Private Equity Investors Favor India Over China

Economic Times of India May 27, 2008, 9:12AM EST

A report by Four-S Services shows India receiving about $19.5 billion worth of private equity investment in 2007, vs. $12.8 billion for China—a flip-flop from 2006

More PE funds flocked to India compared to China in 2007. For the first time, China PE investments were in the range of $12.8bn; nearly 34% less than the investments in India at $19.5bn. This was a huge change from 2006, when China received $12.9bn worth of PE investments, nearly 70% more than the $7.6bn received by India.

However, there was a qualitative difference in the way funds were deployed in China compared to India. China’s traditional Manufacturing & Infrastructure sectors attracted $8.3bn, constituting 65% of total funds invested; compared to $6.2bn constituting 32% of the total for India in 2007, according to a Four-S Services report .

Interestingly, the core sectors were the main areas of PE interest. Infrastructure (Engineering & Construction) sector accounted for a lion’s share of the deals in 2007 with nearly $4.0bn worth of investments (20.5% of total PE/VC investments announced during the Year).

As core development continues to be a high priority, Infrastructure is expected to be one of the fastest growing sectors in India, requiring huge investments worth $492bn over the next 5 years. The major growth driver within the Infrastructure sector was the Construction industry, accounting for 60.3% of the investments.

The top four sectors of Infrastructure, Telecom, BFSI and Real Estate (in that order) received nearly 72.3% of all PE investments during 2007.

Indian PE performance rocked last year mainly due to the fact that there are more private enterprises in India than in China that are attractive to PEs. Though India has always had a higher percentage of private sector companies compared to China, it is only in recent years that there has been a spreading of awareness among the investing community of the strong education system, English language proficiency, legal & financial structures and democratic governance in the country, says the report titled Indian Private Equity Report 2007.

This awareness, combined with sustained growth, has led to increasing investments in India. Also, the year saw some mega IPOs in China, drawing large investments from FIIs & PEs, leading them to limit their private deals and thus maintain their China exposure at certain levels.

Year 2007 saw Private Equity (PE) and Venture Capital (VC) investments ‘Riding a Wave of Euphoria’ in India. If 2006 was about PE/VC activity ‘Bursting into Bloom’, by 2007, the sentiment had risen to ecstatic levels as can be witnessed in the phenomenal growth of PE/VC investments in India, which hit an unprecedented $19.5bn in 2007, 2.5 times the $7.6bn figure of 2006, the report adds.

Total PE/VC investments announced in Indian companies was $19.5bn across 394 deals in 2007, compared to $7.6bn across 298 deals in 2006. The average deal size nearly doubled compared to 2006 ($41.7mn v/s $21.7mn), as even smaller investors that earlier used to look for $5-10mn deals began looking for $20-25mn deals. Also, there was a sectoral shift towards Infrastructure, Telecom & Real Estate,which witnessed the major big ticket deals of the year.

IT/ITES sector was the biggest loser, with investments dropping by 37.5% on YoY basis due to the slower profitability growth forecast. The slowdown in the sector was based on the adverse impact of the over 10% appreciation in the rupee and the depressed conditions in the US economy, which is a major source of revenue for Indian IT companies. Also, most of the big IT firms were not looking to raise funds. However, the sector still managed a record 84 small size deals, mainly in the web-based Information Services Industry and in the BPO/KPO Industry.

Traditional favourites like IT/ITES, Manufacturing and Healthcare together comprised only 18.5% of all investments by value in 2007, compared to 40.6% in 2006, mainly due to better and bigger opportunities in other areas of the economy and comparatively slower growth rates in these 3 sectors.

 

Private Equity Investors Favor India Over China

Economic Times of India May 27, 2008, 9:12AM EST

A report by Four-S Services shows India receiving about $19.5 billion worth of private equity investment in 2007, vs. $12.8 billion for China—a flip-flop from 2006

More PE funds flocked to India compared to China in 2007. For the first time, China PE investments were in the range of $12.8bn; nearly 34% less than the investments in India at $19.5bn. This was a huge change from 2006, when China received $12.9bn worth of PE investments, nearly 70% more than the $7.6bn received by India.

