Posts Tagged ‘iSoftStone’

PHNS implements new accelerated claims resolution services with iSoftStone

February 10th, 2010

PHNS Inc. announced its new “24/7 Claims Acceleration” services for U.S. hospitals using a team of Chinese business analysts trained by PHNS and China-based IT and business process outsourcing provider iSoftStone. The Chinese business analysts are located in iSoftStone’s Global Delivery Center in Tianjin, China. All of this new team have bachelor’s or master’s-equivalent degrees, and have completed months of specialized PHNS’ hospital claims resolution training, facilitated by specialists from both PHNS and iSoftStone.

PHNS’ new “24/7 Claims Acceleration” services help expedite claims resolution for hospitals by taking advantage of the time differential between China and the U.S. (China is 14 hours ahead): after PHNS’ U.S. Patient Account Representatives go home at night, new claims are sent to iSoftStone via secure network where iSoftStone’s Chinese business analysts perform online statusing of claims and document claim status in PHNS’ workflow/work listing system, which is then used by PHNS’ U.S. Patient Account Representatives to expedite the resolution of claims when they return to work the next morning.

“PHNS is very excited to offer this innovative new 24/7 service that accelerates claims resolution and cash flow for U.S. hospitals by utilizing the skilled Chinese business analysts provided by iSoftStone,” said Dan Allison, CEO of PHNS. “iSoftStone and PHNS worked very closely together during the past year to select and train the initial group of Chinese business analysts that are dedicated to provide services to PHNS, and iSoftStone has become an effective and trusted service provider for PHNS,” added Allison.

“Utilizing an overseas office allows us to virtually become an around-the-clock operation,” said Ron Kelley, who leads PHNS’ revenue management services. “This approach can help us speed up the resolution of accounts receivable for our clients, allowing transaction processing and online or data-entry activities to occur over night. The next morning, our U.S.-based patient accounting professionals can begin issuing appeals, making follow-up calls to insurance companies and working problem accounts more rapidly,” added Kelley. “The entire process is also extremely secure. All of the infrastructure and controls iSoftStone has built to ensure HIPAA-compliant safeguarding of data are more secure than what many U.S. hospitals utilize.”

“iSoftStone is very pleased to be PHNS’s exclusive partner providing these unique hospital claims resolution services to PHNS using iSoftStone’s established China-based delivery platform,” said TW Liu, Chairman and CEO of iSoftStone. “This partnership is an innovative combination of PHNS’ sophisticated U.S. hospital revenue management services and iSoftStone’s efficient and cost-effective business process outsourcing (BPO) platform that uses time zone differences to create a virtual 24/7 service,” added Liu.

Source:http://www.tradingmarkets.com/news/press-release/ushcb_phns-implements-new-accelerated-claims-resolution-services-with-isoftstone-763891.html

Share and Enjoy:
  • Twitter
  • FriendFeed
  • LinkedIn
  • Google Bookmarks
  • Facebook
  • MySpace
  • Digg
  • del.icio.us
  • Sphinn
  • Mixx
  • Blogplay
  • Yahoo! Buzz
  • Live
  • Posterous
  • Technorati
  • Add to favorites
  • RSS
  • email
  • Print
  • Tumblr
  • Identi.ca
  • Hyves
  • IndianPad
  • Yahoo! Bookmarks

iSoftStone, a Leader in Global Outsourcing from China, Secures a Round of Financing Led by Everbright

January 25th, 2010

iSoftStone Holdings Limited, a leading China-based provider of IT and Business Process Outsourcing Services to clients in China and globally, announced today it has closed a round of financing led by Everbright Private Equity, the private equity arm of China Everbright Limited (Everbright, HKSE: 0165), a leading red-chip financial conglomerate listed on the Hong Kong Stock Exchange and a substantive shareholder of China Everbright Bank. China Everbright Bank, a nationwide commercial bank, has been a client of iSoftStone since 2007. Joining the round were existing investors AsiaVest Partners, Fidelity Asia Ventures, Infotech Pacific Ventures and Mitsui Ventures Global Fund. Also joining this funding round is Wuxi Jinyuan Industry Investment Development Co. Ltd, an investment arm of the Wuxi municipal government, which is making an investment in iSoftStone as part of its commitment to supporting China’s rapidly growing outsourcing industry.

“We are pleased to complete this growth financing with a well-regarded partner such as Everbright Private Equity. We believe that this investment, which comes from an existing client of iSoftStone, is a validation of our service offering, particularly with domestic Chinese banking clients,” said TW Liu, Chairman and CEO of iSoftStone. “Additionally, we are pleased that our existing investors have chosen to invest alongside Everbright Private Equity, representative of further confidence in iSoftStone’s continued success in what has been a very dynamic market environment.”

“Everbright is pleased to have the opportunity to support our strategic relationship with iSoftStone,” said Everbright Private Equity’s Chairwoman, Ms. He Ling. “iSoftStone’s unique ‘China + global’ market positioning, client value proposition and world-class management team are key differentiators for us, as both a client historically and also now as a strategic investor.”

“During the past year, in spite of severely impaired global capital markets, iSoftStone raised more than $65 million, which includes the Everbright-led investment and capital obtained from a number of domestic Chinese commercial banks, which provides a strong capital base to support our continued growth,” added Michael Wu, CFO of iSoftStone. “Our strong capital base will be used to fund further growth, including working capital, delivery platform expansion and potential strategic acquisitions.”

Source:http://www.prnewswire.com/news-releases/isoftstone-a-leader-in-global-outsourcing-from-china-secures-a-round-of-financing-led-by-everbright-82572072.html

Share and Enjoy:
  • Twitter
  • FriendFeed
  • LinkedIn
  • Google Bookmarks
  • Facebook
  • MySpace
  • Digg
  • del.icio.us
  • Sphinn
  • Mixx
  • Blogplay
  • Yahoo! Buzz
  • Live
  • Posterous
  • Technorati
  • Add to favorites
  • RSS
  • email
  • Print
  • Tumblr
  • Identi.ca
  • Hyves
  • IndianPad
  • Yahoo! Bookmarks
Get Adobe Flash playerPlugin by wpburn.com wordpress themes