Chennai, Jan 19 (ANI/Business Wire India): SCIOinspire Corp., the US-based premier provider of healthcare cost-containment services, is strengthening its Indian operations in Chennai.
SCIOinspire Corp. – a Sequoia Capital India, Healthcare Enterprise Partners and SVB India Capital Partners funded venture – has been providing high-end analytics and cost management services to US health insurance companies through its delivery centers in Pittsburgh and Hartford in the US.
SCIOinspire works with more than 30 major health plans, TPAs, and care and disease management companies.
SCIOinspire’s wholly owned subsidiary, SCIOinspire Consulting Services (I) Pvt. Ltd., will enhance value to its existing clients by leveraging highly qualified domain and technology experts from India.
In addition, SCIOinspire will leverage its global talent pool to offer technology, business process management, and actuarial advisory services to the Indian market.
India is a strategic location for SCIOinspire’s technology and KPO initiatives.
“Our Indian office is a state-of-the-art facility located in the heart of Chennai, housing clinicians, pharmacists, statisticians, analysts, data modelers, technologists, SMEs and legal experts, to help drive technology and platform-based healthcare knowledge services. We plan to add another 150 employees across the board by the year-end,” said Siva Namasivayam, Co-Founder and CEO, SCIOinspire Corp.
SCIOinspire is passionate about improving the affordability and quality of healthcare services, and has been saving millions of dollars for its clients through its proprietary platforms such as MY SOCRATES for recovery services, and the PRO Series (PROFormanceT, PROSpectT, PROGuideT) for Care and Disease Management Analytics.
SCIOinspire’s aggressive growth strategy led to its acquisition of Pittsburgh, PA based SOCRATES, INC – A leading subrogation services and technology company; and Hartford, CT based Solucia Consulting – A renowned thought leader in care management analytics and actuarial services.
“These acquisitions have strengthened our services portfolio and increased our presence in the high-end healthcare cost management services market. Our unique strengths include deep healthcare domain expertise, healthcare analytics, actuarial services and overpayment areas. ,” said Namasivayam.
SCIOinspire sees huge potential in the emerging Indian health insurance sector for its software platforms and analytics and actuarial services.
The Indian health insurance sector was estimated to be worth over 4000 crores in premium income in 2007, which accounted for just over one per cent market penetration.
The market is expected to grow at a CAGR of 27.5 per cent until 2015.
“Apart from servicing our international clientele, we are uniquely poised to leverage our deep domain and technology expertise to provide this rapidly growing market with technology, business process management, and actuarial advisory services,” said Karthik Krishnaswami, Co-Founder and Group COO, SCIOinspire Corp. Karthik is based in Chennai, India. (ANI)