Oklahoma Agency Signs Contract Renewal With HP
HP to Help Improve Healthcare Claims Processing, Administrative Services for State Workers
PALO ALTO, CA--(Marketwire - May 30, 2012) - HP Enterprise Services today announced the Oklahoma State and Education Employees Group Insurance Board (OSEEGIB) has signed a contract for HP (NYSE: HPQ) to continue providing claims processing and other services.
The agreement, which takes effect Jan. 1, 2014, is for one year with four one-year renewals. If all five years are executed, the contract is valued at $90 million.
OSEEGIB is a state agency that provides insurance benefits to Oklahoma's employees and educators. Under the terms of the contract, HP will help OSEEGIB to continue delivering a range of healthcare administration services while helping it prepare for program changes in a cost-effective manner.
As OSEEGIB's third-party insurance administrator, HP manages the agency's Health Risk Assessment program, providing online coaching and preventive care suggestions to help plan members better understand their health and how to improve it.
"In today's economy, both healthcare providers and members have choices, making it critical for us to deliver on our vision to efficiently and effectively process claims and help our citizens improve their overall health," said Frank Wilson, program administrator, Oklahoma State and Education Employees Group Insurance Board. "HP has already proven its effectiveness by dramatically speeding up our claims processing and using its knowledge of our culture to help Oklahomans achieve healthier outcomes."
HP will continue to maintain and enhance the HP MetaVance health solution, which automates a number of administrative processes for OSEEGIB. In addition, HP will continue to update the member and provider portals that enable healthcare organizations to administer many program benefits online and provide business process outsourcing services to support ongoing operations and new claims administration.
Recently, HP helped OSEEGIB comply with federal HIPAA 5010 requirements and is currently assisting the agency in meeting the national ICD-10 standards ahead of the deadline.
Under HP's management, claims processing is more efficient, accurate and faster, with most claims processed in one business day. From its facilities in Oklahoma City, HP processes approximately 3 million claims a year for more than 160,000 members and dependents, which includes state employees, teachers and retirees.
"Insurance providers must focus on everything from regulatory compliance to cost containment and improving people's health, making service, efficiency and value top priorities," said Susan Arthur, vice president, U.S. Healthcare Industry, HP Enterprise Services. "The HP team brings a proven solution as well as deep expertise and a passion for helping the agency improve efficiencies and the health of its members."
HP's premier client event, HP Discover, takes place June 4-7 in Las Vegas.
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