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HBO & COMPANY/HAS FINALIZE JOINT VENTURE

 HBO & COMPANY/HAS FINALIZE JOINT VENTURE
 ATLANTA, Oct. 27 /PRNewswire/ -- HBO & Company (NASDAQ: HBOC), a


leading provider of healthcare information systems and services, and Healthcare Affiliated Services Inc. (HAS), a wholly owned subsidiary of Blue Cross of Western Pennsylvania (BCWP), have announced the formation of a new joint venture to be headed by Cyrus J. Keefer Jr.
 Formerly chairman and chief executive officer of RK Medifund, Inc., Keefer brings more than 20 years experience in financial services to his leadership position in the joint venture.
 The joint venture organization will assume responsibility for providing shared financial system services to HAS' present customers. The agreement creates sales and marketing opportunities for HBO products and services within BCWP's service area of more than 100 hospitals. HBO's outsourcing services, such as remote computing operations and central business office operations, could be particularly attractive to the hospitals.
 The joint venture plans to introduce to the healthcare marketplace a new service, Guaranteed Financial Services (GFS), which will create a link from providers to payors for expedited claims processing and prefunding of claims. These services will combine existing HBO and HAS products with new partners to address the pressing cash management needs of healthcare providers.
 "The HBO/HAS joint venture not only addresses hospitals' needs for improved financial and cash management services, but also responds to the national priority of reducing the cost of healthcare through automation," said Charles McCall, HBO president and CEO.
 Stewart B. Gold, HAS president, said, "The joint venture combines a large national healthcare information system company and a progressive healthcare organization to create innovative services for healthcare providers."
 HBO & Company delivers a wide range of patient care, clinical and financial products, as well as networking technologies, outsourcing and other services to healthcare organizations in the United States, United Kingdom, Canada, Australia and New Zealand.
 -0- 10/27/92
 /CONTACT: Jeanne Bateman of HBO & Company Investor Relations, 404-393-6577/
 (HBOC) CO: HBO & Company; Healthcare Affiliated Services Inc.; Blue Cross of
 Western Pennsylvania ST: Georgia IN: HEA SU: JVN


EA-BR -- AT010 -- 5282 10/27/92 10:16 EST
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Copyright 1992 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Oct 27, 1992
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