Adaptis Corporate Relocation Positions the Company for Growth
September 21, 2006
Seattle, WA – Adaptis, a leading comprehensive source for Business Process Integration solutions for health payers, today announced that its 10-year anniversary this month is marked by two major events: relocation of the Company’s worldwide headquarters to the Wells Fargo Center in Seattle’s central business district and positioning the organization to capitalize on recent industry changes. Adaptis is the vendor of choice for Quality Care Solutions Inc.’s (QCSI) outsourcing business for health payers organizations with up to 500,000 lives, and QCSI’s Qnxt product is the preferred platform for Adaptis outsourcing solutions. Adaptis is also the majority owner of Tēla, who holds an exclusive offshore outsourcing agreement with The TriZetto Group. Last week, TriZetto announced it is acquiring QCSI. This notice, combined with Adaptis’ move to a larger, more city-central locale, is opportune timing for the company, allowing them to maximize emerging opportunities.
Adaptis Chief Executive Officer Jim Anderson stated, “In our view, these relationships place Adaptis in the enviable position of providing outsourcing support to both TriZetto and QCSI, two top tier, highly respected companies in the health payer application services space. We look forward to working with both organizations as the acquisition process continues.”
As Adaptis marks its 10-year anniversary it looks back to when the healthcare industry was just beginning to understand how outsourcing could enable an organization to be more competitive through critical cost reduction strategies gained through business process integration. The issue rose to the forefront in 2002 when cost increases for health benefits reached an all-time high at nearly 15% annually. Today, U.S. companies are facing 2006 average increases of 8%. Cumulatively since 1996, the healthcare cost burden has risen by a whopping 140% (Source: 2006 Towers Perrin health care survey).
“Our 10-year anniversary marks an important time in our growth,” confirmed Jim Anderson. The market that Adaptis targets, small-to-mid size health plans, typically do not have the resources necessary to keep up with the increasingly complex and specialized services required to remain competitive and still offer quality healthcare. Anderson explained, “We provide these member-centric organizations with the equivalent of a virtual health plan – so they can focus on services for their members, or perhaps even add a new line of business – because having a ‘virtual health plan’ as a partner means acceleration of your time to market.”
Adaptis’ solution portfolio includes not only claims management but also medical management, credentialing, pharmacy benefit management, data collection and reporting for health outcomes studies, including HEDIS®, and real-time, online claims submission. Anderson concluded, “As a company we are very proud of our growth and the responsiveness to our clients’ needs. Together we supply the same breadth of services as outsized, less flexible organizations, while supporting positive outcomes for plan members, enhanced operational efficiencies, and service excellence.”
Adaptis worked with Parker Ferguson of Flinn Ferguson Corporate Real Estate to locate the best space for the Company’s 150+ Seattle-based staff, and signed the lease in late 2005. Adaptis also has an operational center in Yakima, Washington, and an international facility in Pune, India.
