ANN ARBOR, Mich., Feb. 15 /PRNewswire/ -- Employers can manage their health benefit programs more effectively with a new information solution forged by Medstat, part of The Thomson Corporation (NYSE: TOC; TSX: TOC), and IE-Engine Inc., the leading provider of Human Resource Cost Management services and technology.
Built upon IE-Engine technology, Medstat Vendor Relationship Manager allows companies to centralize their healthcare data and documentation in a web-based repository. The application automates collection of vendor information, compares vendor performance data with contractual performance guarantees, and manages the creation, maintenance, and storage of summary plan description documents.
“Owens Corning uses Medstat healthcare information tools and back-office technology from IE- Engine,” said Mark Snyder, director of benefits at Owens Corning. “Integrated information solutions empower the benefit management process -- saving money and freeing staff for more strategic activities.”
For years, Medstat has provided health claims databases and analytical tools that enable companies to manage the cost of healthcare and make decisions about their benefit programs. “With Medstat Vendor Relationship Manager,” said Medstat Vice President Jon Newpol, “we now provide this same level of high-quality, actionable information to support the entire healthcare procurement process.”
“Rising healthcare costs are one of the most critical issues facing companies,” said Brent Bannerman, founder and vice president of business development and marketing at IE-Engine. “Our partnership with Medstat will help executives react quickly to market changes, improve vendor performance and facilitate effective purchasing and renewal decisions.”
About IE-Engine
For HR Executives and employee benefits consultants and brokers, IE-Engine (http://www.ie-engine.com/ ) is the leading provider of human resource cost management services and technology. Through its technology-enabled solutions and expertise, IE-Engine drastically improves the process, management and costs associated with purchasing and managing HR services, such as employee health and welfare benefits, for companies such as Ford, Staples, Lucent, Watson Wyatt, and Hilb, Rogal & Hobbs. Founded in 1999, IE-Engine is a privately-held company that is headquartered in Waltham, Mass.
About The Thomson Corporation and Medstat
The Thomson Corporation (http://www.thomson.com/ ), with 2004 revenues from continuing operations of $8.10 billion, is a global leader in providing integrated information solutions to business and professional customers. Thomson provides value-added information, software tools and applications to more than 20 million users in the fields of law, tax, accounting, financial services, higher education, reference information, corporate training and assessment, scientific research and healthcare. The Corporation’s common shares are listed on the New York and Toronto stock exchanges (NYSE: TOC; TSX: TOC).
Medstat (http://www.medstat.com/ ) is a healthcare information company that provides market intelligence and benchmark databases, decision support solutions, and research services for managing the cost and quality of healthcare. The company applies these capabilities to improve policy and management decision making for employers, government agencies, health plans, hospitals and provider networks, and pharmaceutical companies.
Thomson Medstat
CONTACT: David Wilkins of Medstat, +1-734-913-3397,david.wilkins@thomson.com ; or Melissa Meyerowitz of IE-Engine,+1-781-697-2880, mmeyerowitz@ie-engine.com