NASCO and Genpact Partnering to Reimagine How U.S. Healthcare Operates
Combination of NASCO’s technology platform and Genpact’s Lean DigitalSM approach will optimize business operations and enhance existing solutions for healthcare payers
ATLANTA and NEW YORK, February 4, 2016 – NASCO, an industry-leading provider of healthcare solutions, and Genpact (NYSE: G), a global leader in digitally-powered business process management and services, today announced they will partner in an innovative effort to address the business operations needs of healthcare plans in the continually evolving U.S. healthcare market. NASCO and Genpact will transform health plan administration into a digitally-powered operating model that surrounds and extends NASCO's established, extremely efficient and scalable technology platform.
NASCO has selected Genpact as its exclusive business process services partner. Genpact will help NASCO bring greater efficiency to its customers by streamlining administrative functions, simplifying compliance with regulatory changes, and improving services to members and other healthcare providers. The partnership will provide NASCO’s customers with an end-to-end shared service. Initially, NASCO and Genpact will focus on improvements to claims administration and operations of both member and provider contact centers. The business process services solutions are available to NASCO’s existing customers, and to healthcare plans that are not currently on the NASCO platform.
Genpact and NASCO will collect data about current health plan business processes, analyze that data, and then develop organizational operations models that allow use of proven digital technologies such as rapid automation (RA). These new operations models will also take advantage of intelligent enterprise analytics to identify potential areas of operational improvement, and will be designed to be easily scaled and adapted to meet evolving regulatory and market needs. Both companies recognize that changes in the market have intensified the need for regionally focused healthcare plans to increase their efficiency, protect their financial health, and maintain a strong focus on members as well as providers.
“Our partnership with Genpact strengthens and extends the NASCO solution and value we bring to our business partners,” said John Ladaga, CEO at NASCO. “We chose Genpact because of their deep expertise in business processes across healthcare and many other industries that help their clients achieve best-in-class operational efficiencies. This collaboration uniquely addresses key operational concerns for our business partners – optimizing administrative functions, reducing costs, adapting to regulatory changes, and enhancing the experience for their members – all fueled by NASCO solutions and Genpact process reengineering expertise.”
“We are excited to partner with an organization of the caliber of NASCO and its ecosystem in the healthcare payer market,” said Jim Mapes, senior vice president and business leader, Healthcare at Genpact. “Combining NASCO’s healthcare payer expertise and capabilities with Genpact’s Lean DigitalSM approach will revolutionize how health plans run their operations and serve their members.”
NASCO was established in 1987 as an integrated claims processing system for national account healthcare business, and it has since evolved into a total payer solution. Today, NASCO provides an integrated suite of products to support the processing and servicing of national and local business, Medicare Advantage, FEP and public and private exchange business, and the company has earned a reputation for bridging the payer gap with quality support and personal service. While NASCO’s foundation is its claims processing system, the company has worked diligently to develop new products, improve capabilities, and increase sharable services to ensure that its customers remain competitive and aligned with changing market demands.
Genpact has been operating in the healthcare industry for over a decade, including serving eight of the top ten U.S. health plans from seven delivery locations in the U.S. and across the globe. Genpact’s healthcare solutions cover a full spectrum of services including end-to-end transactional processes, advanced technology, analytics, and consultative and transformational solutions to help manage the life cycle of a claim from beginning to end – from claims processing and adjudication to claims recovery and payment integrity. Genpact’s regulatory compliance solutions include planning, business alignment, change management, training and testing. More information about Genpact’s healthcare payer business can be accessed at http://www.genpact.com/home/industries/healthcare-payer.
NASCO provides an integrated suite of information technology products and services designed to solve common business challenges, create a cost advantage and minimize business risk for health plans across the nation. NASCO processes over 300 million health claims per year on behalf of over 25 million health plan members. We provide seamless benefit management, eligibility, membership, billing and claims processing support for our customers, allowing them to provide competitive healthcare products in federal, state and multistate markets. For more information, visit www.nasco.com.
Genpact (NYSE: G) stands for “generating business impact.” We are a global leader in digitally-powered business process management and services. We architect the Lean DigitalSM enterprise through our patented Smart Enterprise Processes (SEPSM) framework that reimagines our clients’ operating model end-to-end, including the middle and back offices. This creates Intelligent OperationsSM that we help design, transform, and run. The impact on our clients is a high return on transformation investments through growth, efficiency, and business agility. For two decades, first as a General Electric division and later as an independent company, we have been passionately serving a few hundred strategic clients including one-fourth of the Fortune Global 500, and have grown to over 70,000 people in 25 countries, with key offices in New York City. The resulting business process and industry domain expertise, and experience running complex operations, are a unique heritage and focus that help us drive the best choices across technology, analytics, and organizational design. For additional information, visit www.genpact.com. Follow Genpact on Twitter, Facebook, LinkedIn, and YouTube.
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