Printer Friendly

GMIS CHIEF NAMED REGIONAL ENTREPRENEUR OF THE YEAR -- ON TO NATIONAL COMPETITION

 GMIS CHIEF NAMED REGIONAL ENTREPRENEUR OF THE YEAR --
 ON TO NATIONAL COMPETITION
 PHILADELPHIA, June 26 /PRNewswire/ -- Thomas Owens, president and chief executive officer of Malvern-based GMIS, leading marketer of cost containment solutions for the insurance industry, was named Delaware Valley High Technology Entrepreneur of the Year today by Inc. magazine, Ernst & Young and Merrill Lynch, sponsors of the event.
 Award recipients were selected by an independent judging panel. The announcements were made at an awards ceremony and banquet held at Hotel Atop The Bellevue. Regional winners will be reviewed this fall by a separate national panel who will determine the national Entrepreneur of Year. The winner will be featured as the cover story in Inc.'s December issue.
 "If there's a common trait among the entries, it's their ability for creative thinking," said Warren "Pete" Musser, one of this year's judges. He continued, "Entrepreneurs you can't control because they are independent animals. Most of the great things that happen are made to happen by those kinds of people."
 In presenting the award to Owens, Stephen J. Negrotti, director, Entrepreneurial Services, Ernst & Young, said, "We received quite a number of nominations from across the Delaware Valley. After careful and thoughtful evaluation, it became clear that Tom Owens had to be our choice for High-Tech Entrepreneur of the Year."
 Owens joined GMIS as vice president of marketing and sales in 1987. He developed the strategic plan for the company, focusing it on health care cost containment technologies. Under his leadership, GMIS realized a 45 percent increase in operating revenues in 1991, following a 50 percent increase in 1990. In July of last year, GMIS went public. Its stock is traded on the NADAQ National Market System.
 His career has always been focused on health care, with a particular emphasis on programs designed to contain health costs while maintaining the quality of care. Extensive involvement in the development of Diagnosis Related Groups (DRG's) ultimately led to his becoming vice president of marketing for Health Systems International.
 In that position, Owens' marketing strategies helped lead HSI from a start-up to revenues in excess of $7 million in a four year period, before the company became a part of 3M Health Systems.
 Commenting on his selection as this year's regional Health Care Entrepreneur of the Year, Owens said, "I am very proud to be recognized for such an important award. It's something that I would like to share with all the talented people at GMIS. I don't see this as my award. Rather, I see it as our award."
 Looking to the future, Owens was quick to add that, "GMIS is well positioned to be a major influence in helping our country gain control of health care costs." He continued, "We are currently marketing two new products, Provider Insight(TM) and MAPS(TM) (Medical Appropriateness System). Both products are designed to work with GMIS' present products, ClaimCheck and Autocoder, two industry standards, to produce a "master profile" of utilization efficiency, billing practices and to improve the quality of medical care and performance."
 Concluding, Owens stated, "We will also be adding software to address Workers' Compensation and Dental Claims Utilization. They should be available later this year. We believe all of these products will offer a comprehensive and efficient solution to controlling health care costs that the health insurance industry has wanted for a long time, but just didn't have, until now."
 "The quality of the finalists has increased each year without fail and this year is no exception," observed Walter D'Alessio, president and chief executive officer of Latimer and Buck and panel judge. He concluded, "We are getting, if anything, a higher quality and better cross section of finalists ... it's a testimony to the true heartiness of the entrepreneur that they rise to the top."
 Owens holds a bachelor of arts degree from Holy Cross and a master's of health administration from Yale University. He is currently a resident of Malvern.
 /delval/
 -0- 6/26/92
 /CONTACT: Jeffrey Stello of GMIS, 215-296-3838, ext. 1101/ CO: GMIS ST: Pennsylvania IN: INS SU: PER


CC-JS -- PH017 -- 4300 06/26/92 15:12 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jun 26, 1992
Words:686
Previous Article:DOMINGUEZ SERVICES CORP. DECLARES DIVIDEND
Next Article:FRETTER NOTES UNUSUALLY HIGH VOLUME OF STOCK BEING TRADED
Topics:


Related Articles
GMIS AND AMERICAN INTERNATIONAL HEALTHCARE INK SOFTWARE AGREEMENT; INCREASED DISTRIBUTION, PROFITS PREDICTED
STRONG PRODUCT DEMAND BOOSTS GMIS SECOND QUARTER EARNINGS
GMIS DECLARES 3-FOR-2 STOCK SPLIT
GMIS STOCK PURCHASE BY COMPANY EXECUTIVES ANNOUNCED
THOMAS R. OWENS ELECTED CHAIRMAN, GMIS BOARD OF DIRECTORS; EUGENE L. STEP JOINS GMIS BOARD
GMIS REPORTS STRONG REVENUE AND EARNINGS GROWTH FOR FIRST QUARTER
GMIS REPORTS SHORTFALL IN REVENUE AND A NET LOSS FOR THE SECOND OUARTER
HBO & Company Signs Definitive Agreement to Acquire GMIS Inc.
GMIS Software Selected for Medicare Program
Jim Reid.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters