TurboTax Maker Mulls Health Care Software
Posted on: Thursday, 13 April 2006, 00:00 CDT
By MAY WONG
SAN JOSE, Calif. - Intuit Inc., the maker of personal finance software like Quicken and TurboTax, said Wednesday it is teaming with health care companies to develop new products to help Americans manage their health care.
The Mountain View-based company said the first of the Quicken-branded products, slated for release next year, will allow users to view and organize information such as medical bills and insurance data from a variety of health care sources.
The company, working with its partners, said the software will consolidate reams of information, making it accessible also through the Internet, so users can save time and money in making their health care decisions.
Its success and relevance, however, will depend on how many partners it can attract to the initiative.
So far, several medical insurers and human resources companies, serving up to 40 million Americans, have already committed to participate in the new health care initiative launched by Intuit and Ingenix Inc., a subsidiary of Minneapolis-based UnitedHealth Group. They include: UnitedHealthcare; Optima Health, a unit of Sentara Healthcare; and Hewitt Associates Inc.
Intuit said it hopes to recruit additional health care partners in coming months so its products will become a one-stop health care resource for consumers, similar to how its TurboTax software dramatically changed the way millions of Americans file their taxes.
"We think we can revolutionize health care management in the same way, by providing automation and electronic access to data in an easy-to-understand way," said Dan Levin, a vice president at Intuit.
Shares of Intuit closed Wednesday at $53.90, up 21 cents, on the Nasdaq Stock Market.
Source: Associated Press/AP Online
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