Exela Named Leader in Everest Group’s Medical Coding Operations PEAK Matrix® Assessment 2023

Rhea-AI Summary

Exela Technologies, Inc. (NASDAQ: XELA, XELAP) has been recognized as a ‘Leader’ in Everest Group's inaugural Medical Coding Operations PEAK Matrix® Assessment 2023. This recognition indicates Exela's strong positioning among 22 assessed service providers, highlighting its extensive client base, advanced AI/ML coding tools, and diversified delivery capabilities. As demand for medical coders rises due to talent shortages in healthcare, Exela's innovative solutions have positioned it favorably in the market, reinforcing its commitment to delivering high-quality healthcare services.

Positive

• Recognized as a ‘Leader’ in Everest Group’s Medical Coding Operations PEAK Matrix® Assessment 2023.
• Strong positioning among 22 assessed operations service providers.

Negative

• None.

IRVING, Texas, Oct. 25, 2022 (GLOBE NEWSWIRE) -- Exela Technologies, Inc. (“Exela”) (NASDAQ: XELA, XELAP), a leading provider of Business Process Automation solutions, today announced that it has been recognized as a ‘Leader’ in the first edition of Everest Group’s Medical Coding Operations – PEAK Matrix^® Assessment 2023. This report provides a detailed analysis and assessment of 22 operations service providers featured on the Everest Group’s Medical Coding Operations PEAK Matrix^® Assessment. The report provides the relative positioning and analysis of providers based on the evaluation of their strengths and limitations.

“Demand for medical coders is in on the uptick as healthcare providers in the United States struggle with talent shortages. In fact, specialty-originated medical coding is one of the key areas where health systems and other providers are looking for support from third-party vendors,” said Ankur Verma, Practice Director at Everest Group. "Exela Technologies capitalized on this opportunity through a combination of domain and technology investments. Exela’s large client base coding offerings catering to multiple specialties, including complex inpatient coding, proprietary AI/ML coding tools, and diversified delivery capabilities propelled the firm to be a Leader on Everest Group’s Medical Coding Operations PEAK Matrix^® Assessment 2023.”

“We are pleased to learn that the Everest Group has named Exela as a LEADER in the inaugural publication of their Medical Coding Operations report,” said Kevin Lathrop, Exela’s President of Healthcare Services. “Our LexiCode division has served the needs of our customers for more than 40 years and is a recognized leader in the market. Our domestic and global operations teams deliver unparalleled quality and drive significant value to those health organizations who put their trust in us.”

Everest Group is an industry-leading consulting and research firm focused on strategic IT, business process services, and engineering. The ‘Leaders’ in Everest Group’s PEAK Matrix assessments are those companies that demonstrate exceptional innovation and transition management in their engagements while enhancing technological capabilities through proprietary solutions, partnerships or acquisition.

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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. Utilizing foundational technologies spanning information management, workflow automation, and integrated communications, Exela’s software and services include multi-industry, departmental solution suites addressing finance and accounting, human capital management, and legal management, as well as industry-specific solutions for banking, healthcare, insurance, and the public sector. Through cloud-enabled platforms, built on a configurable stack of automation modules, and approximately 17,000 employees operating in 21 countries, Exela rapidly deploys integrated technology and operations as an end-to-end digital journey partner.

Investor and/or Media Contacts:

Vincent Kondaveeti

E: vincent.kondaveeti@exelatech.com

Mary Beth Benjamin

E: IR@exelatech.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/240204cd-8324-44cd-abd2-1f34bad9f424

 

FAQ

What does Exela Technologies' recognition as a leader mean in the Medical Coding Operations PEAK Matrix® Assessment 2023?

Exela Technologies was named a leader due to its innovative solutions, large client base, and advanced AI/ML coding tools.

How many service providers were assessed in the Everest Group's Medical Coding Operations report?

22 operations service providers were evaluated in the report.

What factors contributed to Exela Technologies being named a leader in the Medical Coding sector?

Exela's combination of domain expertise, technology investments, and diversified delivery capabilities contributed to its leadership status.

When was the announcement of Exela Technologies being recognized made?

The announcement was made on October 25, 2022.

What are the stock symbols for Exela Technologies?

The stock symbols for Exela Technologies are XELA, XELAW, and XELAP.