ACTEK and AVOLENT to work with FCG as charter partners to offer their solutions through FirstPortfolio(TM)
LONG BEACH, Calif--(BUSINESS WIRE)--Oct. 17, 2007 - FCG (NASDAQ:FCGI) today announced the introduction of FirstPortfolio(TM), a new offering that allows health plans to add market-leading, third-party software tools in less time and at a lower cost than what is normally required to complete traditional selections and implementations.
FirstPortfolio is a customizable collection of market-leading applications that will be hosted and maintained by FCG for its health plan and other payer clients. FirstPortfolio's flexible pricing will be based on utilization (e.g. per member, per month) and is designed to substantially reduce financial risk and the capital required to implement new functionality.
As part of the offering, FCG will assist health plans in identifying the applications within FirstPortfolio that best fit their business needs, reducing the time and expense associated with the selection process. Additionally, health plan managers will benefit from a single contract that includes pre-negotiated prices for applications that are available through FirstPortfolio and FCG's data center management services.
"Health plans of every size face concerns over the cost of staying current," said Scot McConkey, President of Health Plan Services for First Consulting Group. "FirstPortfolio's variable pricing structure coupled with FCG's implementation and data center expertise provides payers with a cost-effective, low-risk way to deliver new services to their stakeholders and keep pace with market demand."
The first two applications within the FirstPortfolio offering are ACTEK's ACom3 Commission and Incentive Compensation System and AVOLENT's Self-Service Electronic Billing and Settlement application.
The ACom3 Application provides end to end automation of the commission and incentive compensation payout and reporting functions. The application allows business users to easily build and modify rules driven commission and bonus plans to streamline processing and eliminate manual effort regardless of the complexity of the business process. ACom3's multi-tier enterprise platform includes an integration portal for information staging and delivery; a payee portal with web-based access; and advanced business intelligence reporting capabilities.
"We are pleased to be part of the FirstPortfolio offering and we believe it will offer many health plans the opportunity for a more efficient and cost-effective approach to gain the benefits of the ACom3 application," said Tom Davis, Vice President of Sales and Marketing for ACTEK.
AVOLENT presents an innovative set of self-service capabilities that provides new levels of efficiency, collaboration, and cost savings for both healthcare payers and employee groups. AVOLENT's industry-leading, best-of-breed application suite focuses on automating the invoice presentment, membership roster management, and settlement processes. AVOLENT streamlines these processes by delivering a consolidated electronic invoice, thereby reducing the costs of invoicing, delivery, dispute resolution, payment, roster maintenance, and analysis. AVOLENT's self-service add, term, and modify functionality enables employee groups to ensure their membership rosters are current and accurate. Employer groups with multiple products can choose to receive a single consolidated bill, with charges grouped by subscriber.
"Billing is the most persistent and problematic customer interaction and it presents healthcare payers the opportunity to improve customer satisfaction and increase operational efficiencies," said Mike Seashols, chief executive officer of AVOLENT. "With FirstPortfolio, healthcare payers now have the additional flexibility and benefits of deploying the AVOLENT solution in a hosted model."
FCG will continue to search for the best solutions the industry has to offer and add new market leading functionality to FirstPortfolio in the coming months.
For more information about FirstPortfolio, visit FirstPortfolio.FCG.com.
About FCG
FCG is a leading provider of outsourcing, consulting, systems implementation and integration services and proprietary software products for healthcare, pharmaceutical, and other life sciences organizations throughout North America, Europe and Asia. Through combinations of onsite, offsite and offshore outsourced services, FCG provides low-cost, high-quality offerings to improve its clients' performance. The firm's consulting and integration services and proprietary software products increase clients' operations effectiveness with and through information technology, resulting in reduced costs, improved customer service, enhanced quality of patient care, and more rapid introduction of new pharmaceutical compounds. For more information about FCG, visit www.fcg.com or call 800-345-0957. or call 800-345-0957.
About ACTEK
ACTEK provides commission and incentive compensation software solutions that automate the process of calculating complex commission/incentives and bonus pay. Founded in 1999 with a focus on developing J2EE software products for the healthcare payer market, ACTEK's products have evolved to be compatible with any industry. ACTEK's current customer list consists of insurance, financial services, and retail companies. The product focus is to deliver extensive power to non-technical users, ensuring that our products easily provide both tactical and strategic benefits and offer very strong return-on-investment (ROI). ACTEK is headquartered in Birmingham, Alabama with a sales office in Philadelphia, Pennsylvania. For more information about ACTEK, visit or call 866-354-4221.www.acteksoft.com or call 800-345-0957. or call 800-345-0957.
About AVOLENT
AVOLENT is the leading provider of enterprise application software for self-service electronic billing and settlement process. The AVOLENT suite of applications transforms an organization's billing and settlement process into web self-service process that improves customer satisfaction and operational efficiencies, while preserving natural resources. Companies like Hewlett-Packard, Highmark, PacifiCare, Office Depot, Penske Leasing, and many others use AVOLENT to process over one billion dollars of invoices per day on the web to preserve tens of thousands of trees every year. AVOLENT is headquartered in San Francisco, CA. For additional information about AVOLENT, visit www.avolent.com.
Contact:
First Consulting Group (FCG)
Victoria Rogers, 800-345-0957
Director of Business Development, Health Plan Services
vrogers@fcg.com
or
MBooth & Associates
Keith Campbell, 212-481-7000
keithc@mbooth.com
or
ACTEK
Tom Davis, 866-354-4221 ext 248
Vice President of Sales
or
AVOLENT
Anthony Mejia, 415-553-6920
Vice President, Marketing
amejia@avolent.com
SOURCE:
First Consulting Group
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