BancTec Signs Agreement with Pinnacle Financial Partners to Deliver Revenue Cycle Management for Healthcare Providers
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4435 Spring Valley Rd.
Dallas, TX, 75244
Press release date: February 25, 2008
Relationship built around BancTec's RemitCycle 360(TM) business process outsourcing (BPO) solution for end-to-end claims entry, processing and administration; offering is one of several in BancTec's growing BPO practice
DALLAS, Feb. 25 -- BancTec, a global provider of advanced, high volume document and payment processing solutions, announced that it has signed a five-year agreement with Pinnacle Financial Partners Inc. (NASDAQ:PNFP) through which Pinnacle will market BancTec's RemitCycle 360 solution as an outsourced, revenue cycle management offering to healthcare providers in the southeastern United States. Pinnacle, based in Nashville, provides a full range of banking, investment and insurance products and services for small and mid-size businesses, and in 2007 was the only bank on Fortune magazine's annual list of America's 100 Fastest-Growing Companies.
The RemitCycle 360 solution is designed for financial institutions that offer treasury management services to healthcare providers.
"The RemitCycle 360 solution will be attractive to many of our healthcare clients because of its ability to automate the capture, transmittal and access to claims information, thus reducing claim-to-payment cycle times and administrative costs," said David Sturdivant, Treasury Management Group Manager, Pinnacle Financial Partners. "We look forward to partnering with BancTec as a reseller of the RemitCycle 360 solution and believe that our clients will desire the significant efficiencies and savings it can bring to their practices."
"Pinnacle Financial Partners has a large presence in the southeast and will help to deliver the RemitCycle 360 solution to healthcare providers in the region," said Jeff Brown, vice president of BancTec's Business Process Outsourcing (BPO) practice in the Americas. "Pinnacle has already signed one client under this agreement and we look forward to working with Pinnacle to generate even more."
The RemitCycle 360 solution provides HIPAA-compliant revenue cycle management services by automating and unifying the administrative and financial events between healthcare providers, payers and banks. The comprehensive information exchange platform enables providers to greatly improve claims processing and posting, thus reducing administrative costs, shortening cycle times and increasing claim yields.
As a hosted, outsourced offering, the RemitCycle 360 solution streamlines the posting of payments by taking responsibility for claims entry, payment administration and exception processing. It incorporates BancTec's longtime, proven expertise in automating complex, high-volume and data-intensive business processes.
BancTec helps clients around the world simplify the process of managing their information. Founded in 1972, the company provides a wide range of solutions for automating complex, high-volume and data-intensive business processes for clients in the financial services, healthcare, manufacturing, government, services and utilities industries. BancTec's offerings include business solutions, business process outsourcing, and infrastructure services. With headquarters in Dallas, BancTec serves clients in 50 countries. For more information on how BancTec can help you optimize information management, visit http://www.banctec.com/ or call 1-800-BANCTEC.
About Pinnacle Financial Partners
Pinnacle Financial Partners provides a full range of banking, investment, mortgage and insurance products and services designed for small- to mid-sized businesses and their owners, real estate professionals and individuals interested in a comprehensive relationship with their financial institution. Pinnacle's comprehensive wealth management services, such as financial planning and trust, help clients increase, protect and distribute their assets. The firm also has a well-established expertise in commercial real estate.
Pinnacle is Tennessee's second-largest banking holding company with $3.8 billion in assets, 30 offices in attractive Middle Tennessee markets and two offices in Knoxville. The firm is the fastest growing of the 186 national banks chartered in 2000 and in 2007 was the only bank on Fortune magazine's annual list of America's 100 Fastest-Growing Companies. For more information, visit http://www.pnfp.com/.
Web site: http://www.banctec.com/