Bank of America said the deal consolidates its position as a leading provider of financial services to the healthcare industry. Terms of the transaction were not disclosed.
HealthLogic’s product suite includes capabilities such as its Expanded Data Capture Lockbox – a solution that automates insurance explanation of benefit document processing, thus reducing errors and expenses associated with paper-based insurance claims processing.
Other solutions improve healthcare providers’ revenue cycle management by automating the claims resubmission process and claims submissions to patients’ secondary insurance where appropriate.
As the number-one provider of treasury services to the healthcare industry, we are committed to providing solutions that help our clients streamline operations and keep costs down. The complex and cumbersome healthcare billing and claims process adds significantly to the overall cost of health services, said Catherine Bessant, president of global treasury services for Bank of America.
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