Scan-OpticsÂ’ Claims Processing Solution Successfully Installed to Process 15K Workers Compensation Claims Daily
Scan-OpticsÂ’ Claims Processing Solution Successfully Installed to Process 15K Workers Compensation Claims Daily
(PRWEB) August 30, 2002
Manchester, CT – August 26, 2002 – Scan-Optics, Inc., (OTC BB: SOCR) a leader in information capture customer service solutions for government, insurance, order entry, proxy, health claims, test scoring and other paper-intensive businesses, today announced that a major insurance company in New England is successfully using their electronic medical claims software, Image EMC++, to process over 15,000 workers compensation claim forms daily. The company is also utilizing two Scan-Optics scanners and plans to upgrade the newest version of Image EMC++, Version 6.0 in the near future.
Since implementing Image EMC++, the company has been able to consolidate their claim processing from 200 field locations into one centralized location. The company has reduced their data entry staff from 200 down to 140, resulting in annual savings of $2.1M. They estimate a pay–back period of less than 2 years. They have seen a tremendous reduction in claims backlogs, lost claims and claims paid in error.
The company selected Image EMC++ over all of the available claims processing solutions because Scan-Optics offered a total data capture solution with a single point-of-contact approach. Image EMC++ provides the power and flexibility to handle various types of forms and the ability to incorporate business rules in front end processes, which reduces manual intervention and improves data quality down stream. The Scan-Optics series scanners provide a competitively priced, high-speed image based system that combines power and speed to provide superior scanning and imaging capabilities.
Richard C. Goyette, Vice President of Sales and Marketing for Scan-Optics, said, “Workers compensation claims processing can be complicated due to the frequent use of attachments, with the additional need for accurate data and fast turnaround. We are very pleased that Scan-Optics’ total solution approach in providing superior scanning and information capture capabilities was able to provide the customer with the tools to achieve their productivity goals. This implementation is just one example of the many ways a growing number of companies are successfully using Scan-Optics solutions and services to solve their unique business challenges. We are proud to be a part of this successful application.”
Scan-Optics, Inc., with headquarters in Manchester, Connecticut, is recognized internationally as an innovator and solution provider in the information management and imaging business. It designs, manufactures and services products and systems for character recognition, image processing and display, data capture, data entry, and storage and retrieval. Scan-Optics systems and software are marketed worldwide to commercial and government customers directly and through distributors. Through its Manufacturing Services Division, Scan-Optics also provides contract manufacturing services to customers, outsourcing the manufacturing of complex, electro-mechanical assemblies. The Company has sales and service offices located throughout the United States and abroad.
Additional information is available at www. scanoptics. com.
Statements about the Company’s future expectations, including future revenues and earnings, and all other statements in this press release other than historical facts are “forward-looking statements” made under safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and involve a number of risks and uncertainties that could materially affect future results. Among these risk factors are changes in general economic and business conditions in the United States and foreign markets, which impact capital investments by customers, the cyclical nature of funding within federal and state government agencies, further adverse changes in the Company’s banking relationship, insufficient cash resources, increased competition from similar products, the implementation of other technologies which may provide alternative solutions, ability to complete projects in a timely manner, and other risk factors and cautionary statements listed from time to time in the Company’s periodic reports filed with the Securities and Exchange Commission, including but not limited to the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2001.
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