Globally, the healthcare industry is witnessing a boom, as there is a growing demand for quality healthcare services, aided by an increase in disposable incomes, newer disease types and the increased longevity of human life.
The industry is facing unprecedented challenges including stringent regulatory mechanisms and demand for patient-centric services. Healthcare companies have now to cope with a transforming business model while improving their delivery mechanisms, controlling operating costs and streamlining processes.
With more than 15 years of expertise in the healthcare industry, our domain-centric bespoke solutions help you redefine your operating models and maximise value from your business processes. Our capabilities span the entire spectrum of the healthcare industry--Payers, Providers, Medical Service Providers and Medical Billing companies.
We provide services across the entire healthcare spectrum from the time a patient walks in for treatment until the time the claim gets settled by the insurance company.
Xchanging Healthcare Ecosystem
Xchanging has been managing the business-critical functions of the healthcare industry for more than a decade, including insurance verification, pre-registration, charge entry, payment posting, denial management, credit balance and accounts-receivable (AR) management.
Our Health Insurance Portability and Accountability Act (HIPAA) compliant technology-enabled business processes help you improve organisational efficiency through business process re-engineering and optimisation, to support you in driving a cost-effective growth strategy.
In addition to regulatory compliance, healthcare payers are driving more focus on the patient. Xchanging’s Payer Services enables you to align your internal processes, to offer an enhanced customer experience, while at the same time keeping an eye on the cost of operations. We specialise in Agent and Broker Service, Policy Administration, Claims Management, Billing and Collection and Provider Management services.
We have unique domain knowledge in insurance, where we process policies and premiums, handle claims and process workers’ compensation in relevant geographies. We hold a strong position in the London Insurance Market where there are currently no other providers and no comparable offerings.
For Healthcare Providers, our services support the end-to-end activities in Revenue Cycle Management (RCM). Our specialised RCM methodology delivers significant business impact, with focus on improving cash flows and increasing savings.
Xchanging’s experts work with Pharmacy and Ancillary Services providers, to inject efficiency into their operations by offering BPS and call centre support for equipment and device management, patient care management and pharmacy benefit management.
Our customer service team enables our clients to offer best-in-class customer experience through our capabilities across inbound and outbound customer support in administrative support (billing, value-added services), helpdesk support (employee helpdesk, vendor support), process optimisation (IVR and call reduction through simpler solutions), and multiple channel support (phone, email and chat).
The development of healthcare insurance exchanges in countries like the US will lead not only to greater sharing and availability of data, but also hopefully drive down healthcare costs as the ability to predict future healthcare needs improve.
During the last decade, there has been significant progress in digitisation of medical records and putting more patient history online in the form of electronic databases. On the other hand, hospitals too have adopted information systems such as Electronic Medical Records (EMR), Integrated Information Management Systems and Hospital Management Systems (HMS) to improve clinical care and operations. This is adding real-time data to the electronic database. Hospitals now need to analyse this data in order to improve the quality of healthcare and identify the health risks of the population.
Xchanging’s Analytics experts can help you strike a perfect balance between offering high quality services and affordable costs.
Our Vendor Performance Scorecard can help you identify top vendors and key parameters influencing performance, and at the same help you select the right vendor for a specific task.
Through Analysis of Service Intake Requests, Xchanging can help you understand the flow of service intakes by type, cost, frequency and geography and improve profitability by negotiating a higher percentage on vendor/client contracts.
Through our First Call Resolution Analysis, you can identify and address any delays in proactively resolving customer issues, and our Revenue Cycle Analysis will help you streamline the entire RCM process and minimise Daily Sales Outstanding and Daily Payment Outstanding.
Xchanging is a leading provider of project-based technology consulting and professional services. We customise software, write the code and maintain the applications. Our Application Services extend from the management and maintenance of existing software installations, through the migration of complex legacy systems, to the creation and installation of bespoke application products.
Xchanging’s technology experts design industry-specific solutions to deliver a wide range of services across all markets. We have a dedicated team comprising industry thought-leaders to provide professional services and consultancy. We provide deep insights to customers and enable effective business decision making with our proprietary data analytics software. We deliver network and infrastructure managed services from our secure data centre facilities to ensure global connectivity 24/7/365.
Healthcare insurers can leverage our award winning products - NetSett and Xuber. Launched in 2012, Netsett is a global net settlement solution to handle the cash flow between brokers, cedents and carriers efficiently, including effective management across borders and currencies.
Xchanging’s market-leading Xuber insurance software solution is scalable to customer requirements from single office deployments to multinational companies with multiple legal entities and multi-currency functions. Underpinned by shared service architecture and a common data model, our Xuber software is quick to deliver and contains reusable common assets to reduce development costs. Our proven XPERT implementation methodology enables customers to drive even the most complex of insurance products to market three times faster than competitors.
Our portfolio of services which includes Sourcing, Spend Management, Procure to Pay (P2P), System Management and Category Management ensures that savings, policy compliance and cost-efficiency benefits are embedded in your business. Our tools for managing sourcing activities include MarketMaker4 (a leading eSourcing tool, used by our clients across the US and Europe) and Vault - a proprietary technology solution that manages procurement project workflow and enables savings to be tracked to your bottom line.
Contact our experts to know more about how we can manage your non-core processes for you, thus helping your patients’ benefit, by allowing you to focus on delivering excellent healthcare services.