Exela Renews Contract with Leading Health Organization for Payment and Claims Processing Utilizing Cloud based PCH Global
October 18 2021 - 12:34PM
Exela Technologies, Inc. (“Exela”) (NASDAQ: XELA) today announced
that it renewed its contract with a leading health organization as
a payment processing partner for explanation of benefits (EOB) for
COVID-19 claims processing. Previous release.
This renewal demonstrates Exela’s “Customer First” approach and
how Exela’s Business Process Automation solution supports complex
problems, enabling faster payment and claims processing with
Exela’s End to End technology offering.
“We are excited to continue this partnership as an extension of
our payment and claims processing business,” said Suresh Yannamani,
President, Exela. “Exela is dedicated to simplifying processes for
our current and prospective customers, and our suite of technology
platforms and industry expertise allows us to provide custom,
scalable solutions for a future-looking workplace. We are very
happy that our solution supports this Health Organization during
this unfortunate pandemic and look forward to adapting to our
customer’s needs in the future.”
Since the pandemic began, Exela’s innovative solutions to
resolve complex payment processing and claims reconciliation have
been tested. By implementing PCH Global, Exela was able to offer a
full-spectrum payment and claims processing solution, providing
expected reduction in claim denials, faster processing of payments,
and a better end customer benefit via the cloud. This significantly
reduced cycle time to reconcile the payments.
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About Exela TechnologiesExela 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 over 18,000 employees
operating in 23 countries, Exela rapidly deploys
integrated technology and operations as an end-to-end digital
journey partner
Forward-Looking StatementsCertain 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.com
Mary Beth BenjaminE: IR@exelatech.com
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