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Archive for July, 2012

Arbitral Tribunal Issues Award in Favor of Aspen Technology in Arbitration Proceeding vs. Advanced Technology Middle East, WLL

BURLINGTON, Mass — Aspen Technology, Inc. (NASDAQ: AZPN), a leading provider of software and services to the process industries, announced that an Arbitral Tribunal operating under the auspices of the International Court of Arbitration of the International Chamber of Commerce had issued a partial final award in the arbitration proceeding captioned Aspen Technology, Inc. v. Advanced Technology Middle East, WLL, Case No. 16732/VRO. Among its determinations, the Tribunal concluded that AspenTech acted lawfully in terminating the reseller agreement with AspenTech Middle East (now known as Advanced Technology Middle East, WLL) (“ATME”). As a result, AspenTech is not obligated to pay to ATME the termination fee specified by the reseller agreement or any other fee or damages. In addition, the Tribunal concluded that ATME is liable to pay AspenTech damages of approximately $20 million, including interest, and approximately $5 million in costs. The award is final and binding, although the Tribunal has reserved certain other residual claims by AspenTech against ATME for subsequent determination by the same Tribunal if required.

Mark Fusco, Chief Executive Officer of AspenTech, said, “We are pleased with the result in this arbitration proceeding, and we look forward to continuing to serve our customers in the Middle East and around the world.”

About AspenTech
AspenTech is a leading supplier of software that optimizes process manufacturing – for energy, chemicals, pharmaceuticals, engineering and construction, and other industries that manufacture and produce products from a chemical process.  With integrated aspenONE solutions, process manufacturers can implement best practices for optimizing their engineering, manufacturing and supply chain operations.  As a result, AspenTech customers are better able to increase capacity, improve margins, reduce costs and become more energy efficient.  To see how the world’s leading process manufacturers rely on AspenTech to achieve their operational excellence goals, visit www.aspentech.com

Arbitral Tribunal Issues Award in Favor of Aspen Technology in Arbitration Proceeding vs. Advanced Technology Middle East, WLL
BURLINGTON, Mass — Aspen Technology, Inc. (NASDAQ: AZPN), a leading provider of software and services to the process industries, announced that an Arbitral Tribunal operating under the auspices of the International Court of Arbitration of the International Chamber of Commerce had issued a partial final award in the arbitration proceeding captioned Aspen Technology, Inc. v. Advanced […] »

HighRoads Launches Mobile App for Health Care Reform Compliant Summary of Benefits & Coverage Materials

HighRoads, industry leader in employer health care compliance and benefits management, today announced that it has designed the first-of-its-kind smart phone app that allows employers to provide legally-compliant Summary of Benefits & Coverage (SBC) materials to plan participants on a mobile device.

A requirement of the Affordable Care Act (ACA), SBCs are clear, concise and user-friendly documents that plainly communicate health plan benefits and coverage. Now, with the HighRoads Mobil App, employers have the opportunity to provide their plan participants and beneficiaries with this clear, concise information right on their mobile device so that they can make smart health care decisions from anywhere.

According to a Nielson report early this year, 74% of respondents between the ages of 35-44 purchased a smart phone within the last three months. While 65% of 45-54 year olds made similar purchases. An effective means of communicating the SBC to employers is by way of electronic distribution. Moreover, communicating in a way that is accessible by mobile app will be even more effective because of the increasing numbers of people who access information on their mobile devices.

“Communicating faster, more accurate information about health plan coverage is a hot button affecting all employers as federal health care reform begins to take effect,” said Michael Byers, CEO, HighRoads.  “In response to employer’s requests, HighRoads continues to develop solutions to electronically disseminate ACA communication documents to employees as soon as they are available.”

HighRoads is the only technology provider that ensures compliance with Department of Labor (DOL) and Health and Human Services (HHS) regulations and demonstrates a significant return on investment to create and manage employers’ SBCs and Summary Plan Descriptions (SPDs). The mobile app not only enables employees access to valuable plan information in the way they want it, it also tracks and records employee access to SBCs for employers and plan administrators.

The SBC app is currently available to HighRoads ACA Portal clients and can be downloaded onto an iPhone. It will be available for the iPad and Android later this year.

