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Bengaluru-based BPO (Business Process Outsourcing) firm, Omega Healthcare Management Services, plans to open a 300-seater delivery centre in Andhra Pradesh and hire 1,500 associates by the year end, to support the surge in demand for its healthcare provider services.
The firm, which is ranked among the top three service providers in the healthcare provider BPO market along with Access Healthcare and Cognizant, by the Everest Group, currently serves over 115 customers in the US from 5 delivery locations in India and two in the Philippines.
The healthcare provider market comprises hospitals and physicians while the healthcare payer market comprises health insurance firms. Omega serves the provider market indirectly through RCM (revenue cycle management) and billing companies that directly serve hospitals and physicians.
“We witnessed tepid growth in the first two quarters of FY 2018, due to uncertainty in the policies of the new US administration, resulting in delayed decision-making by our clients. Demand shot up heavily in Q4, therefore, we will have a good exit track for the year,” Gopi Natarajan, CEO, Omega Healthcare Management Services Pvt Ltd, told BusinessLine .
Stating that the company has grown its revenue at 20-25 per cent over the last four years except last fiscal when growth dipped to high teens, he said, “We are on track to register 25 per cent growth in FY 2018 and will continue to grow at the same pace in FY 2019 as the ageing population in the US increases, labour rates go up and the quality of our work ensures faster turnaround time for our clients.”
The 14-year old company’s revenues are above $100 million.
The company plans to ramp up its 13,000-strong workforce, of which 1,000 people work in the Philippines (Manila and Cebu) by an additional 1,500 new hires at the associate level including fresh graduates. These associates will be deployed across delivery centres in Bengaluru, Tiruchi, Chennai, Bhimavaram and Hyderabad.
Digital space
Omega is launching its cloud-based data analytics solutions, marking its foray into the digital solutions space, in the first quarter of FY 2019. “Last year we acquired US-based healthcare analytics firm WhiteSpace, which had two people in the US and 15 developers in Hyderabad. This acquisition was made to complement our services including revenue cycle management, medical coding, data management, etc, as we can now offer value-added solutions like data analytics to our customers who will have access to the right information at the right time, enabling faster decision making,” said Natarajan.
Plans are on to enter the UAE, where it has been testing the market since the last quarter of last year after the government mandated that every citizen must have health insurance.
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