The acquisition expands ECHO’s service offering as an industry-leading electronic payment platform
WESTLAKE, Ohio–(BUSINESS WIRE)–ECHO Health, Inc. (ECHO®), a market leader in insurance claim disbursements, announced today it has acquired Prelude Software, provider of PayPilot®, the disbursement-hub solution used by insurers, hospitals and governments.
The move comes as organizations such as insurers and hospitals continue to prioritize digital payment strategies to modernize the experience and reduce costs. Together, ECHO and Prelude Software will continue to drive improvements by leveraging Prelude’s disbursement platform, PayPilot, along with ECHO’s fully integrated digital payment platform.
“We continue to invest and grow with a focus on end-to-end solutions to drive enterprise-wide results while managing necessary resource allocations for implementation and execution that insurers demand,” said Tom Dean, president of ECHO. “This acquisition allows us to deliver a fully digital solution that easily integrates into their core systems,” said Dean.
“This milestone is a testament to Prelude’s more than 30-year history of delivering results with its PayPilot platform,” said Steve Root, president of Prelude Software. “PayPilot users will now have access to ECHO’s full suite of payment options along with access to the industry-leading payment network,” said Root. PayPilot’s focus on claims, policy, and AP system integration optimize results while eliminating workflow disruptions.
This acquisition brings efficiencies and flexibility to meet the needs of each individual client and improves payee choice. “We look forward to bringing additional integration capabilities to ECHO with the purchase of Prelude Software and continue as the market leader in electronic disbursements,” said Dean. “The PayPilot hub will enhance our capabilities and allow our clients to connect across multiple claim and payment systems for a seamless experience,” said Dean.
About ECHO Health, Inc.
ECHO® is a technology company focused on removing complexity and costs from payment processing. We save our customers over $1 billion per year through comprehensive management of the claim payment process and providing access to the ECHO Payment Network, the industry’s largest network of insurers and service providers. ECHO settles over 500 million claims and distributes over $100 billion in payments securely across the ECHO Payment Network annually; and proprietary ECHO technology keeps policyholders and service providers happy by ensuring payments are sent in the manner they prefer.
About Prelude Software
Prelude Software is the leading provider of enterprise-wide ePayable solutions for insurance companies and healthcare organizations. Its industry renowned PayPilot® solution extends the life and capabilities of clients’ existing infrastructure by interfacing with their source systems, helping the workflows of claims, policy, and finance to centralize, streamline, and increase the security and control of the payment process. PayPilot enables payee choice by allowing payees to select their favored payment method and providing fast, secure payments.
ECHO Health, Inc.