The PNC Financial Services Group, Inc. (NYSE: PNC), today announced the acquisition of Healthcare Administration Technologies, Inc., a health care clearinghouse based in Tulsa, Okla., that supports the secure exchange of claims, remittance, enrollment, eligibility and other transactions among the different systems used by hospitals, physicians, employers, insurance companies and other health care industry participants. Terms of the agreement were not disclosed.
The acquisition is part of PNC's commitment to provide electronic solutions that simplify and expedite the exchange of information and payments between health care providers and commercial insurance companies.
"This acquisition marries the payment proficiency of PNC with a clearinghouse that is traditionally charged with exchanging massive amounts of information electronically between the health care entity that delivers care and the insurance company that reimburses for that care," said Paula Fryland, manager of PNC's national health care team.
PNC currently processes about 3.5 million health care transactions per month for more than 500 hospitals through established connectivity between hospitals, physician groups, pharmacies and their respective payers nationwide.
"The addition of a clearinghouse inserts PNC into the entire claim process from the moment a patient enters the health care system, leveraging our existing connections with health care entities and facilitating improved communication and faster exchange of information between providers and payers," said Fryland.
The PNC Financial Services Group, Inc. (www.pnc.com) is one of the nation's largest diversified financial services organizations providing retail and business banking; specialized services for corporations and government entities, including corporate banking, real estate finance and asset-based lending; wealth management; asset management and global fund services.
SOURCE: The PNC Financial Services Group, Inc.
CONTACT: Amy Vargo of The PNC Financial Services Group, Inc.,
+1-412-762-1535, or amy.vargo@pnc.com
Web site: http://www.pnc.com/
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