Exela Technologies Named a Leader in NelsonHall’s Healthcare Payer BPS NEAT Vendor Evaluation

Rhea-AI Summary

Exela Technologies (NASDAQ: XELA) has been recognized as a Leader in NelsonHall’s 2021 Healthcare Payer BPS NEAT Vendor Evaluation, excelling in Overall Capability, Plan Design & Enrollment, Member Services, and Operations Transformation. The company was also rated as a High Achiever in Claims & Billing and Provider Management. Exela's PCH Global platform aims to simplify healthcare claims management through intelligent automation, ultimately lowering costs for stakeholders. This acknowledgment highlights Exela's commitment to innovative solutions in the healthcare sector.

Positive

• Recognized as a Leader in four categories by NelsonHall: Overall Capability, Plan Design & Enrollment Capability, Member Services Capability, Operations Transformation Capability.
• Rated as a High Achiever for Claims & Billing Capability and Provider Management Capability.
• PCH Global offers a cloud-hosted end-to-end healthcare claims management platform aimed at reducing costs and complexity.

Negative

• None.

IRVING, Texas, June 11, 2021 (GLOBE NEWSWIRE) -- Exela Technologies, Inc. (“Exela”) (NASDAQ: XELA) has been named a Leader in NelsonHall’s Healthcare Payer BPS NEAT Vendor Evaluation for 2021. Exela was named a Leader in four areas: Overall Capability, Plan Design & Enrollment Capability, Member Services Capability, and Operations Transformation Capability. Additionally, Exela was ranked as a High Achiever for Claims & Billing Capability and Provider Management Capability.

According to Ashley Singleton, Market Analyst at NelsonHall and author of the report, “Exela’s current comprehensive offerings will see near-term expansion in intelligent automation, ML/AI and analytics to support growing demand for enrolment and care management solutions, and continuous advancement of document processing. Exela's technology solution offerings reflect the strategy to be an equal parts vendor of operational services and digital transformation solutions. National level partnerships will also support Exela’s growth and expansion of capabilities in healthcare payer BPS effectiveness management.”

“To be recognized as an Overall Leader by NelsonHall in the Healthcare Payer BPS market is a validation of Exela’s commitment towards providing innovative solutions to our clients and the members they serve,” said Srini Murali, Exela’s President, Americas, & APAC.

Exela’s PCH Global is the industry’s first cloud-hosted end-to-end healthcare claims management platform, providing solutions in key areas such as payment integrity, complex claims processing, analytics and member and patient engagement.

“PCH Global, with built-in intelligent automation, uniquely mitigates the complexity associated with transactions in healthcare, lowering costs for the payers, providers and members. We will continue to invest in our people and technology to further innovate and make healthcare cheaper and more accessible to all,” said Mr. Murali.

This report examines how U.S. healthcare payer BPS effectiveness management services are enabling clients to use technologies like RPA, AI/ML, and cloud-based solutions to deliver improvements in volume and process quality, while reducing operational costs. The vendors mentioned in this report are increasingly focused on intelligent automation to provide operational efficiencies along with providing comprehensive support to clients for care management, wellness offerings and member behavior interventions.

About Exela Technologies

Exela 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 over 18,000 employees operating in 23 countries, Exela rapidly deploys integrated technology and operations as an end-to-end digital journey partner.

About NelsonHall

NelsonHall is the leading global analyst firm dedicated to helping organizations understand the ‘art of the possible’ in digital operations transformation. With analysts in the U.S., U.K., and Continental Europe, NelsonHall provides buy-side organizations with detailed, critical information on markets and vendors (including NEAT assessments) that helps them make fast and highly informed sourcing decisions. And for vendors, NelsonHall provides deep knowledge of market dynamics and user requirements to help them hone their go-to-market strategies. NelsonHall’s research is based on rigorous, primary research, and is widely respected for the quality, depth and insight of its analysis.

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, the estimated or anticipated future results and benefits of the Business Combination, future opportunities for the combined company, 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 most recently filed Annual Report on Form-10-K filed with the Securities and Exchange Commission. 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.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/8628f453-d3be-4bb7-b67a-f33f1dd10cc1

Investor and/or Media Contacts:

Vincent Kondaveeti

E: vincent.kondaveeti@exelatech.com

T: 929-620-1849

Mary Beth Benjamin

E: IR@exelatech.com

T: 646-277-1236

FAQ

What are Exela Technologies' recent achievements in healthcare payer services?

Exela Technologies has been named a Leader in NelsonHall’s 2021 Healthcare Payer BPS NEAT Vendor Evaluation, excelling in multiple categories.

What is PCH Global by Exela Technologies?

PCH Global is Exela's first cloud-hosted end-to-end healthcare claims management platform, designed to improve transaction efficiency and lower costs.

Which categories did Exela excel in according to NelsonHall?

Exela was recognized as a Leader in Overall Capability, Plan Design & Enrollment Capability, Member Services Capability, and Operations Transformation Capability.

What does the recognition by NelsonHall indicate for Exela Technologies?

The recognition validates Exela's innovative solutions and commitment to enhancing healthcare services for clients and members.