Amisys Synertech (ASI) Accomplishes Major Milestone in Multi-Year Strategic Plan; Acquisition of Offshore Indian Firm Marks Culmination of Two-Year Reinvestment Effort.ROCKVILLE, Md. -- -ASI announced today that it has achieved a major milestone in its multi-year strategic plan to reinvest in its key operations and establish a position of leadership in the healthcare payer market, acquiring iSpace Software Technologies, Ltd. (IST), a leading provider of healthcare 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 and technology services headquartered in Hyderabad, India. The acquisition marks the culmination of a two-year reinvestment initiative focused on process re-engineering, infrastructure improvements and state-of the-art technology investments that successfully position ASI ASI, n See Anxiety Sensitivity Index. to deliver the highest level of value at the most competitive price available in the payer market today. The IST acquisition is the latest piece in a multi-faceted strategy that has been executed by ASI to date, including: --Development of a business process automation tool set to provide increased efficiency of internal operations. --Significantly upgrading optical character recognition optical character recognition (OCR), method for the machine-reading of typeset, typed, and, in some cases, hand-printed letters, numbers, and symbols using optical sensing and a computer. (OCR OCR in full optical character recognition Scanning and comparison technique intended to identify printed text or numerical data. It avoids the need to retype already printed material for data entry. ) software in conjunction with improved data capture and validation capabilities. --Complete renovation of mailroom and scanning facilities to enhance workflow and allow for expanded capacity. --Improving the processing efficiencies of internal systems to increase claims first pass rates. "As part of our ongoing internal continuous improvement efforts, ASI has now completed a two-year effort to hone and sharpen our business to best address evolving industry needs," said Kevin R. Brown, ASI's President & CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "We have invested heavily in our infrastructure and reengineered key outsourcing operations, which combined with our offshore capabilities enables ASI to achieve new levels of price-competitiveness." Brown added, "ASI is not only now positioned to be more responsive to the dynamic needs of our customers, but also to aggressively market to payers of all sizes throughout the United States. IST's quality-focused global delivery center provides an ideal complement to our domestic operations to form a powerful onshore/offshore offering." With a superior domain expertise in the HMO HMO health maintenance organization. HMO n. A corporation that is financed by insurance premiums and has member physicians and professional staff who provide curative and preventive medicine within certain financial, , PPO PPO abbr. preferred provider organization PPO Managed care Preferred provider organization, see there Infectious disease Pleuropneumonia-like organism, see there , and TPA (Transient Program Area) See transient area. TPA - Transient Program Area businesses, IST is an ISO (1) See ISO speed. (2) (International Organization for Standardization, Geneva, Switzerland, www.iso.ch) An organization that sets international standards, founded in 1946. The U.S. member body is ANSI. 9001:2000 Certified company and the winner of the "2003 Best India 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 Company" Award. IST's global delivery center in Hyderabad deploys an array of proven healthcare business process outsourcing services with unsurpassed levels of quality, including enrollment processing, data capture and validation, claims adjudication The legal process of resolving a dispute. The formal giving or pronouncing of a judgment or decree in a court proceeding; also the judgment or decision given. The entry of a decree by a court in respect to the parties in a case. , subrogation The substitution of one person in the place of another with reference to a lawful claim, demand, or right, so that he or she who is substituted succeeds to the rights of the other in relation to the debt or claim, and its rights, remedies, or Securities. , underwriting triage, policy owner services, billing, call center services and software development expertise. Suresh Kothapalli, currently the CEO of IST, and Satyendra Prasad, currently the COO of IST, will join ASI as members of the executive management team. "We are extremely pleased to be part of ASI. We have a strong business synergy that will enable us to combine our capabilities, delivering the highest level of benefits to our clients and helping us meet the continually growing demand for cost-competitive BPO services," said Kothapalli. "We look forward to being part of an industry-leading global BPO services organization, and will continue to provide our current customers with the same level of high quality support they are accustomed to receiving." The acquisition also brings ASI 10 new customers and more than 400 additional employees. About Amisys Synertech Inc. (ASI) ASI (www.asihealth.com) advances health plan business through its industry-leading products and services. The company delivers comprehensive, mission-critical information management software products and Web capabilities that meet the needs of nearly every healthcare payer model. ASI also provides leading business process outsourcing and application hosting for health plans, supporting a multimillion-member base through its claims processing and consumer-directed services. ASI has offices in Rockville, Md., Harrisburg, Pa., Dubuque, Iowa and Alpharetta, Ga. About iSpace Software Technologies, Ltd (IST) iSpace Software Technologies Ltd. (www.iSpacesoftware.com) is a leading Healthcare BPO and Technology services company with a superior domain expertise in the HMO, PPO, and TPA businesses. IST is headquartered in Hyderabad, India and employs over 400 employees in its state-of-the-art delivery center. IST is an ISO 9001:2000 Certified company and the winner of the "2003 Best India BPO Company" Award. |
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