Filed under IMC News, Presentations, Press Releases, Tradeshows, VETTED by on Feb 13th, 2013. Comment. 
February 13, 2013, Reston, VA –IMC, Inc., today announced that the company will be presenting it’s web-based vendor risk management solution, VETTED. at HFMA Region 5 Dixie Institute on February 27th at the Waldorf Astoria in Naples, Florida. IMC’s Vendor Risk Management Director, Tom Green, alongside Matthew J. Muhart, South Broward Hospital District, and Joseph M. Palmar, Palmar Consulting Group, will be speaking on Know They Vendor: How Well Do You? Attendees will gain a more thorough understanding of strategic approaches to mitigating risks in the vendor selection and vendor retention processes.
“Data is the critical ingredient to any successful credentialing process, but it isn’t just one source or two sources,” stated Tom Green. “By evaluating critical information from multiple sources [inside and outside of the organization], stakeholders can evaluate and investigate credentialed vendors. And, in the end, you know you will only be working with the vendors that match your risk tolerance.
By taking credentialing beyond the surface into a comprehensive and systematic vetting process, organizations can protect their bottom-line and reduce vendor risk. This session explores how a large healthcare system identified vendor fraud and is proactively taking steps to mitigate threats in the future.
One of the most crucial aspects an organization must determine in protecting its bottom line is its risk tolerance and what steps need to be taken to ensure compliance. As a preventative tool to fraud, collusion and other sophisticated schemes, IMC’s VETTED. solution provides the analysis needed to make informed decisions on an organization’s vendor population. The solution transforms critical information from the vendor portal, external databases (such as Thomson Reuters proprietary databases and Dun and Bradstreet), and internal databases such as Lawson into an analysis data source.
Attendees will be able to identify the need for risk management; determine the vendor risk tolerance level at their organization; evaluate individual vendor population through an automated process; and learn how a more thorough vetting of vendors helps protect an organizations bottom line.
As the nation’s leading membership organization for healthcare financial management executives and leaders, HFMA helps professionals meet the challenges of the modern healthcare environment through providing education, analysis, and guidance; building and supporting coalitions with other healthcare associations to ensure accurate representation of the healthcare finance profession; education on the intricacies and realities of maintaining fiscally healthy healthcare organizations; and, working to improve the healthcare industry by indentifying and bridging gaps in knowledge, best practices, and standards. HFMA aims “To be the indispensable resource for healthcare finance.”
About the Speakers
Tom Green, Director, IMC, Inc. Mr. Green is responsible for defining the direction and scope for clinical and fraud prevention e-Solutions. His most recent work has focused on helping organizations manage risk tolerance levels in their vendor population. In this role, he is responsible for leading the product design, development, marketing, and sales teams for VETTED., a vendor risk reduction e-Solution for the prevention of fraud and corruption.
Joseph M. Palmar President, Palmar Consulting Group, Inc. Palmar Consulting Group, Inc., is a boutique firm specializing in accounting, financial forensics, and outsourced CFO services. He has more than 20 years of accounting, finance, audit, and forensic experience in both public accounting and industry. At Palmar Consulting Group, Palmar and his team manage capital assets and construction projects with a value in excess of $1 billion, in addition to providing forensic accounting services. Recently Palmar received a special commendation from the FBI for his assistance in uncovering a multimillion-dollar fraud, and he is a graduate of the FBI’s citizen academy.
Matthew J. Muhart, Senior Vice President and Chief Financial Officer, South Broward Hospital District. As Chief Financial Officer, Mr. Muhart is responsible for overseeing the financial operations of the Memorial Healthcare System, which includes the finance and accounts receivable management departments, admitting and registration services, financial reporting, purchasing and materials management, financial planning, reimbursement and treasury functions. Muhart received his Bachelor of Science degree with a major in accounting from Barry University in May 1988 and is a Certified Public Accountant in the State of Texas. Mr. Muhart is a Member of the Healthcare Financial Management Association.
About HFMA
HFMA is the leading membership organization for healthcare financial management executives and leaders. With more than 39,000 members, this association is a respected thought leader on top trends and issues facing healthcare finance.
