November 15, 2004

ikaSolutions Corporation Provides a Broad Spectrum of Business Solutions for Freedom Health Plan

Freedom Health Plan is implementing the ikaEnterprise System.

Southborough, Massachusetts. November 15, 2004 - ikaSolutions Corporation, a leading provider of web-based, enterprise resource planning (ERP) solutions for the healthcare industry, today announced that Freedom Health Plan — a commercial, Medicare, and Medicaid start-up HMO in St. Petersburg, Florida — is implementing the ikaEnterprise System.

By deploying the ikaEnterprise System, Freedom Health Plan will enter the marketplace with a solid and robust infrastructure in place. "The ikaEnterprise System provides Freedom Health Plan with an end-to-end web-based solution to automate daily operations and streamline transactions across the Freedom enterprise," says Ravi Ika, President and CEO of ikaSolutions Corporation.

The ikaEnterprise System is a total ERP solution for healthcare organizations. The system is comprised of a series of web-based portals designed to automate daily operations; a full-process claims administration system; a complete Health Plan Employer Data and Information Set (HEDIS®) administrative reporting system; and a physician quality reporting system.

"Leading edge technology was a primary driver for Freedom Health Plan while evaluating vendors," says Christopher Reef, President and COO of US Healthcare Holdings (USHH), a full-service managed care outsourcing and management company in Cleveland, Ohio and Evansville, Indiana. The ikaSolutions products are "clearly in a class by themselves" in comparison to the functionality that other ERP healthcare companies offer, adds Reef.

"The ikaEnterprise System is a proven winner," says Dr. Devaiah Pagidipati, CEO of Freedom Health Plan. "We researched several solutions and chose the ikaSolutions product line for its rich functionality, easy implementation, and cost-effectiveness," adds Dr. Pagidipati.

Sales portal functionality, in particular, won Pagidipati’s interest. "Getting live, accurate information online when insurance brokers need it is imperative to be successful in today’s marketplace," says Dr. Pagidipati. With the ikaEnterprise System, brokers can access critical information online in real-time and close business faster. Plus, real-time access to information will enable licensed users to maintain control of transactions across the Freedom enterprise.

In addition, Dr. Pagidipati was pleased with finding a fully-integrated end-to-end solution where all the functionality was provided in "one-stop" instead of from multiple vendors.

ikaEnterprise’s claims administration system will enable Freedom Health Plan to reduce average claims processing expenditures by up to 80%. The claims system utilizes proprietary breakthrough technology to automate the electronic adjudication of healthcare claims with expert rules-based precision. Claims input (with electronic data interchange [EDI]), adjudication and payment occur in milliseconds.

"The benefits of the ikaClaims System outweigh the competition by far," says Reef, who was engaged by Freedom Health Plan to implement a claims system and full back-office administrative support via ikaSolutions technology. ikaClaims contains a full suite of preprogrammed modules which provides administrators with instant access to available information across the entire spectrum of the healthcare industry. Accessible information includes EDI–payer, benefits, provider, membership, claims, authorization, code maintenance, billing, and data exchange information.