WEX Health Recent Developments
In June 2018, WEX Health, a WEX Company introduced significant new features and functionality to its WEX Health Cloud platform through its recent June 2018 Release. The updates reflect WEX Health’s continued focus to improve usability and deliver greater value to consumers, employers, and its network of Partners. The June 2018 release introduces the WEX Health Cloud COBRA & Direct Billing Mobile App, which provides consumers ease of use and quick accessibility to several convenient WEX Health COBRA & Direct Billing features, including online registration and election, credit/debit card payments, recurring ACH, and one-time checking/savings payments. The app, which uses PIN security, enables consumers to view communications as well as payment history. Updates to the WEX Health Cloud Mobile App include a user interface refresh and the ability for administrators to modify colors. With the Eligible Expense Scanner, consumers now can scan a product barcode to determine eligibility as a qualified medical expense. On the health savings account (HSA) front, investment details such as fund activity, balance, the rate of return, and related graphs are now readily available. The June 2018 release also includes updates to the WEX Health Cloud Consumer Portal. Consumers are met with a new, dynamic, and interactive homepage that features an enhanced message center. Identity verification management (IDV) provides an efficient and secure way for consumers to upload documents and for administrators to view and store highly sensitive information. Additionally, the Healthcare Savings Goal simulates a personalized conversation about the consumer’s plan for healthcare savings.
WEX Health Overview
Ownership: - x
Employees: 3500
Functional Market: Customer Relationship Management, ERP Financial Management, ERP Services and Operations Management, Human Capital Management,
Key Verticals: Healthcare,
WEX Health Key Enterprise & Cloud Applications
WEX Health Cloud,
SCORES Analysis
WEX Health Strengths
WEX Health serves 125,000 employers and more than 12,000,000 consumers across the United States and Canada, making it one of the largest cloud-based, consumer-directed healthcare (CDH) and defined contribution payments and technology solutions providers for the healthcare industry. WEX Health introduced new features and functionality to its WEX Health Cloud platform through its October 2018 Release. The updates reflect WEX Health’s continued focus to engage, grow, and simplify the healthcare benefits administration process for consumers, employers, and its network of partners. This release reflects the commitment to enabling partners to further engage with employers and consumers to help them make better decisions about their healthcare benefits.
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- Key differentiators
- Domain Expertise
- Product portfolio
- Solution scope
WEX Health Revenues, $M:
| Type/Year | 2016 | 2017 | YoY Growth, % |
|---|---|---|---|
| Total Revenues, $M | Subscribe | Subscribe | Subscribe |
| Enterprise Applications Revenues, $M | Subscribe | Subscribe | Subscribe |
| Cloud Applications Revenues, $M | Subscribe | Subscribe | Subscribe |
* Enterprise Applications Revenues = License + Support & Maintenance + SaaS
** All revenue figures are estimates based on public records, Cloud and Non-Cloud business models in Apps Run The World's vendor database, and annual survey results including vendor feedback.
WEX Health Revenue Breakdown By Type, $M:
| Type | License | Services | Hardware | Support & Maintenance | SaaS |
|---|---|---|---|---|---|
| % of Total Revenues | Subscribe | Subscribe | Subscribe | Subscribe | Subscribe |
| Revenues, $M | Subscribe | Subscribe | Subscribe | Subscribe | Subscribe |
WEX Health Enterprise Applications Revenues By Functional Markets, $M:
WEX Health Enterprise Applications Revenues By Verticals, $M:
WEX Health Revenues By Region, $M
| Region | % of Total Revenues | 2017 Total Revenues, $M | 2017 Enterprise Applications Revenues, $M | 2017 Cloud Applications Revenues, $M |
|---|---|---|---|---|
| Americas | Subscribe | Subscribe | Subscribe | Subscribe |
| EMEA | Subscribe | Subscribe | Subscribe | Subscribe |
| APAC | Subscribe | Subscribe | Subscribe | Subscribe |
| Total | Subscribe | Subscribe | Subscribe | Subscribe |
WEX Health Direct vs Indirect sales
| Region | Direct Sales | Indirect Sales | Total |
|---|---|---|---|
| Type % | Subscribe | Subscribe | Subscribe |
| Revenues, $M | Subscribe | Subscribe | Subscribe |
WEX Health Customers
No. of Customers: Subscribe
No. of Enterprise Applications Customers: Subscribe
No. of Cloud Customers: Subscribe
No. of Cloud Subscribers: Subscribe
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- Reference wins across regions
- Customer Size segments
- Customer wins momentum
WEX Health Opportunities
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- Market Opportunities at the vertical and subvertical levels
- Mergers and Acquisitions (M&A), Funding
- Geo Expansions
WEX Health Risks
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- Ability to handle internal and external risk and challenges
WEX Health Ecosystem
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- Health of ecosystem
- Network Effects of BPO, ISV, SI
- VAR Partners
- Direct vs Indirect sales
WEX Health Cloud Infrastructure Insights
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- Cloud Infrastructure (IaaS)
- Cloud Platform (PaaS)
- Cloud Application delivery (SaaS)
- Data Center (Hosting)
Research Methodology
Data used in research reports are derived from publicly available documents, continuous surveys of applications vendors, customers, resellers, Independent Software Vendors, systems integrators and other verifiable sources.
Vendor shares and market forecast results are based on a combination of existing databases as well as demand side and supply side research conducted throughout the year with validation from vendors, customers, channel partners and documentations such as earnings releases and 10Q and 10K filings, vertical industry studies, regional and country-level statistics from public and private institutions(i.e. colleges, universities, government agencies and trade associations).
For additional information on our methodologies, here's the link:
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