Exela Technologies Inc. (NASDAQ: XELA) shares dipped 4.14% after the company announced an expansion and extension of the partnership with a leading specialty care services insurance carrier in the country.
Exela to on-board more customers to PCH Global platform
The arrangement uses Exela’s potent cloud-based digital exchange site for the insurance sector, PCH Global, to expand deployment to 3,800 specialists as enrolled users within the organization. PCH Global offers a single access point for correspondence, claims management, and payment. The company will attain this through the company’s novel workflow and rule engines in all health claims spectrum aspects, including mental health.
Exela will engage with the customer to eventually connect 27,000 unique providers to PCH Global as part of a wider evolution of this partnership to help foster digital claims filing and communication to enhance transparency and save administrative costs.
Exela is expanding PCH Global’s capabilities to give a cloud-hosted solution with one of the greatest edit resolutions for healthcare claims. The PCH Global platform’s increasing value proposition in healthcare to digitally connect clients, providers, and insurers for clean claims, digital claim, and payment transparency has hit another milestone with the engagement extension.
Exela seeks to simplify complex behavioral health claims.
Srini Murali, Exela’s Americas President, said that behavioral health claims are inherently complicated. Therefore, there is a need to understand procedural code levels and types, procedural terminology database changes, and benefits coordination. He added that the rapidly growing healthcare segment, the PCH Global proprietary intelligent workflow, and rules engines could be vital to collaborate, clean digitally, and amend claims for payment accuracy.
Migrating current and future healthcare relationships to the PCH Global cloud platform is part of Exela’s strategy. This will offer enhanced scalability, business continuity protection, the highest uptime, and improved in-built data analytics.