Accentia technologies Ltd, is a leading Business Process Management company offering managed services in Healthcare, Legal and finance domains in US, UK, Middle East / India geographies. As part of our Company's on-going efforts to upgrade its service delivery suite, Accentia is targeting the second week of January 2011 to install its SaaS (Software AS A Service) delivery suite at of its existing clients to mark its nation-wide launch in the USA.
The suite will Include Electronic Medical Records (EMR) module, plug-ins for traditional and speech recognition based transcripts, discreet transcription, Practice Management module., Electronic Coding and Boiling module arid collection module for traditional and through electronic clearance houses. The SaaS model will ensure that the clients get all the services, including the EMR / Transcription / Coding / Billing and Collection through an integrated platform from a single vendor the Company expects to price the services in such a way to pass on a part of its cost saving through integration of services, usage of electronic delivery system arid offshore workforce, to the clients to make it more attractive to clients financially and that would consider enhance the profitability of our clients.
Our SaaS efforts is in line with the huge opportunity getting unleashed through the new healthcare policy of Obama administration in the US where it is mandated through legislation to transition all current practices to Electronic Medical Records (EMR) based processing and the go is offering an incentive of $44,000 per physician (from the ARRA fund) who migrates to the meaningful use of EMR between May 2011 and May 2014. The total allocated sum for this purpose is around $80 Bn.
Accentia, in the first four months would be using a couple of components of the SeaS from third party vendors, however by May 2011 company is expected to complete its on development and testing of a few components at its Svelopment bases in UK and India and integrate with the SaaS platform.
Speaking on the occasion, Ravi Sankar Director Corporate Planning said "Accentia is being approached by a majority of its existing clients and prospective new clients to migrate to an EMR based revenue cycle management and Practice Management platform immediately, keeping in mind the sizeable incentive of $ 44,000 per physician being offered by the Government from the American Recovery and Reinvestment Act (ARRA) fund. This market pull is very encouraging and favors our proven approach towards integrated service delivery in EMR / transcription, Coding Billing and Collections, areas. Since the new model would enhance the, productivity as compared to the traditional model we intend to consolidate our operations in our main hubs to streamline our re-training and re-orientation of the existing professional workforce in the new model. In order to realign our operations to suit the demands of the new model, we are planning to Shift a majority of our employees from our smaller units at Chandigarh, Kolkata and, Bhubaneswar to our other bigger units with immediate effect. As part of our aggressive sales plan in the US, we will be enhancing our national sales team count by 100% in the next 3 months".
The stock closed the day at Rs.218.20, down by Rs.8.20 or 3.62%. The stock hit an intraday high of Rs.229 and low of Rs.215.
The total traded quantity was 0.45 lakhs compared to 2 week average of 0.31 lakhs.
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