Firstsource Solutions Limited (NSE: FSL, BSE:532809), a global provider of Business Process Management (BPM) services and an RP-Sanjiv Goenka Group company, and Upfront Healthcare, a leading omnichannel communication and patient engagement platform, have joined forces to provide personalized navigation for each patient. The companies will offer data-backed personalization and health communications to engage patients before and after care - ultimately transforming the care experience and reducing friction.
This partnership was formed to improve medication and visit adherence, reduce gaps in care, and lessen patient communication fatigue which comprise some of the most pressing challenges in healthcare today, creating a vicious cycle of worsening health outcomes and spiraling healthcare costs. Firstsource and Upfront use AI/machine learning-based classification of patient demographic, social, and communication patterns to adapt the communication channel and content to the individual, eliminating common barriers to patient engagement.
There is an industry-wide need to engage patients and personalize their care in order to ensure they complete key health actions. For example, nationwide averages suggest patients do not attend or "late cancel" almost 20 percent of all appointments, and of those, 50 percent are not re-booked. When patients miss essential care, not only is their health impacted, but providers face an approximately $150 billion financial loss. The partnership delivers a differentiated patient experience that proactively engages each patient to attend visits, reschedule in one click rather than no show or cancel, close care gaps, enroll patients in necessary services (like care management or Medicare Advantage), improve medication adherence, follow up after a transition of care, prepare for an episode of care, and schedule open referrals or other necessary care.
"As healthcare becomes more consumer-centric, organizations need to identify opportunities to personalize care and solve the last-mile communication problem," said Venkatgiri Vandali, President, Health Plans and Healthcare Services at Firstsource Solutions. "For many healthcare consumers, improving their health comes down to how well they navigate the healthcare system. Our in-depth domain knowledge, data integration, and AI capabilities, combined with Upfront's humanized engagement and communication platform, will enable healthcare organizations to improve care navigation and visit and medication adherence, resulting in higher engagement amongst patients and members, and reduced medical spend."
The unified Firstsource-Upfront offering is making healthcare easier for patients, positively impacting visit and medication adherence and overall wellness. As a result, health plans and providers will face fewer unnecessary costs that traditionally have arisen from poor adherence (over a half-trillion dollars annually). The combined solution supports Firstsource's mission of driving continuous care and delivering a seamless digital patient experience, a testament to the company's "Digital First, Digital Now" strategy.
"Upfront is on a mission to enable every patient to get the care they need, "said Ben Albert, CEO and co-founder of Upfront Healthcare. "We are excited to partner with Firstsource as they share this mission and together, we can drive more proactive and personalized digital first experiences that guide patients and improve patient and financial outcomes."
Shares of FIRSTSOURCE SOLUTIONS LTD. was last trading in BSE at Rs.216.75 as compared to the previous close of Rs. 227.05. The total number of shares traded during the day was 1092758 in over 16200 trades.
The stock hit an intraday high of Rs. 234.75 and intraday low of 215. The net turnover during the day was Rs. 244355759.