Data Revolution in Healthcare and Lifesciences Industry

16may,2008 The Indian share of BPO revenues from the offshoring of revenue cycle management (RCM) services is estimated at USD 125 million for the year 2006. This report Research the total revenues from this segment to reach USD 410 million by 2011. Two of the “core” processes in revenue cycle management (RCM) services are medical coding and billing. In this report, we have discussed billing and coding within the context of RCM services. The emphasis (and estimates) for this report relate to medical coding and billing. Medical transcription, which is another “specialized” service not offered by “generic” BPOs has not been covered in this report, and revenue and manpower estimates exclude medical transcription. The RCM industry in India is still at a nascent stage. While there are certain large vendors offering end-to-end RCM services such as Perot Systems, Apollo Health Street, Zavata and Ajuba there are few others focused on offering certain specific services such as medical coding, p...

SIZE Healthcare delivery is one of the largest service-sector industries in India Estimated revenue of about US$30 billion (FY 2006) Industry growth at over 12% p.a. in the past four years Large domestic market complemented by the inflow of medical tourists Medical tourists have increased almost twenty-fold from 10,000 in 2000 to about 1,80,000–2,00,000 in 2006 STRUCTURE The industry is fragmented with a large number of independent, privately-run hospital and healthcare centres Private healthcare providers account for almost 70%-80% of the total spend Government sector and corporate employers account for the rest Private sector corporate entities like Apollo Hospitals, Wockhardt Hospitals and Fortis Healthcare have aggressive expansion plans Indian hospitals are gaining reputation globally as ‘quality’ service providers Many Indian hospitals have secured accreditation from the British Standards Institute and Joint Commission on Accreditation of Healthcare Organisations NHS, UK has indi...