WASHINGTON and PLANO, Texas, May 5 /PRNewswire-FirstCall/ -- Perot Systems Corporation and CareGain announced today an alliance to market CareGain's Defined-Care(R) platform as part of Perot Systems' Diamond(R) Enterprise Solutions for current and prospective clients. The combined offering will allow insurance companies, managed care companies and third party administrators (TPAs) to implement a wide spectrum of consumer-directed health plans. Perot Systems and CareGain will jointly market the new solution.
"In order to maintain a leadership position for DIAMOND Solutions in the core administrative system market, we created a services oriented architecture (SOA) that will allow our customers to extend the power of the DIAMOND Solutions' highly configurable information processing logic to meet current and future business needs," said Richard M. Pico, Ph.D., M.D., Perot Systems Healthcare chief medical and technology officer. "The move toward consumer- directed health (CDH) products is a complex phenomenon that demands great flexibility and agility in the underlying technology and business processes. While the DIAMOND system may integrate with many CDH software applications, we feel that our alliance with CareGain will produce the most complete CDH platform in the market today. We look forward to working with CareGain to bring a full suite of CDH technology solutions and business process service offerings to the payer industry," added Dr. Pico.
"According to a recent survey by Mercer, 73 percent of companies plan to offer healthcare savings accounts by 2006. The question is how they will be implemented. The alliance with Perot Systems will create a comprehensive consumer-directed enterprise solution, including healthcare savings accounts, that is available right now," said David Lenihan, CEO CareGain, Inc.
CareGain's DefinedCare(R) platform provides the incentive for employees to manage their healthcare spending, build assets for their future and save money. DefinedCare allows insurers and their employer customers to address multiple areas of cost containment. DefinedCare also enables healthcare savings accounts (HSAs) as well as real-time connectivity to pharmacies and pharmacy benefit managers and real-time adjudication of claims. For employees, DefinedCare offers tools and information to assess their healthcare costs and make decisions that best serve their healthcare needs.
Perot Systems DIAMOND(R) Enterprise Solutions for health benefits administration provide health insurance companies and managed care organizations of all sizes with a flexible, function-rich core administration system designed to support the need for real-time, member-focused, self- service information required by today's Internet-savvy users. Unlike many legacy claims systems that have been modified to manage current administrative challenges, the DIAMOND system's design architecture is based on the premise that all processes must be able to occur in real-time, and all business rules must be easily automated and changed. The services oriented architecture of Perot Systems' DIAMOND (R) Enterprise Solutions permits a consistent high rate of first-pass claims adjudication and simultaneously interconnects members, providers, payers, employers and brokers.
Perot Systems Corporation is one of the largest global providers of business process, technology, and consulting solutions in the healthcare industry. The company's healthcare clients include 4 of the top 20 United States health systems; more than 330 healthcare providers; 350 health insurance organizations; and thousands of caregivers, as well as leading life sciences and healthcare supply chain companies. Perot Systems Healthcare is committed to applying knowledge, using technology, and improving processes to solve the complexity of care delivery and health administration, while achieving sustainable results. Perot Systems Healthcare solutions help organizations successfully manage business processes, information, and transactions across the industry and between all constituents to meet those objectives. Perot Systems' broad expertise, wide reach, and deep relationships enable the company to impact healthcare, delivering results throughout the industry.
About CareGain
CareGain's Defined-Care(R) platform allows health plans to flexibly, rapidly and cost-effectively create and administer consumer-directed health plans, while leveraging their own internal systems and infrastructure. The platform enables many plan designs through the use of multiple account structures, including portability and defined-contribution retiree health benefits. CareGain, founded in 2001, is a privately held company based in Monroe Township, NJ. More information is available at: http://www.caregain.com/ .
About Perot Systems
Perot Systems is a worldwide provider of information technology services and business solutions. Through its flexible and collaborative approach, Perot Systems integrates expertise from across the company to deliver custom solutions that enable clients to accelerate growth, streamline operations and create new levels of customer value. Headquartered in Plano, Texas, Perot Systems reported 2003 revenue of $1.5 billion. The company has more than 13,000 associates located in North America, Europe, and Asia. Additional information on Perot Systems is available at http://www.perotsystems.com/ .
This press release contains forward-looking statements. These statements relate to future events or our future financial performance. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "forecasts," "expects," "plans," "anticipates," "believes," "estimates," "predicts," "potential," or "continue" or the negative of such terms and other comparable terminology. These statements are only predictions. Actual events or results may differ materially. Please refer to our Annual Report on Form 10-K for the fiscal year ended December 31, 2003, as filed with the U.S. Securities and Exchange Commission and available at http://www.sec.gov/, for additional information regarding risk factors. We disclaim any intention or obligation to revise any forward-looking statements whether as a result of new information, future developments, or otherwise.
Perot Systems CorporationCONTACT: Georgia Engle of Perot Systems Corporation, +1-972-577-6012, orcell, +1-214-499-2839; or Russell LaMontagne of CareGain, +1-212-255-5340
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