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ISO Acquires HealthCare Insight, Leading Provider of Fraud Prevention and Cost Containment Services for Healthcare
ISO announced that it has acquired HealthCare Insight(R), LLC a Salt Lake City-based company whose solutions facilitate healthcare claims payers to prevent fraud, abuse, and overpayment. The acquisition further advances ISO’s position as a leading provider of data, analytics, and decision-support solutions in the healthcare industry. Terms were not disclosed.
HealthCare Insight unites automated modeling and profiling of claims with the improved exactness available through clinical validation. Before reporting actionable results to clients, all suspect claims and billing patterns identified by HCI’s software are assessed by registered nurses, physicians, dentists, and other clinicians skilled in coding and reimbursement decisions. This exclusive combination of human and system review creates a service unlike any other in the industry and provides clients with unsurpassed claims payment accuracy.
Barry Johnson, HealthCare Insight’s president said, “We are extremely pleased to be joining the ISO family of companies. This combination provides us an excellent opportunity to develop new and enhanced products, expand our customer base, and establish new markets.”
“The acquisition of HCI further supports our objective to establish ISO as the leading provider of data, analytics, and decision-support solutions for healthcare claim payers,” said Frank J. Coyne, ISO’s chairperson, president, and chief executive officer. “HCI provides payers with a comprehensive suite of healthcare cost containment solutions that are both effective and accurate. These solutions, coupled with those offered by our Urix business unit, represent a powerful offering in the market.” ISO’s Urix business unit merges the Urix business intelligence platform with DxCG’s predictive science.
Coyne continued, “ISO has firmly established leadership positions as a provider of fraud detection services in two of the key markets we serve — property/casualty insurance and mortgage lending. HCI will now provide ISO with significant fraud and abuse detection capabilities in our other key market — healthcare.”
HealthCare Insight will operate from its present Sandy, Utah, headquarters and will continue to be led by Barry Johnson. Johnson stressed that the transition to ISO ownership would be seamless to existing customers.