EXL recognized as a Challenger in Avasant’s Healthcare Digital Services RadarView™ Report 2019-2020
Among endless service provider options, novel and disruptive mechanics in innovation brings recognition as a challenger for Healthcare Digital Services 2019-2020
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“Niche provider with strong healthcare analytics capabilities and industry solutions to help healthcare companies become more intelligent.”
AVASANT ANALYST INSIGHTS
Practice Maturity
- In 2018, EXL’s healthcare revenues grew by 9.6% compared to the previous year. This was primarily driven by the acquisition in 2017 of Health Integrated, a data-enabled care management solutions company.
- It provides BPM services to US-based healthcare payers and providers. It has digital healthcare revenues from its proprietary solutions (such as MedConnectionSM* and its CareRadius® Suite) and its advanced healthcare analytics capabilities targeted at care optimization and reimbursement optimization services.
- Its CareRadius® platform, a cloud-based total population health solution which integrates real-time data from multiple sources and shares it between payors, providers and members, is helping its clients to significantly enhance clinical decision-making, automate workflows, and reduce administrative costs. For example, a major health plan fully automated its process of generating thousands of letters to both members and providers.
Investments and Innovation
- The acquisition of SCIO Health Analytics (for approx. USD 240M in 2018) has bolstered EXL’s healthcare analytics capabilities. Its recent growth in company revenue (in Q1’ 2019), was led by a 52.3% increase in Analytics revenues, of which 36.3% was contributed by SCIO.
- Through its digital innovation labs, it has designed and built industry-leading technology platforms to help improve health outcomes for its clients. This includes the CareRadius® platform and the MedConnectionSM* medical record summarization platform.
- It has also significantly scaled its clinical and utilization managemnt capabilities for payors and providers through its Healthcare Academy in the Philippines, which has 2,000+ professionally trained and certified EXL associates helping to better serve its US healthcare clients.
Partner Ecosystem
- EXL has partnerships with a number of technology companies to improve its digital healthcare offerings. This includes Sisense, which embedded its complex business analytics capabilities into EXL’s CareRadius® platform, as well as Novu, which combined its consumer engagement platform with CareRadius®.
- It is also focusing on developing new digital capabilities and digital healthcare solutions through its Connected Intelligence Partners Program (launched in 2018). This brings together start-ups, digital technology partners, industry solution partners and alliances and associations.
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