However, there was a qualitative difference in the way funds were deployed in China compared to India. China’s traditional Manufacturing & Infrastructure sectors attracted $8.3bn, constituting 65% of total funds invested; compared to $6.2bn constituting 32% of the total for India in 2007, according to a Four-S Services report .

Interestingly, the core sectors were the main areas of PE interest. Infrastructure (Engineering & Construction) sector accounted for a lion’s share of the deals in 2007 with nearly $4.0bn worth of investments (20.5% of total PE/VC investments announced during the Year).

As core development continues to be a high priority, Infrastructure is expected to be one of the fastest growing sectors in India, requiring huge investments worth $492bn over the next 5 years. The major growth driver within the Infrastructure sector was the Construction industry, accounting for 60.3% of the investments.

The top four sectors of Infrastructure, Telecom, BFSI and Real Estate (in that order) received nearly 72.3% of all PE investments during 2007.

Indian PE performance rocked last year mainly due to the fact that there are more private enterprises in India than in China that are attractive to PEs. Though India has always had a higher percentage of private sector companies compared to China, it is only in recent years that there has been a spreading of awareness among the investing community of the strong education system, English language proficiency, legal & financial structures and democratic governance in the country, says the report titled Indian Private Equity Report 2007.

This awareness, combined with sustained growth, has led to increasing investments in India. Also, the year saw some mega IPOs in China, drawing large investments from FIIs & PEs, leading them to limit their private deals and thus maintain their China exposure at certain levels.

Year 2007 saw Private Equity (PE) and Venture Capital (VC) investments ‘Riding a Wave of Euphoria’ in India. If 2006 was about PE/VC activity ‘Bursting into Bloom’, by 2007, the sentiment had risen to ecstatic levels as can be witnessed in the phenomenal growth of PE/VC investments in India, which hit an unprecedented $19.5bn in 2007, 2.5 times the $7.6bn figure of 2006, the report adds.

Total PE/VC investments announced in Indian companies was $19.5bn across 394 deals in 2007, compared to $7.6bn across 298 deals in 2006. The average deal size nearly doubled compared to 2006 ($41.7mn v/s $21.7mn), as even smaller investors that earlier used to look for $5-10mn deals began looking for $20-25mn deals. Also, there was a sectoral shift towards Infrastructure, Telecom & Real Estate,which witnessed the major big ticket deals of the year.

IT/ITES sector was the biggest loser, with investments dropping by 37.5% on YoY basis due to the slower profitability growth forecast. The slowdown in the sector was based on the adverse impact of the over 10% appreciation in the rupee and the depressed conditions in the US economy, which is a major source of revenue for Indian IT companies. Also, most of the big IT firms were not looking to raise funds. However, the sector still managed a record 84 small size deals, mainly in the web-based Information Services Industry and in the BPO/KPO Industry.

Traditional favourites like IT/ITES, Manufacturing and Healthcare together comprised only 18.5% of all investments by value in 2007, compared to 40.6% in 2006, mainly due to better and bigger opportunities in other areas of the economy and comparatively slower growth rates in these 3 sectors.

 

Medical Billing Opportunities: Worth a Second Opinion

Source: www.ftc.gov – Official website of the Federal Trade Commission, US.

If you’re looking for a home-based business that can help you pull in $20,000 to $45,000 a year using your computer, a work-at-home opportunity doing medical billing may sound like the perfect choice. But before you part with your money, consider this: The Federal Trade Commission (FTC) has brought charges against promoters of medical billing opportunities for misrepresenting the earnings potential of their businesses and for failing to provide key pre-investment information required by law.

Medical Billing Scams

Ads for medical billing business opportunities appear on the Internet and in the classified sections of local newspapers and “giveaway” shopper’s guides. In the “Help-Wanted” classified sections, the ads may appear next to legitimate ads for hospital medical claims processors, leading consumers who respond to think they’re applying for a job, not buying a business opportunity.

The ads lure consumers with promises of substantial income working from home full- or part-time – “no experience required.” They direct consumers to call a toll-free number for more information.

