The Bank of New York Mellon Recognized as Change Agent Shaping the Direction of Healthcare Transaction ...( PITTSBURGH Oct. 19 /- A recent st...),Health

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.

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