CIGNA, based in Philadelphia, has announced the acquisition of Great-West Healthcare, the Denver-based healthcare division of the Great-West Life & Annuity Insurance Company, for $1.5 billion in cash and additional capital of $400 million.
The Tri-Isthmus Group, Inc., a Los Angeles-based provider of financial solutions to the healthcare industry, has announced the signing of strategic agreements with PHNS, Inc., a Dallas-based company that provides IT and financial management solutions to hospitals and multi-facility healthcare systems, and Financial Resource Group, LLC, a Dallas-based healthcare consulting company.
The TriZetto Group, Inc. of Newport Beach, Calif. has been selected by the Triple-S Management Corp., a San Juan, Puerto Rico-based managed care health plan serving approximately 1 million members, to deploy the QNXT core administrative enterprise system, which is designed to support greater efficiency in payers' claim processing, claims re-pricing, premium billing, membership administration and customer service, among other core administrative options.
The Fifth Third Bank of Cincinnati has announced a strategic alliance with GHN–Online and Revenue Management Solutions, two Dallas-based providers of revenue cycle management services to the healthcare industry, to deliver a comprehensive claims processing and remittance solution for healthcare providers. The alliance will allow Fifth Third Bank to capture the entire data stream, from claims to payments, and integrate that data into a single, Web-based view of healthcare providers' accounts receivables.
BurgessGroup, an Alexandria, Va.-based Medicare-based data and IT solutions provider, has signed a three-year contract renewal with CalOptima, an Orange County, Calif.-based public agency created by the state's Medicaid program, Medi-Cal. Under the renewed contract, CalOptima will continue to use the Burgess Reimbursement System, integrating solutions for Inpatient Hospital (DRG-based) and Home Health provider payments and adding BurgessGroup's automated BRS BatchPricer.
Innodata Isogen, Inc., a New Jersey-based provider of knowledge process outsourcing services, has secured an outsourcing agreement worth approximately $1 million to analyze and deliver healthcare data to a leading provider of medical information. Under terms of the deal, analysts from the company in Asia and the United States will analyze data provided by independent medical associations and create summaries that will be delivered to subscribers, primarily healthcare professionals, through the information provider's online platform.
Practice Fusion, based in San Francisco, and MTBC, of Somerset, N.J., have announced the integration of MTBC's revenue cycle and practice management products with Practice Fusion's free on-demand electronic medical record (EMR) system.
The SSI Group, Inc., of Mobile, Ala. has announced the opening of a satellite office in Nashville, Tenn., the fifth such office to be opened by the company, which manages revenue cycle management and claims processing for providers, payers and physicians.
MediClick, of Raleigh, N.C., has unveiled MediClick for Contracts & Analysis, a tool designed to combine automation, analysis, statistics and a dashboard interface to streamline the contract management process and foster decision-making for the healthcare supply chain and financial executives.
Picis, Inc. of Wakefield, Mass. has announced the release of Picis Perioperative Dashboard, a Business Activity Monitoring (BAM) solution for perioperative departments.
Pleasanton, Calif.-based Zoho has unveiled Zoho Invoice, an online invoice generation and tracking application designed for organizations looking to run their businesses online.
CareAnywhere, a Cary, N.C. provider of mobile and Web-based applications for home health and hospice providers, has raised $2 million from SaaS Capital, Inc. of Cincinnati. The company will use the cash infusion to drive development of new products and expand operations.
Affiliated Computer Services of Dallas has signed a five-year, $87 million contract the Florida Healthy Kids Corporation to take over administration of several insurance programs for disadvantaged children. ACS will serve as a third party administrator to process applications, determine eligibility and handle premium collection.
Health Net Federal Services LLC, a Sacramento, Calif.-based division of Health Net Inc., has been chosen by the government of Dubai to develop the country's new healthcare funding system.
MdWerks, a Deerfield Beach, Fla.-based provider of Web-based electronic claims management and funding solutions for healthcare professionals, has raised $6.8 million through the sale of shares of preferred stock to Vicis Capital. The money will be used for working capital and to service existing indebtedness.
ACM, a Minneapolis-based healthcare benefits management company, has signed an agreement with Carolina Crescent Health Plan to deploy its Managed Medicaid Assist program for authorization processing, claim adjudication and provider network management of Medicaid beneficiaries throughout South Carolina.
The Premier healthcare alliance of San Diego has announced that 20 hospitals in the Shawnee Mission, Kan.-based Child Health Corporation of America are using SpendAdvisor, Premier's spend management decision-support tool, with projected first-year savings expected to exceed $10 million. CHCA anticipates another five hospitals will implement the tool in the next 18 months.
Atlanta-based MedAssets, Inc. has released PriceMaster, an integrated part of the CDM Master chargemaster monitoring and maintenance product that is designed the enable healthcare providers to address price defensibility and transparency with flexible and dynamic pricing capabilities.
GE Capital Solutions, Commercial Distribution Finance, based in Hoffman Estates, Ill., has signed an agreement to provide inventory financing terms for National Distribution & Contracting, Inc. of Nashville, member distributors in the healthcare industry.
MEDSEEK, a Birmingham, Ala.-based provider of enterprise portal management solutions, has announced that the private equity fund Eastside Partners has led a $6 million investment in the company.
Chicago-based TransUnion has announced that its Healthcare Revenue Cycle Platform, an ASP-based technology platform that determines, in real time, patient eligibility for financial assistance at point of registration, has been granted a patent.
Broadlane, a Dallas-based provider of supply chain services, has announced its 2008 pharmacy portfolio.
MphasiS Healthcare Solutions of Phoenix, Ariz. has announced the expansion of its business process outsourcing services to include claims auditing, which is a review of processed claims to determine accuracy of data capture, procedure and payment.
EZ-CAP, the Valencia, Calif.-based flagship product of MZI Healthcare, LLC, a provider of health plan administration software, has formed a strategic partnership with First Recovery Group, LLC, a cost management company focused solely on subrogation claims recovery.