Expansion paves the way to connecting claims and correspondence from over 27,000 unique hospital systems and providers across the country
IRVING, Texas, June 08, 2021 (GLOBE NEWSWIRE) -- Exela Technologies, Inc. (“Exela” or “the Company”) (NASDAQ: XELA), a global business process automation leader, today announced extension and expansion of its partnership with one of the largest specialty care services insurance carriers in the country. This engagement leverages Exela’s powerful cloud-based digital exchange platform for the insurance industry, PCH Global, that provides a single point of access for claims management, correspondence and payments, to expand the current deployment to approximately 3,800 specialists as registered users within the customer organization using Exela’s proprietary workflow and rule engines across all aspects of the health claims spectrum including behavioral health.
As part of a broader evolution of this relationship, Exela will collaborate with the customer to ultimately connect 27,000 unique providers to PCH Global to help drive digital clean claims submission and communication to improve transparency and reduce administrative costs.
Exela continues to invest in expanding PCH Global capabilities to provide a cloud hosted solution with one of the best edit resolutions for healthcare claims. This expansion of deployment marks another milestone in PCH Global platform’s growing value proposition in healthcare to digitally connect members, providers and insurance companies for clean claims, payment transparency and digital appeals.
“Behavioral health claims are complex by nature and require a thorough understanding of levels and types of procedural codes, procedural terminology database updates and coordination of benefits. We can leverage our PCH Global patented intelligent workflow and rules engines to digitally collaborate, edit and clean claims for payment accuracy in this rapidly growing part of the healthcare ecosystem,” said Srini Murali, Exela’s President for Americas & APAC.
Exela’s strategy is to migrate existing and future healthcare relationships to its PCH Global cloud network to offer greater scalability, highest uptime and business continuity protections, as well as improved data analytics built into the platform and accessible via a self-service model. In collaboration with the customer, Exela’s Business Process Management and data scientist teams, who leverage intelligent data processing capabilities powered by neural networks, plan to help healthcare and insurance customers optimize business processes, generate deeper insights, and achieve greater process flexibility and control. Exela’s continued investments to add more features, services and support for additional insurance segments, makes PCH Global an ideal choice for insurance companies.
About Exela Technologies
Exela Technologies is a business process automation (BPA) leader, leveraging a global footprint and proprietary technology to provide digital transformation solutions enhancing quality, productivity, and end-user experience. With decades of experience operating mission-critical processes, Exela serves a growing roster of more than 4,000 customers throughout 50 countries, including over 60% of the Fortune® 100.
With foundational technologies spanning information management, workflow automation, and integrated communications, Exela’s software and services include multi-industry department solution suites addressing finance and accounting, human capital management, and legal management, as well as industry-specific solutions for banking, healthcare, insurance, and public sectors. Through cloud-enabled platforms, built on a configurable stack of automation modules, and over 18,300 employees operating in 23 countries, Exela rapidly deploys integrated technology and operations as an end-to-end digital journey partner.
Certain statements included in this press release are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as "may", "should", "would", "plan", "intend", "anticipate", "believe", "estimate", "predict", "potential", "seem", "seek", "continue", "future", "will", "expect", "outlook" or other similar words, phrases or expressions. These forward-looking statements include statements regarding our industry, future events, estimated or anticipated future results and benefits, future opportunities for Exela, and other statements that are not historical facts. These statements are based on the current expectations of Exela management and are not predictions of actual performance. These statements are subject to a number of risks and uncertainties, including without limitation those discussed under the heading "Risk Factors" in Exela's Annual Report and other securities filings. In addition, forward-looking statements provide Exela's expectations, plans or forecasts of future events and views as of the date of this communication. Exela anticipates that subsequent events and developments will cause Exela's assessments to change. These forward-looking statements should not be relied upon as representing Exela's assessments as of any date subsequent to the date of this press release.
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Source: Exela Technologies, Inc.