Shulou(Shulou.com)05/31 Report--

Shoreview-Minnesota-Today,Deluxe (NYSE: DLX), a subsidiary of trusted business technology companies, announced the launch of the Healthcare payment Exchange (MPX) platform, a joint venture with healthcare payment provider ECHO Health.

"High standards and inefficiency in payment for health services, as well as a lack of payment options for providers, have become the norm."

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The joint venture has established a new cloud-based digital payment process to address unmet needs in medical payments: the challenge for medical payers is to provide effective electronic payments to providers they pay infrequently. According to the 2018 CAQH index, these payments account for about 40 per cent of all medical claims payments and 88 per cent of dental claims payments.

"the cooperation between luxury payments and ECHO has brought about a new medical payment method that addresses the key challenges facing payers and providers," said Michael Reed, general manager of luxury payments. "the joint solution uses patented technology to overcome the challenge of business process disruption when migrating digital payments and flexibly meet the different needs of payers and providers."

It is difficult for providers to establish and maintain electronic contact with payers who rarely receive payments. As a result, payers who make these payments are hampered by the high cost and inefficiency of delivering paper cheques. The MPX solution supported by Deluxe uses Deluxe Edition and ECHO's best-in-class payment platform to solve this problem by digitizing the payer's plain paper cheques and sending them electronically to healthcare providers in an easy-to-handle format.

The new joint venture solution enables healthcare payers to transition from paper checks to digital payments, resulting in significant savings by improving speed and efficiency without the need for large-scale infrastructure investment or changes in payment processes. Payers upload check batch files, and MPX digitizes remittances while sending electronic payments and payment instructions (EOP) through its fast-growing electronic network, which serves more than 160000 service providers in 50, 000 locations.

Now, health care providers who accept payments can choose a variety of ways to choose the way they want to pay. The supplier will receive an electronic notice of payment and can choose to make payment by digital check, Visa business card or ACH payment.

"Medical service payments are generally characterized by high costs, low efficiency and lack of payment options for suppliers," said ECHO Health chairman and Bill Davis. Working with luxury enables us to jointly introduce solutions to the market, which will bring immediate benefits to insurance companies and providers and help reduce health care costs. For payers who use MPX, they can get the benefits of electronic payment, and providers can now achieve the speed of electronic payment with simple checks. "

About luxury goods

Luxury is a trusted business technology company dedicated to promoting business and making the community prosperous. Our solutions can help companies pay and get paid, accelerate growth and improve operational efficiency. For more than 100 years, we have been helping companies succeed at all stages of the lifecycle from startup to maturity. Our unparalleled global scale supports about 4.5 million small businesses, more than 4000 financial institutions and hundreds of the world's largest consumer brands, making luxury the most trusted business partner for our customers.

About Echo Health

ECHO Health,Inc. Is a leading provider of electronic medical payment solutions. ECHO has processed 200 million claims and pays more than $40 billion a year to the industry's leading payer providers and members. ECHO was founded in 1997 as a private company based in West Lake, Ohio.

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