Healthcare

Healthcare

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 tailored solutions help you redefine your operating models and maximize 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 Healthcare Ecosystem

Download the Healthcare case study

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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 organizational efficiency through business process re-engineering and optimization, 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 specialize 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 specialized 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 center 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 optimization (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 digitization 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 analyze 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 minimize Daily Sales Outstanding and Daily Payment Outstanding.

Xchanging is a leading provider of project-based technology consulting and professional services. We customize 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 center 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.

Business Issues

Healthcare and related industries are generally seen as robust, defensive stocks in a downturn on the assumption that people will always prioritize spending on their health.

The current global financial crisis, though, is likely to pressurize healthcare budgets in many countries, even those that have pledged to maintain or increase spending.

In late 2010, for example, the UK Government gave a public commitment to increase spending on the NHS by 0.1% year-on-year throughout the lifetime of the current parliament. But there are already doubts about whether this promise is being delivered.1

More fundamentally, critics would argue that any additional funding may not necessarily benefit healthcare because of organizational bureaucracy and inefficiency.

The NHS is the largest public sector health organization in the world but most healthcare in the western economies is similarly dependent on government funding which will become increasingly pressured as tax receipts decline during the course of the economic downturn.

Other developed countries fund their healthcare through a variety of public and private insurance programs – with varying degrees of efficiency and success in terms of healthcare outcomes.

The question of how best to fund healthcare services in developed economies gains added urgency from the fact that demand for those services is likely to continue increasing.

As reported by the UN’s Department of Economic and Social Affairs Population Division, the world’s population is ageing more rapidly than ever before: “The twenty-first century will witness even more rapid population ageing than did the century just past. Worldwide, the percentage of the population aged 60 years or older increased by 2 points, from 8 to 10 per cent in the second half of the twentieth century. During the first half of the twenty-first century, that percentage is projected to increase by 11 points, to 21 per cent. By 2050, the population of the less developed regions will have the same percentage of persons aged 60 years and over as the more developed regions did in 2000."2

Older people need more healthcare. some of it long-term healthcare,  and this will need to be funded.

At the same time, lifestyle and environmental factors mean that the risks of chronic disease may be increasing throughout the general population too.

Since the 1980s, the spread of obesity has become an acute concern.  Across OECD countries, one in 2 adults is currently overweight and 1 in 6 is obese.  The number of overweight people is projected to increase by a further 1% per year for the next 10 years in some countries.3

Equally disconcerting is the continuing prevalence of cardiovascular disease, claiming an estimated 17 million lives every year. A substantial number of these deaths can be attributed to tobacco smoking, physical inactivity and unhealthy diet.4

For healthcare as an industry, the prognosis is therefore challenging.

More people will need more care for longer, and there is likely to be less money to pay for it.

Even if the healthcare sector looks more robust than most in the economic turmoil, it will still benefit significantly from working more efficiently.

Deciding which activities are key to successful health outcomes and which can be more efficiently outsourced is already providing a way forward for many.

1 http://bbc.in/cmrPuN 
2 http://bit.ly/jQJtw 
http://bit.ly/a4nHbJ 
4 http://bit.ly/2iK8QJ

Case studies

Lockton - Delivering agility in a dynamic market
Insurance Software
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Lockton - Delivering agility in a dynamic market

Insurance Software

CHALLENGE

Help a leading provider of ancillary medical services focus on strategic business growth without having to endure the pain of managing non-core back-end processes.

 

SOLUTION

01 Xchanging worked with client to identify opportunity areas for process transformation to drive efficiencies and business value creation

02 Leveraging a combination of process re-engineering and a balanced global delivery model, Xchanging was able to deliver significant cost savings to the client

 

RESULTS

1 From a non-standardised operation to a process with defined timelines

2 Cost-per-invoice reduction from UK£2.5 to UK£1.2

3 Productivity gains of 116%

Delivered productivity gains of
116%

Global Personal Technology Company - Perfect Product Testing
Technology Services
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Global Personal Technology Company - Perfect Product Testing

Technology Services

CHALLENGE

To help a renowned manufacturer of laptop PCs optimise its product testing resource

SOLUTION

01 Offer immediate and attractive cost savings from our testing laboratory in Singapore

02 Demonstrate world-class credentials in Product Assurance (PA)

03 Provide the required resources for qualifying new systems, sub-systems and applications for the customer

RESULTS

1 The customer can now rely on support from over 40 technically certified professionals spread between Japan, Singapore, Malaysia and India

2 We have consistently achieved customer satisfaction levels of more than 90% in PA services

Customer satisfaction levels of more than
90%

YTL Communications - Partners in Innovation
Technology Services
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YTL Communications - Partners in Innovation

Technology Services

Xchanging partners with YTL Communications to bring down the bill generation cycle to 1 hour from 45 hours

CHALLENGE

YTL communications aimed to be one of the key players offering 4G network within the education vertical in Malaysia. they were looking for a partner, who could bring to the table, an IT infrastructure and expertise to enable YTL to compete effectively by taking the overall offerings to a higher level, thus enabling better services to their customers.

SOLUTION

Xchanging has partnered with YTL to develop and deliver enhanced mobile internet and cloud-based hosting offerings in Malaysia. The partnership combines Xchanging’s technology, delivery expertise and international domain knowledge, with YTL communications’ award winning 4G network and market reach to deliver next-generation, mission-critical cloud solutions and platforms.

We are offering the following key services to YTL:

01 Xchanging supports YTL’s enterprise sales by providing unique solutions for the SME (Subject Matter Expert), enterprise corporate markets and government

02 Our experts manage a cross-spectrum of operational and implementation services, which encompass capacity planning and architecture, ensuring BCP (Business Continuing Planning) / DR (Data Recovery) planning and management, Mobile apps, Functional, testing, regression, load and test automation, etc

03 Xchanging created a process that enables the entire customer onboarding when the systems fail. In addition, we support YTL in the channel sales process lifecycle and in back office support for HR, flagship stores and asset management, website and campaign management, and digital marketing.

 

RESULTS

1 Duration of bill generation cycle reduced to one hour from 45 hours taken previously

2 Bill publishing time too brought down from 3-4 weeks to the same day

3 Cost of the bill reduced by 7.5%

4 Improvement in user access of web portal resulting in improved customer satisfaction. The login time has been reduced from more than 35 seconds to less than 5 seconds; and page navigation time reduced from more than 45 seconds to 5-15 seconds

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