Navigation Links
The Bank of New York Mellon Recognized as Change Agent Shaping the Direction of Healthcare Transaction Processing
Date:10/19/2007

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 bnymellon.com.


'/>"/>
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:
*Name:
*Comment:
*Email:
(Date:6/28/2017)... ... June 28, 2017 , ... Hayes, Inc., a leading ... the guest speaker lineup* for its second annual Client Symposium. Joining the symposium ... Dr. Keith Fernandez of Privia Health; and Lisa Tourville of Anthem. , ...
(Date:6/28/2017)... ... ... American Farmer proudly announces the participation of Pure Line Seeds, Inc (Pure Line ... fourth quarter 2017. American Farmer airs Tuesdays at 8:30aET on RFD-TV. , Founded in ... demand grew, the small company located in Moscow, Idaho extended its sales from Northern ...
(Date:6/28/2017)... ... June 28, 2017 , ... Designers Insurance ... communities in northern Virginia and DC, is announcing a cooperative charity event in ... Alzheimer’s and other disorders that lead to memory impairment. , The Insight Memory ...
(Date:6/27/2017)... ... ... Harbour , a DAO (decentralized autonomous organization) that harnesses the wisdom of ... technical specifications . , 2017 has seen an explosion of token launches by blockchain ... will garner the greatest ROI. Dean Eigenmann, Co-founder and CEO of Harbour, said, “We ...
(Date:6/27/2017)... (PRWEB) , ... June 27, 2017 , ... A January ... been projected to reach a staggering $6.81 billion by the year 2024 according to ... at a faster rate than those made from titanium. Los Angeles area clinic Beverly ...
Breaking Medicine News(10 mins):
(Date:6/12/2017)... Kineta, Inc., a biotechnology company focused on the development of ... R&D and Head of Virology Kristin Bedard has been invited ... and Beyond meeting sponsored by Life Science Washington.  This ... AM PDT at the Agora Conference Center in ... be joined by other leaders in infectious disease research and ...
(Date:6/9/2017)... , June 9, 2017 More than ... further effort to help spread lessons learned from clinical ... International Diabetes Federation (IDF) and Eli Lilly and Company ... the second phase of the Bringing Research in Diabetes ... their commitment to helping people with diabetes effectively manage ...
(Date:6/7/2017)... , June 7, 2017 Endo International ... June 7, 2017, the Hon. Joseph R. Goodwin ... of West Virginia , entered a ... Inc. Pelvic Repair System Products Liability Litigation (the "MDL") ... MDL cases to provide expert disclosures on specific causation ...
Breaking Medicine Technology: