WESTLAKE, Ohio--(BUSINESS WIRE)--ECHO Health, Inc. (ECHO), a leading provider of electronic healthcare payment solutions, has added a new patent to their portfolio of proprietary health insurance payment processing technology. The company, which develops and provides payment processing services and solutions to healthcare payers of all sizes, today announced that the United States Patent and Trademark Office granted US Patent 10,599,813 to ECHO.
This patent covers health insurance payment methods and systems, including the generation and delivery of a consolidated payment and related translated explanation of benefits (EOBs) to a medical service provider. ECHO’s innovative systems consolidate individual medical provider and vendor payments, including an aggregation of health insurance payments covering multiple claims into a single ERISA and HIPAA compliant format, remits electronic payments and provides an explanation of payment details to providers.
“The granting of this patent further validates our mission to develop innovative technology that drives business improvement for our clients and their groups,” said William Davis, Chairman and Chief Executive Officer of ECHO. “With the issuance of this patent, ECHO and its trading partners remain the only healthcare payment processors that can generate and deliver a consolidated payment and translated EOB to a medical service provider. This key functionality, combined with other unique capabilities, offers a substantial competitive advantage to our channel partners and customers enabling them to deliver the most efficient, cost-effective provider payments.”
About ECHO Health, Inc.
ECHO Health, Inc. is the leading provider of electronic healthcare payment solutions. ECHO processes more than 200 million claims and pays more than $40 billion annually to providers and members from industry-leading payers. Founded in 1997, ECHO is a privately held company located in Westlake, Ohio. For more information, please visit www.echohealthinc.com or call 440.835.3511, ext. 118.
