Fiserv Health and EDS Collaborate to Bring Administration Services to Health Care Payer Market
Fiserv Health and EDS Collaborate to Bring Administration Services to Health Care Payer Market
August 16, 2005
MetaVance® is the EDS health care payer solution designed to enable real-time operations and increase the flexibility and adaptability of a business to respond to market and consumer demands. Fiserv Health offers a continuum of capabilities across all lines of business, including enrollment and billing, claim processing, customer service, capitation, financials, EDI and advanced Web technologies. This highly tailored approach to defining appropriate solutions for Fiserv Health customers and improving performance against service-level targets complements MetaVance's advanced functionality, flexible business rules engine and comprehensive reporting capabilities.
"Fiserv Health will use this new solution to provide greater insights into business operations and immediately respond to changes, helping customers reach the highest levels of performance and service while improving costs," said Connie Schweyen, senior vice president, Fiserv Health Plan Management (FHPM). FHPM is a new Fiserv Health unit dedicated to pursuing the health plan outsourcing and administration business. "Working with EDS gives us a fully integrated technology solution to help customers better understand their business performance, improve quality and service levels, and positively impact their bottom lines."
With this agreement, EDS will manage the MetaVance application, provide Web and mainframe hosting and other supporting information technology (IT) services. EDS' investments in MetaVance have created a systems platform that Forrester Research recently rated as a leader in health care claims platforms for consumer directed health plans and health care claims platforms for medical management (The Forrester Wave: Healthcare Claims Platform, Q1 2005, Forrester Research, Inc., March 2005). Provided in a hosted environment, MetaVance is available to users under a per-member-per-month (PMPM) model, underscored by the unparalleled IT infrastructure of EDS. Customers of Fiserv Health Plan Management will have access to a full range of services without having to build and maintain an infrastructure in-house.
"Using MetaVance in a 24-by-7 hosted environment enables small, medium and large health care payers to take advantage of a robust claims processing system in a highly flexible and cost-effective environment. Additionally, health plans that are aiming to increase membership want more functionality to support new health care models like consumer directed plans," said Mark Roman, EDS Global Healthcare Leader. "We believe that our collaborative agreement with Fiserv Health will provide an excellent way for customers to take advantage of the features of MetaVance and expect the relationship to provide substantial hosting revenues to EDS over its multi-year term."
Fiserv Health Plan Management offers a full complement of proven health plan management, administration and consultation services to help mid-sized health plans and health care payer organizations lower costs, ease workloads and help meet the growing needs of their members.
Fiserv Health provides a full array of independent health plan management, claims processing and administration services for managed care and self-funded medical, dental, vision and disability plans. Fiserv Health has five national brands for health plan administration -- Benefit Planners, Benesight, Fiserv Health Kansas, Harrington Benefits Services and Wausau Benefits. These units offer health plan management, pharmacy benefits management and BPO services to the managed care market and self-funded commercial and government employers and health plans. The Fiserv Health group also includes Innoviant, a pharmacy benefits administrator; Innoviant Pharmacy, a pharmacy services provider; and Avidyn Health, a care management company. Find out more at www.firservhealth.com.
Fiserv, Inc. (NASDAQ:FISV) provides information management systems and services to the financial and health benefits industry, including transaction processing, outsourcing, business process outsourcing and software and systems solutions. The company serves more than 16,000 clients worldwide, including banks, credit unions, financial planners/investment advisers, insurance companies and agents, self-funded employers, lenders and savings institutions. Headquartered in Brookfield, Wis., Fiserv reported $3.4 billion in processing and services revenues for 2004. Fiserv was ranked the largest provider of information technology services industry in the 2004 FinTech 100 survey by the American Banker newspaper and the Financial Insights research firm. Fiserv can be found on the Internet at www.Fiserv.com.
EDS (NYSE:EDS) is a leading global technology services company delivering business solutions to its clients. EDS founded the information technology outsourcing industry more than 40 years ago. Today, EDS delivers a broad portfolio of information technology and business process outsourcing services to clients in the manufacturing, financial services, health care, communications, energy, transportation, and consumer and retail industries and to governments around the world. With $20.7 billion in 2004 revenue, EDS is ranked 95th on the Fortune 500. Learn more at eds.com.
The statements in this news release that are not historical statements, including statements regarding the amount of new contract values, are forward-looking statements within the meaning of the federal securities laws. These statements are subject to numerous risks and uncertainties, many of which are beyond EDS' control, which could cause actual results to differ materially from such statements. For information concerning these risks and uncertainties, see EDS' most recent Form 10-K. EDS disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.