BOSTON, February 25, 2008 — Urix, Inc., an ISO business and a leading provider of health care predictive modeling and business intelligence software, announced the acquisition of Predicted Solutions, a Woolwich, Maine-based company that offers software and consulting services to detect and recover losses due to health care fraud waste and abuse. Predicted Solutions will function as a business unit of Urix and will be led by Crystal Stultz, who will be joining Urix as Director, Program Integrity.
Terms were not disclosed.
As part of the acquisition, Predicted Solutions and Urix announce the availability of the first jointly-developed solution Pharmacy Audit ServiceSM (PAS).The Pharmacy Audit Service combines Urix technology, DxCG science and Predictive Solutions expertise to help health plans validate or detect fraudulent or abusive spending practices that could result in lost expenditures.
“Predicted Solutions has successfully developed proprietary tools and techniques around heath care fraud and abuse, which helps prevent and recover substantial financial loss for commercial, state and federal Medicaid and Medicare programs,” said Mike Coyne, chief operating officer of Urix. “With our new jointly developed Pharmacy Audit Services, customers can safeguard their prescription drug program with powerful analytics that identify claims that contribute to costly overpayments,” added Coyne.
“By joining Urix, we hope to support the detection of fraud, waste and abuse for more health care payers, and provide more innovative solutions that will improve program integrity initiatives,” said Crystal Stultz, co-founder and Director of Program Integrity at Predicted Solutions. “We look forward to leveraging the Urix technologies and collaborating with the members of Urix’s DxCG science division to continue to bring the best solutions to market.”
Both Coyne and Stultz emphasized that the transaction will not result in any disruption for Predicted Solutions’ current customers.
About Predicted Solutions
Drawing from administrative data routinely collected in pharmacy and medical claims, Predicted Solutions validates claims data for government sponsored Medicare and Medicaid programs and commercial health plans to efficiently ensure program integrity. The methodology combines technology with forensic science, analytics, and industry expertise to detect fraudulent and abusive billing activities. Predicted Solutions has led fraud, waste and abuse initiatives that have resulted in the recovery of millions of dollars for government and private health plans around the U.S.
About Urix®, Inc.
Urix, an ISO business, is a leading independent health care analytics company that offers a portfolio of products to help clients gain insight into their medical data. Urix technology streamlines clients’ data from multiple sources and displays results in a user-friendly, web-based interactive analytics and reporting environment. Urix solutions enable clients to proactively manage their health care costs and risk while improving the quality and effectiveness of care. Health care organizations use Urix’s advanced reporting capabilities for rapid decision-support across many health care business areas. Urix is Where Intelligent Decision Making Begins™.