Ingenix Health Information Exchange Solutions Offers
Next-Generation Data Connectivity for All Health Care System Participants
NEW ORLEANS, La. , February 26, 2007 — Ingenix, a leading health information technology company, today launched its innovative Health Information Exchange Solutions that is expected to help physicians, hospitals, health plans and administrators operate more efficiently by enabling real-time, 24/7 access to and exchange of critical financial and clinical data. Ingenix will showcase three new products and discuss its long-term plans to improve data exchange within the health care system at HIMSS ® ’07 at the Ernest N. Morial Convention Center in New Orleans at Booth #3927.
Ingenix Health Information Exchange Solutions is a portfolio of integrated health information technology and connectivity offerings that will make data accessible to all health care system participants in real time using open networks and products. All clinical and financial data will comply with Health Insurance Portability and Accountability Act (HIPAA) and electronic data interchange (EDI) standards. Ingenix offers comprehensive EDI solutions that let providers and payers exchange information both directly and through a clearinghouse.
Ingenix Health Information Exchange Solutions includes three new products:
- Ingenix TransactionManager – This software solution helps providers optimize direct transaction exchange with payers and clearinghouses by scrubbing and adjusting transaction content and formats, screening for HIPAA and payer companion guide compliance, triggering automated claims status and eligibility inquiries, and tracking transaction and reconciliation analytics.
- Ingenix Connectivity Director – This technology helps payers improve data integrity and increase auto-adjudication rates. Ingenix software validates and normalizes received data, fixes errors, confirms eligibility, and then routes the screened transactions for processing. Ingenix offers this front-end transaction management function to payers as an outsourced service, or as integrated applications within payers’ own data centers.
- Ingenix Transaction Director – This technology validates, routes, edits, remedies and reconciles eligibility- and claims-related transactions for payers. Clients can achieve increased auto-adjudication through its application and also strategic trading partner management based on its EDI reporting and analyses.
In addition, Ingenix Health Information Exchange Solutions includes transaction gateways and portals that serve as multi-payer interfaces where providers can submit claims, check patient eligibility, track status of claims, submit referrals and receive electronic remittance advices. Provider testing and certification services also enable providers to test their EDI transaction capabilities and certify readiness to send and receive HIPAA transactions. Key elements of this portfolio came from Claredi ® and ENS, leaders in health information technology and connectivity, which Ingenix purchased in 2006.
“Ingenix is directly connecting health care providers and payers in a unique way, and delivering a simpler, more efficient way to do business,” said David Ostler, executive vice president of the business solutions group at Ingenix. “Ingenix Health Information Exchange Solutions creates a powerful network within which participants in the health care system can communicate and share clinical and financial data, both directly and through intermediaries, real-time and in batches. This secure ‘ medical Internet ’ is both an electronic data interchange and a clearinghouse, and is expected to enhance how providers and payers administer and deliver health care.
“Other industries have radically simplified how they process transactions through innovations such as ATMs, electronic bill payment or online travel booking. Our Health Information Exchange Solutions removes bottlenecks, errors and obsolete processes and revolutionizes how the health care industry connects for the benefit of all,” Ostler said.
The Center for Information Technology Leadership’s report on The Value of HealthcareInformation and Exchange Interoperability estimated net benefits to the U.S. health care system of $20 billion annually based on efficient payer-provider administrative connectivity.
About Ingenix
Ingenix, a wholly owned subsidiary of UnitedHealth Group (NYSE: UNH), transforms organizations and improves health care through information and technology. Organizations rely on its innovative technology to improve the delivery and operations of their business. More information about Ingenix and its products and services can be obtained at http://www.ingenix.com.
Forward-Looking Statements
This press release may contain statements, estimates, projections, guidance or outlook that constitute “forward-looking” statements as defined under U.S. federal securities laws. Generally the words “believe,” “expect,” “intend,” “estimate,” “anticipate,” “project,” “will” and similar expressions, identify forward-looking statements, which generally are not historical in nature. These statements may contain information about financial prospects, economic conditions, trends and unknown certainties. We caution that actual results could differ materially from those that management expects, depending on the outcome of certain factors. These forward-looking statements involve risks and uncertainties that may cause our actual results to differ materially from the results discussed in the forward-looking statements. Some factors that could cause results to differ materially from the forward-looking statements include: the potential consequences of the findings announced on October 15, 2006 of the investigation by an Independent Committee of directors of our stock option programs (including the consequences of our determination that the Company’s financial statements for the years ended 1994 to 2005, the interim periods contained therein, the quarter ended March 31, 2006 and all earnings and press releases, including for the quarters ended June 30, 2006 and September 30, 2006, and similar communications issued by the Company for such periods and the related reports of the Company’s independent registered public accounting firm should not be relied upon, the consequences of the resulting restatement of our financial statements for those periods, and delays in filing our quarterly reports on Form 10-Q for the second and third quarters of 2006), related governmental reviews, including a formal investigation by the SEC, and review by the IRS, U.S. Senate Finance Committee, U.S. Attorney for the Southern District of New York and Minnesota Attorney General, a related review by the Special Litigation Committee of the Company, and related shareholder derivative actions, shareholder demands and purported securities and Employee Retirement Income Security Act (ERISA) class actions, the resolution of matters currently subject to an injunction issued by the United States District Court for the District of Minnesota, a purported notice of acceleration with respect to certain of the Company’s debt securities based upon an alleged event of default under the indenture governing such securities, and recent management and director changes, and the potential impact of each of these matters on our business, credit ratings and debt; increases in health care costs that are higher than we anticipated in establishing our premium rates, including increased consumption of or costs of medical services; heightened competition as a result of new entrants into our market, and consolidation of health care companies and suppliers; events that may negatively affect our contract with AARP; uncertainties regarding changes in Medicare, including coordination of information systems and accuracy of certain assumptions; funding risks with respect to revenues - received from Medicare and Medicaid programs; increases in costs and other liabilities associated with increased litigation, legislative activity and government regulation and review of our industry; our ability to execute contracts on competitive terms with physicians, hospitals and other service providers; regulatory and other risks associated with the pharmacy benefits management industry; failure to maintain effective and efficient information systems, which could result in the loss of existing customers, difficulties in attracting new customers, difficulties in determining medical costs estimates and appropriate pricing, customer and physician and health care provider disputes, regulatory violations, increases in operating costs, or other adverse consequences; possible impairment of the value of our intangible assets if future results do not adequately support goodwill and intangible assets recorded for businesses that we acquire; potential noncompliance by our business associates with patient privacy data; misappropriation of our proprietary technology; and anticipated benefits of acquiring PacifiCare that may not be realized.
This list of important factors is not intended to be exhaustive. A further list and description of some of these risks and uncertainties can be found in our reports filed with the Securities and Exchange Commission from time to time, including our annual reports on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K. Any or all forward-looking statements we make may turn out to be wrong. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. Except to the extent otherwise required by federal securities laws, we do not undertake to publicly update or revise any forward-looking statements. |
