SOURCE: MetricStream, Inc.

MetricStream, Inc.

June 23, 2009 09:00 ET

BlueCross BlueShield of Tennessee Selects MetricStream for GRC

Platform to Provide an Integrated Software Solution for Compliance, Risk and Quality Management

PALO ALTO, CA--(Marketwire - June 23, 2009) - MetricStream, Inc., the market leader in enterprise-wide Governance, Risk, Compliance (GRC) and Quality Management solutions today announced that BlueCross BlueShield of Tennessee (BCBST), an independent, not-for-profit licensee of the BlueCross Blue Shield Association, has selected the MetricStream platform for deploying an integrated software solution for a broad range of business processes including governance, compliance, quality management, risk management, and corrective actions. The solution will enable BCBST to effectively meet obligations with various industry standards, government regulations and internal policies and procedures.

Based in Chattanooga, Tennessee, BCBST provides cost-effective, quality healthcare benefits to approximately 3 million members. BCBST and its subsidiaries are committed to conducting business with ethics, integrity and in accordance with federal, state and local laws and regulations. The enterprise-wide program to automate and streamline critical GRC and Quality Management processes will facilitate information management, collaboration, communication and oversight necessary for meeting this commitment.

"Healthcare insurance providers are pressing forward with a number of reforms and initiating programs to improve quality of operations, ensure compliance with industry regulations and manage risk exposures," said Gaurav Kapoor, CFO and General Manager at MetricStream. "MetricStream's superior solution offerings provide a single point of reference for a number of complex and entwined processes and synergize risk, compliance, internal audit and quality management for greater visibility, lowers costs and higher efficiency."

About MetricStream

MetricStream is a market leader in Enterprise-wide Governance, Risk, Compliance (GRC) and Quality Solutions for global corporations. MetricStream solutions are used by leading corporations such as Pfizer, Philips, NASDAQ, Sandisk, BP, Entergy, Subway, Fairchild Semiconductor, Hitachi and TaylorMade-Adidas Golf in diverse industries such as Pharmaceuticals, Medical Devices, Automotive, Food, High Tech Manufacturing, Energy and Financial Services to manage their quality processes, regulatory and industry-mandated compliance and corporate governance initiatives, as well as by over a million compliance professionals worldwide via the www.complianceonline.com portal. MetricStream is headquartered in Palo Alto, California and can be reached at www.metricstream.com.

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