About IMC
For 30 years, IMC has provided award-winning government, business, and scientific solutions. Our flexible and scalable IT consulting combines advanced technologies and proven methodologies that focus on precise technical and business needs of our clients. Leading organizations in government, healthcare, life sciences, and commercial sectors continue to choose IMC as their trusted strategic technology partner.
VETTED., IMC’s pioneer solution in vendor risk management, goes beyond the typical credentialing to expose 3rd degree relationships and conflicts of interest in the vendor population. As a preventive control to fraud, collusion and other sophisticated schemes, VETTED. utilizes pre-emptive credentialing, forensic analysis and relationship discovery to ensure you only work with vendors that match your risk tolerance level in the end protecting your bottom line.
For further information contact:
Sushma Shenoy
Director of Corp. PR
IMC, Inc.
(703) 871-8730
Sushma@imc.com
Filed under IMC News, Press Releases by on Feb 13th, 2013. Comment.
February 13, 2013, Reston, VA – IMC, Inc., is pleased to announce its implementation of an award-winning Enterprise Content Management (ECM) solution at the National Institute of Allergy and Infectious Diseases (NIAID), part of the National Institutes of Health (NIH). The NIAID integrated solution meets functional, technical, and cost requirements while integrating with existing applications at NIAID and fulfilling important compliance requirements.
In 2007, NIAID was experiencing exponential growth of electronic documents to be shared among over 3,600 staff and contractors worldwide. NIAID’s processes were paper-based, and the influx of electronic data made it increasingly difficult to comply with a complex array of industry and government regulations, such as the Federal Drug Administration Act, Freedom of Information Act, and the Department of Defense records management standards.
In addition to its electronic data requirements, the organization required features and capabilities necessary for government agencies. NIAID had to be able to efficiently and effectively respond to the growing number of research requests, employees, and compliance standards in a high volume production environment.
It was clear that NIAID needed an ECM solution with sophisticated workflow capabilities, advanced document and records management functions, and management functions because of the significant increase in its electronic data. It also had to allow workers to communicate and collaborate across numerous locations. Furthermore, NIAID wanted a seamless integration of a sophisticated ECM solution with its existing technology, while adhering to government regulatory requirements.
To meet NIAID’s growing challenges, an OpenText ECM software platform was deployed. IMC successfully configured and integrated a state-of-the art enterprise solution for the organization using this platform. The IMC integrated solution includes advanced capabilities for document management, records management, sophisticated yet user-friendly workflow, and forms-driven data management.
A core IMC program management group enhanced the initial technical architecture and implemented new modules based on evolving requirements. Agile project teams rapidly deployed new solutions and delivered value to the business community, while maintaining a high level of quality. NIAID attributes a large part of the ongoing success of the ECM solution to IMC’s team approach, which includes a full-time program manager and a dedicated technical team that can build ECM solutions and add ECM capabilities to the transactional systems.
One project to utilize IMC’s OpenText ECM solution is the Malaria Vaccine Development Branch (MVDB). Previously, MVDB used network shared drives and a combination of Microsoft Office documents to manually manage its business process and maintained the metadata for its files in a single shared Excel document. This practice caused inefficiencies and put the organization at risk for data loss. IMC’s ECM solution created a system for MVDB that eliminated its manual document numbering and allow for distributed metadata management. It cleaned up 17,000 documents, which were re-organized using the metadata, and migrated all of the data into the new environment, including 128 Standard Operating Procedures (SOPs).
IMC’s team also designed the system’s primary interface to include a custom dashboard to integrate search, workflow, initiation, and tracking for MVDB. The dashboard has the ability to clone entire protocols (including protocol structure, sub-protocols, and SOPs), and document content is automatically updated as a protocol or SOP moves through its lifecycle. This ECM solution has helped NIAID meet its business objectives of providing secure and convenient access to MVDB’s important documents and, although Federal Drug Act (FDA) requirements are not yet formally necessary, has the ability to be scaled to support future FDA 21 CFR Part 11 compliance.
IMC’s ECM solution is also a major component of the Research Information Management System (RIMS) portal, which was developed as part of a much larger solution for managing multi-year grant and research contract awards. NIAID awards about $2 billion annually through this system.
