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WORLD CLASS FROM INDIA – Convergence of technology services to solve business problems.
WORLD CLASS FROM INDIA – Convergence of technology services to solve business problems.

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By the numbers alone, India’s “techade” is well underway, with the nation’s technology sector revenues spiking past $200 billion, according to NASSCOM, and growth of more than 15% has been projected for FY2022 as one of the world’s preferred outsourcing destinations, business process outsourcing (BPO) has played a significant role in the emergence of India’s IT sector. 

Among the many changes, here are two landscape shifts, one each from the demand and supply side, that is increasing the adoption of a new solution set:

  • From the demand side: Today’s customers are buying business solutions to expand and connect operations. India's world-class IT strategy is—rather than focused on siloed, solution “components”—about bridging the key essentials of next-generation software, services, business, innovation, engineering, and solutions. As a service provider for best-in-class businesses, India BPOs bring broader awareness of the application of modern technology to optimize business results. These partners are uniquely positioned to put together optimized strategies across people-process-technology.
  • From the supply side: India IT is fast developing the components, using local innovation and also leaning on the assembled building blocks already enabled by global technology (AWS, Google) and service providers. As indicated by Digital India's success and startups, India has already built 5G, semiconductor manufacturing, and optical fiber infrastructure.  The Indian ecosystem has experienced exponential growth in the past few years, with a 15X increase in the total funding of startups, a 9X increase in the number of investors, and a 7X increase in the number of incubators, according to research. Today’s India BPO partners have this momentum on their side. As innovation hubs, these BPOs are on the front lines of incubating technology to support custom, co-creative solutions.

 

BPaaS (business process as a service) is the convergence of technology, services, and business solutions. Research shows recent significant BPaaS spending growth.  

India healthcare IT and BPO/BPaaS organizations are stepping up the value chain to meet evolving client needs. As healthcare payer and provider organizations look to consolidate operations and focus on the core, they look for end-to-end solutions across specialized areas like utilization management and payment integrity, as well as administrative areas like claims, customer service, and network operations. From a process perspective, administrative processes like claims management have seen the most BPaaS adoption, accounting for more than 30% of the revenue share in 2021. Payers are, however, progressively becoming aware of BPaaS’s potential in processes like care management, population health management, and member engagement, as well as in reducing medical expenses, according to ReportLinker research.
 

Typically viewed as commoditized functions within payers, this includes credentialing, provider verification, provider database management, and others can see great value in the deployment of partnerships. Another area of significant interest within our solutions is utilization management, specifically prior authorizations. As the industry transitions from pay-and-chase models for the utilization of health services to a more integrated model of prepay and post-pay activities, prior authorizations have come to the forefront. With a strong BPO/BPaaS partner in place, healthcare organizations have the ability to seamlessly automate prior authorization requests with limited human interaction. A strong partner in the space will have the ability to offer provider portals to submit prior authorization requests, an automation engine that will receive and process the request, a linked medical decision tool that will provide insights on the approvals, and an engine to provide the artificial intelligence to process through the entire workflow.

 

 

What drives this wave of change is the innovation driven by business and domain insight, with the services (IT, BPO, AI/ML) serving as the enablers. Companies are increasingly opening their systems up to secure, real-time integration—to drive toward results like, for example, easily shareable data complemented by AI. This is a time for a change, an opportunity to strengthen the position of the already world-class IT/BPO capabilities in India. While there were once there roadblocks with integrations, these are changing fast. It’s the means-to-the-end focus of providing an integrated business solution to buyers. This new era is bolstered by technical skills and expertise, industrial-grade technology, business solutions, and services—as well as the more creative, collaborative, and integrative mindset required to succeed. All of this, together, will make for the foundation for true innovation and world-class, IT-enabled service delivery.

 
About the author

Amitabh  Singh - Chief Strategy Officer, Sagility


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Amitabh Singh
Chief Strategy Officer

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