TeleTech Expansion Reflects Growing Demand in Healthcare Industry
Complex Industry Driven by Increased Consumer Choice Requires Personalized Customer Experience
DENVER, Nov. 11, 2014 – In recent years, the healthcare landscape has changed radically and rapidly. As a result of increased need for customer experts to service the healthcare industry, TeleTech Holdings, Inc. (NASDAQ: TeleTech), a leading global provider of analytics-driven, technology-enabled customer engagement solutions, has created more than 3,000 U.S.-based jobs in the past 18 months and opened six customer experience centers.
Today’s consumers not only have more healthcare options, but more complexity as well. The Affordable Care Act in the U.S. has put consumers in charge of their healthcare, changing the dynamics of the game. Healthcare consumers have very different needs and varying levels of understanding about their options, but all share the same expectation of seamless interactions with the providers from which they buy these services. For businesses to compete and thrive in today’s consumer-driven marketplace, healthcare companies have to figure out how to better serve customer needs with improved efficiency and reduced costs.
“The old ‘one size fits all’ model could not be further from the truth for the healthcare industry today. Consumers have a myriad of choices and they need help making the right decisions for them and their families. The ability to understand and respond to the unique needs of each individual is a true differentiator in this market,” said Pat McCaffrey, senior vice president, Healthcare Client Business Unit at TeleTech. “Through the right combination of consulting, technology and services, we have a tremendous opportunity to help our healthcare clients provide a personalized experience to their customers.”
As the healthcare industry continues to expand, TeleTech has partnered closely with communities across the U.S. to bring job opportunities to their residents through new customer experience centers dedicated to healthcare support. In the last five months alone, TeleTech has opened the doors of sites located in Jonesboro, AR, Sherwood, AR, and Paducah, KY. These new sites join centers in Ennis, Texas, Melbourne, FL and Hopkinsville, KY that were first opened in 2013, to create hundreds of additional jobs in 2014.
According to industry analyst firm NelsonHall, global healthcare BPO is expected to grow at an average of 8.6 percent and reach $31.5B by the end of 2018. “TeleTech has a diverse portfolio of clients across multiple segments of the healthcare industry, including health insurance payers, U.S. government programs, specialty pharmacies, and a laboratory supply and distribution company,” said Vicki Jenkins, NelsonHall Industry Analyst. “In 2013, healthcare represented 7 percent of TeleTech’s revenue. With volume expansions in existing clients, and additional new signings in 2014, that proportion looks to become significantly larger very soon.”
TeleTech, founded in 1982, is a leading global provider of analytics-driven, technology-enabled customer experience solutions. The Company offers an integrated platform that combines consulting, technology, care and growth services to simplify and personalize interactions that build deep engagement between people and brands. This holistic, multichannel approach improves customer satisfaction, increases customer loyalty and drives long-term profitability and growth. From strategic consulting to operational execution, TeleTech's over 42,000 employees speaking over 50 languages deliver results for Global 1000 clients in the automotive, communications and media, financial services, government, healthcare, technology, transportation and retail industries. Through the TeleTech Community Foundation, the Company leverages its innovative leadership to ensure that students in underserved communities around the globe have access to the tools and support they need to maximize their educational outcomes. For additional information, please visit teletech.com.