Firstsource Solutions Limited (NSE: FSL, BSE:532809), a global provider of Business Process Management (BPM) services and an RP-Sanjiv Goenka Group company, was positioned as a 'Leader' and a 'Star Performer' in Everest Group Healthcare Payer Operations PEAK Matrix® Assessment 2023.
The Healthcare Payer Operations PEAK Matrix® assessed 29 service providers' overall vision, capability and market impact, classifying Firstsource among nine payer operations as a 'Leader', and one of only two as a 'Star Performer' for demonstrating the strongest forward and upward movement in 2022 on the PEAK Matrix®.
Venkatgiri Vandali, Chief Sales Transformation Officer, and President - Healthcare and Lifesciences at Firstsource shares, "This is an incredible recognition of the quality of our services, our investment strategy, and the value we bring to our clients. Our digital-first ethos has enabled a strong focus on building innovative digital and tech solutions that create efficiencies for our clients and deliver a superior and personalized member experience. With claims management and member engagement a key and competitive space, our strong digital health solutions portfolio and ability to scale are poised to further propel our growth and success in the market."
Firstsource's Healthcare Payer Operations scored high across all parameters, particularly on considerations of portfolio mix, scope of services offered, and delivery footprint. Calling out Firstsource's strengths, the report highlighted the proactive investments made by the company toward solutions that cater to the demands of the market, such as the solution built by the company to help clients address Medicaid redetermination and support members through the renewal process. The report also emphasized the investments made by Firstsource in digital solutions and technologies like process mining, AI claims processing, and AI/ML-driven personalized engagement platforms to support the digital transformation journey for clients.
"The healthcare industry is rapidly shifting towards value-based care, driving health plan enterprises to embrace cutting-edge AI solutions for core administrative processes. This has led to increased demand for third-party support to boost innovation and ensure member satisfaction," said Ankur Verma, Vice President at Everest Group. "Firstsource, with its digital-first approach, offers a large set of proprietary solutions backed by strategic partnerships. Moreover, its investments in forward looking initiatives such as a Medicaid redetermination solution, AI enabled platforms and expansion of delivery capabilities to meet the demands of a growing client base have led to its positioning as a Leader and a Star Performer on Everest Group's Healthcare Payer Operations PEAK Matrix Assessment 2023."
Shares of Firstsource Solutions Limited was last trading in BSE at Rs. 163.55 as compared to the previous close of Rs. 162.90. The total number of shares traded during the day was 27149 in over 589 trades.
The stock hit an intraday high of Rs. 165.00 and intraday low of 162.10. The net turnover during the day was Rs. 4431395.00.