Dublin, Boston, London, Melbourne and Denver, CO, May 23, 2006 - FINEOS, a global provider and recognized expert in the development of packaged software solutions for the insurance and banking industries, and Reed Group, the leader in return-to-work and disability duration guidelines, today announced a strategic partnership that delivers integrated disability claims processing solutions to insurance companies and third party administrators (TPAs) to empower better return to work guidance and more efficient case management productivity in their greatest cost area, claims management.
The partnership delivers a fully integrated real time solution enabling end-users to directly access within the FINEOS Claims solution, The Medical Disability Advisor: Workplace Guidelines for Disability Duration, Fifth Edition (MDA), by Presley Reed, MD (Editor-in-Chief). The MDA is the recognized return-to-work reference leader providing the only evidence-based disability duration guidelines built from actual and observed case data and provides expected recovery time frames for the injuries and illnesses of working people. The companies will coordinate their efforts targeting insurance and administration providers in markets globally. FINEOS has an established international reach and The Medical Disability Advisor is the world´s most widely used disability information resource with over 22,000 customers throughout the US and in 38 other countries.
"Seamlessly integrating these two web-services based solutions provides our customers with a vast amount of real-time information, in clean, intuitive interfaces to help them manage their businesses more effectively," stated Michael Kelly, President and CEO, FINEOS Corporation. "That aspect is inherent. Where the value increases is MDA´s ability to close the loop on absences through true disability timelines and reliable information management that can be used to increase productivity and help companies protect themselves from liability."
"By partnering with FINEOS, the premier provider of core life insurance and disability claims management solutions, Reed Group expands its capability to help companies manage employee absences in a non-adversarial and respectful manner," stated Presley Reed, MD, Chairman and Chief Medical Officer of Reed Group. "Claims managers who use the FINEOS Claims Solution, together with the MDA return-to-work guidelines, will have a powerful on-line resource that streamlines formidable amounts of evidence data and enables them to bring people back to productivity while measuring the results of their case management efforts for all involved parties."
About FINEOS
Founded in 1993, FINEOS is an award-winning global provider and a recognized expert in the development of packaged software solutions for the insurance and banking industries. The FINEOS Insurance Suite includes front-to-back solutions for sales & service, claims management, payments, underwriting and policy administration and is designed for life and health (including group, individual disability and long-term care) and property and casualty (including workers´ compensation). The FINEOS Banking Suite provides sales & service solutions, most notably for mortgage lending, which combine enhanced customer interaction management with bank-specific workflow automation. FINEOS solutions are built on a componentized platform that blends customer relationship management (CRM) and workflow automation with traditional core processing, delivering ease-of-use, straight-through processing and operational efficiency. Clients may choose a full enterprise suite or application-specific approach, implemented in phases, as appropriate. FINEOS solutions deliver documented benefits for some of the world´s leading insurance carriers and banks. The company has offices in Australia, Europe and the USA. For more information, please visit www.FINEOS.com
About Reed Group, Ltd.
Reed Group´s primary goal is to maintain and increase the quality of information, services and products designed for healthy return-to-work results. This is accomplished through four lines of business: Guidelines, Service, Data Analytics, and Education. Reed Group publishes the industry standard disability guidelines, The Medical Disability Advisor, now in its Fifth Edition (3,500 pages, 2-volume printed set, Windows software, Internet, and data license versions). Reed Group provides integrated clinical disability management services for non-occupational and occupational leaves with advice-to-pay services, and Family and Medical Leave Act (FMLA) administrative services. For more information on Reed Group, please contact Marty Reader at 866.889.4449 or visit www.ReedGroup.com