Outsourcing: Jason Beans, Founder and CEO of Rising Medical Solutions (Part 4)

Sramana Mitra: I guess, what I’m trying to understand is – one of the case studies I know inside out is the Athenahealth story. Their business model is actually very simple. They work on behalf of the physicians, and they have all these rules engines for coding and everything, and they do collections on behalf of physicians. They service the physician constituency, and they take a percentage of payments.

Jason Beans: Right. We’re on the exact opposite side [from them], more often than not.

SM: Yes, it sounds like it. They are trying to represent the physicians. You’re trying to represent the insurance companies.

JB: More often than not, yes. Yes, that’s true. >>>

Outsourcing: Jason Beans, Founder and CEO of Rising Medical Solutions (Part 3)

Sramana Mitra: What do you think is the core differentiated value in what you do? Is it more the rules engine that helps you determine what is to be approved and what is not to be approved?

Jason Beans: That is a differentiator. I wouldn’t say it was the number one, just because if people were as smart as we were, they could develop similar rules. What we’re trying to do, to own – and that takes technology – is we’re trying to own service in health care, take the pain out of the process. We’re trying to make everything easy, intuitive, and painless and even provide a high customer service model to the providers, patients and carriers that we don’t think has been seen in the industry. >>>

Outsourcing: Jason Beans, Founder and CEO of Rising Medical Solutions (Part 2)

SM: Tell me more about how you deliver that service. What do you need in terms of your workforce? What do you tackle in technology? What do you tackle in human resources?

JB: It’s a very hybrid model. It’s a half technology, half service model. We have a team of, say, 40 or 50 technology people in our Chicago office. We’ve recruited people from Orbitz and the Accenture consulting side and some very senior people. We’ve built out the ability to take out electronic billing from doctors, run it through an engine, route medical data to our clients or to patients to approve, route payment data electronically back to the doctor or to a check printing center if the doctor can’t take ACH. >>>

Outsourcing: Jason Beans, Founder and CEO of Rising Medical Solutions (Part 1)

Health care costs can be prohibitive, not only for the average citizen but for employers and insurance providers, too. Rising Medical Solutions, a Chicago, Illinois-based company, works with insurance providers to help keep health care costs down without sacrificing the quality that patients receive. Their specialities include medical bill review, hospital bill review, care management and provider negotiation, among others. >>>

Outsourcing: Sanjay Dhawan, CEO of Symphony Services (Part 7)

Sraman Mitra: The point I’m trying to make is that there is a filter, and you’re making these bets with a lens in mind. Your end goal is to use these companies to get into larger companies that will acquire them. What I’m talking about is a scale of one million entrepreneurs reaching $1 million in revenues. Many of these companies will never get acquired. These are going to be cash businesses. These are little businesses that will be maybe $2 million, $5 million businesses and they will remain that. Nobody will ever acquire them. >>>

Outsourcing: Sanjay Dhawan, CEO of Symphony Services (Part 6)

SM: That’s exactly my point. You can, if you go into a niche that is an up and coming niche that is potentially underserved and you develop core competency – the real operating words are core competency.

SD: Yes. Their story, their focus was very UI and design focused. Immediately before this, like I said, I ran Aricent as its president. We had a similar model in previous company. I don’t know if you’ve ever heard of a company called Frog Design, which is one of the largest design companies in the world. They helped Steve Jobs design his first Mac. The original Mac design was done by Frog Design, and they were owned by my previous company. So, I have followed that whole life cycle of combining design with development. I think that was a niche that Globant started. Once you get your foot strongly placed, then you start achieving scale. >>>

Outsourcing: Sanjay Dhawan, CEO of Symphony Services (Part 5)

Sramana Mitra: You can set up a 1,000-person operation in a certain region, especially if you run your own university. I don’t think that should be a problem.

San Dhawan: Right.

SM: There are two other topics I want to explore. One is, how do you go from a $200 million to a $1 billion company, assuming that’s your objective? >>>

Outsourcing: Sanjay Dhawan, CEO of Symphony Services (Part 4)

SM: You’re located in Bangalore?

SD: The main sites are Bangalore and Pune, but we do have satellite offices in Mumbai and Delhi, Gurgaon.

SM: Is there any thought in the company to look at other cities, more heartland cities, lower cost destinations?

SD: Within India, do you mean? >>>