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Healthcare's Hottest No. 4: Extend Health, a Towers Watson company

By Modern Healthcare
Posted: September 28, 2013 - 12:01 am ET

What it does: Extend Health provides health benefit management services using its proprietary exchange platform and decision-support tools and operates the largest private Medicare exchange.

How it grew to become one of healthcare's hottest Extend Health built its exchange in 2004 to respond to automaker Chrysler's needs for its Medicare-eligible retirees. In buying a one-size-fits-all group plan, Chrysler executives told Extend Health that the company's costs kept rising and much of it had to be passed on to the retirees. “The retirees were not happy with the price or the options,” says co-founder and CEO Bryce Williams. And once Chrysler started using the exchange, soon Ford and General Motors were also moving over their retirees.

“Companies of all sizes and scales beyond auto manufacturers asked if this is a better and more efficient way to buy coverage, and they said yes,” Williams says. More than 200 employers now use the exchange.

Extend Health will launch its private exchange for active employees this fall, also offering access to part-time and seasonal workers.

4. Extend Health, a Towers Watson company

Location: San Mateo, Calif.

Top executive: Bryce Williams, co-founder and CEO; managing director of Towers Watson's Exchnage Solutions

Number of employees: 328

Annual revenue (2012): $67.3 million

Compounded revenue growth (2007-12): 97.5%

Website: www.extendhealth.com





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