If you call, a sales representative will entice you to sign up by telling you that the processing of medical claims is a lucrative business, that doctors are eager for help with electronic claims processing, and that you – even without any experience – can do this work from the comfort of your home.

Medical billing scammers charge a fee of hundreds, or even thousands, of dollars. In exchange, they claim to provide everything you supposedly need to launch your medical billing business: the software program to process the claims and a list of potential clients.

But the reality is that few consumers who pay for medical billing opportunities find clients or make any money, let alone earn the promised substantial income. Competition in the medical billing market is fierce, especially for those who are new to it. Many doctors’ offices process their own medical claims. Doctors who contract out their medical billing often use established firms, not individuals working from home.

Promoters of fraudulent medical billing opportunities are not interested in helping consumers, either. They only want their money. Many times, the client lists they provide are based on out-of-date databases of doctors who haven’t asked for medical billing services. The software they send may not work or may not have been properly authorized and so is useless. And the money-back “guarantees” often prove worthless. Even after making repeated calls to the promoter or complaining to their credit card companies, government agencies or consumer groups, only a few people actually get refunds.

How to Protect Yourself

To avoid losing your money to a bogus medical billing business opportunity, the FTC advises you to:

• Ask the promoter to give you the names of many previous purchasers so that you can pick and choose who to call for references. Make sure you get many names from which to choose. If the promoter provides only one or two names, be careful: The contacts may be “shills” – people hired to give favorable testimonials. Interview the references, preferably where the business operates, to get a better sense of how the business works. Ask for the names of their clients and a description of their operation.
• Consult with organizations for medical claims processors or medical billing businesses and with doctors in your community. Ask them about the medical billing field: How much of a need is there for this type of work? How much work does medical billing entail? What kind of training is required? Do they know anything about the promotion or promoter you’re interested in?
• Check with the state Attorney General’s office, consumer protection agency and the Better Business Bureau in your area and the area where the promoter is based to learn whether there are any unresolved complaints about the business opportunity or the promoter. While complaints may alert you to problems, the absence of complaints does not necessarily mean the company is legitimate. Unscrupulous companies may settle complaints, change their names or move to hide a history of complaints.
• If the medical billing opportunity sells another company’s software, check with the software company to find out whether company representatives know of any problems with the medical billing promoter.
• Consult an attorney, accountant or other business advisor before you sign any agreement or make any payments up front. An attorney can review the promoter’s contract and advise you on how best to proceed.

Where to Complain

If you think you’ve been defrauded in a medical billing business opportunity scheme, contact the company and ask for your money back. Let the company representatives know that you plan to notify law enforcement and other officials about your experience. Keep a record of your conversations and correspondence. If you send documents to the company, send copies, not originals. Send correspondence by certified mail – and request a return receipt – to document what the company received.

If you can’t resolve the dispute with the company, file a complaint with:

• the Federal Trade Commission. Call 1-877-FTC-HELP (1-877-382-4357) or log on to www.ftc.gov.
• the Attorney General’s office in your state or in the state where the company is located. The office will be able to tell you whether you’re protected by any state law to regulate work-at-home programs.
• your local consumer protection offices.
• your local Better Business Bureau.
• your local postmaster. The U.S. Postal Service investigates fraudulent mail practices.
• the advertising manager of the publication that ran the ad. The manager may be interested to learn about the problems you’ve had.

The FTC works for the consumer to prevent fraudulent, deceptive, and unfair business practices in the marketplace and to provide information to help consumers spot, stop, and avoid them. To file a complaint or to get free information on consumer issues, visit ftc.gov or call toll-free, 1-877-FTC-HELP (1-877-382-4357); TTY: 1-866-653-4261. The FTC enters Internet, telemarketing, identity theft, and other fraud-related complaints into Consumer Sentinel, a secure online database available to hundreds of civil and criminal law enforcement agencies in the U.S. and abroad.

 

Medical Billing Opportunities: Worth a Second Opinion

Source: www.ftc.gov – Official website of the Federal Trade Commission, US.

If you’re looking for a home-based business that can help you pull in $20,000 to $45,000 a year using your computer, a work-at-home opportunity doing medical billing may sound like the perfect choice. But before you part with your money, consider this: The Federal Trade Commission (FTC) has brought charges against promoters of medical billing opportunities for misrepresenting the earnings potential of their businesses and for failing to provide key pre-investment information required by law.

