A Medical Device Daily

To spur new development and market demand for payer-focused, rules-based claims and benefits management technology, HealthTrio (Centennial, Colorado) and its principal owner, Malik Hasan, MD, have spun off their xpress solution to form an independent company called Monument Systems.

Monument Systems will be led by Marty Chadwick, president/COO. As a former CIO at managed care plans, a COO at a managed care software firm and a developer of managed care systems, Chadwick brings more than 30 years of combined experience in health plan operations, managed care systems, process improvement and software implementations. The current xpress team will continue to deliver product development, sales and customer support under the new firm.

"With today's economy, it's more important than ever that healthcare payers strengthen their competitive positioning through increased operational efficiencies, enhanced financial performance and improved member service," said Hasan, president and CEO of both companies.

Monument Systems will focus on addressing emerging market needs by providing a superior core administrative system and additional solutions for HIPAA 5010 and ICD-10."

The xpress solution enables health plans to leverage a unique rules-based system that provides the automation and flexibility to reduce operational costs while fulfilling payers' advanced information processing needs. Features include comprehensive benefits administration, rules-based claims processing, financial management, provider management, workflow optimization and customer service.