EXL Health Teams with REVELOHEALTH to Improve Revenue Cycle Management with Better Data, Digital Workflows

Rhea-AI Summary

EXL Launches Integrated Revenue Management Solutions

NEW YORK, June 21, 2021 – EXL (NASDAQ: EXLS) announced new Integrated Revenue Management Solutions from its EXL Health division, developed in partnership with REVELOHEALTH. This collaboration aims to enhance payment processing and revenue analytics for healthcare providers, helping them optimize revenue cycle management. Notably, the median operating margin for U.S. hospitals dropped 56% in 2020, emphasizing the need for effective financial strategies. The new solutions combine deep analytics with advanced digital workflows, aiming for more accurate and timely payment processes.

Positive

• Launch of Integrated Revenue Management Solutions to optimize revenue cycle management.
• Partnership with REVELOHEALTH enhances advanced payment processing capabilities.
• Solutions designed to improve revenue capture and working capital management.

Negative

• U.S. hospital operating margins fell 56% in 2020, indicating financial strain in the healthcare sector.

Integrated Revenue Management Solutions Uses Powerful Analytics to Optimize Payment Processing

NEW YORK, June 21, 2021 (GLOBE NEWSWIRE) -- EXL [NASDAQ: EXLS], a leading operations management and analytics company, today announced the launch of new Integrated Revenue Management Solutions from its EXL Health division. EXL Health has partnered with REVELOHEALTH, a provider of solutions dedicated to convert healthcare data into actionable information today. EXL Health and REVELOHEALTH have combined their knowledge and expertise to provide new solutions which deliver a comprehensive, data-driven payment processing and revenue analytics capability. This new capability is structured to help providers optimize revenue cycle management operating objectives and compliance.

“The median operating margin for U.S. hospitals fell 56% over the course of 2020, underscoring the massive financial and operational challenges healthcare providers are facing as we exit the pandemic,” said Sam Meckey, Executive Vice President and Head of EXL Health. “By teaming with REVELOHEALTH to pair market leading, digital workflow solutions with our robust data analytics and payment processing capabilities, we are creating the new standard for fully integrated revenue cycle management solutions.”

EXL Health’s Integrated Revenue Management Solutions are designed to help healthcare providers improve revenue capture, optimize payment processing operations and maximize and protect working capital through payment analytics and comprehensive payment processing solutions. Drawing on deep analytics and proven payment processing technologies from EXL Health, along with fully integrated digital workflow capabilities from REVELOHEALTH, the new solutions enhance payment processing so that it can be performed in a more accurate and timely fashion. At the same time, payment data is converted into valuable operational information to manage revenue cycle operations.

“The combination of operational excellence, deep data and proven expertise in revenue cycle analytics made possible through this partnership creates an incredibly powerful payment solution for providers of every type,” said JR Thomas, Chief Executive Officer, REVELOHEATH. “By working together with EXL Health, we’re able to offer a revenue cycle management solution that goes beyond efficiency and accuracy to inform a smarter, more pro-active approach to provider financial services.”

For more information on EXL Health’s Integrated Revenue Management Solutions, please click here.

About EXL
EXL (NASDAQ: EXLS) is a leading operations management and analytics company that helps our clients build and grow sustainable businesses. By orchestrating our domain expertise, data, analytics and digital technology, we look deeper to design and manage agile, customer-centric operating models to improve global operations, drive profitability, enhance customer satisfaction, increase data-driven insights, and manage risk and compliance. Headquartered in New York, EXL has approximately 31,600 professionals in locations throughout the United States, the United Kingdom, Europe, India, the Philippines, Colombia, Canada, Australia and South Africa. EXL serves customers in multiple industries including insurance, healthcare, banking and financial services, utilities, travel, transportation and logistics, media and retail, among others. For more information, visit www.exlservice.com.

About REVELOHEALTH
REVELOHEALTH was designed to level the playing field for employers and health systems that has been increasing controlled by a limited number of insurance companies in today’s healthcare system.  Led by seasoned healthcare executives from the payer, network management, healthcare system, physician delivery and outpatient service markets, REVELOHEALTH offers visibility and control of actionable data between initial claims production and the EOB/payment result hidden from view in today’s adjudication process. This diverse backdrop provides REVELOHEALTH with the experience and ability to breakdown traditional barriers that prevent payers and providers from improving the patient experience, and ultimately, the overall health of people in their local communities.  For more information, please visit www.REVELOHEALTH.net.

 

FAQ

What are EXL's new Integrated Revenue Management Solutions?

EXL's Integrated Revenue Management Solutions are designed to enhance payment processing and revenue analytics for healthcare providers.

When did EXL announce its partnership with REVELOHEALTH?

EXL announced its partnership with REVELOHEALTH on June 21, 2021.

How do EXL's new solutions help healthcare providers?

The solutions help healthcare providers optimize revenue cycle management, improve revenue capture, and enhance payment processing operations.

What financial challenges are U.S. hospitals facing?

U.S. hospitals experienced a 56% drop in median operating margins in 2020, reflecting significant financial and operational challenges.

What is the importance of analytics in EXL's solutions?

Analytics are crucial as they convert payment data into operational insights, enhancing revenue cycle management.