BOSTON, October 17, 2006 — ISO, through its subsidiary DxCG, Inc., has completed acquisition of the assets of Urix, a leading provider of cutting-edge healthcare analytics and employer reporting solutions. Terms were not disclosed.
Urix, based in Cheshire, Conn., has successfully developed comprehensive web-based business solutions that enable health insurers, national brokerage firms and large employers to derive strategies to improve the quality of health care while lowering the cost of delivery. Urix is a leading developer of web-based healthcare analytic solutions that are both scalable and cost-effective on a national level.
ISO entered the healthcare sector in 2004 with the purchase of Boston-based DxCG, a company widely recognized as a world leader in predictive modeling software solutions. ISO has integrated the Urix and DxCG assets and will conduct business under the Urix brand name. John J. Farrell, chief executive officer of Urix, will serve as president of the combined entity; Michael Coyne, current head of DxCG, will serve as chief operating officer.
Insurance Services Office, Inc. is a leading provider of products and services that help measure, manage and reduce risk. ISO provides data, analytics and decision-support solutions to professionals in many fields, including insurance, finance, real estate, health services, government and human resources. Clients use ISO's databases and services to classify and evaluate a variety of risks and detect potential fraud. In the United States and around the world, ISO's services help customers protect people, property and financial assets.
Urix, an ISO business, is a rapidly growing analytics and healthcare unit that offers clients insights into claims data to proactively manage their healthcare costs while improving the quality and effectiveness of care. Urix solutions cleanse, balance and normalize clients’ claims data from multiple sources and make it available through an easy-to-use, interactive analytics and reporting environment. Urix payor solutions enable carriers to provide their accounts with advanced reporting capabilities that can be typically implemented in three to four months. Urix solutions for self-insured employers provide true performance measurement statistics across health vendors.
DxCG, an ISO business, promotes fair and efficient health care by providing software solutions to more accurately plan, budget and evaluate healthcare management programs. DxCG has more than 300 clients in the United States and abroad. The company’s Diagnostic Cost Group (DCG) and RxGroups® predictive models are used to negotiate health-based payments, identify opportunities for disease management, profile physicians and evaluate managed care programs. Recognized by leading independent researchers as the most proven models available, DxCG’s methodologies are used by the federal government to set payment rates for the U.S. Medicare program.
Stephanie Martinovich (DxCG)