JERSEY CITY, N.J., October 10, 2007 – ISO announced today it has acquired HealthCare Insight®, LLC, a Salt Lake City-based company whose solutions enable healthcare claims payors to prevent fraud, abuse, and overpayment. The acquisition further advances ISO�s position as a leading provider of data, analytics, and decision-support solutions in the healthcare industry. Terms were not disclosed.
HealthCare Insight combines automated modeling and profiling of claims with the enhanced accuracy available through clinical validation. Before reporting actionable results to clients, all suspect claims and billing patterns identified by HCI�s software are reviewed by registered nurses, physicians, dentists, and other clinicians skilled in coding and reimbursement decisions. This unique combination of human and system review creates a service unlike any other in the industry and provides clients with unsurpassed claims payment accuracy.
�We are extremely pleased to be joining the ISO family of companies,� said Barry Johnson, HealthCare Insight�s president. �This combination provides us an excellent opportunity to develop new and enhanced products, expand our customer base, and establish new markets.�
�The acquisition of HCI further supports our objective to establish ISO as the leading provider of data, analytics, and decision-support solutions for healthcare claims payors,� said Frank J. Coyne, ISO�s chairman, president, and chief executive officer. �HCI provides payors with a comprehensive suite of healthcare cost containment solutions that are both effective and accurate. These solutions, coupled with those offered by our Urix business unit, represent a powerful offering in the market.� ISO�s Urix business unit combines the Urix business intelligence platform with DxCG�s predictive science.
Coyne continued, �ISO has firmly established leadership positions as a provider of fraud detection services in two of the key markets we serve property/casualty insurance and mortgage lending. HCI will now provide ISO with significant fraud and abuse detection capabilities in our other key market healthcare.�
HealthCare Insight will operate from its current Sandy, Utah, headquarters and will continue to be led by Barry Johnson. Johnson stressed that the transition to ISO ownership would be seamless to existing customers.
About HealthCare Insight® (HCI)
HCI provides healthcare claims payors with a comprehensive suite of cost containment services focused on identifying and preventing healthcare fraud, abuse, and overpayments. HealthCare Insight�s reporting enables payors to take definitive action to prevent fraudulent payments while providing clients with the information and proof necessary to identify, investigate, prevent, and pursue abusive and fraudulent provider activity. HCI�s services are seamlessly integrated into all claims adjudication operations and are affordable for payors of all sizes. For more information, visit www.hcinsight.com or call 1-800-357-7781.
ISO is a leading provider of products and services that help measure, manage, and reduce risk. ISO provides data, analytics, and decision-support solutions to professionals in many fields, including insurance, finance, real estate, health services, government, and human resources. Clients use ISO�s databases and services to classify and evaluate a variety of risks and detect potential fraud. In the United States and around the world, ISO�s services help customers protect people, property, and financial assets. More at www.iso.com.