Our History

The founders of RxAdvance have impressive track records that include decades of building disruptive technology platforms that transform the status quo of the health insurance industry. These platforms have led to significant administrative and medical cost reduction across enterprises. Below are the highlights of this diverse and influential history:

2000-2004

2005-2008

2009-2012

2013-Present

2000: Inception of ikaSystems

2001: Introduction of cloud computing into the healthcare industry

2002: Construction of ikaSystems’ end-to-end payer enterprise platform

2003: Deployment of self-service transactional portals for members, employers, providers, and brokers

2004: Development of a web-based claims processing system

2005: Development of a web-based claims processing system;
Onboarding of clients: Kaiser Permanente, Medica, and Parkview

2006: Construction of enterprise medical management system
Onboarding of clients: UPMC, Unity, and CDPHP

2007: Launch of comprehensive ikaEnterprise platform, including comprehensive medical management
Onboarding of clients: Presbyterian, MVP, and UPMC Medicare

2008: ikaSystems signed on with BCBS, Michigan

2009: Nine health plans adopted Medicare Gateway
Providence Equity investment confirmed ($140mm)

2010: BCBS, Michigan Medicare enterprise platform deployment

2011: Inception of HIX platform

2012: Dell-ika partnership at BCBS, Michigan reduced Medicare PMPM admin cost from $21 to $11 (an industry showcase)

2013: ikaEnterprise is used by 30 insurance carriers comprising of 35 million lives

2013: Inception of RxAdvance

2015: Completion of Collaborative PBM Cloud™ platform (July 15th)
Acquired RxAdvance’s first full service PBM nirvanaRxCloud client (October)

2016: RxAdvance goes live with its first client, Avera Health Plan (January 1st). Realizes year-to-date negative pharmacy and specialty trends
Inception of nirvanaAccountableCare™ and nirvanaSpecialty™ service offerings