Lockton Companies Adopts PSIMedica Health & Productivity Analytics Technology.Business Editors KANSAS CITY Kansas City, two adjacent cities of the same name, one (1990 pop. 149,767), seat of Wyandotte co., NE Kansas (inc. 1859), the other (1990 pop. 435,146), Clay, Jackson, and Platte counties, NW Mo. (inc. 1850). , Mo. & WASHINGTON--(BUSINESS WIRE)--June 2, 2004 Lockton Companies, the largest privately-held insurance consulting and brokerage firm in the U.S., and PSIMedica, a provider of health & productivity analytic software, today announced a strategic contract where Lockton will utilize PSIMedica's technology to support its national employee benefits consulting practice. InfoLock, powered by PSIMedica's Clinical Knowledge Manager (CKM CKM Cabibbo-Kobayashi-Maskawa (quark mixing matrix) CKM Certified Knowledge Manager (trademark of Hudson Associates Consulting, Inc. ) software solution, supports decision making to control the costs and improve the quality of healthcare and other employee benefits purchased by employers. "Claims analytics is a key component of the strategic services we provide our clients", said Mike Brewer
Mike Brewer , Lockton Benefit Group President. "InfoLock's disease management, cost modeling, financial analysis and overall flexibility will enable us to help our clients identify and manage claims costs at a level that was previously unattainable". InfoLock is a web based Coming from a Web server. See Web application. application that integrates all available cost and quality information on employee benefit experience from sources including health carriers, pharmacy, disability, workers compensation, laboratory, dental laboratory, dental, n the area of the dental office where the dental professional performs nonpatient procedures. , and absence data. The value to Lockton's clients is control of the critical information upon which major benefits procurement and spending decisions are based. "Healthcare is one of the most data-driven industries in the world, making sophisticated informatics a high-return, high-impact investment. Today's environment demands a comprehensive, flexible data warehouse and analytical engine A programmable calculator designed by British scientist Charles Babbage. After his Difference Engine failed its test in 1833, Babbage started the design of the Analytical Engine in 1834. to ensure the maintenance of affordable benefits by the employer," said Nelson Rosenbaum Ph.D., President and Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. , PSIMedica. "Using CKM, Lockton's InfoLock platform can help its clients make faster and better business decisions on key health and productivity issues." About Lockton Companies Lockton Companies, headquartered in Kansas City, MO, was founded in 1966, and since then, Lockton locations have multiplied from a single office in Kansas City to 12 offices located across the U.S.; the firm now has offices in Kansas City, Los Angeles, Dallas, St. Louis, Denver, Chicago, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , Atlanta, Hartford, San Diego, San Francisco and Houston. Lockton Companies is now the largest privately held insurance brokerage firm in the United States. Since 1980, Lockton's staff has grown in number from 20 to more than 1,600. The firm has increased its revenues from $2 million in 1980 to more than $300 million today; and annual premium placements have grown to several billion dollars. About PSIMedica PSIMedica, headquartered in Washington, DC, is the health informatics division of Bio-Reference Laboratories, Inc., the largest regional clinical laboratory in the Northeast U.S. Bio-Reference Labs is a publicly traded corporation (BRLI-NASDAQ). PSIMedica was formed to exploit the full potential of integrating medical and pharmacy claims data with laboratory and radiology data to advance knowledge management in healthcare. PSIMedica's current applications, among others, include health plan benefit design modeling, FASB FASB See: Financial Accounting Standards Board FASB See Financial Accounting Standards Board (FASB). 106 retiree reserves valuation, support for health and productivity initiatives such as disease management and provider pay for performance, and employee healthcare report cards. |
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