FOR IMMEDIATE RELEASE

Foresight Contact:
Elizabeth Scoville, (614) 791-1600
escoville@foresightcorp.com

DUBLIN, OH, May 30, 2007 –The nation’s leading healthcare organizations recently convened outside Scottsdale for “Focal Point 2007”, the first annual conference sponsored by Foresight Corporation to bring together healthcare leaders to discuss how to streamline healthcare operations through transaction lifecycle management.

“Transaction Lifecycle Management describes the wide range of solutions we have co-developed with our largest customers to streamline operations and cut administrative costs,” explained Robert Fisher, Foresight CEO. “Since its introduction, the concept has taken off among our wider customer base, so we convened a group of leading payers, providers and industry experts to learn more about the results this approach is delivering to the industry.”

Representatives from Foresight’s customer base including AHCCCS, BCBS of Nebraska, Coventry Health Care, Fidelis Care New York, Highmark, Independent Health, Mayo Clinic and WellPoint gave presentations and industry updates on healthcare IT. Among the performance statistics and projections cited as the result of their Foresight implementations:

• Reducing Claims and ERA reconcilement from 25 minutes per error to 5 minutes per error
  
• Cutting payment reconcilement timelines from as much as 4 hours per error to 5-10 minutes per error
  
• Achieving a 20% reduction in Call Center volume
  
• An average 2 to 5 percentage point improvement in provider submittal success, representing hundreds of thousands of dollars in savings per year
  
• Unprecedented insight into transaction details, from executive reporting and trend identification to specific transaction detail and status
  
• Proactive alerts for large volume or dollar transactions that may affect processing or revenue cycles.
  

In addition to panel discussions, interactive roundtables, and presentations, perspective was offered by industry experts.

“Finding ways to reduce administrative costs while at the same time improving services for members and patients is a very hot topic in the healthcare industry,” said keynote speaker Matthew Holt, futurist and author of The Health Care Blog. “I was struck at the conference by the relationship between Foresight and their customers. They're clearly working closely together to manage a set of complex transactions, while generating business insights that cause operational improvements. That's the kind of 'in the trenches' activity that health care organizations and the whole industry needs.”

A user experience panel featuring representatives from WellPoint, Coventry Health Care, Fidelis Care, BCBS of Nebraska, and AHCCCS covered how the Transaction Insight® (TI) Automation Platform has modernized their systems by automating the correction of claims payments, transitioning from earlier certification systems, and providing enterprise-wide business analytics and reporting capabilities for the full lifecycle of a healthcare transaction.

"Transaction Lifecycle Management ranks among the best opportunities to reduce the costs of health care administration in the U.S.," explained healthcare consultant Mary Kay McDaniel. "By taking the lead in this approach, Foresight is able to deliver real results to payers, providers, and Medicaid organizations by saving program dollars. It's very promising."

About Foresight Corporation

Foresight is driven by a passion for co-creation; working hand-in-hand with customers to solve today’s issues and anticipate tomorrow’s challenges. Foresight learns a customer’s business goals in detail, then works closely to bring about exactly-right solutions. Years of both business and technical experience power a dynamic approach that is unique; the body of knowledge accumulated from working with industry leaders ensures Foresight develops business solutions that are intuitive to the business processes—and the people—they’re designed to support. The Transaction Insight platform is used by leading payers and BCBS organizations nationwide to provide insight into business operations while shortening revenue cycles, reducing administrative costs, and improving provider relations. For almost 20 years, Foresight has helped customers build standards-compliant networks, address mandates like HIPAA and NPI, connect partners, validate transactions, and secure operational efficiencies. For more information, visit www.ForesightCorp.com or call 1.888.500.0800..

###