Ingenix's Comprehensive Workers' Compensation E-Billing Solution Delivers Customer Value
EDEN PRAIRIE, Minn. – Apr. 28, 2008 – Ingenix, a leading health information, technology and consulting company, announced today that its e-billing solution is helping companies such as Pinnacol Assurance significantly enhance efficiency, control administrative expenses and maintain compliance with state requirements.
Pinnacol, the assured and trusted source of workers' compensation insurance for nearly 60,000 Colorado employers, estimates that its implementation of Ingenix's e-billing services will offer more than $1.2 million of back-office management and productivity savings related to medical billing and payment over the next five years, for a projected 243 percent return on its investment. The company processes approximately 850,000 health care provider bills annually, with about 52 percent submitted electronically. Pinnacol pays providers within 11.5 days of claim submission on average, with financial accuracy of more than 99 percent – in part due to Ingenix’s e-billing services.
"Ingenix's e-billing solution is proving its value for our business, our policyholders, and our health care partners," said Ken Ross, president and CEO of Pinnacol. "We believe that by employing the most advanced claims-handling and billing technologies and controlling administrative costs, we can continue to set the standard for innovation and customer service that our stakeholders have come to expect."
"Ingenix and Pinnacol have partnered for nearly 10 years on enhancing and streamlining electronic bill payment processes," said Anne Ritter, senior vice president of Ingenix. "Together, we have implemented a comprehensive and reliable e-billing solution that delivers significant process efficiencies and bottom-line results."
Ingenix's end-to-end Workers’ Compensation Electronic Data Interchange (EDI) solution enables workers’ compensation industry stakeholders to access and exchange critical financial and clinical data in real-time, directly and in batches through secure transaction gateways and portals. In addition, Ingenix software edits incoming medical bills to ensure that required data is present and accurate, increasing the efficiency of thousands of information exchanges per day. The system also seamlessly processes electronic attachments from practice management and document management solutions, and offers integrated submission of First and Subsequent Reports of Injury in the e-billing process.
Ingenix's e-billing solution enables workers’ compensation health care providers and payers to comply with initiatives from the states of Texas and California mandating electronic transmission of medical bills and other related documents. "Ingenix has taken the lead in this market not only with the breadth and quality of our solution, but also our regulatory compliance expertise," said Ritter. "We partner directly with states to develop EDI processes and standards, and with clients to help them understand and comply with legislative mandates."
Ritter added, "The leaders of the workers’ compensation industry, such as Pinnacol, are relying on proven Ingenix technology and expertise to streamline processes while maintaining regulatory compliance. The benefits are clear."
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 products, services and consulting to improve the delivery and operations of their business. More information about Ingenix can be obtained at www.ingenix.com.
About Pinnacol Assurance
For more than 90 years, Pinnacol Assurance has been Colorado's assured and trusted source of workers' compensation insurance for Colorado employers. Through its affiliated agents, Pinnacol provides comprehensive, competitively priced coverage; immediate attention to claims; a highly qualified network of SelectNet medical providers; and proactive safety programs to approximately 60,000 Colorado businesses. Over the past three years, Pinnacol has returned $172 million in general dividends to its policyholders statewide – a mark of the company's stable and strong financial health. For more information, visit www.pinnacol.com. | 
