Invensis Recognized as a Prominent Player in the Global Medical Claims Processing Market, 2016-2024
Invensis has been recognized as a prominent player in the global medical claims processing service market, according to Coherent Market Insights Report. The report praises Invensis for its efforts to comply with regulatory standards and efficiency in managing high claim volume with accuracy and low administration costs. The report also leads to the suggestion of leveraging the services of Invensis citing the low global insurance penetration and claims processing error of around 20%.Tweet
-- Invensis Technologies, a leading healthcare BPO provider has been named as one of the prominent players in the Global Medical Claims Processing Service Market in Coherent Market Insights report, 2016-2024. The company is recognized for its superior delivery excellence and maximum efficiency rate. With the proficiency in different subgroups of medical billing services, Invensis has efficiently rendered its services to various global organizations.
Focal points of Invensis in the report:-
- Current challenges: According to the report, the healthcare industry is entrenched with uncertainties of uncollectible, health information exchange and financial performance. Invensis is trusted with managing high claim volume, delivers optimum claim processing speed with accuracy. Invensis adheres to mandatory regulatory compliance standards and sets low administrative costs.
- Leading trends: The report states that the global insurance penetration rate was a mere 6.2% in 2014, with India having insurance penetration rate on the lower side, at just 3.9% in the same year. The U.S., Japan, U.K., Australia, Italy, and France are some of the leading countries in the global medical claims processing services market, owing to higher insurance penetration rate, increasing number of claims and growing demand from healthcare providers.
Although the medical claims processing services market in Asia-Pacific and rest of the world are still at a very nascent stage, high population base and increasing awareness of insurance in the middle-income group is expected to boost demand for medical claims processing services in the near future.
The report leads to the suggestion of leveraging the services of a leading medical billing service provider like Invensis who has a reputation for its all-inclusive medical claims processing services that help in reducing the marked difference in the treatment plans on the availability of resources and the realities of local conditions.
- Unprecedented delivery model: The report puts on gloomy fact, citing the American Medical Association (AMA) that says there is an error rate of 20% among health insurers that results in a loss of around US$ 17 billion each year. Invensis has been acclaimed in the report for its adequacy and technically advanced claims processing services. With its effective engagement model, Invensis has reduced the burden as well as the cost for insurance companies.
Notes to Editor
Invensis is a leading Business Process Management, IT Outsourcing Company helping organizations globally in effectively supporting their mission critical processes. Invensis is a trusted partner and vendor for quite a few Fortune 500 companies. With an aim to offer high-quality services, Invensis has played a transformative role in the growth of 200+ customers from 9+ industry domains. With customers across geographies in more than 24 countries, Invensis takes pride in working with companies that include the Fortune 100.
Invensis started its operations in the year 2000, in Bangalore, India, with a team of five members. With passion and commitment to be a global leader, Invensis leveraged, up the value chain to currently a 2500+ employee strong workforce. With an office based out of Wilmington, DE, USA and delivery centers in Bangalore and Rajahmundry, Invensis' service portfolio spans: IT Services, Finance and Accounting (F&A), Call Center, Data Management, Digital Marketing, Management Training, Professional Photo Editing Services.
Invensis is ISO 27001 certified company and gives paramount importance to stringent data security for all client information. Invensis is also ISO 9001:2008 certified and ensures utmost focus in providing highest accuracy of output in all its Back Office BPO services. To meet the stringent data security needs of the global and US Healthcare market, the company has also achieved HIPAA compliance.
About Coherent Market Insights
Coherent Market Insights is a global market intelligence and consulting organization focused on assisting a plethora of clients to achieve transformational growth by helping them make critical business decisions. The Coherent Market Insights report is based on an extensive research and market analysis of the industry and includes the viewpoints of industry experts. It describes the global medical claims processing market trends, outlooks as well as key vendors who are the leading providers.