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Majority-Owned Adaptis Offshore Provider Continues
Growth Trend
Tēla Closes 2006 with significant growth and
kicks off 2007 with signing of 2 new clients
Seattle, WA - February 26, 2007 - Adaptis,
a leading provider of Business Process Integration solutions for health payors,
today announced that its majority-ownership stake in privately-held Tēla
Sourcing Inc., headquartered in Baltimore, MD, is paying off in continued
year-over-year growth. So far this year Tēla has signed two new three-year
business process outsourcing contracts. In 2006 Tēla increased its client
base to 23 (from 13 in 2005), and expanded its existing multi-year work order
contracts from 18 in 2005 to 47 in 2006. One of the new 2007 contracts is with
a leading Michigan-based provider of third party administration (TPA) services,
serving the needs of mid-size to large employers. The other is a Texas-based
TPA that provides coverage services for workers compensation, property,
liability and special risks. Tēla is providing claims processing and
pre-adjudication services to both new clients and additional adjudication
services to one of the clients. Their prestigious client list includes leading
healthcare management companies such as Blue Cross organizational subsidiaries,
HMOs, PPOs, TPAs and credentialing organizations nationwide and in Canada.
Brij Sharma, CEO of Tēla Sourcing, Inc., attributes the Company's
tremendous growth to a track record of exceptionally high performance service
delivery and ability to execute on client needs for consistent high quality and
real cost savings. Sharma stated, "Tēla's clients receive very efficient
and cost-effective service with optimum resource use and advanced technology.
Our clients realize results through the gain of significant efficiencies in
their processes, with many achieving cost-savings of 30-50%. Tēla's use of
OCR-based technology combines a highly efficient recognition capability with
advanced tools to apply validations and client business rules, and as a result,
our clients are seeing significantly improved auto-adjudication rates."
Tēla's work order expansions and glowing references reflect the
satisfaction clients have with Tēla services and the company's willingness
to increase their service commitments over time. Sharma added, "In 2007 we will
continue to make customer service a priority and expect another year of
significant growth as more health payors look for U.S.-based partners to
oversee their expansion into offshore claims processing in addition to other
higher value services."
As the cost of healthcare rises from $1.5
trillion in 2002 to a projected $2.6 trillion in 2010, health plans will face
increasing pressure on already limited resources. Offshore BPO, leveraging
technology and cost-effective resources, can save health plans in excess of 40%
of total administrative costs. These significant savings can lead to better
allocation of capital and resources for pressing business needs.
According to Jim Anderson, Adaptis Chief
Executive Officer and Tēla Chairman of the Board, "The healthcare industry
is showing growing realization that a combination of onshore and offshore
solutions are needed to gain the quality and cost improvements to be
competitive and this validates our unique flexible approach of offering any
combination of these services to our 999 Third Avenue, Suite 1700, Seattle, WA
98104 . 206.749.9456 clients." The Adaptis solution portfolio includes onshore
and offshore claims management, in addition to medical management, subrogation,
credentialing, pharmacy benefit management, data collection and reporting for
health outcomes studies, including HEDIS®, and real-time online claims
submission. Anderson added, "We are very proud of the quality and value that
Tēla provides our clients and the broader market. Market acceptance of
offshore services continues to increase and Tēla stands ready to serve
those clients with not only front-end claims processing, but with high value
services such as claims adjudication."
About Adaptis
The portfolio of Adaptis offerings positions
the Company as the comprehensive source for Business Process Integration
solutions focused on the small- to mid-tier health payor organization.
Solutions include administrative services, medical management and decision
support. The company also offers consulting expertise in business process
re-engineering and Change Management. Adaptis is headquartered in Seattle,
Washington, with a regional operations center in Yakima, Washington and through
Tēla Sourcing, Inc, an international facility in Pune, India.
http://www.adaptisinc.com.
About Tēla Sourcing, Inc.
Tēla Sourcing Inc., headquartered in Baltimore, MD, is backed by
majority-owner Adaptis Inc. As a business process outsourcing (BPO) provider
based in the United States and India, Tēla's innovative service approach
includes leveraging offshore business process outsourcing and information
technology to the health insurance industry, including health payers, health
plans, third party administrators (TPA) and managed care markets. Tēla is
an ISO 9001 certified company with a fully HIPAA compliant operation center
employing more than 400 associates and currently processing approximately 24
million transactions annually. Named for the Latin word for "web," Tēla
weaves together both offshore and value-added onshore solutions while offering
customers a single point of accountability with a U.S.-based account team.
For more information, visit http://www.tela-usa.com/.
CONTACTS:
Cheryl Isen, Isen and Company, for Adaptis
phone: (425) 222-0779
e-mail: Cheryl@IsenandCo.com
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