Monday, November 9, 2009

Cantor Fitzgerald Launches New Technology Offering To Reduce Corporate Healthcare Costs

New Service Simplifies Healthcare Cost Management and Containment for Businesses

New York, NY – October 26, 2009 — Cantor Insurance Group, a unit of Cantor Fitzgerald LP, has joined with Healthcare Interactive to introduce Cantor Health Interactive, a new healthcare software management tool to help businesses monitor and reduce their healthcare costs.

“Most corporations know more detail about the cost of their inventory and office supplies than they do about the cost of their healthcare. Employers need sophisticated tools to measure and control these costs. Our software provides innovative forecasting and simulation capabilities that prevent companies from being blindsided by unexpected medical and pharmacy costs,” said Stuart Hersch, President of Cantor Insurance Group.

“Healthcare costs do not need to rise inexorably and inevitably,” Hersch stated. “We want our clients and their employees to be as educated about healthcare costs as those selling them insurance products and services. Our technology will promote competition; competition will drive down the costs.”

“Cantor has a long and distinguished history of launching new technologies in the financial services industry designed to improve transaction efficiency. We are now applying that philosophy and those skills to control runaway healthcare costs,” he added.

“The Cantor Health Interactive service model is designed to simplify healthcare information and delivery. With the right tools, understanding, education and incentives, we help businesses lower costs today and limit increases in the future,” said Henry Cha, President of Healthcare Interactive.

The Cantor Healthcare Interactive software, which is delivered through a secure, integrated, HIPAA – compliant, intelligent on-line network, has been deployed and tested by more than 100 corporations resulting in average savings of more than 15% on total healthcare costs.

###

About WellNet Healthcare

WellNet Healthcare enables companies and their executive management team to measure and manage their healthcare costs by finding and fixing problems using real-time healthcare information to make better business decisions that lower healthcare costs. For more information, visit their Web site at www.WellNet.com.

About Healthcare Interactive

Healthcare Interactive, founded in 2007, is a privately-held software company commercializing innovative technologies for healthcare administration and insurance. Healthcare Interactive has developed an information portal and intelligence technologies to enhance individual’s health with products that focus on predictive modeling, information sharing, and intelligent Web services. The company’s signature product is Point to Point Healthcare. For more information visit www.hciactive.com.

About Cantor Fitzgerald

Cantor Fitzgerald, a leading global financial services firm at the forefront of financial and technological innovation, has been a proven and resilient leader for over 60 years. The Cantor Fitzgerald franchise includes institutional fixed income and equity sales and trading, investment banking, real estate private equity, and other businesses and ventures.

Cantor Fitzgerald is one of 18 primary dealers authorized to trade U.S. government securities with The Federal Reserve Bank of New York. Cantor Fitzgerald’s 1,400 employees serve clients through 36 locations, including major financial centers around the world in the Americas, Europe, Asia/Pacific, and the Middle East. For more information visit www.cantor.com.

About Cantor Insurance Group

The Cantor Insurance Group was formed in 2005 to develop new and innovative products and services that bridge the financial and insurance markets. The Cantor Insurance Group operates a number of companies that broker insurance products, trade and service life settlements and advise clients on insurance-related financial products.

Originally published by the Cantor Fitzgerald Newsroom.