Medical Billing Scams

Ads for medical billing business opportunities appear on the Internet and in the classified sections of local newspapers and “giveaway” shopper’s guides. In the “Help-Wanted” classified sections, the ads may appear next to legitimate ads for hospital medical claims processors, leading consumers who respond to think they’re applying for a job, not buying a business opportunity.

The ads lure consumers with promises of substantial income working from home full- or part-time – “no experience required.” They direct consumers to call a toll-free number for more information.

If you call, a sales representative will entice you to sign up by telling you that the processing of medical claims is a lucrative business, that doctors are eager for help with electronic claims processing, and that you – even without any experience – can do this work from the comfort of your home.

Medical billing scammers charge a fee of hundreds, or even thousands, of dollars. In exchange, they claim to provide everything you supposedly need to launch your medical billing business: the software program to process the claims and a list of potential clients.

But the reality is that few consumers who pay for medical billing opportunities find clients or make any money, let alone earn the promised substantial income. Competition in the medical billing market is fierce, especially for those who are new to it. Many doctors’ offices process their own medical claims. Doctors who contract out their medical billing often use established firms, not individuals working from home.

Promoters of fraudulent medical billing opportunities are not interested in helping consumers, either. They only want their money. Many times, the client lists they provide are based on out-of-date databases of doctors who haven’t asked for medical billing services. The software they send may not work or may not have been properly authorized and so is useless. And the money-back “guarantees” often prove worthless. Even after making repeated calls to the promoter or complaining to their credit card companies, government agencies or consumer groups, only a few people actually get refunds.

How to Protect Yourself

To avoid losing your money to a bogus medical billing business opportunity, the FTC advises you to:

• Ask the promoter to give you the names of many previous purchasers so that you can pick and choose who to call for references. Make sure you get many names from which to choose. If the promoter provides only one or two names, be careful: The contacts may be “shills” – people hired to give favorable testimonials. Interview the references, preferably where the business operates, to get a better sense of how the business works. Ask for the names of their clients and a description of their operation.
• Consult with organizations for medical claims processors or medical billing businesses and with doctors in your community. Ask them about the medical billing field: How much of a need is there for this type of work? How much work does medical billing entail? What kind of training is required? Do they know anything about the promotion or promoter you’re interested in?
• Check with the state Attorney General’s office, consumer protection agency and the Better Business Bureau in your area and the area where the promoter is based to learn whether there are any unresolved complaints about the business opportunity or the promoter. While complaints may alert you to problems, the absence of complaints does not necessarily mean the company is legitimate. Unscrupulous companies may settle complaints, change their names or move to hide a history of complaints.
• If the medical billing opportunity sells another company’s software, check with the software company to find out whether company representatives know of any problems with the medical billing promoter.
• Consult an attorney, accountant or other business advisor before you sign any agreement or make any payments up front. An attorney can review the promoter’s contract and advise you on how best to proceed.

Where to Complain

If you think you’ve been defrauded in a medical billing business opportunity scheme, contact the company and ask for your money back. Let the company representatives know that you plan to notify law enforcement and other officials about your experience. Keep a record of your conversations and correspondence. If you send documents to the company, send copies, not originals. Send correspondence by certified mail – and request a return receipt – to document what the company received.

If you can’t resolve the dispute with the company, file a complaint with:

• the Federal Trade Commission. Call 1-877-FTC-HELP (1-877-382-4357) or log on to www.ftc.gov.
• the Attorney General’s office in your state or in the state where the company is located. The office will be able to tell you whether you’re protected by any state law to regulate work-at-home programs.
• your local consumer protection offices.
• your local Better Business Bureau.
• your local postmaster. The U.S. Postal Service investigates fraudulent mail practices.
• the advertising manager of the publication that ran the ad. The manager may be interested to learn about the problems you’ve had.

