AmeriHealth Casualty Improves Bottom Line with Fiserv Solution.Hub for billing and claim data provides immediate cost savings while enhancing workers' comp processing BROOKFIELD, Wis. -- Fiserv, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : FISV FISV Fiserv, Inc (stock symbol) ), a leading provider of technology solutions, today announced that AmeriHealth Casualty Services, an extension of CompServices, Inc., has reduced its workers' compensation workers' compensation, payment by employers for some part of the cost of injuries, or in some cases of occupational diseases, received by employees in the course of their work. pharmacy costs by increasing its claim processing integration using a Fiserv solution that includes the Workers' Compensation Management System, P2P See peer-to-peer and point-to-point. Link and DirectCompRx. This integration, designed by Fiserv, allows information on workers' compensation claims to move more fluidly between the Fiserv workers' compensation administration and claims management system (WCMS WCMS Web Content Management System WCMS Web Course Management System (similar to Virtual Learning Environment) WCMS Woodford County Middle School (Versailles, KY) WCMS Wideband Configuration Management System ) and DirectCompRx via the P2P Link transaction hub, all Fiserv products and solutions. "Our key objectives were to reduce overhead by implementing electronic billing Electronic billing is the electronic delivery and presentation of financial statements, bills, invoices, and related information sent by a company to its customers. Electronic billing is also referred to as the following:
penetration - the act of entering into or through something; "the penetration of upper management by women" and substantial savings in pharmacy charges." "As we continued to define opportunities to provide our clients additional value, we found that linking WCMS via P2P Link with DirectCompRx would provide substantial benefits in a short period of time. With AmeriHealth seeking greater efficiencies, this was a perfect opportunity for us both," said Terry Wade, executive vice president, Fiserv Insurance Group. As a project across multiple business units, the collective team designed the integration for these three products. "Working together, the solution was implemented quickly and efficiently, allowing AmeriHealth to immediately process pharmacy payments directly for reduced fees via DirectCompRx," Wade continued. DirectCompRx provides pharmacy cost management solutions through a directly contracted network of more than 40,000 retail locations that significantly increases the speed, efficiency and accuracy of the process resulting in lower cost to all stakeholders. P2P Link provides electronic connectivity between claims payers and medical providers. "We are providing a solution that addresses our clients' need for a ROI (Return On Investment) The monetary benefits derived from having spent money on developing or revising a system. In the IT world, there are more ways to compute ROI than Carter has liver pills (and for those of you who never heard of that expression, it means a lot). in a very short period of time," confirmed Joe Hensley, president, Fiserv Workers' Compensation division. "Combining the strength of proven products to create unique integrated solutions that provide substantial business gains for our clients is the cornerstone of Fiserv 2.0." Last fall Fiserv announced Fiserv 2.0, a new integrated strategy of working with clients to have a single point of contact and to help them achieve best-in-class results by listening to their concerns and working together on solutions. This solution is an example of Fiserv helping one client improve its operational processes and bottom line results through integration of multiple Fiserv products and solutions. About AmeriHealth Casualty Services AmeriHealth Casualty Services offers workers' compensation insurance and services to businesses located primarily in Pennsylvania, New Jersey, and Delaware. The company was established in 1996 as an extension of CompServices, Inc., one of the region's premier workers' compensation claims administrators and offers workers' compensation insurance combined with high-quality claims management and cost containment cost containment, n the features of a dental benefits program or of the administration of the program designed to reduce or eliminate certain charges to the plan. services. About Fiserv Insurance Hundreds of Life, P&C, Health, and Reinsurance The contract made between an insurance company and a third party to protect the insurance company from losses. The contract provides for the third party to pay for the loss sustained by the insurance company when the company makes a payment on the original contract. carriers, managing general agents, and administrators rely on Fiserv for innovative insurance technology, professional services, and outsourcing solutions. Fiserv solutions include insurance policy and claims administration, underwriting, rating, advanced billing and collections, point-of-sale technology and straight-through processing straight-through processing The direct exchange of cash and securities. Straight-through processing is a major objective for cross-border transactions that are generally much more costly to settle compared to domestic transactions. solutions. In addition, more than 3,000 clients use the company's market-leading financial and compliance solutions. Fiserv can be found on the Internet at www.fiservinsurance.com. About Fiserv Fiserv, Inc. (NASDAQ:FISV), a Fortune 500 company, provides information management systems and services to the financial and insurance industries. Leading services include transaction processing, outsourcing, business process outsourcing Business process outsourcing (BPO) is the contracting of a specific business task, such as payroll, to a third-party service provider. Usually, BPO is implemented as a cost-saving measure for tasks that a company requires but does not depend upon to maintain its position in (BPO BPO Business Process Outsourcing BPO Benevolent & Protective Order (of Elks of the USA) BPO Benzoyl Peroxide BPO Business Process Optimization BPO Broker Price Opinions BPO Buffalo Philharmonic Orchestra ), software and systems solutions. The company serves more than 18,000 clients worldwide and is the leading provider of core processing solutions for U.S. banks, credit unions and thrifts. Fiserv was ranked the largest provider of information technology services to the financial services industry worldwide in the 2004, 2005 and 2006 FinTech 100 surveys. Headquartered in Brookfield, Wis., Fiserv reported more than $4.4 billion in total revenue for 2006. For more information, please visit www.fiserv.com. (FISV-G) |
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