With the help of IMC and OpenText’s ECM software, NIAID has solved numerous challenges. It has improved collaboration to overcome geographical barriers; increased productivity and efficiency with real-time access to information; experienced cost savings through integration with existing technology; improved process efficiency and quality; and is compliant with government regulatory requirements. IMC’s ECM work at NIAID has helped create a solid foundation for future documentation, collaboration, and business process improvement activities. It is a framework in which NIAID will continue to build repeatable and reusable applications that can scale throughout the Institute.
About NIAID
NIAID is part of the National Institutes of Health (NIH), which is an agency within the U.S. Department of Health and Human Services and the primary federal agency for conducting and supporting biomedical research. NIAID was established 50 years ago and is the second largest NIH institute in terms of funding. NIH’s key objectives are to prevent diseases and to investigate causes, treatments, and cures for common and rare diseases. It is made up of 27 institutes and centers, including the National Cancer Institute, the National Library of Medicine, and NIAID. NIAID focuses its research on infectious diseases like HIV/AIDS, flu, tuberculosis, and malaria, as well as tropical diseases and a number of other emerging and re-emerging infectious diseases.
About IMC
For 30 years, IMC has provided award-winning government, business, and scientific solutions. Our flexible and scalable IT consulting combines advanced technologies and proven methodologies that focus on precise technical and business needs of our clients. Leading organizations in government, healthcare, life sciences, and commercial sectors continue to choose IMC as their trusted strategic technology partner.
For further information contact:
Sushma Shenoy
Director of Corp. PR
IMC, Inc.
(703) 871-8730
Sushma@imc.com
Filed under IMC News by on Dec 13th, 2012. Comment.
IMC congratulates Jim Saadvandi, Reema Shah, Laura Imes, Robert Butler and Mahesh Pinnamaneni, on winning the NIH Director’s Merit Award in recognition of the development of the electronic NIAID TELEWORK Application and Agreement System! In addition, congratulations to the IMC team for winning the NIAID CIO award!
IMC NIAID team pictured with the NIAID CIO.
Filed under IMC News, Press Releases by on Dec 4th, 2012. Comment.
December 4th, 2012, Reston, Virginia – IMC, Inc., announced that Subject Matter Expert B. John Masters was a featured speaker at IBM’s recent Analytics Solution Center (ASC) on Tuesday, November 27th, 2012. The event focused on the Presidential Memorandum, Managing Government Records, issued in 2011, compelling federal agencies to reform and modernize records management practices.
Mr. Masters, an expert specializing in Records and Content Management, was a featured speaker at the event. Masters’ presentation included discussions on the planning and implementation of an electronic records management solution at the U.S. State Department.
Efficient records management through improved processes, people, and technology can significantly help government agencies improve information economics, better meet federal record keeping requirements, protect valuable historical records, and safeguard confidential and classified records. The seminar helped the Federal Community:
- Leverage lessons learned from what other Federal agencies, such as the US State Department, have been able to accomplish to improve their records and information management program.
- Understand what technology is available today that can help automate and instrument records retention policy, so they can manage records more efficiently and retain agency information based on its value.
- See a live demo of machine-learning technology that can be utilized to automate the categorization of records.
- Collaborate with other Federal agencies attending the seminar on best practices and techniques for achieving the target objectives set forth by the Presidential Memorandum.
B. John Masters has over 20 years of experience in the content and records management industry. During this time he has been involved in all aspects of the industry. Masters served on the Advisory Committee on Electronic Records for the N.C. State Archives, and as Records Manager for a large municipality. Projects have included requirements gathering, strategy development, design and implementation for a range of clients including the State Dept., LabCorp, Harley-Davidson, and the U.S. Air Force.
About IBM’s Analytics Solution Center (ASC):
The ASC’s mission is to help public sector agencies and the U.S. Federal Government use analytics to solve their business and mission problems:
- Understand – Attend thought leadership events and leverage collateral to understand the benefits of analytics.
- Collaborate – Participate with industry experts and Federal agencies in analytics solutions and technology demos for solving mission problems.
- Solve – Work with industry to implement realistic and innovative technical approaches. Consider and develop proofs of concept and pilot analytical solutions.
