analytics financial technology
Published on : Oct 18, 2022
EXL [NASDAQ: EXLS], a leading data analytics and digital operations and solutions company, today announced it has been recognized as a best-in-class provider in the Aité-Novarica’s 2022 Aité Matrix: Payment Integrity in Healthcare report.
Using the Aité Matrix methodology, the report evaluates 25 firms that serve health plans and are active in the payment integrity and accuracy vendor market.
EXL’s recognition is based on its deep demonstrated expertise and its proven track record of identifying and improving payment accuracies to help streamline processes and reduce abrasion in the healthcare payments cycle. Leveraging pre- and post-pay auditing capabilities, digital transformation, and predictive and prescriptive analytics, EXL delivers a complete cost-optimization solution that provides deep insights and transparency into payment integrity programs. EXL also scored highest in the study in the category of vendor stability – a measurement that takes into account the overall financial stability of the company, including its revenue estimates, profitability, recurring revenue, growth rates and share of revenue invested in R&D.
“For two years in a row, EXL’s vendor stability and client strength has topped these component rankings compared to peers. EXL’s data analytics roots, AI orientation, nimble approach, and responsiveness to clients confirms them as a rising star,” said Inci Kaya, Strategic Advisor, Healthcare Payments at Aité-Novarica. “The company’s muscle in ingesting, sorting, organizing, and, most importantly, visualizing data is evident throughout the payment integrity and claims adjudication process. By creating a unique profile for each claim, EXL ensures that data is tagged and identified properly, allowing the claim to be used in investigations, clinical and pharma audits, and case management instances.”
The report highlights EXL’s standout client services scores, which are based on the provider’s ability to deliver on promises and value for cost. It also notes that EXL gives clients the flexibility to implement a full solution suite or modular components, including access to its EXLMINE™ solution. EXLMINE is a robust payment integrity system that improves effectiveness and efficiency by centralizing all functions needed to manage the entire claim lifecycle. EXL’s payment integrity services include advanced analytics and data mining to identify, manage and act on billing and payment anomalies; capacity services to augment staffing needs; and pre- and post-payment processes to audit and recover inaccurate payments.
“As the healthcare industry has continued to transform, payment integrity programs have become more complex. Payers and providers are seeing claim volumes and system integration needs grow year after year,” said Anita Mahon, Executive Vice President and Global Head of Healthcare at EXL. “Payers and providers need partners that can deliver cutting-edge technology and institutional expertise. We’re proud to be recognized for our best-in-class solutions, and we look forward to continuing to help the healthcare system confront their most pressing challenges.”
“Amid the industry-wide shift to value-based care and the transformation of everything from care delivery channels to the adoption of more data-driven approaches to evaluating quality of care, the healthcare system needs a highly flexible, scalable payment integrity solution that allows them to track dozens of variables at once,” said Kurt Anderson, Senior Vice President and General Manager, Payment Services at EXL. “We’re honored to be recognized by Aité-Novarica not only for the solutions we’re delivering today, but the flexibility that we’re giving our clients to continue to succeed in the future.”