Complete Story
12/08/2009
THE NATIONAL BLUE CROSS AND BLUE SHIELD ASSOCIATION SELECTS ATTUS TECHNOLOGIES AS PREFERRED PROVIDERFOR OFAC, OIG, EPLS AND USA PATRIOT ACT COMPLIANCE
CHARLOTTE, N.C. - (December 8, 2009) - ATTUS Technologies, Inc., has been selected by the Blue Cross and Blue Shield Association (BCBSA) as a preferred provider for watchlist screening software for OFAC, OIG and EPLS and USA PATRIOT Act compliance solutions. Under the contract, ATTUS will offer its compliance software to BCBSA's Chicago headquarters and its member Blue Cross and Blue Shield companies nationwide.
With its market leading regulatory compliance software products, cutting edge technology and personalized approach to service, ATTUS is uniquely positioned to support BCBS with its compliance needs. ATTUS will offer BCBS companies either WatchDOG® Pro, its web-based watch list checking solution, or its desktop counterpart, WatchDOG® WinPro. These robust products will allow them to simultaneously cross check their entire database or a single person or entity against OFAC's SDN list and multiple other watch lists. Using an advanced name search recognition algorithm, the software produces more accurate results, reduces false positives and it generates detailed reports for compliance documentation.
Members of the healthcare industry, like all U.S. businesses, are required to comply with the U.S. Treasury Department's Office of Foreign Assets Control's (OFAC) sanctioning program. "When you consider that they must cross check every insured claimant's name against appropriate watch lists in order to comply with OFAC and other regulations, it could get very labor intensive and costly," said Tom Fedell, President and CEO of ATTUS. "We are very pleased to offer BCBS companies our market leading solutions and an affordable and accurate way to facilitate their compliance requirements."
The versatility of WatchDOG® Pro and WinPro will also give the BCBS companies the ability to choose the watch lists that are applicable for their operations, such as the OIG list, which prevents certain individuals or businesses from participating in federally funded health care programs, and the EPLS list, which blocks targeted individuals or businesses from receiving federal contracts. Checking all applicable lists at the same time reduces the manual effort and the cost of being a compliant organization.
