Added Functionality, Productivity & Scalability
Help MCOs Keep Pace with Industry Change
NEW YORK, Oct. 8 /PRNewswire/ -- IMS HEALTH (NYSE: RX) today announced
that its Erisco Managed Care Technologies Unit, a leading provider of
software-based business solutions for managed care organizations, has released
Facets(TM) 2.7, the latest version of its client/server information system.
Through more than 150 different product enhancements, Erisco Managed Care
Technologies continues to broaden the application functionality, productivity
and scalability of Facets to meet both market and customer demands in the
complex, ever-changing managed care business environment. IMS HEALTH is the
world's leading provider of information solutions to the pharmaceutical and
healthcare industries.
Among the highlights found in Facets 2.7 are major enhancements in key
functional areas such as Claims Processing, Capitation/Risk Fund Management
and Electronic Commerce-EDI. A new application has been developed in Claims
Processing, giving customers the ability to release large volumes of claims
that have been pending for any number of reasons. The new function enables
these claims to be released automatically through a batch process without
having to individually recall and reprocess each claim manually. This, along
with streamlined claims processing enhancements, will provide significant
claims productivity improvements for all users.
"We are committed to making product enhancements that will enable our
customers to respond to change and keep pace with the business environment in
which they operate," said James Donnelly, assistant vice president of
marketing and product strategy at Erisco Managed Care Technologies. "Facets
is by far the industry's most production-proven, scalable client/server
solution today. The product enhancements made in the 2.7 release continue to
provide expanded features and exploit the open architecture, flexibility and
interoperability of Facets to best meet the needs of the marketplace."
Facets 2.7 also includes a sophisticated processing tool to manage risk
sharing arrangements in a capitated environment. The new funding model in the
Capitation/Risk Fund Management System was introduced to allow for better
tracking and greater efficiency in monitoring risk funds. On-line inquiries
and reports provide fund managers with up-to-the-minute budget information on
all funds.
In addition, Facets' Electronic Commerce System has been expanded to
include provider channeling, allowing for a user-friendly tool for web-based
access to network provider information based on member eligibility. ANSI-
based EDI transactions also have been expanded in Facets 2.7, helping managed
care organizations move closer to HIPAA compliance and to meeting electronic
transaction standardization by the end of the year 2000. This expansion
includes accommodating the ANSI X12 834 benefit enrollment and maintenance
transactions that will allow Facets customers to receive eligibility and
enrollment information for covered members and electronically create or update
subscriber and member information in Facets.
Founded in 1968, Erisco Managed Care Technologies is a leading provider of
software-based business solutions and services for managed care organizations.
Its innovative information technology solutions serve HMOs, PPOs, Blue Cross
Blue Shield organizations and managed indemnity organizations, and currently
manage the administration of over 35 million lives worldwide.
Erisco Managed Care Technologies is a unit of IMS HEALTH, the world's
leading provider of information solutions to the pharmaceutical and healthcare
industries. With more than $1 billion in 1997 revenue, IMS HEALTH operates in
over 90 countries. IMS HEALTH is the largest pharmaceutical manufacturer
information partner, with over 40 years' experience in the industry. Key
products and services integral to customer day-to-day operations include:
market research for prescription and over-the-counter pharmaceutical products;
sales management information to optimize sales force productivity; technology
enabled selling solutions for sales and marketing decision-making; and
technology systems and information services that support managed care
organizations.
Additional Erisco Managed Care Technologies product information can be
obtained from the Erisco Web Site at http://www.erisco.imshealth.com.
Additional information and previous press releases are available at IMS
HEALTH's Web Site at http://www.imshealth.com.
SOURCE IMS HEALTH
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Related links:
http://www.imshealth.com
Company News On-Call:
http://www.prnewswire.com/comp/115785.html or fax,
800-758-5804, ext. 115785
CONTACT:
AnnMarie Kemp, 860-659-0514, or Laura Gibbs,
860-659-0514, both for IMS HEALTH
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