EXL recognized as a best-in-class provider in the 2022 Aité Matrix: Payment Integrity in HealthcareTuesday, October 18, 2022
New York City, NY (October 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.”
EXL (NASDAQ: EXLS) is a leading data analytics and digital operations and solutions company that partners with clients to improve business outcomes and unlock growth. By bringing together deep domain expertise with robust data, powerful analytics, cloud, artificial intelligence (“AI”) and machine learning (“ML”), we create agile, scalable solutions and execute complex operations for the world’s leading corporations in industries including insurance, healthcare, banking and financial services, media, and retail, among others. Focused on driving faster decision-making and transforming operating models, EXL was founded on the core values of innovation, collaboration, excellence, integrity and respect. Headquartered in New York, our team is over 40,600 strong, with more than 50 offices spanning six continents. For more information, visit www.exlservice.com.
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This press release contains forward-looking statements. You should not place undue reliance on those statements because they are subject to numerous uncertainties and factors relating to EXL's operations and business environment, all of which are difficult to predict and many of which are beyond EXL’s control. Forward-looking statements include information concerning EXL’s possible or assumed future results of operations, including descriptions of its business strategy. These statements may include words such as “may,” “will,” “should,” “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate” or similar expressions. These statements are based on assumptions that we have made in light of management's experience in the industry as well as its perceptions of historical trends, current conditions, expected future developments and other factors it believes are appropriate under the circumstances. You should understand that these statements are not guarantees of performance or results. They involve known and unknown risks, uncertainties and assumptions. Although EXL believes that these forward-looking statements are based on reasonable assumptions, you should be aware that many factors could affect EXL’s actual financial results or results of operations and could cause actual results to differ materially from those in the forward-looking statements. These factors, which include our ability to successfully close and integrate strategic acquisitions, our ability to respond to and manage public health crises, including the outbreak and continued effects of COVID-19 pandemic, are discussed in more detail in EXL’s filings with the Securities and Exchange Commission, including EXL’s Quarterly Report on Form 10-Q and Annual Report on Form 10-K. These risks could cause actual results to differ materially from those implied by forward-looking statements in this release. You should keep in mind that any forward-looking statement made herein, or elsewhere, speaks only as of the date on which it is made. New risks and uncertainties come up from time to time, and it is impossible to predict these events or how they may affect EXL. EXL has no obligation to update any forward-looking statements after the date hereof, except as required by federal securities laws.
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