Mitchell International Acquires ClaimIQ

Mitchell International (San Diego) has acquired ClaimIQ (San Francisco), a provider of medical claims decision optimization, this week to enhance its claims platform for insurers with auto and general liability lines.

The vendor, a workflow solutions provider to automotive insurance and collision repair industries, has strategically integrated ClaimIQ into a business unit of Mitchell's Medical division. "Together we can bring an excellent productivity tool to market faster and better than either organization could have realized separately," Tom McCarthy, senior vice president and founder of Mitchell Medical, said in a release.

ClaimIQ delivers automated best practices, predictive analysis and real-time recommendations, allowing its customers to process claims efficiently, according to a Mitchell source. "This enables Mitchell to grow on the casualty side," states Tom Baird, senior vice president of product management for Mitchell International. "There's a lot of demand for integrated medical claims processing and Mitchell wants to branch out."

Baird, who is also former president and CEO of ClaimIQ, says the merger also places ClaimIQ's product in a secure and significant position in the sales market. "If you marry Claim IQ with Mitchell's Decision Point (a medical bill review and workflow) it provides a stronger solution distribution channel; it offers a third-party bill review in a combined form. Clearly this is the most integrated complete solution in marketplace."

As part of the integration, ClaimIQ also will introduce a new set of products such as bill review and collision estimating, which combined will enable a new generation solution. "Claim IQ will provide Mitchell's customers with business analytics coming from both first- and third-party medical claims, incorporated with auto physical damage claims."

"From an end-to-end vision solutions standpoint, the desktop came together quite nicely," says Baird. "It makes sense to give our customers all the critical information they need in one place to help them process a claim quickly and easily."