ABOUT IMC
For over 30 years, IMC has provided powerful, flexible, and scalable solutions supporting clients in achieving their mission. IMC focuses on better management of an organizations risk, data, IT applications, infrastructure and facilities to lower costs and improve efficiencies. IMC’s solutions allow clients to use information as a strategic asset and enables them to make better decisions, improve service levels, reduce risk and manage compliance. Combining leading technologies with IMC service offerings, clients can identify, consolidate, standardize and modernize their infrastructures to transform data into valuable assets. Leading organizations in government, healthcare, life sciences, and commercial sectors continue to choose IMC as their trusted strategic technology partner.
IMC’s corporate headquarters is located at 11480 Commerce Park Drive, Reston, VA 220191.
For further information contact:
Sushma Shenoy
Director of Corp. PR
IMC, Inc.
(703) 871-8730
Sushma@imc.com
Filed under IMC News, Press Releases, Solutions, VETTED by on Oct 23rd, 2012. Comment.
Reston, VA, October 22nd, 2012 – IMC, Inc. today announced that the company will be presenting a keynote spotlight video at the IBM’s upcoming Information on Demand: Think BIG conference. This year’s conference will take place at the Mandalay Bay Resort in Las Vegas, Nevada from October 21st -25th.The presentation will spotlight an intelligent investigation on mining big data to expose the potential for vendor fraud or collusion.
“IMC recently rolled out a solution built on IBM’s i2 Intelligence analysis platform including iBase and Analyst Notebook for exposing potential fraud and collusion among vendors resulting in a couple of convictions,” according to Suresh Shenoy, executive vice president, IMC. “Furthermore, the solution when integrated with IBM’s Content Management products, create a powerful application second to none in the industry!”
This risk management solution goes beyond other industry risk solutions by emphasizing information exchange and evaluation; further exposing conflicting relationships, financial risk, fictitious businesses, proximity alerts as well as behavioral red flags.
For information on IMC’s solution to mine big data, please visit www.VETTEDperiod.com to watch a video, download an information sheet and/or to request a quote.
For more information on IBM’s On Demand conference, please click here.
About IMC
Filed under IMC News, Solutions, VETTED by on Oct 17th, 2012. Comment.
Organizations that use 3rd party outsourcing to manage their vendor populations are extremely vulnerable to fraud and collusion and at risk to lose millions of dollars each year. The time has come for organizations to put a stop to high risk vendors coming through the door and take a proactive approach in safeguarding their assets against potential fraud and abuse.
A large healthcare organization and recent client, was the victim of a sophisticated collusion and kickback fraud scheme that went undetected for years and resulted in the loss of millions. Vendors and internal employees were working together to cover up the fraud by “cooking the books”, so to speak. It wasn’t until a back office employee raised a red flag after discovering discrepancies in billing and invoicing issues. After a thorough investigation, a highly intricate and convoluted fraud scheme unraveled; one that had been going on so long that it had been passed down from one generation to the next without any detection. What if this could have been stopped sooner, or prevented all together? What if an organization could safeguard themselves before vendors begin work, before a company even becomes a vendor?
This client decided it was time to take a proactive approach moving forward so as to prevent a similar situation from happening again. The first step was to ensure that all existing and new vendors were registered through a single point of entry. No longer would procurement and vendor selection be left up to different individual groups. Next, data was gathered and analyzed to allow insight into the risk profiles of each vendor by critical stakeholders within the organization. Using the data, management reviews were expedited and the organization was left with only the vendors that match their stipulated risk tolerance level.
All of this high level, automated, analysis is handled by a vendor risk management program called VETTED. The client has had this system in place for a little over six months and as a result have removed over 25 vendors from their population that were deemed “high risk”. One such vendor had worked with the client for over 23 years! It was only after their credentials were run through the program that a past fraud conviction was discovered. Two other vendors were found to be related, a husband and wife team no less, which they chose not to disclose during past registration processes.
If you aren’t utilizing proactive methods to expose the potential for vendor fraud and collusion then you are leaving yourself open to undue risk and substantial revenue loss. Take a stand and analyze your vendor population, mitigate your risk and protect your organizations assets , stakeholders and credibility.
For more information on the VETTED solution, visit www.VETTEDperiod.com.
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