Financial Daily from THE HINDU group of publications
Monday, Sep 02, 2002
Corporate - Announcements
Medical BPO space Apollo group ties up with 2 global majors
THE integrated healthcare services provider The Apollo group, has announced its plans to foray into the growing medical business process outsourcing (BPO) space which combines the expertise in medical systems with information technology and offers services from remote locations.
Apollo Hospitals has launched International Health Services business foray that targets the huge potential of medical business process outsourcing in alliance with two major global players in healthcare services providers Health Services America and Medstaff International.
The Chief Executive Officer of Apollo Health Street Ltd, Dr Vikram Chatwal, said that the diversified group was targeting this medical system business process space, which is estimated at about $1.4 trillion and accounts for about 14 per cent of the US GDP. Of this, about $350 billion worth medical business is outsourced.
Governments, hospitals and various other players including insurance companies are looking at cost-effective solutions to make health care cheaper and are increasingly looking at outsourcing.
The Apollo group, with expertise in diverse areas of health care, is eyeing this space with strategic alliance partners in the US and UK, Dr Chatwal said.
Right from handling simple claims processing for hospitals and insurance companies, these services will cover a whole range of issues such as billing and coding services, HR and payroll, call centre services, disease management from a remote processing centre located at Hyderabad.
"We have established a 30,000 sq.ft office space and plan to engage about 1,500 people to handle various applications related to medicare," he said.
Announcing the corporate's foray into the emerging business space on the eve of Apollo completing 14 years, the Chairman of Apollo group, Dr Prathap C. Reddy, said that the group had already built up an extensive network across the country and planned more centres across borders as well.
It was gearing up to leverage the emerging telemedicine as a tool to reach modern medicine to the masses.
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