, practice management, and electronic medical record information that supports standard and ad hoc report generation; and ikaCM and ikaDM, solutions that connect disease and case managers, physicians, and patients for information sharing and collaboration, as well as provides identification, stratification, enrollment, monitoring, alerting, and self-management tools. In addition, the company offers ikaProHEDIS+, a Web-based application that combines analytic and workflow tools to enable quality management; and ikaP4P, an real-time pay-for-performance application that allows health plans to define their
P4P programs, set up P4P parameters, and monitprograms. It serves companies in the commercial, government, telecommunications, insurance, and financial sectors. The company was founded in 1999 and is headquartered in Southborough, Massachusetts.

Management

 
Chief Executive Officer
Joseph V. Marabito

Joseph V. MarabitoJoe Marabito oversees all functional areas of ikaSystems and presides over the companys day-to-day operations. He joined ikaSystems from Medco Health Solutions, Inc., the countrys top pharmacy benefits management company. Responsible for Medcos consumer-directed healthcare product line, he guided its rapid growth to 2.9 million members and led a doubling of margin realization.

Prior to his role at Medco, Mr. Marabito was executive vice president, chief customer officer, and chief operating officer at NaviMedix, Inc., now NaviNet, Inc., a company that connects healthcare providers and payers using Web and electronic data interchange technologies. There, among other achievements, he oversaw nationwide expansion to all 50 states while restructuring operations and account management areas, driving higher customer satisfaction scores, increasing revenue, and doubling margins from existing customers.

Mr.

 
Chief Technology Officer
Doug Bachelor

Doug BachelorDoug Bachelor oversees all engineering, architecture, research and development, infrastructure strategies, and execution models and works closely with other senior ikaSystems leaders to set and guide the technology strategic direction and to support the delivery of client integrated solutions.

Mr. Bachelor brings to ikaSystems over 25 years of experience in world class enterprise level software, award winning platforms, transforming and evolving operational processes and technologies to best practices and standards, developing highly empowered teams, delivering breakthrough innovation, and achieving demonstrable marketplace differentiation and value return. He has founded several successful entrepreneurial companies and has deep expertise in cloud computing, service oriented architecture (SOA) and multi-tenancy, distributed and parallel computing, rules and intelligent systems, business intelligence, large data processing, and claims systems.

Mr.

 
Chief Financial Officer
Bradley T. Miller

Bradley T. MillerBrad Miller oversees ikaSystems financial operations and brings a diverse background of financial and managerial experience to the company. Prior to joining ikaSystems, Mr. Miller was the chief financial officer of Emptoris, a global software provider of procurement management solutions, where he led the sale and subsequent integration of the company into IBM. Prior to Emptoris, Mr. Miller held the chief financial officer and other financial executive positions in public technology companies, including Aspen Technology, Viisage (acquired by L-1 Identity Solutions), Sonus Networks, Sapient, and Wang Global (acquired by Getronics, N.V.).

Mr. Miller started his financial career as a certified public accountant with the international public accounting firm of Coopers & Lybrand. He has a B.A. from the College of William and Mary and an M.B.A. from the University of New Hampshire.

 
Vice President Sales
Philip J. Spinelli

Philip J. SpinelliPhilip J. Spinelli, who serves as ikaSystems senior vice president of sales, has over 25 years of sales and marketing experience, including an extensive healthcare payer technology background. Mr. Spinelli has held a number of executive leadership positions in the healthcare industry, successfully overseeing sales, delivery, and strategic business growth.

Before joining ikaSystems, he worked as senior vice president of sales and marketing for Amisys Synertech (ASI), which was acquired by DST Health Solutions.

Prior to his work with ASI and DST, he held a variety of senior sales and operational positions across the technology and healthcare industries, including at CareTech Solutions and Electronic Data Systems (EDS).

Mr. Spinelli holds a BS in business administration from Central Michigan University and an MBA from Michigan State University.

 
Vice President
Dave Lucey

Dave LuceyDave Lucey, who serves as senior vice president of client services, is responsible for assisting ikaSystems clients with solution design, delivery, and ongoing services leveraging the ikaSystems platform.

Prior to joining ikaSystems, Mr. Lucey was general manager of information management and business intelligence solutions at IMS Health, guiding the companys professional services practice.

Previously he held the position of vice president of healthcare profiling solutions at SDI Health, which IMS acquired in January 2011, and served as vice president of professional services at NaviNet, a healthcare SaaS provider aimed at streamlining workflow and communications between payers and providers. There he managed product development, professional services, and solution delivery, leading NaviNet to become Americas largest real-time healthcare communications network.

Mr.

 
Director
Steve Wiggins

Steve WigginsSteve Wiggins founded Oxford Health Plans and served 14 years as the companys chairman of the board and chief executive officer. Under his leadership, Oxford grew to over $5 billion in annual revenue and ranked among the 300 largest U.S. corporations.

