Omega Healthcare to double revenue
Omega Healthcare is looking to double its revenue in three years from $55 million.
The firm, which offers revenue cycle management for healthcare providers in the U.S., sees huge potential at the backdrop of Obama Care as well as industry shift in coding systems from the so-called ICD-9 to ICD-10.
The International Classification of Disease tenth revision (ICD-10) is a system of coding created by the World Health Organization that notes various medical records, including diseases, symptoms, abnormal findings and external causes of injury.
"We have 2,000 medical coders and 50 per cent of the coders are trained in ICD-10. With the U.S. shift, the business is going to explode and the by end of next year our coding business should grow by over 50 per cent," Omega Healthcare Co-Founder and CEO Gopi Natarajan said.
He said the firm would close with overall revenue of $55 million, and was looking to double it in the next three years. Omega has grown at a compounded annual growth rate of 30-32 per cent in the last five years. "There is a lot of opportunity with the changes in the U.S. healthcare system and acceptance towards out sourcing is more now than ever before," said Mr. Natarajan.
Omega is also looking to double its head count in three years from 6,700 employees now.
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