Exela Technologies and AIDEO Technologies Enter Strategic Alliance

Rhea-AI Summary

Exela Technologies (NASDAQ: XELA) has announced a strategic alliance with AIDEO Technologies, a leading AI platform for autonomous coding in healthcare. This partnership aims to revolutionize medical billing by enhancing efficiency and accuracy. Exela's PCH Global, a healthcare platform, will expand its capabilities and customer base by integrating AIDEO's AI technology.

The collaboration aligns with Exela's initiative to incorporate generative AI across its products and services. Suresh Yannamani, CEO of Exela Technologies BPA, expressed excitement about bringing this innovative AI technology to their customers and PCH Global ecosystem. Tim Jones, Chief Revenue Officer of Aidéo Technologies, highlighted the opportunity to integrate their capabilities with PCH Global as a win for providers seeking to lower costs of processing claims and obtaining payment.

Positive

• Strategic alliance with AIDEO Technologies to enhance medical billing efficiency
• Expansion of PCH Global platform capabilities and customer base
• Integration of generative AI across Exela's products and services

Negative

• None.

Exela is a leader in healthcare technologies and Aideo is a Leading AI Platform for Autonomous Coding in Healthcare

IRVING, Texas, July 22, 2024 (GLOBE NEWSWIRE) -- Exela Technologies, Inc. (“Exela” or “the Company”) (NASDAQ: XELA, XELAP), a leader in business processing automation (“BPA”) announces a strategic alliance with AIDEO Technologies (AI Medical Coding & Billing Automation Revenue Cycle Management - aidéo-tech (aideo-tech.com), a leading AI platform specializing in autonomous coding for healthcare. This collaboration is poised to revolutionize the medical billing landscape by enhancing efficiency and accuracy across the board. Exela’s strategic initiative incorporates generative AI across its products and services, complementing other AI-driven efforts.

PCH Global, Exela’s industry leading Healthcare platform, continues to expand its capabilities and grow its customer base by providing solutions for providers and payers. This strategic partnership will further enhance value proposition for PCH Global customers by providing feature-rich, leading-edge solutions.

"We are excited to bring this innovative AI technology to our customers as well as our PCH Global ecosystem to Aideo customers," said Suresh Yannamani, CEO of Exela Technologies BPA.

“Medical coding is the lynch pin of the healthcare revenue cycle,” said Tim Jones, Chief Revenue Officer of Aidéo Technologies. “The opportunity to integrate our capabilities both up and downstream with PCH Global is a win for providers seeking to lower costs of processing claims and obtaining payment.”

For more information about this partnership and how it will benefit your coding and billing operations, please click on the link PCH Health | Providers, Payers & Members

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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 13,600 employees operating in 20 countries, Exela rapidly deploys integrated technology and operations as an end-to-end digital journey partner

About AIDEO Technologies
Aidéo Technologies is a leading provider of AI-powered medical coding productivity solutions to the revenue cycle management industry. Creating scalable and repeatable coding efficiency, Aidéo Technologies’ Gemini Solution Suite empowers and complements medical coders with workflow efficiencies, artificial intelligence, and supplemental coding services. The Gemini Coder Platform™, Gemini AutoCode™, and Gemini Full Service™ solutions are optimized to work together for maximum impact in creating efficiency and improving accuracy through workflow improvements and autonomous and predictive coding.

Forward-Looking Statements
Certain 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, Media and Industry Contacts:

Vincent Kondaveeti
E: vincent.kondaveeti@exelatech.com
E: IR@exelatech.com
Industry research contact: Gaurav.Jamdar@Exelatech.com

FAQ

What is the purpose of Exela Technologies' strategic alliance with AIDEO Technologies?

The strategic alliance between Exela Technologies (NASDAQ: XELA) and AIDEO Technologies aims to revolutionize the medical billing landscape by enhancing efficiency and accuracy in healthcare coding and billing operations.

How will the partnership benefit Exela's PCH Global platform?

The partnership will enhance PCH Global's value proposition by providing feature-rich, leading-edge solutions to its customers, expanding its capabilities, and growing its customer base in the healthcare sector.

What technology is Exela Technologies incorporating across its products and services?

Exela Technologies is incorporating generative AI across its products and services, complementing other AI-driven efforts to improve efficiency and accuracy in business processing automation.