What is the Price Indicator
The HFS PriceIndicator™ is a research-based price benchmarking service that provides clients an insight into current ITO and BPO pricing. Currently, PriceIndicator provides a bi-annual set of hourly FTE rate cards for ADM, F&A BPO, Insurance BPO and Healthcare Payor BPO. HFS subject matter experts use the rate card data to tailor a response to a specific pricing inquiry.
HFS analysts provide clients with valuable knowledge and coaching to steer them away from relying primarily on "rate-card" FTE pricing, and to evaluate more strategic pricing methodologies, namely outcome-based and transactional-based approaches. HFS analyst experts are available on-call to provide informed strategic guidance to our clients through ongoing pricing research that incorporates labor-based, transactional/volume-based and outcome-based pricing strategies.
What is included
- 11 Pricing Work Categories – F&A
- 11 Pricing Work Categories – Healthcare
- 9 Pricing Work Categories – Insurance
- 13 input-based pricing roles - ADM
- All major sourcing markets and geographies
HFS Research defines BPO as a service provided by a supplier external to a customer whereby the supplier manages a customer's business function or set of business functions using supplier employed staff. The element that makes the arrangement outsourcing is the suppliers' management of the process. They are not implementing or advising the client, they are managing the operation of a business function or set of business functions.
F&A and Procurement BPO includes these individual subprocesses separately or as a group:
- Order to Cash (accounts receivable)
- Expense management
- Purchase to pay (accounts payable)
- Record to report (general ledger and reporting)
- Financial management (financial analysis and budgeting)
- Risk and compliance (cash management, treasury management, risk management, tax)
Healthcare and insurance include these individual subprocesses separately or as a group:
- Claims processing
- Customer acquisition
- Policy administration
- Policy exit
- Application Development (includes the definition, development, testing and documentation of 1) a new application or 2) customization of software prior to roll-out. The process includes requirement analysis and planning, software evaluation/ selection, prototyping, coding, testing, and implementation.)
- Application Management (includes the modification of software to maintain or improve the program through regular version updates, bug- fixing, feature addition, database administration, and performance tuning. The process includes requirement analysis and/or identification of bugs, designing, implementation, testing, and final delivery.)
For more details, download the PDF describing the full methodology.
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