If you have been reading here long enough, there’s money in those algorithms, aka mathematical data formulas and in this case it is in the area known as business intelligence. Exactly what area of intelligence is being pursued here is kind of foggy to follow but $42 Million will certainly buy many algorithms for analytical purposes.
You can read the press release and it talks about the award winning digital online dashboard Maricom created to allow the public to visualize and analyze Medicare spending and to the average consumer you will never or maybe go there once. As you can see insurance companies here are represented with the United Healthcare subsidiary, Ingenix being a participant in all of this and notice the additional plug in the PR.. You just wonder sometimes is the next contract to be awarded going to be an effort to combine this dashboard and others as that’s how some of this business feeds itself versus being tied in with one cheaper solution all under one roof. The contract runs through 2013 if all options are exercised, in other words how many different algorithms does CMS want and need.
In other words we hear a lot about IT consultants and we don’t know exactly what they do, well here’s one of them who works with several companies that create research information and software for analysis. When viewing the website it appears they are working with other company technologies to combine and come up with a package of several software solutions from various sources to sell, the middle person if you will. When you think of health insurance companies today, you need to alter that thought a bit as due to subsidiary actions they are also making money on technology contracts with the government that adds to their bottom line profits too.
BALTIMORE, Dec. 20, 2010 /PRNewswire/ -- Maricom Systems, Inc. (www.maricom.com) announced today that it has been awarded a $42.9 million contract with the Centers for Medicare & Medicaid Services (CMS) to provide Business Intelligence and Extract, Transform and Load (BI/ETL) services to support the Agency's information systems. The contract extends through 2013, should all options be exercised. The BI/ETL activities performed under this contract not only support the Agency's information systems and data access, but also support CMS' mission to ensure effective, up-to-date health care coverage, promote quality care for beneficiaries, and provide transparency into federal healthcare data.
Through various national healthcare programs administered by CMS, the agency has amassed considerable volumes of transaction and demographic data that have become a tremendous asset to the federal government and the commercial healthcare industry as well. Today, this data is used for a variety of purposes such as Fraud, Waste and Abuse Detection, Chronic Care Initiatives, Risk Calculations, Physician Performance Assessment, Provider Profiling, and Payment Reconciliation. New initiatives include the support of an infrastructure that is essential to the maintainability and accessibility of CMS' data resources.
Joining Maricom in this effort are our partners, ViPS®, a General Dynamics IT Company, Ingenix, Thomson Reuters, and CadenceQuest (now Qlarion Inc). ViPS® is a leading provider of information management solutions for health payers and the federal government. Ingenix is a premier healthcare informatics company that improves the delivery and management of health programs using analytics and technology. Thomson Reuters has been an industry leader in the development of integrated, enterprise decision-support systems for nearly 30 years. Qlarion Inc is focused on providing business intelligence solutions for clients within the government sectors.