Platform based BPO for the competitive marketplace
What is Platform based BPO?
Platform-based BPO is not a new process. It has been around for quite some time. The main objective of Platform-based BPO is cost-reduction. It helps the organizations to meet the increasing demand of the customers and sustain themselves in the highly competitive marketplace. Earlier it was used in transaction-processing contracts such as insurance claims management, payroll, workflow management and some areas in procurement and healthcare BPO. But of late, it is generating considerably more interest.
Benefits of platform based BPO approach
Platform-based BPO offers many benefits to the buyers. These include:
• Economies of scale
• Process standardization
• Improved quality through automation
The service providers also greatly benefit from the Platform-based BPO approach. The players implement this approach in their business processes to achieve a sustainable competitive advantage.
Critical success factors of platform based BPO:
The service providers use the optimal combination of technology, process excellence and human resources to deliver high quality service. The critical success factors for the platform based BPO include:
• Delivery expertise
• Offshore expertise
• Deep domain knowledge
• Business process expertise
• Possession of a good delivery platform
Platform based BPO in healthcare
The healthcare payer sector is becoming increasingly competitive. Many organizations find it difficult to maintain profitability in this highly competitive market place without reducing costs, improving quality and customer service. This is where they require platform-based BPO services. With the help of this service, the organization can succeed now and also in the long run.
Platform based BPO software helps the healthcare sector in the following ways:
• It improves the back-office functions allowing the organization to focus on their customers and provide superior services
• This helps in customer retention in a highly competitive market
• The staffing levels can be easily adjusted through regular ups and downs
• It helps the organization to rapidly adapt to the changing market conditions
• It improves the efficiency of repetitive business processes like billing, plan building, eligibility, claims processing and enrollment
• It helps in achieving reduction in the costs
• It helps in renewing the organizations focus on core competencies and strategic objectives
• Achieve a faultless transition to the organizations systems and staff
• Predict the costs and profits of the organization with the pricing model of Platform based BPO
Besides the main services and benefits offered by Platform based BPO, it also offers some optional services. These include:
• Plan building and maintenance
• Claims processing and adjudication
• Utilization review
• Mailroom functions
• Provider maintenance
• Claims re-pricing
• Eligibility and enrollment
Firstsource is a leading global provider of business process outsourcing (BPO) services.