SOURCE: Eldorado Computing, Inc.

March 28, 2006 07:00 ET

Cypress Benefit Administrators Selects Eldorado Computing's BPO Services to Reduce Administrative Costs

PHOENIX, AZ -- (MARKET WIRE) -- March 28, 2006 -- MphasiS-Eldorado Computing, Inc. (ECI) announced today that Appleton, Wisconsin-based Cypress Benefit Administrators (Cypress) has selected ECI's Business Process Outsourcing (BPO) services for data entry of its claims. The goal of the one-year agreement is to increase accuracy, including faster turn-around time on claims processing, reduce staffing ratios, and trim costs. Cypress plans to phase in additional outsourcing services such as process certain claim exceptions and pended claims.

After two years of evaluating nearly 10 scanning and electronic data interchange (EDI) solutions, ECI's BPO services provided the attractive cost savings and return on investment (ROI) that met Cypress' requirements. Additionally, the BPO service offerings are seamlessly integrated with ECI's HEALTHpac solution, which Cypress relies on to manage, support and execute IT administration aspects of its Third Party Administrative services.

According to Marsha Philips, COO at Cypress Benefit Administrators, "We performed a comprehensive evaluation process that led us to select ECI's BPO services, including product demos, talking to other BPO clients and evaluating the potential ROI. ECI's BPO solutions were particularly attractive to us because all of the images are already in the system and tied to the claim, which makes for a seamless and efficient process." ECI's HIPAA-compliant BPO outsourcing transaction services are available on a per-member-per-month (PMPM) or a per-employee-per-month (PEPM) predictable pricing models that include:

--  Claims processing and adjudication, including data entry, exception
    processing (pre-pricing) and pend processing
--  Claims repricing
--  Mailroom functions
--  Provider maintenance
--  Billing
--  Eligibility and enrollment
--  Plan-building and maintenance
--  Utilization review
--  Reporting
    
According to Zane Bell, vice chairman of ECI, "Third party administrators and healthcare payers of all sizes are seeking new methods to increase efficiencies and profitability. Our end-to-end BPO offerings provide healthcare payers with an array of options to help them reduce costs by as much as 30 percent and maintain a competitive advantage. Our flexible service offerings allow Cypress to scale up with additional BPO services as their needs evolve."

About Cypress Benefit Administrators

Cypress Benefit Administrators is an integrated benefit management company combining technologically sophisticated claim systems and complete data-sharing capabilities with experienced staff to help employers gain control over their employee benefit expenditures. Cypress is committed to paying claims quickly, accurately, and in a consistent manner, specializing in controlling costs today and in the future through "The Cypress Solution," a comprehensive, state-of-the-art suite of medical risk management tools. Cypress is an industry leader in the administration of Consumer Driven Health Plans, providing one source for all Employer benefit needs, while delivering exceedingly superior service. Cypress has claims, sales and service offices at its corporate headquarters in Appleton, Wisconsin, Oconomowoc, WI, Kalamazoo, MI and Indianapolis, IN. For more information, visit www.cypressbenefit.com or call 920.968.4613.

About Eldorado Computing, Inc.

Based in Phoenix, Ariz., Eldorado Computing, Inc. (ECI) is a wholly owned subsidiary of MphasiS, a leading provider of IT and BPO solutions worldwide. ECI provides integrated software and ASP solutions for health benefits management, serving hundreds of third party administrators (TPAs), health plans, employers and self-insured organizations. Together, ECI's customers manage five million lives and handle 35 million claims annually. For more information, contact 602.604.3100 or visit www.eldocomp.com and www.mphasis.com.

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