Ringmaster Technologies has been recognized by CIOReview Magazine as the recipient of “Top 20 Workflow Solutions Companies - 2022,” based on our proprietary methodology, reflecting its position in the industry. This profile has been developed by the CIOReview research and editorial team based on insights from an interview with Jeremy Martin, CTO, Founder, and Chief Architect.

Ringmaster Technologies
Streamlining Workflows for Stop-Loss Professionals

Jeremy Martin, CTO, Founder, and Chief Architect

Stop-Loss marketing, procurement, and administration workflows are incredibly complex and grueling. On the one hand, brokers and third-party administrators (TPAs) send out flurries of secure emails with multiple attachments, trying to obtain the best possible coverage at the best possible price on behalf of their employer groups. On the other hand, managing general underwriters (MGUs) or carriers inundated with these emails must retrieve the information and perform laborious data entry tasks to decide whether or not to submit a quote. Often, the RFPs sent by the broker or TPA are a poor match for the business goals of the carrier or MGU, which hinders the growth and profitability of Stop-Loss professionals on both sides of the transaction. For too long, this inefficient process has been accepted as the status quo.

But change is on the horizon.

Ringmaster Technologies (RMT), a healthcare and technology expert, is disrupting the industry with its cuttingedge, cloud-based, fully automated Quote-LinQ® application and Smart-LinQ® account and settlement solution. Together, they facilitate a streamlined workflow that improves connectivity and enables administrative efficiencies for TPAs, brokers, MGUs, and carriers.

With its workflow optimization solutions, RMT integrates with dispersed systems, normalizes the data, and completely removes the manual data entry tasks from the process. By bringing TPAs, brokers, and underwriters to a single pane of glass where everything is logged, tracked, and audited, RMT enables all parties to collaborate and interact in a way that’s never been done before. Spreadsheets or share drives are now worries of the past. RMT provides clients with complete visibility into win/loss ratios, decline-to-quote percentages, and current quote status across all new or existing groups in one single dashboard.

“Our claim to fame is: we integrate with everything. We haven’t seen an influx of technology in the Stop-Loss space in over 15 years. Most of our customers don’t even know what is possible. We automate tasks that they thought were impossible to automate,” shares Jeremy Martin, CTO, Co- Founder, and Chief Architect.

With 75-80 percent of policies renewing on New Year’s Day, Stop-Loss professionals spend the final months of the year racing the clock. What’s the most common refrain Martin hears from new clients? “I’m not going through another January 1st like this.” With RMT’S workflow solutions, they don’t have to.

Powered by a proprietary mathematical formula, the Matchdex feature of their Quote-LinQ application reverse engineers carrier risk profiles, allowing producers (TPAs and brokers) to target the carriers most likely to write the requested coverage for an employer group and avoid overwhelming them with numerous mismatched RFPs. Producers can align groupspecific characteristics with underwriters and their unique risk using Matchdex, transmitting Stop-Loss RFPs to underwriters that fulfill the needs of each employer group.

On the carrier/MGU side, Matchdex helps prioritize their workload and save significant time by showing RFPs that directly correlate with their own internal quoting specifications. By focusing on RFPs that are the best match for their business goals, MGUs/carriers can increase their win rates and earn higher profits.

“Our mantra is to make Stop-Loss professionals thrive and help them become better at what they do. As proud as I am of our technology and our workflow, I’m equally proud of the relationships we have with the people in the market,” says Martin.

Through those relationships, RMT has achieved outstanding results. One client, a large national broker, used the Quote-LinQ solution to gain visibility into all 45 of their nationwide offices. Quote-LinQ saved the client significant time and money previously spent on creating and generating RFPs. After performing a time study, the same client found that RMT’s solutions reduced RFP turnaround time by 40 to 50 percent. With this aggregation of buying power, the client discovered they were leaving hundreds of thousands of dollars of uncollected override commissions on the table.

Our claim to fame is: we integrate with everything. We haven’t seen an influx of technology in the Stop-Loss space in over 15 years. Most of our customers don’t even know what is possible. We automate tasks that they thought were impossible to automate,” shares Jeremy Martin, CTO, Co- Founder, and Chief Architec

RMT is already making administrative reporting and the quoting process more efficient, streamlined, and profitable, but Martin looks forward to transforming the industry from top to bottom. Keep an eye out for announcements in the coming months about RMT’s expansion into additional services and markets.

