I-trax Selected by MedCost to Forecast Future Health Costs
03 11월 2003 - 11:01PM
PR Newswire (US)
I-trax Selected by MedCost to Forecast Future Health Costs I-trax's
Predictive Models Provide the Critical First Step for a New
Generation of Corporate Healthcare PHILADELPHIA, Nov. 3
/PRNewswire-FirstCall/ -- I-trax, Inc. , a health management
solutions company, announced today that it has been selected by
MedCost, a leading medical management company and PPO, to forecast
future health costs for the 1.2 million individuals (covered lives)
whose healthcare is managed by MedCost LLC. I-trax will use its
proprietary prospective health models, which are powered by
BioSignia, to enable MedCost to expand their medical management
services by forecasting future medical costs and identifying
individual members so that appropriate life-style management and
care plans can be provided to them. Prospective health modeling is
a statistical tool used by employers, insurers and third-party
administrators to identify individuals in their population who are
current high-cost healthcare consumers with potentially avoidable
costs where enrollment in disease management initiatives will
reduce the costs associated with chronic diseases. In addition,
these models also target individuals who are future high-cost
consumers and at high risk for disease onset for enrollment in
primary prevention programs. This selection marks an expanded
relationship between the two companies, and is the first step in
providing a new generation of corporate healthcare to self-funded
employers. Under the terms of the agreement, I-trax will conduct
two types of prospective medical modeling: 1) aggregate prospective
health modeling, which will project costs for the next 5 years for
identified health conditions, such as diabetes, coronary artery
disease, congestive heart failure, chronic obstructive pulmonary
diseases, asthma and back pain; and 2) prospective modeling of
avoidable costs, which will identify individuals covered by MedCost
who would benefit from disease management, as well as predict each
individual's healthcare costs for the next 12 months. I-trax will
also determine the potential savings associated with the
implementation of its Health-e-Life(SM) Program, the company's
personalized health management solution. William Ketner, President
and Chief Executive Officer of MedCost, commented, "We conducted an
in-depth search for a company that had the capabilities to offer a
range of services that would efficiently provide relevant data to
employers and payers to manage spiraling healthcare costs. We
believe that the combined strength of I-trax and MedCost will
provide an innovative and effective solution for the corporate
healthcare marketplace." John R. Palumbo, Vice Chairman and
President of I-trax, added, "I-trax's ability to identify the
propensity for disease at the earliest possible point will be an
integral component to MedCost's offerings. This information,
combined with MedCost's medical management capabilities and
I-trax's Health-e-Life(SM) programs, will help MedCost enhance its
offerings for the payers and employers that constitute its customer
base." About MedCost MedCost, LLC is the largest independent
managed care organization in the Carolinas. Founded in 1983,
MedCost serves nearly 8,000 employers with state- of-the-market
medical management programs and a high quality, cost-effective PPO
network. MedCost currently partners with more than 100 claim
administrators to serve 1.2 million covered lives throughout North
and South Carolina. About I-trax I-trax enables a new generation of
disease management through its unique personalized health
management solutions, which reduce the cost of care while improving
the health of populations. I-trax provides the only integrated,
end-to-end health management solutions available today. Utilizing a
common data platform, the Medicive(R) Medical Enterprise Data
System, I-trax solutions enable true coordination of care through
the utilization of shared records by all caregivers. These
solutions have been tested and proven in real-world settings
including Walter Reed Army Healthcare System, Office of Attending
Physician, US Congress, the Pentagon, Aetna, MedCost, Alegent
Health, Presbyterian Health Plan, CalOptima and Los Angeles
County-USC Medical Center. I-trax is headquartered in Philadelphia,
Pennsylvania and maintains its Care Communications Center in Omaha,
Nebraska. More information is available at http://www.i-trax.com/.
This news release may contain "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act of
1995. Such statements are subject to risks and uncertainties, which
could cause actual results to differ materially from those
anticipated, including those risks detailed in I-trax's filings
with the Securities and Exchange Commission, and should be read in
light of these risks. Company Contact: Media Contact: Investor
Contact: Janice MacKenzie Linda Jasper Robert B. Prag, President
I-trax, Inc. Keatingpr The Del Mar Consulting (215) 557-7488 x109
(973) 966-1100 Group, Inc. (858) 794-9500 DATASOURCE: I-trax, Inc.
CONTACT: Company: Janice MacKenzie of I-trax, Inc., +1-215-557-7488
x109, ; Media Contact: Linda Jasper of Keatingpr, +1-973-966-1100,
, or Investor Contact: Robert B. Prag, President of The Del Mar
Consulting Group, Inc., +1-858-794-9500, , both for I-trax Web
site: http://www.i-trax.com/
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