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ICICI Infotech Partners with ObjectOrb Technologies to Enhance PREMIA Health capabilities in Provider Contracting
EDISON, N.J. --(Business Wire)-- Nov. 22, 2004 -- ICICI Infotech (www.icici-infotech.com), a leading provider of information technology products and services, announced today a partnership with ObjectOrb Technologies (www.objectorb.com) to enhance its reach and services offerings in the Third Party Administrators (TPA) market. The innovative platform, eprovion(TM) from ObjectOrb Technologies provides automation of the provider contracting workflow.
The provider contracting process, which includes the negotiating process between TPAs and Providers, requires constant tracking as agreements change and clauses are added in the contract. Currently, TPAs are faced with the challenge of keeping track of the contract versions and are manually managing the contracting workflow. The relationship with ObjectOrb will allow PREMIA(TM) Health customers to automate these processes, eliminating the need for TPAs to keep track of changes and update the system manually.
"PREMIA(TM) Health has powerful provider relationship functions. eprovion(TM) will enhance PREMIA's capability for automating the provider contracting process, defining multiple tiers of providers and networks and enhance provider cost modeling," said Vivek Sethia, Vice President - Insurance, ICICI Infotech. "The seamless integration with eprovion(TM) will enable PREMIA(TM) Health users to directly load contracts and fee schedules into the system."
PREMIA(TM) Health is an innovative platform for health benefits administration that provides a superior ability for Payors and TPAs for defining new generation plans, contracts and multi-tier provider networks while streamlining core operations in medical, vision and dental plan administration. Administration tasks handled by the browser-based PREMIA(TM) Health include member services, claims adjudication, check writing and Brokers management.
"We believe integration with claims systems like PREMIA(TM) Health allows us to provide sophisticated cost modeling, and ensure the accurate loading of contracts. This will result in significant cost savings to healthcare organizations," said Anand V. Hudli, Product Director at ObjectOrb Technologies.
eprovion(TM) automates the provider contract lifecycle from the creation of contracting standards using clause libraries and templates, to workflows including review and approval, setting negotiation guidelines and tracking negotiations, and notifications of contractual activity.
ICICI Infotech brings next-generation solutions to the TPA market, which reduces the cost of operations and enhances service levels. The solution platforms, PREMIA and Xroadz, have been helping customers in more than 18 countries to streamline their insurance business.
About ICICI Infotech
ICICI Infotech (www.icici-infotech.com) is a leading provider of information technology products and services. It has a comprehensive set of solutions for the insurance, banking and financial services, manufacturing, retail, distribution, contracting sectors,. It is assessed at SEI-CMM Level 5 and is ISO 9001 certified for its Infrastructure Services and its BPO operation.
Building on extensive domain knowledge and continuous investment in leading edge technologies, ICICI Infotech helps corporations transform their businesses through its expertise in enterprise class products, software solutions, security consulting, IT infrastructure and disaster recovery solutions. Promoted by the US$25 billion NYSE-listed ICICI Bank, ICICI Infotech services customers in 30 countries and has presence across 4 continents.
Headquartered in Edison, New Jersey, ICICI Infotech Inc. is the US arm of ICICI Infotech Ltd. and has another office in Farmington, Connecticut.
About ObjectOrb
ObjectOrb Technologies (www.objectorb.com) is an IT services and products company based in Bangalore, India. ObjectOrb's product division caters to the needs of the US Managed Care Industry. Business in the healthcare vertical contributes nearly 90 percent of the company's revenues each year. ObjectOrb, an ISO 9001:2000 certified company, has extensive experience in working on multi-year, full life cycle product development in the healthcare vertical for customers in the US and Europe.
Founded by software professionals from the US, Switzerland, and India, ObjectOrb has been an offshore development partner for product companies in the US and Europe. ObjectOrb has a software development center in Bangalore, India, and marketing and sales partners in the US and Europe.
Disclaimer
Except for the historical information contained herein, statements in this release, which contain words or phrases such as 'will', 'would', etc., and similar expressions or variations of such expressions may constitute 'forward-looking statements'. These forward-looking statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those suggested by the forward-looking statements. These risks and uncertainties include, but are not limited to our ability to obtain statutory and regulatory approvals and to successfully implement our strategy, future levels of our growth and expansion in business, technological implementation, changes, advancements, and redundancies, the actual demand for software products and services, or the future potential or feasibility thereof, changes in revenue, income or cash flows, our market preferences and our exposure to market risks as well as other risks. ICICI Infotech undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date thereof.
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