The FTC works for the consumer to prevent fraudulent, deceptive, and unfair business practices in the marketplace and to provide information to help consumers spot, stop, and avoid them. To file a complaint or to get free information on consumer issues, visit ftc.gov or call toll-free, 1-877-FTC-HELP (1-877-382-4357); TTY: 1-866-653-4261. The FTC enters Internet, telemarketing, identity theft, and other fraud-related complaints into Consumer Sentinel, a secure online database available to hundreds of civil and criminal law enforcement agencies in the U.S. and abroad.

 

Feds in Indy seek $789K from medical supplier

May 23, 2008. IndyStar.com

A lawsuit filed by the federal government in Indianapolis accuses a medical products supplier based in northeastern Illinois of falsely billing Medicare for $789,579 in medical equipment.

The government claims Criterion Medical Corp. of Braidwood, Ill. submitted 1,427 false claims between May 2002 and October 2007, billing the government for knee and calf replacement liners.

A government investigation determined those liners were not medically necessary and that Criterion acted recklessly.

The government seeks reimbursement and unspecified damages.

Attempts today to reach Criterion were unsuccessful.

Although the company has an active Web site, phone numbers listed for Criterion are disconnected.

The billings were for Medicare patients in Indiana.

 

Feds in Indy seek $789K from medical supplier

May 23, 2008. IndyStar.com

A lawsuit filed by the federal government in Indianapolis accuses a medical products supplier based in northeastern Illinois of falsely billing Medicare for $789,579 in medical equipment.

The government claims Criterion Medical Corp. of Braidwood, Ill. submitted 1,427 false claims between May 2002 and October 2007, billing the government for knee and calf replacement liners.

A government investigation determined those liners were not medically necessary and that Criterion acted recklessly.

The government seeks reimbursement and unspecified damages.

Attempts today to reach Criterion were unsuccessful.

Although the company has an active Web site, phone numbers listed for Criterion are disconnected.

The billings were for Medicare patients in Indiana.

 

Highmark Medicare Services to Begin Processing Claims in New Jersey

Posted on : 2008-05-22 | Author : Highmark Medicare Services News Category : PressRelease

CAMP HILL, Pa., May 22 NJ-Highmark-NJ-claims

CAMP HILL, Pa., May 22 /PRNewswire/ — Highmark Medicare Services will begin processing Medicare Part A claims in New Jersey on September 1, 2008 and Part B claims on November 14, 2008. In October 2007, the Centers for Medicare & Medicaid Services awarded Highmark Medicare Services the Jurisdiction 12 (J12) Medicare contract to provide the Medicare Fee-for-Service Part A and Part B administrative services for the states of Pennsylvania, Maryland, New Jersey, Delaware and the District of Columbia. The award is part of a Congressional requirement to replace all current Medicare Part A and B contracts with new contract entities called Medicare Administrative Contractors (MACs).

In fiscal year 2007, Highmark Medicare Services processed about 48.8 million claims and served approximately 2.3 million beneficiaries and 57,000 providers. As the MAC for J12, Highmark Medicare Services is expected to process approximately 131 million claims annually, accounting for more than 11 percent of the national Medicare fee-for-service workload. Highmark Medicare Services will be working on behalf of approximately 4.2 million beneficiaries and 137,000 physicians and practitioners.

As a MAC, Highmark Medicare Services will serve as a single point-of-contact entity processing Medicare Part A and B claims from hospitals and other institutional providers, physicians and other practitioners within the J12 region. Highmark Medicare Services currently administers the Medicare Fee-for-Service Part A business for Pennsylvania, Maryland, and the District of Columbia, and the Part B business for Pennsylvania.

“As this work transitions from other contractors to Highmark Medicare Services, we are committed to making this as seamless as possible for Medicare beneficiaries and health care providers,” said Patrick Kiley, president of Highmark Medicare Services. “We understand that one of the keys to accomplishing this is through timely and direct communications by the MAC and timely response by those who need to react to changes due to the transition.”

If you have any questions related to the transition or Highmark Medicare Services, visit http://www.highmarkmedicareservices.com.

About Highmark Inc.

Highmark Medicare Services is a wholly owned subsidiary of Highmark Inc.

