Navigation Links
The Bank of New York Mellon Recognized as Change Agent Shaping the Direction of Healthcare Transaction Processing

PITTSBURGH, Oct. 19 /PRNewswire/ -- A recent study by Celent, a leading financial services technology research firm, lists The Bank of New York Mellon as one of eight firms leading the way as a change agent enabling major health care providers to more efficiently handle transactions.

Celent's Healthcare Banking research service based its designation on the ability of The Bank of New York Mellon's Treasury Services division to apply its scale, technology and expertise in four distinct areas: cash, liquidity, trade and global payments to health care transaction processing. The Celent report also acknowledges The Bank of New York Mellon's delivery of both accounts receivable and payable solutions, and its extensive patient payment offerings, including front-office cashiering service.

The report refers to The Bank of New York Mellon as an early mover based on its introduction in the late 1990s of a lockbox services offering tailored to health care providers. Noting that a series of enhancements have made the lockbox offering "one of the most sophisticated in the market," the report lists several examples -- notably the development of next-generation, enhanced services for both third-party and first payer models -- as examples of how The Bank of New York Mellon continues to grow its portfolio of product and service offerings designed specifically for health care providers.

Further underscoring The Bank of New York Mellon's stature as a change agent is the company's introduction of working capital solutions for health care providers that extend beyond just the payment and remittance component of the revenue cycle. As examples, the report notes The Bank of New York Mellon's front-office cashiering system, offered through a partnership with CORE Business Technologies; a remote patient payment service offered through BNY Mellon's ClearTran operation; and a patient refund check processing service offered through its SourceNet operation.

"Over the past several years, we have aggressively pursued the development of a dedicated healthcare solution by introducing new products and services, collaborating with leading industry groups and building a specialized staff of healthcare financial experts. We're committed to being a healthcare transaction processing leader," said Greg Cicero, department head for BNY Mellon Working Capital Solutions. "We're extremely gratified that our strategic direction has resulted in our designation as an industry change agent."

The Bank of New York Mellon Treasury Services delivers high-quality performance in global payments, trade services, cash management, capital markets, foreign exchange and derivatives. It helps clients optimize cash flow, manage liquidity and make payments more efficiently around the world in more than 100 currencies. The Company is the third largest participant in CHIPS funds transfers in the U.S. and the seventh largest participant of SWIFT in the world.

The Bank of New York Mellon Corporation is a global financial services company focused on helping clients manage and service their financial assets, operating in 37 countries and serving more than 100 markets. The company is a leading provider of financial services for institutions, corporations and high-net-worth individuals, providing superior asset management and wealth management, asset servicing, issuer services, clearing services and treasury services through a worldwide client-focused team. It has more than $20 trillion in assets under custody and administration, more than $1.1 trillion in assets under management and services $11 trillion in outstanding debt. Additional information is available at

SOURCE The Bank of New York Mellon Corporation
Copyright©2007 PR Newswire.
All rights reserved

Related medicine news :

1. Time magazine has recognized efforts of two Indian doctors towards reducing infant mortality rate
2. Nurse Practitioners Are Not Recognized By Medicare
3. Scientist Recognized for Drug Addiction Research
4. Medical Center Recognized for Excellence in Bariatric Surgery
5. A young scientist recognized for biomechanics innovations
6. Distinguishable Traits of Fatal Skin Cancer Recognized
7. Bipolar Spectrum Disorder may Be Under-recognized for Spectrum Disorder: Study
8. GlaxoSmithKline - Changes Lamictal(R) Label Appearance and Packaging
9. Plasma Exchange Of No Use In Multiple Myeloma
10. Drug abuse leads to long standing changes in the brain
11. Inspiring positive life changes
Post Your Comments:
(Date:11/27/2015)... ... November 27, 2015 , ... Intellitec Solutions announced ... User Group (MSDSLUG). Recognized as Microsoft’s official group for end users of Dynamics ... software users, partners, industry experts and representatives. Intellitec Solutions’ membership status demonstrates their ...
(Date:11/27/2015)... ... November 27, 2015 , ... Keeping in ... for mental health and wellness consultation, has collaborated with a leading web-based marketplace ... knowledge gap experienced by parents and bring advice from parenting experts within their ...
(Date:11/27/2015)... ... , ... Dr. Thomas Dunlap and Dr. Patrick Coleman , ... Emergency Medicine at St., Joseph Health System’s Santa Rosa Memorial Hospital , co-hosted ... similar ways and require time-critical intervention to avoid large area heart damage and progressive ...
(Date:11/26/2015)... ... November 26, 2015 , ... Patients at Serenity Point ... come together on Thanksgiving Day to share the things that they are most ... Serenity Point YouTube channel, patients displayed what they wrote on index cards, describing ...
(Date:11/26/2015)... ... November 26, 2015 , ... ... Representative. As a franchise owner, Somu now offers travelers, value and care based ... packages, private cruise sales, as well as, cabin upgrades and special amenities such ...
Breaking Medicine News(10 mins):
(Date:11/26/2015)... UTRECHT, the Netherlands , November 26, 2015 /PRNewswire/ ...   A new combination approach blends immunotherapy ... --> A new combination approach blends immunotherapy with ... A new combination approach blends immunotherapy with ... the Netherlands has found that immunotherapy ...
(Date:11/26/2015)... 2015 Research and Markets ( ... "2016 Future Horizons and Growth Strategies in the ... Country Segment Forecasts, Competitive Intelligence, Emerging Opportunities" ... --> --> This new 247-page ... therapeutic drug monitoring market, including emerging tests, technologies, ...
(Date:11/26/2015)... 2015 Research and Markets ( ) ... Care Market by Type (Dressings, Therapy Devices, Active Wound ... Out-Patient Facility), and Geography - Global Forecast to 2020" ... --> --> The purpose of this ... of the global advanced wound care market. It involves ...
Breaking Medicine Technology: