-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, KIDxl7FfHY3O82k0mvrrfsMl1NLJMHZWD3bSgG8bobUyQBzAB7rtyIuH3AnfCJrO AaGdOQesmLxVfCkDzaO3TA== 0001014100-03-000197.txt : 20030806 0001014100-03-000197.hdr.sgml : 20030806 20030806165926 ACCESSION NUMBER: 0001014100-03-000197 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20030805 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20030806 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CAREADVANTAGE INC CENTRAL INDEX KEY: 0000937252 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-MANAGEMENT SERVICES [8741] IRS NUMBER: 521849794 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-26168 FILM NUMBER: 03826858 BUSINESS ADDRESS: STREET 1: 485-C ROUTE 1 SOUTH STREET 2: 4TH FLOOR CITY: ISELIN STATE: NJ ZIP: 08830 BUSINESS PHONE: 9086027000 MAIL ADDRESS: STREET 1: 485-C ROUTE 1 SOUTH STREET 2: 4TH FLOOR CITY: ISELIN STATE: NJ ZIP: 08830 8-K 1 edg0162.txt CURRENT REPORT UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ------------------------------ FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of report (Date of earliest event reported) August 6, 2003 -------------- CAREADVANTAGE, INC. (Exact name of Registrant as specified in charter) Delaware 0-26168 52-1849794 (State or other jurisdiction of Commission File Number) (I.R.S. Employer incorporation or organization) Identification Number) 485 C Route 1 South Iselin, New Jersey 08830 (732) 602-7000 (Address, including zip code and telephone number, including area code, of Registrant's principal executive offices) Not Applicable (Former name or former address of Registrant, if changed since last report) INFORMATION TO BE INCLUDED IN THE REPORT Item 5. Other Events On August 6, 2003, CareAdvantage, Inc. (the "Company"), announced the commercial introduction of RPNavigator. The data-driven, risk management tool was developed by CareAdvantage, Inc. (CAI) as a next generation solution for helping health plan management and employers better understand and forecast resource consumption, risks and costs associated with their respective populations. Further information regarding the introduction of RPNavigator is set forth in the press release attached hereto as Exhibit 99.1. Item 7. Financial Statements and Exhibits (c) Exhibits 99.1 Press Release dated August 6, 2003 announcing the commercial introduction of RPNavigator. -2- SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. CAREADVANTAGE, INC. Date: August 6, 2003 By: /s/ Dennis J. Mouras --------------------------------------------- Dennis J. Mouras Chief Executive Officer and Acting Principal Financial Officer -3- EXHIBIT INDEX Exhibit No. Description - ----------- ---------- 99.1 Press Release dated August 6, 2003 announcing the commercial introduction of RPNavigator. -4- EX-99.1 3 edgex99-1.txt PRESS RELEASE EXHIBIT 99.1 ------------ PRESS RELEASE ------------- Contact: William S. Chelak Red Flannel T: 1-732-761-8998 ext. 20 Email: will@redflannelgroup.com CareAdvantage, Inc. Announces Commercial Introduction of RPNavigator Data-Driven, Risk Management Tool Provides Next Generation Solution for Forecasting Health Plan Resource Consumption, Risk and Costs Iselin, New Jersey - (August 6, 2003) - CareAdvantage, Inc. (OTC: CADV), a health care management consulting firm serving health plans, employers and other purchasers of health care services and benefits, today announced the commercial introduction of RPNavigator. The data-driven, risk management tool was developed by CareAdvantage, Inc. (CAI) as a next generation solution for helping health plan management and employers better understand and forecast resource consumption, risks and costs associated with their respective populations. Working collaboratively with clients, CAI customizes solutions specific to client needs, integrating RPNavigator into existing workflow systems and programs. Designed by end users for end users, CAI's RPNavigator transforms health plan data, such as inpatient, outpatient, and pharmacy claims and encounters, into actionable information available through an Internet-based portal. It accomplishes this through the utilization of 3M's Clinical Risk Groups (CRGs), a classfication methodology that groups members according to risk related to that individual's clinical history and demographic information. Each member is then assigned to a single clinically supported, mutually exclusive group based on single or multiple disease processes. More information about 3M Clinical Risk Groups, a product of 3M Health Information Systems, is available at www.3mhis.com or by calling 1-800-367-2447. The initial implementation phase for RPNavigator is typically achieved within four to six weeks. Thereafter, CAI's team of experienced health plan executives, medical directors and a wide range of health care and information technology subject-matter experts work with clients to provide periodic updates, ongoing data analysis and recommendations on the optimization of care management initiatives and processes. These efforts have resulted in a proven track record for helping CAI customers increase savings, improve member satisfaction and provider relations, reduce unnecessary risk and utilization while improving program performance and quality of care. In addition to these benefits, CAI and RPNavigator also offer clients the ability to: o Track population and member-related disease progression changes over time o Compare health plan sub-populations on a valid and reliable basis o Profile providers using case mix and severity-adjusted techniques o Select and prioritize members to optimize the allocation and assess the impact of care management resources, direct interventions and initiatives o Reduce client dependence on internal information technology resources Using RPNavigator as part of a comprehensive solution, CAI can more quickly and effectively work with clients to categorize, quantify and evaluate the status, related burden and progression of diseases and conditions associated with specific industries and benefit plans. As a result, CAI clients are able to more reliably measure the true impact and efficacy of their full range of care management initiatives such as case, disease and network management programs. "Due to double-digit health care cost increases for the past four years, we envisioned the marketplace's need for an open logic, clinically-based, defensible solution that furthers our clients' ability to significantly improve health care delivery and quality, while reducing costs," said Dennis J. Mouras, President and CEO of CAI. "RPNavigator provides a unique solution for helping the health care industry and corporate America determine why clinical resource consumption and costs are higher for certain health plan members and disease-related populations. This information can then be used by our customers to proactively identify and prevent gaps in care as well as manage practice pattern variations, which are among the leading drivers of increased health care costs." About CareAdvantage, Inc. (CADV) Headquartered in Iselin, New Jersey, CareAdvantage, Inc. (OTC: CADV) is a health care management consulting firm specializing in the improvement of health care delivery, quality and cost. For the past nine years, CAI has worked with many leading health plans to develop effective, affordable and timely data-driven strategies that improve case, disease and utilization, as well as operations and network management. In addition, CAI's expertise has also helped numerous clients assess the efficiency and effectiveness of their health care and benefit management initiatives. These services have empowered these clients with the information, skills and guidance necessary to facilitate future purchasing decisions and optimize managerial and administrative practices. For more information on CareAdvantage, Inc. please visit www.careadvantage.com. # # # # Certain statements made in the press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on management's current expectations and include known and unknown risks, uncertainties and other factors, many of which the Company is unable to predict or control, that may cause the Company's actual results or performance to materially differ from any future results or performance expressed or implied by such forward-looking statements. These statements involve risks and uncertainties, including without limitation, risks and uncertainties regarding the Company's substantial leverage, capital constraints, significant shareholder, liquidity and competition. These risks and uncertainties are in addition to other factors detailed from time to time in the Company's filings with the Securities and Exchange Commission. -----END PRIVACY-ENHANCED MESSAGE-----