TXEN Inc. Partners with Seabury & Smith for Managed Care Health Services

Strategic Insights -

TXEN Inc., a provider of computerized claims administration services to the managed healthcare industry, has announced a partnership with Seabury & Smith Inc., a subsidiary of Marsh & McLennan Companies Inc., to develop a paperless healthcare system. The agreement will enable physicians to access electronic health benefits processing, streamlining the healthcare administration process. Seabury & Smith, with its 400,000+ members nationwide, will leverage TXEN's expertise to enhance its Third-Party Administration (TPA) services.

Key Takeaways:

  • TXEN Inc. has partnered with Seabury & Smith Inc. to develop a paperless healthcare system, linking physicians electronically to central processing units and data repositories for automated health benefits processing.
  • The partnership aims to enhance Seabury & Smith's Third-Party Administration (TPA) services, which serve over 400,000+ members nationwide.
  • TXEN will provide information systems services for Seabury & Smith's existing lines of business, in addition to cooperatively developing managed care health-related products.
  • The partnership will enable the development of a seamless healthcare administration process, reducing paper-based workloads and increasing efficiency.
  • Thomas L. Patterson, President of TXEN Inc., has emphasized the importance of this partnership, highlighting the potential for increased productivity and improved healthcare outcomes.
  • Seabury & Smith's TPA services are a testament to the demand for efficient healthcare administration solutions, with a large customer base and significant market presence.
  • The agreement between TXEN and Seabury & Smith is a significant development in the managed care health services industry, with both companies working together to drive innovation and improvement.

Statistics:

  • Seabury & Smith serves over 400,000+ members nationwide through its Third-Party Administration (TPA) services.
  • Marsh & McLennan Companies is a worldwide professional services firm with a stock listing on the New York, Chicago, Pacific, and London stock exchanges (ticker symbol: MMC).
  • TXEN Inc. is a privately held information services company providing computerized claims administration services to the managed healthcare industry.
  • Nichols Research Corp. (NRC) owns 19.9% of TXEN's capital stock, with an option to purchase the remaining outstanding shares (purchased on December 16, 1994).
  • NRC is a Huntsville-based company providing information systems and technical services for various clients, including commercial entities, state governments, and the Department of Defense (traded on the Over-the-Counter Market under NASDAQ symbol:NRES).

Sources:

  • Thomas L. Patterson, President of TXEN Inc. - quoted in the Business Wire announcement on October 5, 1995.
  • Seabury & Smith Inc. - a subsidiary of Marsh & McLennan Companies Inc.
  • TXEN Inc. - a privately held information services company.
  • Nichols Research Corp. (NRC) - a Huntsville-based company providing information systems and technical services.
  • Business Wire - a news distribution service providing business and financial news releases.