To see a demo of the app, please contact Petra Marino at pmarino@highroads.com

HighRoads Launches Mobile App for Health Care Reform Compliant Summary of Benefits & Coverage Materials
HighRoads, industry leader in employer health care compliance and benefits management, today announced that it has designed the first-of-its-kind smart phone app that allows employers to provide legally-compliant Summary of Benefits & Coverage (SBC) materials to plan participants on a mobile device. A requirement of the Affordable Care Act (ACA), SBCs are clear, concise and […] »

Homecare Homebase Partners with Curaspan Health Group to Make Home-Health Operations More Efficient and Improve Care

DALLAS — Homecare Homebase™ will integrate its agency automation product with the Curaspan Health Group® Synchronized Patient Management™ solution so home-health operations run more efficiently. Curaspan is the industry leader in building secure, electronic patient-transition networks for hospitals, post-acute providers and payers to optimize care as patients move between levels of care. The Curaspan Connector™ will create a seamless user experience for Homecare Homebase users processing referrals from multiple discharge sources.

At the 2012 NAHC Financial Management Conference in Dallas this week, Homecare Homebase announced that it is incorporating the workflow automation tools and flow of data from the Curaspan Web-based ReferralCentral® application in its solution.

“This represents a powerful new resource for home-health agencies,” says Curaspan Vice President of Business Development Kevin Cook. “The Curaspan interface will provide Homecare Homebase users with single sign-on capability and eliminate the need to re-key clinical data, insurance information and patient demographics from referring hospitals.”

More than 4,300 providers in 41 states rely on Curaspan to streamline the hospital discharge process by dramatically cutting staff time spent on the phone or faxing; by securely transmitting PHI; and by enabling more timely patient placements. With the Curaspan integration, Homecare Homebase users will be able to respond more promptly to discharging facilities about patient transfers and begin transitions to the home health setting sooner, resulting in better clinical outcomes.

For more than 10 years, Homecare Homebase has been dedicated to providing home-care and hospice agencies with a best-of-breed health-care information system that is fast, flexible and customizable to their unique operational requirements. Developed by industry veterans, Homecare Homebase offers a comprehensive, integrated, cloud-based software solution that continues to stay ahead of the curve, as well as the competition, allowing customers to not only manage their business more effectively, but ultimately provide their patients with the best possible outcomes.

“Partnering with Curaspan was a logical choice,” says Tom Maxwell, chief strategy officer for Homecare Homebase. “It leads the industry in electronically connecting home-care agencies with hospitals and other participants in the continuum of care, and we knew its powerful and widely used solution was a natural fit for Homecare Homebase. This integration will not only enable customers to more easily and accurately make care transitions from hospital to post-acute settings but will further enhance their ability to provide an accurate and complete medical record for each patient, ensuring the best possible care.”

About Homecare Homebase, LLC.
Homecare Homebase, based in Dallas, Texas, is a leading health-care software company serving the technology needs of the fast-growing home care and hospice industry. Twice named Best In KLAS for Homecare by KLAS in 2010 and 2011 “Best in KLAS Awards: Software & Services,” Homecare Homebase offers a comprehensive integrated Web-based software solution to improve the clinical, operational and financial success of home care and hospice agencies. Homecare Homebase enables real-time, wireless information exchange and communication between office staff, field staff and physicians; automates workflow processes; enables accurate billing through numerous integrated checks and balances; and provides powerful management reporting via a back-office data analysis tool that ties together all agency operational information. Founded by industry veterans in 1999, every aspect of the Homecare Homebase system was developed to be user-friendly, flexible and customizable to specific agency needs. For more information, visit www.hchb.com or call toll free at 1-866-535-HCHB (4242).

About Curaspan Health Group
Curaspan Health Group connects providers, payers and suppliers via secure electronic patient-transition networks to improve outcomes as patients move between levels of care. The Web-based platform and applications that power those networks make up the Curaspan Synchronized Patient Management™ solution. Interoperable with all HIS, it’s the foundation for initiatives like ACOs, HIEs, value-based purchasing and other evolving models of care and reimbursement. With a unique combination of workflow tools, content and service, it helps improve operational efficiency and clinical care at leading health-care organizations nationwide. Founded in 1999, Curaspan headquarters are in Newton, Mass. For more information, please visit Curaspan.com.

