Exela Technologies Expands PCH Global Deployment for One of the Largest Specialty Care Services Insurance Companies in the U....
June 08 2021 - 8:00AM
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.
Forward-Looking Statements
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.
Investor and/or Media Contacts:
Vincent
KondaveetiE: vincent.kondaveeti@exelatech.comT:
929-620-1849
Mary Beth BenjaminE: IR@exelatech.comT:
646-277-1216
Source: Exela Technologies, Inc.
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