Ringmaster Technologies

Ringmaster® Technologies, Inc and its wholly owned subsidiary, Ringmaster® Rx, Launch Pharmacy Consulting Platform

Friday, October 21, 2022

BOCA RATON, FL, USA, - Ringmaster® Technologies (RMT) a leading healthcare, software provider in the U.S. and its wholly owned subsidiary, Ringmaster® Rx announced today the launch of the first pharmacy consulting, platform to provide cloud-based tools and services for pharmacy experts who serve the self-funded community.

In working with TPA’s and Brokers representing self-funded employer groups, Ringmaster learned that clients often had difficulty interpreting and/or comparing PBM responses. Accessing AWP data and evaluating nuance contract terms such as: exclusion language, generic definitions, specialty definitions and limited distribution definitions proved to be outside the scope of what most TPA’s and Brokerage firm could handle. This created an opportunity for a technology platform to help align clients and PBMs.

The unique attributes of the - Ringmaster Rx platform provide clients with a cloud-based data warehouse integrated with a RFP workflow process that solicits, compares and awards pharmacy benefit management (PBM) contracts and programs.

“This combination of automated workflows and data warehouse capabilities gives clients the ability to customize their own panel of preferred PBM’s, generate reports, create sophisticated analytics for their employer groups and perform contract reconciliations and audits on performance. All of which is virtually impossible with today’s manual processes and the lack of access to key data,” stated Jason Wenzke, President of Ringmaster Rx. “We believe that this new platform is a huge win for pharmacy benefit consultants, Brokers and Third-Party Administrators (TPA’s) who will use the platform to take advantage of meaningful PBM sourcing solutions, analyze the performance of those contracts and ultimately manage cost for their employer groups by stepping into the ring and utilizing the system.”

“We created - Ringmaster Technologies and its subsidiary, Ringmaster Rx, because I believed we could deliver technology to self-funded experts that would improve their operations significantly and those improvements would lead to smarter investments and better health outcomes. Our great success in creating the world's only stop-loss marketplace and automation technology has shown us that the challenges in self-funded pharmacy offerings were also solvable on our technology platform and we are excited to deliver this state-of-the-art capability to our partners,” said Todd Roberti, Founder and CEO of Ringmaster Technologies.

Ringmaster Technologies®, Inc Appoints Chris Berland as Chief Financial Officer

Wednesday, July 26, 2023

BOCA RATON, FL, UNITED STATES, -- Ringmaster Technologies®, Inc (RMT) a leading healthcare software provider in the U.S., in continuation of its growth strategy, is pleased to announce the appointment of Chris Berland as Chief Financial Officer and member of the Ringmaster Executive Team. In his new role, Mr. Berland will utilize his extensive experience and outstanding record as a financial leader in both the technology and healthcare service sectors to guide Ringmaster to the fulfillment of its strategic and financial goals.

Before becoming a part of Ringmaster, Mr. Berland utilized his entrepreneurial mindset and financial expertise to support the growth objectives of companies operating in the mobile software, pharmaceutical manufacturing, and healthcare IT sectors. Notably, during his tenure as CFO of Datafile Technologies, he played a pivotal role in the company's strategic transformation, ultimately contributing to the successful sale of the business.

“Helping early and growth stage businesses realize their potential and achieve their strategic and financial objectives is what gets me up in the morning,” stated Chris. “I am very excited to be joining the Ringmaster® team comprised of like-minded visionaries whose individual and collective goals are focused on providing value to all of the stakeholders in the self-funded community.”

“Chris is a proven leader who brings an outstanding record in guiding companies to the fulfillment of their vision, mission and strategic goals,” said Todd Roberti, CEO of Ringmaster Technologies, Inc. “I am excited that Chris is now part of the Ringmaster family and I look forward to utilizing his experience to help us expand our thriving business and deliver on our long-term targets.”

Company
Ringmaster Technologies

Management
Jeremy Martin, CTO, Founder, and Chief Architect

Description
Ringmaster Technologies (RMT), a cloud-based healthcare solutions provider, is disrupting the industry with its cutting-edge, fully automated Quote-LinQ® application and Smart-LinQ® account and settlement solution.

Top 20 Workflow Solutions Companies - 2022

Ringmaster Technologies Streamlining Workflows for Stop-Loss Professionals