Companion Data Services Selects Group 1 for Insurance Claims Processing

Pitney Bowes Group 1 Software has announced Companion Data Services (CDS), a provider of information technology services to support public health insurance programs administered by the Centers for Medicare & Medicaid Services (CMS), has selected Group 1's Finalist address quality solution to cleanse addresses and process insurance claims.

CDS is one of three nationwide enterprise data centers that support Medicare claims processing across the U.S. CDS helps Medicare accommodate a growing claims volume, standardize operations, expand electronic services, bolster security, and lower costs. CDS has a contract with CMS to process approximately 800 million claims annually that are submitted by hospitals and physicians in 30 states, the District of Columbia, and Puerto Rico. This represents about 65 percent of all Medicare claims in the country.

"As the volume of Medicare insurance claims grows, carriers look for technologies that make claims processing more efficient, and address quality is one area that can make a tremendous difference in cutting costs and securing timely delivery of customer communications," says Bill Sinn, strategic industry manager, insurance, for Pitney Bowes Group 1 Software. "CDS recognizes that address quality plays a key role in improving Medicare's productivity, and since its original implementation in 1988, Finalist has provided CDS and its parent company with industry-leading address accuracy."