TriZetto Corporation today announced its acquisition of Franklin, Tenn.-based Healthcare Productivity Automation (HPA). HPA's healthcare workflow automation solutions will be integrated with TriZetto's business management services unit over the coming months. Terms of the transaction, which closed on Dec. 17, were not disclosed.
HPA solutions employ a highly advanced, cloud-based claims workflow tool, Health Mason®. The Health Mason solution automates certain manual processes in claims administration, which can greatly improve the efficiency and quality of the provider reimbursement process. The tool replicates human decision-making to review large volumes of claims, enter data and determine the best way to process claims. Processing can be up to 30 times faster than typical manual processes, with high reliability – more than 95 percent first-pass accuracy on a rolling 12-month average across HPA's book of business.
“The acquisition of HPA underscores TriZetto's continuing investment strategy to provide innovative, integrated technology and service solutions that simplify healthcare and improve both its efficiency and effectiveness for payers, providers and members,” said Harish Mysore, senior vice president of corporate development and strategic alliances at TriZetto. “This acquisition builds on our commitment to enhance payer-provider collaboration by increasing the quality, accuracy and efficiency of claims processing and payment.”
“We're excited to join TriZetto because its large payer and provider client base allows us to make a bigger impact on healthcare,” said Sal Novin, HPA's CEO. “In managing the claims administration function of dozens of health plans, TriZetto will leverage HPA's technology to bend the cost curve of processing claims and increase administrative efficiencies for both healthcare payers and providers.”
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TriZetto provides world-class information technology and service solutions that help payers and providers work more efficiently and collaborate to deliver better health. TriZetto solutions touch over half the U.S. insured population and reach more than 200,000 care providers. TriZetto helps healthcare organizations enhance administrative efficiency; improve the cost, quality and delivery of care; address compliance; and compete to win in an emerging retail market. Payer solutions include benefits administration, care management, network management and portal platforms, as well as consulting, application management and business management services. Provider solutions include real-time eligibility assurance, claims editing, revenue cycle management technology and services that help providers get paid quickly and accurately. For more information, visit www.trizetto.com.
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