Hosted BPO offering delivers world class administrative and care management capabilities for the healthcare payer market
San Diego, CA, June 3, 2009: From the AHIP Institute 2009 Conference in San Diego: Patni Computer Systems, Ltd. (NYSE: PTI, BSE: PATNI COMPUT, NSE: PATNI), a leading global IT and BPO services company, today announced ‘Claims as a ServiceTM’ (CaaS), an innovative solution specifically designed for the healthcare payer market.
Available for immediate delivery, CaaS is a hosted solution powered by TriZetto’s QNXT™ core administration platform that combines their market leading software technology with Patni’s world-class IT and BPO services. The offering supports the complete claims life cycle from intake, through adjudication, to customer service including mailroom and fulfillment services, claims processing, enrollment and eligibility maintenance, member services, premium billing, reconciliation, provider maintenance and post payment audits. Any of these services can be selected on an ala carte basis enabling healthcare payers to provide administrative and care management functions at an affordable cost without compromising on quality.
The CaaS pricing includes all costs of transition from the existing system and is based on the number of members serviced on a monthly basis. The highly flexible, subscription-based structure allows a client company to support continuing growth while taking advantage of attractive price breakpoints.
According to a recent Gartner Report by Maureen O'Neil, of Feb 26th, 2009, “Healthcare Insurance BPO Market Ready to Take Off,” "CIOs of U.S. healthcare insurers are more frequently considering BPO as a strategic option... This increased interest is spurred by the need for cost savings, a desire to focus on core competencies and the diminishing pool of legacy trained talent…As healthcare insurers look for cost optimization solutions, as well as strategies to grow and transform their businesses, the BPO market in 2009 is poised to offer both. "
The current economic, regulatory and political environment is mandating strict adherence to claims processing times on the part of payers. Out-of-date systems, insufficient knowledge in current technology and limited budgets, put many healthcare providers at risk for being non-compliant. The result can be government penalties that may include a revocation of their license to transact this business.
Ganesh Iyer, Senior Vice-President for Patni’s Insurance Practice said, “Automating manual processes will create more transparency providing the visibility needed to meet regulatory requirements and manage the performance of the business. “Healthcare payers will experience faster settlements, improved reporting and more flexibility in pursuing new business opportunities while remaining compliant with emerging regulations.”
Patni has significant experience in the healthcare space across a wide range of healthcare processes and platforms, including enrollment and eligibility, claim services, provider and agent servicing and plan setup and maintenance. In addition, Patni BPO has actuarial reporting and analytical capabilities as well as support capabilities for consumer-directed health plans.
About Patni
Patni Computer Systems Limited (BSE: PATNI COMPUT, NSE: PATNI, NYSE: PTI) is a global provider of IT Services and business solutions, servicing Global 2000 clients. Patni services its clients through its industry-focused practices, including banking and financial services (BFS); Insurance and Healthcare; manufacturing, retail and distribution (MRD); life sciences; communications, media and utilities (CMU), and its technology-focused practices.
With an employee strength of over 14,500; multiple global delivery centers spread across 12 cities worldwide; 27 international offices across the Americas, Europe and Asia-Pacific; Patni has registered revenues of US$ 719 million for the year 2008.
Patni’s service offerings include application development and maintenance, enterprise application solutions, business and technology consulting, product engineering services, infrastructure management services, customer interaction services & business process outsourcing, quality assurance and engineering services.
Committed to quality, Patni adds value to its clients’ businesses through well-established and structured methodologies, tools and techniques. Patni is an ISO 9001: 2000 certified and SEI-CMMI Level 5 (V 1.2) organization, assessed enterprise wide at P-CMM Level 3. In keeping with its focus on continuous process improvements, Patni adopts Six Sigma practices as an integral part of its quality and process frameworks.
Patni leverages its vast experience spanning three decades; deep domain expertise; full-spectrum services; and suites of IP-led solutions, methodologies and frameworks; in being an effective business transformation partner to its clients.
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Safe Harbor
Certain statements in this release concerning our future growth prospects are forward-looking statements, which involve a number of risks, and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, liability for damages on our service contracts, the success of the companies in which Patni has made strategic investments, withdrawal of governmental fiscal incentives, political instability, legal restrictions on raising capital or acquiring companies outside India, and unauthorized use of our intellectual property and general economic conditions affecting our industry. The company does not undertake to update any forward-looking statement that may be made from time to time by or on behalf of the Company.