BancTec Announces Acquisition Of GTESS Claims Processing Business To Strengthen Healthcare Services
BancTec, a global leader in business process outsourcing (BPO) for financial transaction automation and document management, today announced that it has acquired certain assets of GTESS, a provider of claims pre-adjudication technology and services for the healthcare industry. The transaction will enable BancTec to strengthen and expand its healthcare claims processing services. Terms of the agreement were not disclosed.
“In this era of healthcare consolidation and reform, health plans and related organizations are under increasing pressure to improve efficiency – but too often are held back by complex, manual pre-adjudication processes,” said Maria L. Allen, senior vice president and president of the Americas at BancTec. “With this addition, BancTec will be able to effectively address this pain point as part of an integrated claims processing offering.”
Founded in 1990, GTESS specializes in automation technologies that drive cost and process improvements in the front-end, or pre-adjudication, portion of healthcare claims processing. This includes the automation of costly, labor-intensive pre-adjudication processes such as provider and member matching and paper claim handling, keying and processing. GTESS has enabled clients to achieve their goals for increased automation, speed and lower costs of claims processing.
Headquartered in Richardson, TX, GTESS has served a client base including more than 40 healthcare payers nationwide.
“BancTec and GTESS have shared a commitment to superior service and client satisfaction that have stood the test of time,” said Mark King, chairman of GTESS. “Like GTESS, BancTec provides flexible, focused automation and outsourcing solutions that serve the healthcare industry well. This strategic move gives clients the opportunity to significantly reduce annual expenses by lowering the cost per claim and dramatically improving accuracy, consistency and customer response.”
BancTec is a global leader in business process outsourcing (BPO), providing financial transaction automation and document management services for organizations seeking to drive efficiency in their financial and back-office processes. Headquartered in Dallas with clients in 50 countries, BancTec leverages its proprietary IP and deep expertise to provide flexible, focused solutions across the financial services, insurance, healthcare, utility, transportation and government sectors. The company operates 21 BPO centers in the United States and worldwide, utilizing a common technology platform to deliver reliability, security, and consistently high levels of performance. To learn more, visit www.banctec.com or call 1-800-BANCTEC.