ECHO

Payment processing and accounts payable automation for insurers and payers

Insurtech Infrastructure Enterprise Bootstrapped

Overview

ECHO Health, Inc. is a leading insurance technology company specializing in payment processing and accounts payable automation for health plans, dental plans, TPAs, property and casualty insurers, and Medicare Part D sponsors. Founded in 1997 and headquartered in Westlake, Ohio, ECHO has built a platform that securely distributes more than USD 180 billion in payments annually while saving customers over USD 1 billion per year through payment automation and efficiency.

With over 25 years of experience solving complex payment challenges for insurers and payers, ECHO operates a network of more than 1.6 million unique payees and processes 300 million+ claims and USD 60 billion+ in payments annually. The company connects health plans and P&C insurers to a single digital payment network spanning providers, vendors, and plan members.

ECHO positions its offering as "Payments Simplified" -- removing complexity and costs from payment processing for the insurance industry through a unified platform supporting EFT, virtual card, check, and full remittance data.

Products & Services

ECHO for Healthcare

End-to-end payment solution for health plans, dental plans, and TPAs covering all payment and remittance activities. Integrates with leading payer platforms including HealthEdge HealthRules Payer, PLEXIS Healthcare Systems, and QualChoice Health Insurance.

Key Features

Unified payment and remittance processing for all payee types
Native integrations with healthcare payer administration platforms
Full EFT, virtual card, and check payment modalities

Target Users: Health plans, dental plans, TPAs

ECHO for Property and Casualty

Digital payment solution for claims payment distribution to providers for home, auto, and workers compensation insurers. Supports both B2B and B2C payment modalities with full remittance data.

Key Features

Claims payment distribution across provider and claimant networks
B2B and B2C payment modality support
Full remittance data for audit and reconciliation

Target Users: P&C insurers, specialty carriers

ECHO for Accounts Payable

Accounts payable automation solution eliminating manual payment workflows and enabling business-to-business payments across payer organizations.

Key Features

Elimination of manual payment processing workflows
B2B payment support for payer operational expenses
Integration with existing payer financial systems

Target Users: Health plans, TPAs, insurers with AP automation needs

Simplicity Platform

Turnkey enrollment and payment experience platform that streamlines digital payment adoption and user experience for plan members and providers.

Target Users: Health plans seeking to improve member and provider payment onboarding

SimplicityRx

CMS M3P compliance solution for Medicare Part D sponsors, expanded to support Medicare Prescription Payment Plans.

Target Users: Medicare Part D plan sponsors and PBMs

Premium Payment Manager

ICHRA administration payment automation for Individual Coverage HRA administrators and brokers.

Target Users: ICHRA administrators, brokers

Platform Components

Key Features

ECHO Guard: Fraud protection and payment integrity module
ECHO PayLogic: Payment routing and logic engine
ECHO PayPilot Connect: Integration and connectivity solution
ECHO Payment Network: 1.6M+ provider, vendor, and payee connections

At a Glance

Founded: 1997
Headquarters: Westlake, Ohio, USA
Employees: 501-1000
Funding: Bootstrapped

Category & Focus

Category: Insurtech Infrastructure
Subcategories: Payment Processing Accounts Payable Automation EFT Compliance Payments
Insurance Verticals: Health P&C Personal P&C Commercial Workers Compensation
Target Customers: Carriers, TPAs, MGAs/MGUs