June 23, 2009 | Palo Alto, California: MetricStream Inc., the market leader in enterprise-wide Governance, Risk, Compliance (GRC) and Quality Management solutions today announced that BlueCross BlueShield of Tennessee (BCBST), an independent, not-for-profit licensee of the BlueCross Blue Shield Association, has selected the MetricStream platform for deploying an integrated software solution for a broad range of business processes including governance, compliance, quality management, risk management, and corrective actions. The solution will enable BCBST to effectively meet obligations with various industry standards, government regulations and internal policies and procedures.

Based in Chattanooga, Tennessee, BCBST provides cost-effective, quality healthcare benefits to approximately 3 million members. BCBST and its subsidiaries are committed to conducting business with ethics, integrity and in accordance with federal, state and local laws and regulations.  The enterprise-wide program to automate and streamline critical GRC and Quality Management processes will facilitate information management, collaboration, communication and oversight necessary for meeting this commitment.

“Healthcare insurance providers are pressing forward with a number of reforms and initiating programs to improve quality of operations, ensure compliance with industry regulations and manage risk exposures,” said Gaurav Kapoor, CFO and General Manager at MetricStream. “MetricStream’s superior solution offerings provide a single point of reference for a number of complex and entwined processes and synergize risk, compliance, internal audit and quality management for greater visibility lowers costs and higher efficiency.”

About MetricStream

MetricStream is the independent market leader in enterprise cloud applications for governance, risk, compliance (GRC), and quality management. MetricStream apps and software solutions improve business performance by strengthening risk management, corporate governance, regulatory compliance, audit management, vendor governance, and quality management for organizations across industries, including banking and financial services, health care, life sciences, energy and utilities, consumer brands, government, technology, and manufacturing. MetricStream is headquartered in Palo Alto, California, with an operations and GRC innovation center in Bengaluru, India, and sales and operations support in 12 other cities globally.(www.metricstream.com).

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