Concentra Preferred Systems Chooses CorVu's CorManage to Maximize Healthcare Cost Containment Services.Business Editors MINNEAPOLIS--(BUSINESS WIRE)--April 18, 2000 CorVu Corporation (Nasdaq OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CRVU), a leading provider of Enterprise e-Business Performance Management, Business Intelligence and Balanced Scorecard Balanced Scorecard A performance metric used in strategic management to identify and improve various internal functions and their resulting external outcomes. The balanced scorecard attempts to measure and provide feedback to organizations in order to assist in implementing solutions, announced today that Concentra Preferred Systems, the recognized leader in Healthcare 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, will implement CorVu's CorManage. As a cost containment organization, Concentra is well aware of the need to monitor and manage corporate performance. Concentra will roll out CorManage throughout the entire organization. CorManage will arm Concentra's 350 employees in service groups such as Hospital Bill Audit, Line Item Analysis, Out-Patient Repricing Repricing To change the price of an asset. In derivatives, it sometimes refers to the exchange of options of with different strike prices. repricing , Professional Negotiation Services, operational and administrative departments with the ability to better manage their business units and link their tactical activities to strategy. CorManage is being implemented in order to facilitate Concentra's corporate Balanced Scorecard. Concentra expects to reap many benefits from its performance management implementation, including reduced turn around time, improved client services, improved operational efficiencies and superior management of corporate goals. "CorVu's CorManage offered a complete Enterprise Business Performance Management solution with full decision support capabilities that other solutions lacked. In addition, CorVu's DynaMart technology will afford us the ability to provide web-based inquiries to our clients without adversely impacting the performance of our production systems," explained Bill Esposito, senior business and systems analyst, at Concentra. "And, since CorManage is certified by the creators of the Balanced Scorecard, the Balanced Scorecard Collaborative, we had extra assurance that we were choosing the right solution. This implementation will be key in the growth initiatives that are projected for the next three years." "We are very pleased that Concentra has chosen CorVu. We hope this will give them a competitive edge in an industry that consistently strives to improve services, while remaining efficient," commented Justin MacIntosh, 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. and president, CorVu Corporation. CorManage: the Certified Balanced Scorecard Solution CorManage combines robust business intelligence functionality with a comprehensive Balanced Scorecard. It includes Balanced Scorecard innovations, such as regression analysis In statistics, a mathematical method of modeling the relationships among three or more variables. It is used to predict the value of one variable given the values of the others. For example, a model might estimate sales based on age and gender. of scorecard results to statistically validate models of organizational strategy. Once a valid strategy has been formulated, users perform 'what-if' analysis to identify how performance improvements in one area of the organization impact another area's performance. This knowledge empowers managers to more effectively allocate valuable time and resources to those activities that are most strategic - those that have the most impact on the desired outcome. Certified by the Balanced Scorecard Collaborative ( http://www.bscol.com ), users may be assured CorManage meets the highest standards in Balanced Scorecard automation. About Concentra Concentra Preferred Systems (CPS) specializes in providing cost containment services on a national basis to the insurance industry. CPS provides managed care and out-of-network cost containment services to the health insurance industry, 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. and auto insurance companies. Their clients include commercial insurers, Blue Cross plans, HMO's, self-insured companies, third party administrators, Taft-Hartley Funds, and non-profit organizations. CPS services include an array of pre-payment and post-payment recovery services. Prepayment services include professional fee negotiation, inpatient and outpatient repricing services and PPO PPO abbr. preferred provider organization PPO Managed care Preferred provider organization, see there Infectious disease Pleuropneumonia-like organism, see there networks; post-payment services include on-site hospital bill auditing, DRG DRG, n the abbreviation for diagnosis-related group. DRG see dorsal respiratory group. DRG Diagnosis-related group Managed care A unit of classifying Pts by diagnosis, average length of hospital stay, and validation, contract compliance audit (inpatient, outpatient, home infusion, DME (Distributed Management Environment) A network monitoring and control protocol defined by the Open Software Foundation (now The Open Group). DME was not widely used. DME - Distributed Management Environment ), credit recovery services and special investigative review. About CorVu CorVu is a global provider of Enterprise e-Business Performance Management and Balanced Scorecard Solutions. CorVu's solutions have helped thousands of companies merge business vision, shrewd industry and competitive analysis, and the right measurements to enable effective execution of strategy. CorVu provides solutions designed to assist in efficiently allocating resources, strengthening competitive capabilities, installing strategy-supportive policies and managing core competencies to match market realities. By building accountability into every action and providing a consistent basis to react to real-time events, CorVu makes it easier to drive organizational change, achieve continuous improvement and exceed performance targets. More than 2500 customers, including companies such as American Express American Express (NYSE: AXP), sometimes known as "AmEx" or "Amex", is a diversified global financial services company, headquartered in New York City. The company is best known for its credit card, charge card and traveler's cheque businesses. , British Airways British Airways in full British Airways PLC International passenger airline based in London. In 1936 British Airways Ltd. was founded through the merger of three smaller airlines. , CNS See Continuous net settlement. CNS See continuous net settlement (CNS). , Mincom, Prudential, Transitions Optical, Ford Motor Company, Sara Lee, Star-Kist Foods and BF Goodrich have selected CorVu solutions. For more information, visit www.corvu.com or call 800/610-0769. All company and product names are trademarks of their respective owners. |
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