Mitchell To Acquire Medical Cost Containment Firm

San Diego-based Mitchell International Inc., a provider of information and performance management solutions for the insurance claims and collision repair industries, announced today that it has an agreement to acquire the workers' compensation medical cost containment business of Fair Isaac Corp.

The purchase price was not disclosed.

Mitchell said that Minneapolis-based Fair Isaac's medical cost unit provides the workers' compensation sector with medical bill review technology, including its trademarked solution SmartAdvisor and an extensive portfolio of outsource and medical professional review offerings.

Jim Lindner, Mitchell International executive chairman, said with the acquisition the firm “is extending its presence and leadership in the casualty claims realm, both in the auto and workers' compensation arenas.”

Mitchell Medical, the company's casualty solutions division, provides cost containment technology and service solutions for the auto casualty claims market with product offerings such as its Decision Point medical bill review and ClaimIQ decision support solutions.

Alex Sun, Mitchell president and chief executive officer, said he looks forward to working with the new Mitchell Medical workers' compensation team and plans “an enhanced commitment to innovation and a focus on truly distinguished customer service–just as we have done in auto casualty claims cost containment. We are committed to serving our customers and look forward to supporting Fair Isaac's bill review clients.”

He added that the firm looks forward to uniting the expertise of its auto and workers' comp teams to identify new technologies that will satisfy the complex and changing regulatory environment, as well as furthering the work we are accomplishing today in data analytics.”

Mark Greene, CEO of Fair Isaac Corp., said that “Mitchell has an outstanding track record of providing medical cost containment solutions to the auto insurance industry. We look forward to working with Mitchell and taking advantage of its considerable experience and investment in the SmartAdvisor solution, which will extend its leadership into the workers' compensation industry.”