Cashing in on IT for Healthcare

by Medindia Content Team on  January 28, 2007 at 1:58 PM News on IT in Healthcare   - G J E 4
Cashing in on IT for Healthcare
Chennai: Translating a healthcare presentation into Japanese for an American client who wants to show it in Tokyo in two days is a task not many can undertake. And all this from Chennai too!

But a small company here, Helios & Matheson, is proving that it is possible. Specialising in providing software services to the healthcare sector, it is making ripples by delivering on the dot and raking in millions of dollars in profit.

Its range of offerings is one of the most comprehensive in the industry and spans the entire software services lifecycle.

The company even offers customised services for European clients with French language instruction from Alliance Francaise for employees and onsite recruitments for particular projects.

When the Thailand-based company Thai Carbon Black (TCB) required a technical process management system that could handle its voluminous process data in real time, it chose Helios & Matheson.

"We are a focused niche player and our clients include health insurance giants, pharma majors, healthcare providers and the like," G.K. Muralikrishna, CEO, Helios & Matheson (H&M), told IANS here.

"And our tasks and deadlines are often extremely challenging," he added.

The company is looking at offshore business to the tune of $120 million or more this year, Muralikrishna said, adding that revenue guidance for the financial year 2007 was $87.6 million.

Set up in 1991, H&M clients include KPMG Consulting, Florida, First Mortgage Corporation and others. It has become a National Stock Exchange-listed, Bombay Stock Exchange-500 index stock company with 1,400 specialists in its Chennai, Bangalore and Singapore facilities.

Its clients also include Wipro, Robert Bosch and the hospitality sector provider Intellec Data Systems and Software Ltd. and the net worth of the company is estimated to go up to Rs.2.57 billion.

A Gartner report says by 2009, the healthcare sector's investment in IT will increase by more than 50 percent, and H&M is cashing in on this projection. Early adoption of IT can reduce preventable deaths by as much as 50 percent, Gartner analysts say.

"More than 70 percent of large US corporations have ranked India as the primary country for supplying offshore IT services," Muralikrishna pointed out.

The healthcare sector is the single largest industry contributing to more than 15 percent of US GDP, he added. "Our focus is the healthcare sector and strengthening our presence in the US market."

"One of the biggest tasks for today's CEO is managing across borders," said H&M chairman V. Ramachandiran.

"Our global delivery model mandates a multi-cultural and multi-ethnic workforce. We believe that this initiative will be instrumental in making our employees become internationally focused and fluent, with the ability to understand the needs of local cohort groups, markets and clients," Ramachandiran told IANS.

So, H&M will continue to specialise in package implementation and remote tech support to outsourced research, he said.

It will strengthen its position in research-based content development for regulatory agencies and pharmaceutical companies, in image interpretation and data analysis services for clinical trials and pharmaceutical research enterprise, he said.

Source: IANS

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