Chennai, Coimbatore, Bengaluru centres to compliments Firstsource in US RCM market
Firstsource Solutions Limited (NSE: FSL, BSE:532809) says acquisition of India-based US-focused Quintessence Business Solutions & Services Private Limited will further strengthens its RCM solutions offerings, providing more comprehensive and AI-enabled RCM solutions for health systems, and growing its offshore capabilities.
Quintessence https://qbsshealth.com/ has five delivery centres in Chennai, Coimbatore and Bengaluru which will be highly complementary to Firstsource’s https://www.firstsource.com/ existing strengths in the US RCM market. The US RCM market has a Total Addressable Market (TAM) of more than US$25 billion that is growing at 10-12% on a CAGR basis and relies on comprehensive backend solutions to unlock its potential.
“We expect the combined competencies of Firstsource and Quintessence to be highly synergistic, bringing unmatched solutions and significant benefits to both our clients and our organization,” said Ritesh Idnani, MD & CEO, Firstsource Solutions, which operates globally.
“This acquisition significantly expands our RCM capabilities as Quintessence’s cutting-edge data & AI-driven technology, and proven teams, will be providing end-to-end offshore capabilities, including medical coding, thus expanding our reach from hospitals to physician groups. It also solidifies our status as a global service provider with strong offshore delivery capabilities,” he said on 3 May 2024.
Quintessence CEO Nirmal Kumar Rajachandran sees a cultural fit that will be the key driver for working to enhance the competitiveness of customer base, providing innovative solutions to the marketplace as well as enriching the roles of employees.
“The possibilities of deploying combined solutions, shared workflows, and opportunities to implement technology driven solutions to the larger healthcare market is enticing,” he said, underscoring the importance of being a part of Firstsource, an enterprise with considerable depth and reach in complimentary market segments.
As the US healthcare https://www.healthcare.gov/ market navigates post-pandemic dynamics in both the workforce and the ways patients utilize care, provider organizations are increasingly focused on optimizing revenue capture, efficiencies, and productivity, said Firstsource.
The two technology-driven companies’ powerful combination will offer hospitals, physician practices, and large, integrated health systems end-to-end RCM services https://www.who.int/ , proven experience, and deep industry expertise, helping hospitals deliver streamlined, personalized, quality care while strengthening financial performance, it said.
Firstsource Solutions Limited, an RP-Sanjiv Goenka Group https://www.rpsg.in/ company, is a leading provider of transformational solutions and services spanning the customer lifecycle across Healthcare, Banking and Financial Services, Communications, Media and Technology, as well as other industries. With an established presence in the US, the UK, Mexico, India, and the Philippines, Firstsource acts as a trusted growth partner for over 150 leading global brands, including several Fortune 500 and FTSE 100 companies.
Quintessence Business Solutions and Services Pvt Ltd formed in 2011 provides full cycle revenue growth management services to US healthcare entities and aggregators using a combination of proprietary technology including AI/ML based coding platforms and skilled talent force. Fiinews.com