Homecare Homebase Partners with Curaspan Health Group to Make Home-Health Operations More Efficient and Improve Care
DALLAS — Homecare Homebase™ will integrate its agency automation product with the Curaspan Health Group® Synchronized Patient Management™ solution so home-health operations run more efficiently. Curaspan is the industry leader in building secure, electronic patient-transition networks for hospitals, post-acute providers and payers to optimize care as patients move between levels of care. The Curaspan Connector™ will create a seamless […] »

AspenTech Supports Development of Emerging Engineering Leaders with Sponsorship of AIChE ScaleUp Program

AspenTech Joins Air Products, Chevron, Corning, DCP Midstream, Dow, DuPont, Merck and Others to Subsidize Student Membership and Design Innovation Awards in Leading Chemical Engineering Institute

BURLINGTON, MA — Aspen Technology, Inc. (NASDAQ: AZPN), a leading provider of software and services to the process industries, announced its support for the development of emerging engineering leaders with its sponsorship of the American Institute of Chemical Engineers (AIChE) ScaleUp Program. AspenTech joins Air Products, Chevron, Corning, DCP Midstream, Dow, DuPont, Merck and others to subsidize student membership and design innovation awards in this leading chemical engineering institute.AspenTech’s sponsorship subsidizes membership for over 15,000 students in AIChE, the world’s leading organization for chemical engineering professionals with more than 40,000 members from over 90 countries. The ScaleUp program helps chemical engineering students connect with the AIChE community to better facilitate their entrance into the process industry workforce.

AspenTech’s sponsorship also helps students participate in AIChE’s Annual Student Design Competition hosted by the chemical engineering honor society, Omega Chi Epsilon. Prizes are awarded to teams and individuals for innovative solutions to chemical engineering design challenges.

The world’s leading process manufacturers use AspenTech’s aspenONE software to optimize their engineering, manufacturing and supply chain operations. This results in improved profitability, significant cost savings and superior operating performance.

Supporting Quotes

June C. Wispelwey, Executive Director, AIChE

“AIChE is grateful to AspenTech for its generous support of ScaleUp. Promoting the technical expertise and professionalism of the next generation of chemical engineers is important not only to technology-based businesses, but to society. Meeting the challenges of sustainable energy, food, water and healthcare will require both engineering expertise and tools like those provided by AspenTech. AIChE’s student program, with AspenTech’s help, is ensuring a pipeline of well-prepared chemical engineers for our shared future.”

Manolis Kotzabasakis, Executive Vice President, Products, AspenTech

“We are pleased to sponsor AIChE’s ScaleUp program to support the development of emerging chemical engineering talent to benefit the industry and society at large. For over 30 years, AspenTech engineers and product developers have created breakthrough technologies and novel approaches to solve the most pressing chemical engineering challenges. New challenges in materials, clean energy, environment, health and safety and more await the next generation of creative thinkers and problem solvers. By working with AIChE and the ScaleUp program, we look forward to encouraging and developing the best and brightest minds to join the community of chemical engineering leaders.”

Supporting Resources

About AspenTech

AspenTech is a leading supplier of software that optimizes process manufacturing – for energy, chemicals, pharmaceuticals, engineering and construction, and other industries that manufacture and produce products from a chemical process. With integrated aspenONE solutions, process manufacturers can implement best practices for optimizing their engineering, manufacturing and supply chain operations. As a result, AspenTech customers are better able to increase capacity, improve margins, reduce costs and become more energy efficient. To see how the world’s leading process manufacturers rely on AspenTech to achieve their operational excellence goals, visit www.aspentech.com

AspenTech Supports Development of Emerging Engineering Leaders with Sponsorship of AIChE ScaleUp Program
AspenTech Joins Air Products, Chevron, Corning, DCP Midstream, Dow, DuPont, Merck and Others to Subsidize Student Membership and Design Innovation Awards in Leading Chemical Engineering Institute BURLINGTON, MA — Aspen Technology, Inc. (NASDAQ: AZPN), a leading provider of software and services to the process industries, announced its support for the development of emerging engineering leaders with its […] »

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