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Exela Recognized as a Major Player in IDC MarketScape for U.S. RCM Service Solutions 2022-2023 Vendor Assessment

IRVING, Texas, Dec. 23, 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 ‘Major Player’ in the IDC MarketScape for U.S. RCM Service Solutions 2022-2023 Vendor Assessment.

IDC MarketScape for U.S. RCM Service Solutions 2022-2023 Vendor AssessmentSource: IDC, 2022

Revenue Cycle Management (RCM) is the process by which a health system bills for services and generates revenue. RCM typically covers the entire patient journey, from a patient’s first appointment all the way through to the payor’s acceptance of final payment.

This IDC MarketScape assesses RCM service solutions currently available in the U.S. market. This study aims to provide technology buyers with insight into the strategies, capabilities, and criteria healthcare organizations should consider when selecting an RCM service solution.

The report calls out Exela’s strength in Delivery Models and Workflow Automation. It describes the combination of robust end-to-end RCM capabilities, subject matter expertise, and innovation as a key strength that has allowed Exela Technologies to consistently deliver its services for over 30 years and with high customer satisfaction.

“We are pleased to announce that IDC has named Exela as a MAJOR PLAYER in the IDC MarketScape for U.S. RCM Service,” said Kevin Lathrop, Exela’s President of Healthcare Services. “Our PCH Global solution provides a connected ecosystem to improve action on claims and collection rates while reducing cost-to-collect and bad-debt write-offs. Exela works as a trusted partner to health organizations to minimize inherent complexity and eliminate administrative burden while delivering unparalleled quality and significant value.”

The complete report can be downloaded here.

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 16,500 employees operating in 21 countries, Exela rapidly deploys integrated technology and operations as an end-to-end digital journey partner.

About IDC

International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology, telecommunications and consumer technology markets. IDC helps IT professionals, business executives, and the investment community make fact-based decisions on technology purchases and business strategy. For 50 years, IDC has provided strategic insights to help our clients achieve their key business objectives. IDC is a subsidiary of IDG, the world's leading technology media, research, and events company.

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The information posted on the Company's website and/or via its social media accounts may be deemed material to investors. Accordingly, investors, media and others interested in the Company should monitor the Company's website and its social media accounts in addition to the Company's press releases, SEC filings and public conference calls and webcasts.

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/2d218052-c2ad-48f1-aa82-91a052cce348

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IDC MarketScape for U.S. RCM Service Solutions 2022-2023 Vendor Assessment

IDC MarketScape for U.S. RCM Service Solutions 2022-2023 Vendor Assessment

Source: Exela Technologies, Inc.