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2004 2003200220012000 |
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Bloodhound, Inc. Reaches Major
Milestone Company Now Has Contracts With Clients Covering Over $1 Billion in Annual Paid Medical Claims Volume RESEARCH TRIANGLE PARK, NC (June 6, 2001) - Bloodhound, Inc., an application service provider focused on medical bill overpayment protection for insurers, TPAs, HMOs, IPAs and other at-risk medical payment organizations, today announced that contracts with users of its ClaimsGuard(SM) Overpayment Protection Service now exceed $1 billion in annual paid medical dollars processed for clients in its Group Health line of business. "This is an important landmark in the growth of our company and in our continuing success in the national marketplace," said Bill Chastain, Bloodhound's president and CEO. "In addition to the phenomenal momentum achieved by ClaimsGuard in the Group Health insurance industry over the last nine months, we are very pleased with the reception that our services are receiving in the Workers' Compensation arena. We have been discussing the benefits of ClaimsGuard with Workers' Compensation payors for only three months, and already have potential clients representing well over $1 billion in annual paid medical now in demonstration projects. This combined activity level speaks very clearly to our unique application of our technology and patent-pending specialty logic capabilities to these markets. We believe our ClaimsGuard service and technology is the first truly new and additional medical cost savings technology for the medical payor markets since the mid- 1980's." Bloodhound's ClaimsGuard Overpayment Protection Service helps medical bill payors achieve incremental savings after complete medical bill adjudication and repricing, but prior to explanation of benefits and payment disbursement. Bloodhound's actual historical incremental savings to date have ranged from 2%-10% of approved medical claims processed through ClaimsGuard. Because Bloodhound offers these services as an ASP, the company is able to provide clients with seamless access to software-based services and eliminate the complexities and costs of system installation and operation. "We look forward to continued success in the Group Health and Workers' Compensation markets,'' said Chastain. "And, we are confident that our combination of cutting edge technology and a highly skilled team of professionals will only serve to accelerate our pace in the coming months.'' About Bloodhound, Inc. Founded in 1997, Bloodhound, Inc. is an application service provider specializing in medical claims overpayment protection. Bloodhound's ClaimsGuard Overpayment Protection Service provides new and additive technology that safeguards insurers, HMOs, TPAs, and other at-risk medical payment organizations from medical bill and claims overpayment. ClaimsGuard identifies inexact duplicates and clinical coding complexities resulting from processing large volumes of data through traditional claims payment systems. Bloodhound is headquartered in Research Triangle Park, NC. Visit Bloodhound on the Internet at www.bloodhoundinc.com. ClaimsGuard is a Service Mark of Bloodhound, Inc. Contact: Steven Bridges Bloodhound, Inc. 919-991-1117 x127 Don Mundie Delta Capital Management LLC 901-755-0949 |
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