November 03, 2004
ikaSolutions Corporation Announces Acquisition of P.C.S.D. d.b.a. DataMedica
Extensive utilization management, provider practice evaluation, and full-process claims administration services advance
ikaSolutions’ leadership in enterprise resource planning (ERP) solutions for the healthcare industry.
Southborough, Massachusetts. November 3, 2004 - ikaSolutions Corporation, a leader in web-based ERP solutions for the healthcare industry, today announced the acquisition of P.C.S.D. d.b.a DataMedica, a provider of information systems for healthcare organizations. This move further strengthens
ikaSolutions’ position as a global leader in ERP business solutions for the healthcare industry.
Founded in 1990, DataMedica developed the first actuarially-sound provider practice evaluation service for healthcare organizations. The
ikaProfyle™ System is a "trusted" evaluation service that is universally accepted by physicians, insurers, and employers, says Dr. Solomon J. Zak, founder of DataMedica and current VP of Medical Systems for
ikaSolutions.
The ikaProfyle System is the only evaluation service that compares providers based on case-mix adjustment measures. Case-mix adjustment methodology is a disease-based profiling system that includes cost adjustments based on a patient’s disease in addition to age and gender. The entire healthcare community has a "profound interest" in the case-mix adjustment methodology, adds Dr.Zak.
"The acquisition of DataMedica is a significant evolutionary milestone for the
ikaEnterprise System," says Ravi Ika, president and CEO of the
ikaSolutions Corporation. The integration of DataMedica’s full process claims adjudication system combined with
ikaEnterprise’s self-service portals has evolved
ikaEnterprise into a complete ERP solution.
DataMedica’s rigorous internal information system, which includes extensive utilization data on providers, members, and groups, combined with the
ikaEnterprise’s powerful analytical portal system offers users a complete solution for their healthcare administration and claims processing needs. "The combined strength in technology and functionality clearly advances the
ikaEnterprise System as a full-service solution," says Ika.
Quality of care provider profiling, along with case-mix adjusted economic profiling, is fast becoming a standard for healthcare. The
ikaEnterprise System gained a complete HEDIS® administrative reporting system in addition to a primary care physician (PCP) specific quality reporting system to provide expert quality evaluation of both health plans and PCPs.
About P.C.S.D. d.b.a. DataMedica
DataMedica was a healthcare consulting and technology firm that developed comprehensive healthcare information systems for providers, insurers, and employers. DataMedica developed the first provider evaluation service to use case-mix adjustment measures. DataMedica also developed a claims adjudication system using breakthrough technology to automate the adjudication of healthcare claims with expert, rules-based precision and customization.
