Monday, January 14, 2008
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Sunday, October 7, 2007
BPO companies to look into healthcare
Indian software services BPO companies are setting their sights on the healthcare outsourcing market. Hospitals and large physician groups in the US outsource activities such as patient records, handling claims, medical policies for the government and third party administrators TPAs, so that hospitals do not have to bear these overheads.
Indian BPOs, which earlier forayed into the healthcare segment through medical transcription, which involved necessary documentation to satisfy regulatory and insurance provider requirements, are now looking at high end outsourcing contracts.
Recently, companies like Wipro, Firstsource and Apollo Health Street, the BPO arm of the Apollo Group, have acquired companies in the US to grab a lucrative share of the healthcare market.
Healthcare outsourcing deals cost US Dollar30 to 60 per hour, which is three times more than normal BPO work, Canaan Partners Alok Mittal said.
Apart from the higher dollar billing rates, the size of the healthcare outsourcing market is also huge. The size of the US hospital care market is around US Dollar700 billion and administrative costs are estimated to be around 14 per cent or US Dollar100 billion, Ananda Mukerji, managing director, Firstsource, said.
Sensing this market potential, Indian companies are positioning themselves as an end to end service provider Our Infocrossing acquisition would enable us to bring in expertise in health plan and payer management segments, Suresh Vaswani, president, Wipro technologies, said.
Explaining the strategy behind Indian companies acquisition spree, an analyst from a leading brokerage house said earlier Indian players used to get sub contracts from hospitals and TPAs, whereas now can get these contracts directly through acquisitions in the segment.
Another area of business that Indian companies are eying along with the BPO part is the infotech business, which could give them more predictability in generating future revenues.
This acquisition in the US comes with a significant IT business, Apollo Health Street, managing director, Sangita Reddy said.
Friday, September 28, 2007
TOP TEN BPO ADVISORS
1. Morgan Chambers
2. NeoIT
3. TPI
4. Equaterra
5. Alsbridge
6. Everest Group
7. Pace Harmon
8. Ovum Orbys.com
9. Quantum Plus
10. Marakon Associates
http://www.marakon.com
source :black book of outsourcing
healthcare Association
| HBMA | |
 | Founded in 1993, the Healthcare Billing & Management Association (HBMA) is the only trade association representing third-party medical billers. HBMA members process physician and other provider claims integral to the health care delivery system. |
| RBMA | |
 | The Radiology Business Management Association (RBMA), founded in 1968, is the only radiology-specific business organization in existence today. RBMA is dedicated to providing managers with information, resources, education and networking to run a successful radiology business. |
| HFMA | |
 | HFMA is the nation's leading membership organization for healthcare financial management executives and leaders. It is a respected thought leader on top trends and issues facing the healthcare industry. |
Sunday, September 16, 2007
BPO Agreement
How to Draft an Outsourcing Agreement, BPO Agreement, KPO Agreement?
Outsourcing is the contracting out of a company's non-core, non-revenue producing activities to specialists. It differs from contracting in that outsourcing is a strategic management tool that involves the restructuring of an organization around what it does best - its core competencies.
Two common types of outsourcing are Information Technology (IT) outsourcing and Business Process Outsourcing (BPO). BPO includes outsourcing related to accounting, human resources, benefits, payroll, and finance functions and activities. Knowledge Process outsourcing (KPO) includes outsourcing related to legal, paralegal, and other highly skilled activities.
A good outsourcing agreement is one which provides a comprehensive road map of the duties and obligations of both the parties - outsourcer and service provider. It minimizes complications when a dispute arise. However, many a times people neglect to pay attention while drafting an outsourcing agreement.
Before finalizing an outsourcing agreement, the terms should be thoroughly discussed and negotiated to avoid any misunderstanding at a later stage. Lawyers from all applicable jurisdictions must be consulted before finalizing any outsourcing agreement.
Before signing an Outsourcing Agreement the following must be properly addressed:
- Duties and obligations of Outsourcer
- Duties and obligations of service provider
- Security and confidentiality
- Legal compliance
- Fees and payment terms
- Proprietary rights
- Auditing rights
- Applicable law to outsourcing agreement
- Term of the Agreement
- Events of Defaults and Addressing
- Dispute Resolution Mechanism
- Time limits
- Location of Arbitration
- Number of Arbitrators
- Interim measures/Provisional Remedies
- Privacy Agreement
- Non-compete Agreement
- Confidentiality Agreement
- Rules Applicable
- Appeal & Enforcement
- Be aware of local peculiarities
Every outsourcing agreement should be modified as applicable under different circumstances. One brush should not paint all the painting. Offshore outsourcing is a legal minefield and many companies are not aware of the problems it causes. Of the 18 areas in a standard contract 15 need to be changed if the outsourcing provider is abroad.
Healthcare Bpo Solution
- Revenue cycle management
- Medical coding
- Medical billing
- Accounts receivables management
- Claims and payroll processing
- Teleradiology
- Remote diagnosis (Sleep study, ECG interpretation)
- Electronic medical records (EMR)
- Healthcare data analytics
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