Highmark Inc. is a major force for Pennsylvania’s economy. According to a Tripp Umbach study, Highmark has a $2.5 billion impact on the economy and that includes about 11,000 employees of Highmark in Pennsylvania. Overall, Highmark and its subsidiaries have 19,000 employees.

As one of the leading health insurers in Pennsylvania, Highmark Inc.’s mission is to provide access to affordable, quality health care enabling individuals to live longer, healthier lives. Based in Pittsburgh, Highmark serves 4.6 million people through the company’s health care benefits business. Highmark contributes millions of dollars to help keep quality health care programs affordable and to support community-based programs that work to improve people’s health. Highmark exerts an enormous economic impact throughout Pennsylvania. The company provides the resources to give its members a greater hand in their health.

Highmark Inc. is an independent licensee of the Blue Cross and Blue Shield Association, an association of independent Blue Cross and Blue Shield plans.

SOURCE: Highmark Medicare Services

© 2008 earthtimes.org.

 

Highmark Medicare Services to Begin Processing Claims in New Jersey

Posted on : 2008-05-22 | Author : Highmark Medicare Services News Category : PressRelease

CAMP HILL, Pa., May 22 NJ-Highmark-NJ-claims

CAMP HILL, Pa., May 22 /PRNewswire/ — Highmark Medicare Services will begin processing Medicare Part A claims in New Jersey on September 1, 2008 and Part B claims on November 14, 2008. In October 2007, the Centers for Medicare & Medicaid Services awarded Highmark Medicare Services the Jurisdiction 12 (J12) Medicare contract to provide the Medicare Fee-for-Service Part A and Part B administrative services for the states of Pennsylvania, Maryland, New Jersey, Delaware and the District of Columbia. The award is part of a Congressional requirement to replace all current Medicare Part A and B contracts with new contract entities called Medicare Administrative Contractors (MACs).

In fiscal year 2007, Highmark Medicare Services processed about 48.8 million claims and served approximately 2.3 million beneficiaries and 57,000 providers. As the MAC for J12, Highmark Medicare Services is expected to process approximately 131 million claims annually, accounting for more than 11 percent of the national Medicare fee-for-service workload. Highmark Medicare Services will be working on behalf of approximately 4.2 million beneficiaries and 137,000 physicians and practitioners.

As a MAC, Highmark Medicare Services will serve as a single point-of-contact entity processing Medicare Part A and B claims from hospitals and other institutional providers, physicians and other practitioners within the J12 region. Highmark Medicare Services currently administers the Medicare Fee-for-Service Part A business for Pennsylvania, Maryland, and the District of Columbia, and the Part B business for Pennsylvania.

“As this work transitions from other contractors to Highmark Medicare Services, we are committed to making this as seamless as possible for Medicare beneficiaries and health care providers,” said Patrick Kiley, president of Highmark Medicare Services. “We understand that one of the keys to accomplishing this is through timely and direct communications by the MAC and timely response by those who need to react to changes due to the transition.”

If you have any questions related to the transition or Highmark Medicare Services, visit http://www.highmarkmedicareservices.com.

About Highmark Inc.

Highmark Medicare Services is a wholly owned subsidiary of Highmark Inc.

Highmark Inc. is a major force for Pennsylvania’s economy. According to a Tripp Umbach study, Highmark has a $2.5 billion impact on the economy and that includes about 11,000 employees of Highmark in Pennsylvania. Overall, Highmark and its subsidiaries have 19,000 employees.

As one of the leading health insurers in Pennsylvania, Highmark Inc.’s mission is to provide access to affordable, quality health care enabling individuals to live longer, healthier lives. Based in Pittsburgh, Highmark serves 4.6 million people through the company’s health care benefits business. Highmark contributes millions of dollars to help keep quality health care programs affordable and to support community-based programs that work to improve people’s health. Highmark exerts an enormous economic impact throughout Pennsylvania. The company provides the resources to give its members a greater hand in their health.

Highmark Inc. is an independent licensee of the Blue Cross and Blue Shield Association, an association of independent Blue Cross and Blue Shield plans.

SOURCE: Highmark Medicare Services

© 2008 earthtimes.org.

