Policy Studies Inc. Unveils BPO Service for Health Insurance Exchanges "Powered by Oracle"
Turnkey service simplifies implementation and reduces cost
DENVER, Jan. 24, 2012 /PRNewswire/ -- Policy Studies Inc. (PSI) announced its new business process outsourcing (BPO) service to help states address the requirements—and deadlines—for implementing health insurance exchanges and marketplaces. PSI's new service is "Powered by Oracle," utilizing Oracle's Policy Automation for Social Services and Oracle's Solutions for Health Insurance Exchanges. This latest offering from PSI helps states speed implementations while controlling costs they will incur if they build or transfer and operate exchanges on their own. PSI is a Gold level member in Oracle Partner Network (OPN).
According to PSI CEO Margaret Laub, PSI's BPO offering gives states much more than cost savings and easier implementation of insurance exchanges. "Controlling the ongoing maintenance and operating costs is critical for the success of state exchanges because they are required to support themselves financially by 2015," Laub said. "No one wants to see insurance costs increase to cover the administrative costs for the exchange itself." She stressed that the PSI BPO solution is designed to keep operating costs reasonable and predictable.
"Maintenance and operating costs for complex systems like these often run 20 percent of the total cost to build them in the first place," continued Laub. "PSI's turnkey solution is essentially 'leased' by states for an affordable per member per month (PMPM) fee, which is a far more predictable and less expensive method for the exchanges to forecast and to manage operating costs."
"We are pleased to see PSI launching this new BPO offering," said Tibor Beles, Oracle's vice president of business process outsourcing. "Relying on this innovative service, PSI's customers will be able to focus on their core business while taking advantage of PSI's process expertise and a cost-effective and flexible service delivery platform 'Powered by Oracle.' And, PSI will be equipped to maximize customer value, offer better process performance, and improve service levels at lower cost."
PSI is a business process outsourcing company that designs and performs all customer service and application management functions within insurance exchanges—ensuring applicants have the customer service they need and expect to understand, choose, apply for, and enroll in the right health benefit plans. The company currently serves Medicaid and CHIP beneficiaries and applicants in four states and the District of Columbia, and is launching another program in South Carolina.
From consulting engagements through program implementation and operation, PSI works with clients to develop effective, affordable solutions for connecting people to programs—and to transform public policy like healthcare reform into programs that achieve tangible results. For more information, visit www.policy-studies.com.
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SOURCE Policy Studies Inc. (PSI)