TMCnet News
HGS Hits $1 Billion in Recovered Payments for Healthcare Systems' Toughest ClaimsHinduja Global Solutions (HGS) (listed in BSE & NSE) announced today it has recovered $1 billion in denied insurance payments on behalf of healthcare systems, a major milestone in what are some of providers' toughest claims. "As macroeconomic headwinds continue to impact the U.S. healthcare market, providers often struggle to walk the fine line between the push for healthier patient outcomes and an unsustainable cost structure. At the same time, the provider revenue cycle is becoming increasingly complex," said Dan Schulte, Senior Vice President, HGS Healthcare. "Providers need a strong partner to help them pursue smaller insurance claims properly and recover payments that go right back to their bottom line. We're thrilled to have reached the $1 billion milestone and recover some of the toughest claims for our provider customers." The average hospital costs must fall 24% by 2022 in order for healthcare systems to break even, a recent Black Book Market Research LLC survey found. By getting denied insurance claims adjudicated, properly appealed and collected, HGS is able to contribute up to 5% to healthcare systems' bottom line. Having strong relationships with both payers and providers, HGS brings unique and in-depth expertise to provider revenue cycle management. To-date, the company has collected more than $3 billion in accounts receivable on behalf of healthcare systems. About Hinduja Global Solutions (HGS): A global leader in business process management (BPM) and optimizing the customer experience lifecycle, HGS is helping make its clients more competitive every day. HGS combines technology-powered services in automation, analytics and digital with domain expertise focusing on back office processing, contact centers and HRO solutions to deliver transformational impact to clients. Part of the multi-billion dollar conglomerate Hinduja Group, HGS takes a true "globally local" approach, with over 42,371 employees across 72 delivery centers (as on 30th June 2019) in seven countries making a difference to some of the world's leading brands across nine key verticals. For the year ended 31st March 2019, HGS had revenues of US$ 689 million. Visit www.teamhgs.com to learn how HGS can help make your business more competitive. View source version on businesswire.com: https://www.businesswire.com/news/home/20190905005745/en/ |
