Together, OpenSpan and Triangle BPA are well-positioned to have a dramatic impact on health payers’ efforts to reduce administrative costs, comply with changing regulations, accelerate service, and reduce waste and errors.
Alpharetta, GA (PRWEB) January 05, 2012
OpenSpan, Inc., an innovative provider of business process analytics, optimization and automation solutions, has signed a definitive agreement to acquire Triangle BPA, LLC, headquartered in the Research Triangle region of Raleigh-Durham, North Carolina. The acquisition follows a year-long partnership between the two companies in support of insurance industry customers. OpenSpan has secured rights to intellectual property for Triangle BPA’s health insurance payer claim automation tools and techniques, as well as adding key senior staff with extensive industry expertise to the OpenSpan executive team.
According to Triangle BPA Co-founder Rod Dunlap, it became clear that combining the capabilities of the two companies created a comprehensive approach to the business process optimization and automation needs of the insurance industry. “Working with OpenSpan, we quickly saw the power and value of a unified offering,” said Dunlap. “Together, we are well-positioned to have a dramatic impact on health payers’ efforts to reduce administrative costs, comply with changing regulations, accelerate service, and reduce waste and errors with a compelling, fully automated claim repair solution.”
Triangle BPA’s Claim Control Engine™, a business process automation engine for accelerated health insurance claim auto-adjudication, is being rebranded and relaunched this week as the OpenSpan Automation Engine™. It manages specialized, reusable components containing business rules and repair actions in a service-oriented architecture. These reusable components are assembled into customized claims processes that automate repairs. Components can be iteratively enhanced and reused across multiple repair scenarios for fast time-to-deployment, giving insurance payers tremendous flexibility to react to changes such as claims inventory fluctuations, new regulations, and member or provider service needs.
The engine executes claim repairs via a foundational set of business process definitions and integration services called Reinacts, a Triangle BPA solution that is retaining its brand under the OpenSpan auspices. Reinacts are customizable process automation templates based on the most common claims adjudication practices. Automations are configured and integrated with core systems in the insurance back-office using OpenSpan’s visual development environment. OpenSpan accelerates business rule definition with a process analytics tool for automated business process discovery.
OpenSpan has served customers in the insurance industry for years, with numerous front-line and back-office implementations. Increasingly, organizations across many industries are turning to the back office as the next frontier for accelerating enterprise efficiency and performance. The acquisition of Triangle BPA is the first initiative of a strategic expansion into additional back-office environments, where more than a third of current customer implementations are found today, according to OpenSpan CEO Eric Musser. “We have enjoyed tremendous success over the years helping contact centers and other front-office operations simplify and automate business processes across multiple applications on a worker’s desktop. Our technology is also widely used in back-office environments that are perhaps less visible, but have just as much impact on customer relationships and operational costs as does the front office,” Musser said.
OpenSpan offers process analytics software for automated business process discovery and operational performance metrics, and iterative, drag-and-drop tools for building and implementing process simplification or complete process automation across enterprise applications. OpenSpan solutions require no changes to IT architecture or mission-critical applications, providing rapid deployment, agile response to changing business needs, and continuous, iterative improvement. OpenSpan customers include Fortune 500 organizations in financial services, insurance and telecom, among other industries, who report exponential ROI, improved compliance, productivity improvements and enhanced customer experiences. The privately held company is based in Alpharetta, GA. For information, visit http://www.openspan.com.