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Former Sears executive Douglas E. Klinger will take the helm as CEO of the newly combined company formed by the merger of Premier Healthcare Exchange Inc., Stratose L.L.C., GlobalCare and Pay-Plus Solutions Inc., the combined organization announced Wednesday.
Mr. Klinger, who is based in Bedminster, New Jersey, previously was president of Health and Wellness Solutions, a unit of Hoffman Estates, Illinois-based Sears Holdings Corp.
The four claims cost and health care value management firms merged in January, according to the statement.
Together they provide “network management, claims integrity, payment remittance solutions and analytical services for medical, dental and workers compensation claims to over 500 payer clients” and deliver “electronic payments and explanation of payments to over 180,000 health care providers,” according to the statement.
The combined organization does not yet have a name, a company spokesman said. He said the company hopes to release its new name and brand in the second quarter of this year and operations will continue in all current locations, the spokesman added.
Premier Healthcare Exchange is based in Bedminster; Stratose in Atlanta; GlobalCare in Alpharetta, Georgia; and Pay-Plus Solutions in Clearwater, Florida.
“Our newly-formed company is well-positioned to be the industry leader in health care value management with market-leading positions in network management, claims integrity and payment remittance solutions for health care payers” Mr. Klinger said in the statement. “I look forward to supporting our expert teams with delivering consistently superior quality and value to payers, providers and patients while helping to improve the efficiency and effectiveness of our country's health care system.”
London-based insurer Legal & General Group P.L.C. CEO Nigel Wilson has said that 80% of up to £5 billion ($7 million) spent by the country's insurance industry on Solvency II has been a waste, reported The Independent.