Mr. Wiggins was also the founder, chairman, and chief executive officer of HealthMarket, Inc., an insurance company that gave birth to innovative consumer-driven health plans and grew to over $150 million in revenue before being acquired by UICI. In 1993, he cofounded Health Partners, Inc., a physician practice management company that grew to $140 million in annual revenue before it was sold.

In addition, Mr. Wiggins was a principal cofounder of Intelliclaim, Inc., which provided claim auditing and productivity software and services to over 20 health insurers before it was sold to McKesson, and of BenefitPort, LLC, a consolidation of health insurance general agencies.

 
Chief Financial Officer
Edward E. Saraiva

 

 
Chief Financial Officer
Ian Belinsky

 

 
Director
Michael N. Gray

Michael Gray is a Principal at Providence Equity Partners.

He is currently a director of Univision Communications and an observer to the boards of CDW and NEW Asurion.

Prior to joining Providence in 2004, Mr. Gray worked for First Union Capital Partners, where he focused on media, wireless and information services investments.

Mr. Gray received a Master of Business Administration from the Stanford Graduate School of Business and a Master of Accounting and Bachelor of Science from the University of North Carolina.

 
Director
William S. Hughes

Will Hughes is a vice president at Providence Equity Partners, LLC.

Before joining Providence, he was an associate at Summit Partners, where he focused on growth equity and middle-market investments.

He was also special assistant to the chief executive officer at Netdecisions Group and an analyst in Lehman Brothers technology investment banking group.

Mr. Hughes received an MBA from Harvard Business School and a BA from Dartmouth College.

 
Director
Leslie V. Norwalk

Leslie Norwalk is strategic counsel to Epstein Becker & Green P.C., EBG Advisors, and National Health Advisors.

She is also a principal in Norwalk & Associates, and she sits on the boards of directors of Broadlane, Sound Inpatient Physicians, Guardian Healthcare, and Sante Pediatric Rehabilitation.

As the acting administrator of the Centers for Medicare & Medicaid Services (CMS), Ms. Norwalk managed the day-to-day operations of Medicare, Medicaid, State Childrens Health Insurance Program, the survey and certification of healthcare facilities, and other federal healthcare initiatives. For four years prior to that, she was the agencys deputy administrator, responsible for the implementation of the hundreds of changes made under the Medicare Modernization Act, including the Medicare prescription drug benefit.

Prior to this role, Ms. Norwalk practiced law in the Washington, D.C., office of Epstein Becker & Green, P.C.

 
 
Kate Criniti

Kate CrinitiMs. Criniti, who serves as ikaSystems general counsel and chief compliance officer, has over 14 years of legal experience, with a particular focus on venture capital-backed technology companies.

Before joining ikaSystems she was the general counsel at Americas for Day Software (DAYN), which was acquired by Adobe Systems in October 2010.

Prior to her work at Day Software, she founded ClearCourse Advisors LLC, which provided outsourced general counsel services to emerging-growth companies; was the general counsel of ThingMagic, Inc.; and held senior legal positions at VeriSign (VRSN), Guardent, Inc. (acquired by VeriSign in February 2004), and IONA Technologies (IONA).

She began her legal career at Testa, Hurwitz & Thibeault in Boston, where her practice focused on mergers and acquisitions, securities law, venture capital financings, and general corporate representation of technology companies.

Ms. Criniti graduated cum laude from Boston College Law School and Bates College.

 
Director
Dennis G. Dracup

Dennis Dracup, executive chairman of the board, is an operating partner of Providence Equity Partners, LLC.

Prior to joining Providence in 2013, Mr. Dracup was most recently executive chairman of Language Line Services, the worlds largest language interpretation company.

Mr. Dracup also served as CEO of Language Line Services from 2001 to 2011.

Before that, Mr. Dracup held various senior management positions, including CEO of Gemkey.com, president of Pitney Bowes Software Solutions, and vice president and general manager of Moore Business Communication Services.

Mr. Dracup currently serves on the boards of Language Line Services and Sorenson Communications.

Mr. Dracup received a Master of Business Administration (Finance) from the State University of New York, a Master of Science (Information Services) from Roosevelt University, and a Bachelor of Arts (English) from Canisius College.

 
Director
Jesse M. Du Bey

Jesse Du Bey is founder and managing partner of Orkila Capital, a private equity firm focused on media, technology, and special situations investments.

Prior to founding Orkila, Jesse was a managing director at Providence Equity Partners, the worlds leading investment firm focused on media, technology, and information services, with over $23B under management.

Jesse is currently a Board Director of Heartflow, Inc., Bellator (a Viacom company), World Triathlon Corporation (Ironman), ikaSystems, Crash Line Productions, and The DuBey Family Foundation.

Jesse is a graduate of the University of Washington and is a native of Seattle, WA.

 
 
Ravi Ika

Executive Chairman and Founder at ikaSystems

 

Summary

Prior Year RevenueCurrent Year RevenueNext Year Revenue

 

Company AgeEmployeesSub-Industry
18 years, 3 months15Other Business Products & Services

 

Company TypeStock ExchangeStock Symbol
Privately-Held
Contact Information:

Joseph V. Marabito

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