The Mumbai-based end-to-end business process management (BPM) solutions provider company, Accentia Technologies Ltd has entered into a strategic partnership with five leading hospitals in USA through Oak Technologies Inc, USA for their end-to-end 'Health Care Receivables Cycle Management'.
Accentia will leverage its rich domain expertise with its strong global delivery model in Health Care Receivables Cycle Management. A team of 30 dedicated professionals will be supporting these hospitals from the state-of-the art delivery centre of the company located at various parts of India. Under the agreement, it will be catering to all the requirements of their customer, namely medical transcription, medical coding and billing, medical collections, insurance claim processing and consultancy services.
Speaking to Pharmabiz, C K Sooraj, director, Accentia Technologies Ltd said, "We have signed a technology agreement with Oak Technologies for the next three years. During the first financial year of agreement, we are expecting that our total sales revenue will touch US$10 million".
Commenting on the alliance, C George, CEO of Oak Technologies, said, "under the current recessionary trend prevailing in the US, the alliance with Accentia is a revenue positive corporate development for us and going forward. We intend to shift all the delivery modules to India through Accentia's delivery centres located in India".
With the current development, Accentia has five more hospitals in their fold through Oak Technologies and plans to scale up the their delivery modules more cities in India including Chennai, Coimbatore, Hyderabad, Indore, Kolkata and Delhi to support the increasing demand coming from USA.
At present, the company has manpower of 3000 and by the end of next fiscal it has plan to double its existing strength. Accentia has its units in Mumbai, Bangalore and Thiruvananthapuram, which focuses on delivering cutting edge solutions and services to its client organizations. With 100 per cent growth rate, it has recorded Rs 33.5 crore annual turnover during 2006-07, and for the current fiscal it is targeted to touch Rs 125 crore. For the 2008- 09, company is expecting to touch Rs 250 crore.
Oak Technologies, a leader in the development and implementation of software and services for the leading hospitals and health care organizations, provides ongoing product and support services.
Talking about inorganic growth Sooraj, said, "We are in the finalisation stage with three companies from domestic and international market. By the end of current quarter we will be finalising this deal. The international acquisition deal will be from US market".