Exela Technologies Expands PCH Global Deployment For a Large Third-Party Administrator (TPA) Adding Over 18,000 Healthcare Providers for Digital Submission of Claims and Correspondence
Exela Technologies (NASDAQ: XELA) has announced a significant expansion of its PCH Global platform, increasing its provider network by over 100%. The deployment now encompasses over 35,000 healthcare providers and hospital systems, enhancing digital transformation for a major US health insurance company's TPA division. This move aims to streamline healthcare claims processing, reduce administrative costs, and improve payment transparency. The expansion is part of Exela's strategy to migrate healthcare relationships to its cloud network, ensuring scalability and improved data analytics.
- PCH Global platform expanded to over 35,000 healthcare providers, enhancing network connectivity.
- Aim to reduce administrative costs and improve claims payment accuracy.
- Investments in cloud capabilities to support scalability and business continuity.
- None.
Latest cloud hosted PCH Global expansion increases provider network by over
IRVING, Texas, June 01, 2021 (GLOBE NEWSWIRE) -- Exela Technologies, Inc. (“Exela” or “the Company”) (NASDAQ: XELA), a global business process automation (BPA) leader, today announced expansion of PCH Global platform deployment for over 18,000 providers across the country increasing the total PCH Global registered user headcount to over 35,000 healthcare providers and hospital systems. This effort will accelerate the digital transformation efforts for a major US health insurance company’s TPA division and is part of a broader relationship built over 24 years.
Exela has continued 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.
“This deployment accelerates our customer’s digital transformation journey by connecting key constituents of the industry. PCH Global will reduce administrative costs and improve transparency by ensuring claims are paid correctly the first time” said Srini Murali, Exela’s President for Americas & APAC.
Exela’s strategy is to migrate existing and future healthcare relationships to PCH Global’s cloud network in order 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 our customer, Exela’s team of data scientists leverage intelligent data processing capabilities powered by neural networks, and Exela’s Business Process Management teams 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, make PCH Global an ideal choice for insurance companies across many segments including healthcare.
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
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 Kondaveeti
E: vincent.kondaveeti@exelatech.com
T: 929-620-1849
Mary Beth Benjamin
E: IR@exelatech.com
T: 646-277-1216
Source: Exela Technologies, Inc.
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