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MedRisk Acquires Physical Medicine Business from APS HealthcareKING OF PRUSSIA, Pa. (April 3, 2006) – MedRisk, Inc. has purchased the physical medicine review business from APS Healthcare. MedRisk, a URAC-accredited and HIPAA compliant claims services and medical management company, plans to incorporate the APS guidelines-driven certification and utilization management review services into its own CERTExpert® Service. The acquisition includes APS’ Phoenix-based physical medicine personnel and clients, including the State Compensation Fund of Arizona (“SCF Arizona”) and several group health insurance clients. Also included in MedRisk’s purchase are proprietary physical medicine review guidelines, technology systems and processes in addition to validated clinical data on the appropriate treatment of musculoskeletal injuries from more than 15 years of physical medicine reviews. MedRisk also gained a proprietary early intervention system and process that identifies high-risk, potentially expensive cases early in the claims process. “This purchase positions MedRisk to more rapidly expand our pre-certification and utilization review business and strengthen our CERTExpert product,” said Shelley Boyce, CEO of MedRisk. CERTExpert delivers prospective, concurrent and retrospective review of physical medicine services for workers’ compensation claims. MedRisk plans to expand these services within the workers’ compensation industry as well as to enter the group health market. The sale closed on March 31 and no financial details were disclosed. MedRisk is beginning the process to integrate the companies’ systems. All former APS physical medicine employees will continue to work in the Phoenix location as MedRisk employees. About APS Healthcare.APS Healthcare, headquartered in Silver Spring, Md., is a leading provider of specialty healthcare solutions that cover more than 20 million members in the United States and Puerto Rico. APS offers customized, integrated healthcare solutions across three major healthcare product lines – health management services, behavioral health services, and quality improvement programs. APS operates under the belief that managing healthcare for the mind and body improves overall health and reduces total healthcare spending. For more information on APS, visit www.apshealthcare.com. About MedRiskFounded in 1994 and based in King of Prussia, Pa., MedRisk, Inc. provides specialty managed care services along with claims workflow management tools to the workers’ compensation industry. With a demonstrated core competency in physical medicine management, MedRisk has leveraged its technological expertise and evidence-based research to provide a growing list of products and services to its client community including document management, best-practice claim-workflow automation, specialty network services, network integration and data analytics. MedRisk’s programs deliver savings and operational efficiencies that are significantly greater than traditional programs. Customers include insurance carriers, self-insured employers, third-party administrators and general managed care workers’ compensation companies. More information is available at www.medrisknet.com or by calling 1-800-225-9675 Media Contacts: | |
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