Omega targets 9,500 headcount by FY16

Omega Healthcare, a $60-million, offshore provider of healthcare outsourcing services headquartered in Bengaluru, is looking at a substantial expansion in its workforce in the next three years.

Omega Healthcare currently has more than 8,500 employees spread across its four centres in Bengaluru, Chennai, Trichy, and Manila. By the end of FY16, the company anticipates an expansion of up to 9,500 employees and a grand total of 13,000 by the end of FY18.

Omega Healthcare handles revenue cycle management and related work for large US-based companies. It is growing at a rate of 30 per cent to 35 per cent annually, which is double the rate of its closest competitor, and is almost in line with the industry growth rate of 35 per cent to 40 per cent, said Gopi Natarajan, co-founder and CEO. The CEO credits Omega Healthcare’s focused wholesale model for its fast-paced growth.

“With the inception of Obamacare and ICD 10 — which is the 10th revision of WHO’s International Statistical Classification of Diseases and Related Health Problems — there is an increase in the demand for medical coders,” said Gopi Natarajan.

Come October 2015, ICD 10 will be due for implementation. As a result, the demand for medical coders is due to rise with the fivefold increase in medical codes. The US healthcare sector, with an estimated size of about $2 trillion, has only been penetrated up to 20 per cent by backend service providers.

Obamacare also targets to cover the whole of US population (about 300 million), out of which a sixth is uninsured, by 2018. This context enhances the scope for growth and expansion in the sector, he said.

Omega Healthcare is preparing to cater to this anticipated expansion by providing skills-upgrade training for its employees. Their education programme under ‘Omega Medical Coding Academy’ (OMCA), which was established last year, has completed over 21 batches and produced as many as 500 coders. In a tie-up with American Academy of Professional Coders), OMCA is set to have 1,500 coders certified by next year.