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 2019-2020Read the Avasant report
AVASANT ANALYST INSIGHTS
- 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.
- 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.
This graphic was published by Avasant LLC as part of a larger research document and should be evaluated in the context of the entire document. The document is available upon request from Avasant website. Avasant does not endorse any provider, product or service depicted in its research publications, including RadarViewTM, and does not advise users to select only those providers recognized in these publications. Avasant’s research publications are based on information from best available sources and Avasant’s opinion at the time of publication, and their contents should not be construed as statements of fact. Avasant disclaims all warranties, expressed or implied, with respect to this research, including and warranties of merchantability or fitness for a particular purpose.