LAKELAND, Fla. June 3 /PRNewswire/ -- Intelimedix, a business intelligence company focused on multi-relational data mining and advanced analytics for faster, more accurate decision-making, announced a strategic partnership with integrated loss control service provider TC3 Health, Inc.
The strategic partners will combine their core capabilities to offer public and private health plans a comprehensive medical cost-management solution that includes identification of preventable conditions and unnecessary treatment, clinical code editing, and fraud, waste, and abuse detection. Imbedded in the workflow is the disposition of improper transactions through pre-payment investigative and retrospective recovery services.
The integrated solution is powered by Intelimedix's market-leading data mining and analytics platform, which leverages proprietary deterministic algorithms to uncover inappropriate payments, known fraud schemes and treatment variations, as well as other cost-increasing events. Intelimedix's predictive modeling capability employs profiling and pattern recognition to detect such problems as provider fraud, member misuse and identity theft.
The integration of Intelimedix's analytics platform with TC3's proprietary fraud detection and code edit compliance engine will provide a complete pre-pay and post-pay cost control solution. By combining these complementary capabilities, Intelimedix and TC3 supply a powerful vehicle for identifying, investigating, preventing and recovering inappropriate payments, adding the practical means for companies to stop or reclaim incorrectly paid benefit dollars.
"When you couple TC3's frontline experience in pre-payment fraud, waste and abuse control with Intelimedix's detection technology and decision analytics, you get a cost containment solution that can respond as quickly as the schemes emerge," said Intelimedix President and CEO Joel Portice. "Our partnership delivers real substance to health plans with the capability to accurately identify new patterns and cost savings."
"Both new and existing customers of our respective companies will gain substantial value from this partnership," added TC3 President and CEO Doug Chisholm. "Together, we deliver a comprehensive, technology-driven solution that protects the healthcare payer's bottom line as it conserves policyholder benefit dollars."
Intelimedix (IMX) offers predictive healthcare analytics and business intelligence solutions to identify, capture and reduce financial and medical risk. IMX solutions provide actionable intelligence focused on: cost containment, employer group reporting, outsourced analytics, data aggregation, and pharmacy cost management. The company's customizable solutions can be implemented quickly with minimal programming. IMX is a privately held company that has strategic investment from a consortium of Blue Cross and Blue Shield licensees called BP Informatics, LLC. More information is available at www.intelimedix.com.
ABOUT TC3 Health:
TC3 Health, Inc. provides claims cost management solutions to health care payers on a pre and post payment basis through its integrated loss control platform. TC3's anti-fraud solution includes; rules-based fraud diagnostics; clinical code edit compliance and sophisticated duplicate detection technology; a robust suspect provider watch list; web-defense portal; and CaseTracker software to automate and manage SIU investigations and other fraud management functions. For more information on TC3 Health, Inc., go to www.tc3health.com.
SOURCE TC3 Health, Inc.