By Connie Harvey
Here at Xerox, we are always looking for new ways to simplify the way work gets done, especially for the clients and customers we serve. The insurance industry is no different.
With the U.S. government’s recent approval of our acquisition of ISG Holdings, Xerox is putting its money where its mouth is: Spending $225 million to acquire two of the leading providers of workers’ compensation medical bill review and clinical care services ̶ StrataCare and Bunch CareSolutions. Both are now Xerox companies. This acquisition demonstrates our commitment to offering insurance clients world-class, industry-specific solutions so they can stay focused on what they do best.
Why workers’ compensation? This is a growing market. As the U.S. economy creates more jobs, workers’ compensation claims are expected to follow. With the addition of ISG’s software and services, Xerox will be able to help more clients simplify their business, while also solidifying our presence as a top-tier service provider in the insurance sector.
But, more important, how will we be able to help more clients in this growing market? Insurers, third-party administrators and self-insured employers can maximize their savings, and help keep premiums affordable, by engaging the right partner. With this acquisition, Xerox will be able to offer end-to-end outsourced bill review services to improve accuracy, elevate compliance and speed up bill review processing which will help clients’ better contain and control costs.
Clients of Xerox, StrataCare and Bunch Care will also benefit from working with a single-source global solution provider who brings long-term consistency and value-added services.
This acquisition is a good fit for Xerox – because it deepens our industry expertise and expands our technology platforms and capabilities. Most notable, it positions us as a major player in the ever-expanding insurance sector.