CR Software on the website promotes Titanium ORE for medical billing and collection services. FICO has been working to get a hand in healthcare I think for a while. Their horrible mismatched data analytics I think is still out there for medication compliance. We have so many today slapping data bases together and think they have created value. Who sees the value? The users and who faces the Killer Algorithms FICO created with this pseudo analytics service for medication compliance, consumers. Perhaps with this acquisition they are getting in to some realistic business models. You can read more about the Medication Adherence mismatched data services below. Other than a credit report they don’t even tell you what else goes in there but they rate you from zero to 500 on what they “think” you prescription adherence will be and they definitely need some better data scientists in their company as they try to pass this one off.
FICO Analytics Press Release Marketing Credit Scoring Algorithms to Predict Medication Adherence–Update (Opinion)
There’s was another forum yesterday on the web where IT folks from big companies talked about this exact problem with value and the woman from T-Mobile called it right on with people matching up anything that flies and we get duped.
Big Data/Analytics If Used Out of Context and Without True Values Stand To Be A Huge Discriminatory Practice Against Consumers–More Honest Data Scientists Needed to Formulate Accuracy/Value To Keep Algo Duping For Profit Out of the Game
Back to the story here the dollar amount of the purchase was not disclosed. Frankly this is a very crowded field and I think the companies that do better here are those with founders that are doctors. I’m seeing a lot of that of late as corporate software, no matter how hard they try at times when the shareholder pressure is there, can’t get it right. They have more than just Revenue Cycle and offer expertise on collections, again dime a dozen for companies that do that today with algorithms that either dial your phone, do your analytics for business intelligence and all other other common software issues that a business uses today. Just like every other page in this area of service offers, they will increase your revenue and collections and I certainly hope we see more mergers in this area too, way too many of them out there. BD
MINNEAPOLIS, Nov. 26, 2012 /PRNewswire/ -- FICO (NYSE: FICO), the leading provider of analytics and decision management technology, today announced it has acquired CR Software, LLC, a leading provider of enterprise-class collections and recovery solutions for credit issuers, government organizations, collection agencies, retailers, healthcare providers and other enterprises. The transaction has closed, and terms are not being disclosed.
"FICO has long been a pioneer in providing advanced collections and recovery solutions to the financial services industry, with solutions built around FICO Debt Manager," said Martin Germanis, CR Software CEO. "Today, organizations such as governments, healthcare entities, agencies and retailers are demanding the same kind of enterprise-strength solutions as financial services institutions, but tailored to their specific needs. CR Software complements FICO's strengths and expands FICO's portfolio with a solution that yields superior ROI in multiple industries, the public sector and smaller collections agencies."