Medical and healthcare Business Process Outsourcing (BPO) is emerging as a key growth engine, with the healthcare industry the world over seeking to outsource some of their important services. In a recent forecast, consulting major Gartner said that medical BPO would make a significant impact in the next few years. Dataquest, a unit of Gartner, said in a recent finding that, "By 2007, about 60 per cent of all healthcare organizations will spend more on external IT support, consulting and outsourcing services than on internal staff."
The CII-McKinsey report, slated to be released later this month, too sees a big opportunity for medical BP operators. Speakers at the just concluded Technology Summit in Hyderabad highlighted the growing potential of medical BPO.
According to D V S Raju, Chairman and Managing Director, VisualSoft Technologies, "One of our primary focus areas in BPO is healthcare and insurance. There is tremendous potential in medical BPO." Eyeing the huge potential in the BPO segment, the IT solutions and services major is going to set up a BPO centre in Visakhapatnam.
Wipro has already made a foray into this area by launching hospital information systems, clinical and lab information systems and a web-based Health Insurance Portability and Accountability Act (HIPAA) compliant systems. The company's new venture, Wipro Healthcare and Life Sciences, has got big plans to make a dent into the $25 billion market opportunity, which is growing at 20 per cent annually,
Leading corporate hospitals group Apollo has identified medical BPO as a good business opportunity. The group has tied up with Health Services America, a US-based hospitals chain, and Medstaff International, an insurance company. The US companies would outsource some key record maintenance needs to Apollo International Health Services, an Apollo group company set up to take care of its BPO activity.