TriZetto Corporation
today announced its acquisition of Franklin, Tenn.-based
Healthcare Productivity
Automation (HPA). HPA’s healthcare workflow
automation solutions will be integrated with TriZetto’s business management services unit over the coming months.
Terms of the transaction, which closed on Dec. 17, were not disclosed.
HPA solutions employ a highly advanced, cloud-based claims workflow
tool, Health Mason®. The Health Mason solution automates certain
manual processes in claims administration, which can greatly improve the
efficiency and quality of the provider reimbursement process. The tool replicates
human decision-making to review large volumes of claims, enter data and
determine the best way to process claims. Processing can be up to 30 times
faster than typical manual processes, with high reliability – more than 95
percent first-pass accuracy on a rolling 12-month average across HPA’s book of
business.
“The acquisition of HPA underscores TriZetto’s continuing
investment strategy to provide innovative, integrated technology and service
solutions that simplify healthcare and improve both its efficiency and effectiveness
for payers, providers and members,” said Harish Mysore, senior vice president
of corporate development and strategic alliances at TriZetto. “This acquisition
builds on our commitment to enhance payer-provider collaboration by increasing
the quality, accuracy and efficiency of claims processing and payment.”
“We’re excited to join TriZetto because its large payer and
provider client base allows us to make a bigger impact on healthcare,” said Sal
Novin, HPA’s CEO. “In managing the claims administration function of dozens of
health plans, TriZetto will leverage HPA’s technology to bend the cost curve of
processing claims and increase administrative efficiencies for both healthcare
payers and providers.”
ClickToTweet: TriZetto acquires workflow #automation
company @HPAPro to improve claims processing #efficiency for #payers and
#providers.
About TriZetto
TriZetto
provides world-class information technology and service solutions that help
payers and providers work more efficiently and collaborate to deliver better health. TriZetto
solutions touch over half the U.S. insured population and reach more than 200,000
care providers. TriZetto helps healthcare organizations enhance administrative efficiency; improve the cost, quality and delivery of care;
address compliance; and compete to win in an emerging
retail market. Payer solutions include benefits administration, care management, network management and portal platforms, as well as consulting, application management and business management services. Provider
solutions include real-time eligibility assurance, claims editing, revenue cycle management technology and services
that help providers get paid quickly and accurately. For more information,
visit www.trizetto.com.
Media
Contacts:
Davida Dinerman / Maggie Fairchild
Schwartz MSL Boston
781-684-0770
trizetto@schwartzmsl.com
Loren Finkelstein
The TriZetto Group
303-542-2460
loren.finkelstein@trizetto.com