Press Releases and AnnouncementsValley Oak Systems Develops Data Interface for the
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| San Ramon, CA – January 28, 2004 – Valley Oak
Systems, Inc. (VOS), a national provider of claims management software, services and
support, has completed development of a new data extraction tool that will streamline the
submission of claims data to the Public Entity Risk Institute (PERI), a non-profit
organization that oversees the PERI Data Exchange, a national database of public sector
liability and workers' compensation claims, judgments, and exposures. The PERI Data Exchange allows public entities of all types to compare themselves with their peers and learn from the experiences of other jurisdictions. The Data Exchange also helps public entities and pools improve their risk management programs, make better-informed policy decisions, and better control liability and workers' compensation costs. PERI has extended their data collection capabilities by not only partnering with Valley Oak, but also with the California Institute of Public Risk Analysis (CIPRA), the data gathering committee of the California Association of Joint Powers Authorities (CAJPA) and the Public Agency Risk Management Association (PARMA). “Since claims information is submitted voluntarily, the success of the Data Exchange rests on how many organizations participate. In the past, a significant barrier has been the complexity of submitting data compliant with the old PRDP protocols. Valley Oak’s new extraction tool will enable public entities that utilize their claims management systems, VOS Portal and iVOS™, to easily and effortlessly submit claims information to the program,” said James Smith, program manager of the PERI Data Exchange. “Since Valley Oak works with a large number of self-insured public entities, risk pools, joint power authorities (JPAs) and third-party administrators (TPAs), we expect this tool to significantly increase participation in the coming year.” “Valley Oak is excited to play an active role in the PERI Data Exchange, and is dedicated to providing the enabling technology to make this collective database effective. One of the biggest problems in public risk management is not being able to pinpoint problem areas that would benefit from loss-control and injury prevention programs. This extraction tool is another step toward our commitment to providing public entities with the information they need to improve risk management and cost containment,” said Randy Wheeler, CEO of Valley Oak Systems. “The high costs of liability and workers' compensation claims have posed a serious threat to the financial condition of many public entities. Only with increased cooperation and sharing of information can these problems begin to be resolved. Working together, CIPRA and PERI will be better equipped to collect, compile and disseminate liability, workers’ compensation and other risk management related information for the benefit of public agencies, so they can better focus on controlling costs and improving outcomes in their programs,” said Rick Buys, chairman of CIPRA. Toward this objective, CAJPA and PARMA have also called for the cooperation of all of its members, including self-insured public entities, JPAs and TPAs, to provide detailed liability and workers’ compensation claims data to CIPRA and the PERI Data Exchange. About PERI The Public Entity Risk Institute's mission is to serve public, private, and nonprofit organizations as a dynamic, forward-thinking resource for the practical enhancement of risk management. With its growing array of programs and projects, along with its grant funding, PERI is focused on: ? Supporting the development and delivery of education and training on all aspects of risk management for public, nonprofit and small business entities. ? Serving as a resource center and clearinghouse for all areas of risk management. ? Building a national database of loss information to help public officials improve the performance of their risk programs. ? Developing comparative performance measurement and best practices. ? Operating an innovative, forward-looking grants and research program in risk management, environmental impairment liability, and disaster management. ? PERI provides synergy among existing programs and organizations and serves as a catalyst in the risk management field and a vehicle for allocating greater resources to key needs in risk management. For more information, visit www.riskinstitute.org. Or contact Jim Smith, Data Exchange Program Director at jgsmith@riskinstitute.org. About CIPRA CIPRA is a data gathering committee of the California Association of Joint Powers Authorities (CAJPA). CIPRA's mission is to collect, compile and disseminate liability, workers compensation and other risk management related information for the benefit of public agencies. CIPRA represents the interests of individual public entities, joint powers authorities and private companies serving public agencies. The committee was put together and funded jointly by CAJPA and the Public Risk Managers Association (PARMA). For more information, visit www.cipra.com or contact Rick Buys, CIPRA Chairman at RBuys@CCCMRMIA.com About Valley Oak Systems, Inc. Valley Oak Systems, Inc. is a privately held corporation with headquarters in San Ramon, California. Founded in 1994, Valley Oak Systems has relied on the industry experience of its founders to provide high-quality, cost-effective solutions for the claims administration industry. Its flagship product iVOS™ is the leading browser-based, “one-system” solution that integrates claims management with bill review capabilities for multiple lines of insurance. Valley Oak Systems is dedicated to providing the highest quality software, services, and support to enable their clients to meet their goals. Valley Oak has been named for the second year in a row to the Inc. Magazine’s list of the 500 fastest growing private companies, ranked #231 in 2003 and growing 738% in the last five years. For more information, go to www.valleyoak.com, or call (925) 242-4600.
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