2006 News Release
Ingenix and ID Analytics Form Alliance to Combat Health Care Fraud and Abuse
EDEN PRAIRIE, MN and SAN DIEGO, CA, June 7, 2006 – Ingenix, a UnitedHealth Group (NYSE: UNH) company, and ID Analytics Inc., the Identity Risk Management technology company, today announced a strategic alliance to offer new solutions for health care fraud and abuse detection. The companies will develop advanced technologies to detect fraudulent and erroneous health care claims.
"By applying technology and the brightest minds in the industry, our companies are working together to develop artificial intelligence applications for health care fraud detection," said Richard Anderson, CEO of Ingenix. "In our alliance with ID Analytics, we will apply proven predictive analytics and scoring technologies to the health care fraud and abuse detection process, thereby improving the integrity of paid claims."
"It's significant for ID Analytics to be associated with one of the largest and most admired health care companies in America," said Bruce Hansen, chairman and CEO of ID Analytics. "Fraud is a serious issue in health care. This alliance with Ingenix means that health care organizations will be able to better protect themselves from fraud and abuse. In turn, this will better protect consumers and providers from being victimized and subjected to higher health care costs as a result of fraud."
According to National Health Care Anti-Fraud Association estimates, at least three percent of the nation's annual health care outlay is lost to outright fraud. Other estimates by government and law enforcement agencies place the loss as high as 10 percent of annual expenditures — exceeding $170 billion lost each year.
Ingenix offers a broad portfolio of products and services to help health care payers prevent, detect and recover fraudulent, erroneous and abusive health care claims payments.
About Ingenix
Ingenix delivers Intelligence for Health Care. A UnitedHealth Group (NYSE: UNH) company, Ingenix unites the brightest minds to transform organizations into market leaders and improve health care through information and technology. Ingenix serves a diverse customer base within the health care community. For more information about Ingenix and its products and services, please visit www.ingenix.com.
About ID Analytics, Inc.
ID Analytics is the Identity Risk Management company providing advanced analytic solutions that prevent identity fraud and manage identity risk across the customer lifecycle. ID Analytics' intelligent ID Network®, the first and only real time national network built exclusively to manage identity risk, makes it possible for organizations to calculate the risk associated with an identity and balance identity risk against profit. The ID Network is in use daily by over half the credit and retail card issuer market in the US, as well as leading wireless and online consumer finance companies. To empower consumers and to help more organizations in more industries to fight identity fraud, ID Analytics has channel partners in the bankcard, credit reporting and retail banking industries.
ID Analytics is a registered trademark of ID Analytics, Inc. All other trademarks and registered trademarks are the property of their respective holders.