 

Now doctors jump into BPO bandwagon

18 May, 2008, 1410 hrs IST, PTI
Source: The Economic Times

NEW DELHI: After engineers and lawyers, now doctors are also gearing up to join the BPO brigade, with the outsourcing firms opening up alternative career options for medicos.

With more and more outsourcing firms moving into healthcare sector and medical transcription, the job opportunities for doctors and nurses in the country are getting widened, an industry expert said.

In a BPO firm, the job of a doctor can include medical billing, transcription and coding for the US hospitals.

Medical transcription, also known as MT, is an allied health profession, which deals in the process of transcription, or converting voice-recorded reports as dictated by physicians and/or other healthcare professionals into text format.

However, some companies like the Patni also provides high-end knowkledge process outsourcing where a doctor is required to study the reports of elderly patients and do risk assessment and prepare reports for health Insurance companies in the US.

At present, the IT services and business outsourcing company has 10 doctors in its team who does insurance claim processing, claim and long-term care management.

Nishikant Kadam, Head of HR of medical BPO CBay said: “We generally hire doctors for training our workforce. The doctors in our firm also works as quality analyst for our medical transcription work.”

CBay currently has 11 doctors on its roll. The doctors are also enjoying this corporate job which comes with fat pay-packet.

“It takes at least three to four years for a fresh medical graduate to establish a successful medical practice. In this period a person can work in a medical BPO and earn good cash,” a doctor working with a Noida-based BPO said.

“Salaries are lucrative compared to regular medical job. A senior doctor with three-five years experience could earn about Rs 8-20 lakh per annum in KPO,” Patni Senior Vice- President Sanjiv Kapur told PTI.

As more medico-related work comes to India, the opportunity for more doctors in the business is rising.

The concept of the “greying of America” is widely accepted today. By 2020, the US population over the age of 65 is projected to grow to 55 million and 42 per cent of them would enter a nursing home in their lifetime. This has opened alternative career options for Doctors in KPO,” Kapur added.

“By outsourcing these jobs, the hospitals and clinics in the US aim to reduce your administrative burden,” Kadam said.

 

Now doctors jump into BPO bandwagon

18 May, 2008, 1410 hrs IST, PTI
Source: The Economic Times

NEW DELHI: After engineers and lawyers, now doctors are also gearing up to join the BPO brigade, with the outsourcing firms opening up alternative career options for medicos.

With more and more outsourcing firms moving into healthcare sector and medical transcription, the job opportunities for doctors and nurses in the country are getting widened, an industry expert said.

In a BPO firm, the job of a doctor can include medical billing, transcription and coding for the US hospitals.

Medical transcription, also known as MT, is an allied health profession, which deals in the process of transcription, or converting voice-recorded reports as dictated by physicians and/or other healthcare professionals into text format.

However, some companies like the Patni also provides high-end knowkledge process outsourcing where a doctor is required to study the reports of elderly patients and do risk assessment and prepare reports for health Insurance companies in the US.

At present, the IT services and business outsourcing company has 10 doctors in its team who does insurance claim processing, claim and long-term care management.

Nishikant Kadam, Head of HR of medical BPO CBay said: “We generally hire doctors for training our workforce. The doctors in our firm also works as quality analyst for our medical transcription work.”

CBay currently has 11 doctors on its roll. The doctors are also enjoying this corporate job which comes with fat pay-packet.

“It takes at least three to four years for a fresh medical graduate to establish a successful medical practice. In this period a person can work in a medical BPO and earn good cash,” a doctor working with a Noida-based BPO said.

“Salaries are lucrative compared to regular medical job. A senior doctor with three-five years experience could earn about Rs 8-20 lakh per annum in KPO,” Patni Senior Vice- President Sanjiv Kapur told PTI.

As more medico-related work comes to India, the opportunity for more doctors in the business is rising.

The concept of the “greying of America” is widely accepted today. By 2020, the US population over the age of 65 is projected to grow to 55 million and 42 per cent of them would enter a nursing home in their lifetime. This has opened alternative career options for Doctors in KPO,” Kapur added.

“By outsourcing these jobs, the hospitals and clinics in the US aim to reduce your administrative burden,” Kadam said.