With the cost reduction in the healthcare industry and with the recent passing of the US Healthcare Reform Bill, most are anticipating an increase in business opportunities in the sector. A few moths back they wrote an article on how outsourcing has already been helping. In the health sector, Information Technology industries in India are among one of those anticipating new businesses in the health sector. The Infosys would be one of the beneficiaries of the reform since it is already in their line of the products and an establish robust clientele. The Wipro Ltd is optimistic as this reform would be at the intersection of its strategic units of the health care and government.The outsourcing companies such as Kelly Government Solutions, it is a division of Kelly Services. It was recently awarded a $750 million contract to provide the National Institute of Health, it is an agency of the US Department of Health and Human Services, it is a wide array of the professional, scientific and technical expertise in the support of its missions.
The Genpact Limited was considering acquiring firms in the healthcare space that provides services like revenue cycle management, process optimization and revenue clinical and non-clinic supply chain management for both payers and providers. The companies who will be cashing in on the prospect, some like oDesk, a virtual outsourcer, along with GUru.com and Elance will also benefit from the bill since they have already started offering health insurance to its workers. The other Business Process Outsourcing firms like Firstsource Solution Limited which has 37 percent of its revenues derived from the healthcare sector would increase onshore presence in abid to provide clients with a comfort level and it is still other companies that would not provide direct services related to the implementation of the healthcare could still cash in like what Hewitt Associates Inc. is doing, which is providing an independent analysis of the bill and its implications to employers, individuals and insurance companies.
To be around $25-30 billion, the US market opportunity is estimated. As for the question of how large a part the Information Technology and outsourcing industries will play in providing services including the medical transcription, insurance and claims processing. The answer is still unknown. It would be largely dependent on the unique combination of the cost advantage and quality. The companies would be able to provide and even though there is a positive outlook on the future prospects, experts warn to approach this step with the caution. The companies that would want to dive into the opening that should be able to maintain quality support in the sector as well as be prepared legally as litigation cases related to healthcare in the US are frequent.
REFERENCE:
http://www.blog.infinit-o.com/healthcare-it-outsourcing-prospect/
