Insurers face persistent challenges like claims administration and managing contact center costs. Generative AI offers opportunities to simplify workflows.

Medicaid redetermination isn’t going smoothly. As of late December 2023, the Kaiser Family Foundation found that 71% of Medicaid disenrollments nationwide were for procedural reasons. That means patients are losing coverage because they filled out a form incorrectly or missed a deadline, not because they’re truly ineligible for renewal.

Ritesh Idnani, MD & CEO, Firstsource in conversation with ET Now on the FY24 Q3 Earnings Result

As states disenroll millions of individuals from their Medicaid rolls, small and medium sized health plans with managed Medicaid plans face multiple risks. Their Medicaid members are losing access to care, many of them erroneously, with 72% of membersbeing disenrolled for procedural reasons.

Healthcare providers are feeling the industry’s talent shortage in their administrative functions as well as clinical areas. One case in point: revenue cycle management. In a recent study, 63% of healthcare providers reported an inability to fill key revenue management roles.

In an era when consumers may digitally apply for mortgages, buy vehicles, trade stocks and transfer funds easily and securely, the healthcare financial experience is often frustrating for patients and their families. Growing numbers of patients say financial transparency and options for financing care determine which providers they select. 

Firstsource Positioned as a ‘Major Contender’ in Everest Group Revenue Cycle Management (RCM) Operations PEAK Matrix® Assessment 2023

Mumbai, India |  November 02, 2023: Firstsource Solutions Limited (NSE: FSL, BSE:532809), a global provider of Business Process Management (BPM) services and an RP-Sanjiv Goenka Group company, has been positioned as a ‘Major Contender’ in Everest Group Revenue Cycle Management (RCM) Operations PEAK Matrix® Assessment 2023.

Firstsource identified as a Leader in the 2023 ISG Provider Lens™
Customer Experience Services Report for Europe