Outsourcing: Jason Beans, Founder and CEO of Rising Medical Solutions (Part 2)

SM: Tell me more about how you deliver that service. What do you need in terms of your workforce? What do you tackle in technology? What do you tackle in human resources?

JB: It’s a very hybrid model. It’s a half technology, half service model. We have a team of, say, 40 or 50 technology people in our Chicago office. We’ve recruited people from Orbitz and the Accenture consulting side and some very senior people. We’ve built out the ability to take out electronic billing from doctors, run it through an engine, route medical data to our clients or to patients to approve, route payment data electronically back to the doctor or to a check printing center if the doctor can’t take ACH. >>>

Outsourcing: Jason Beans, Founder and CEO of Rising Medical Solutions (Part 1)

Health care costs can be prohibitive, not only for the average citizen but for employers and insurance providers, too. Rising Medical Solutions, a Chicago, Illinois-based company, works with insurance providers to help keep health care costs down without sacrificing the quality that patients receive. Their specialities include medical bill review, hospital bill review, care management and provider negotiation, among others. >>>

Outsourcing: Sanjay Dhawan, CEO of Symphony Services (Part 7)

Sraman Mitra: The point I’m trying to make is that there is a filter, and you’re making these bets with a lens in mind. Your end goal is to use these companies to get into larger companies that will acquire them. What I’m talking about is a scale of one million entrepreneurs reaching $1 million in revenues. Many of these companies will never get acquired. These are going to be cash businesses. These are little businesses that will be maybe $2 million, $5 million businesses and they will remain that. Nobody will ever acquire them. >>>

Outsourcing: Sanjay Dhawan, CEO of Symphony Services (Part 6)

SM: That’s exactly my point. You can, if you go into a niche that is an up and coming niche that is potentially underserved and you develop core competency – the real operating words are core competency.

SD: Yes. Their story, their focus was very UI and design focused. Immediately before this, like I said, I ran Aricent as its president. We had a similar model in previous company. I don’t know if you’ve ever heard of a company called Frog Design, which is one of the largest design companies in the world. They helped Steve Jobs design his first Mac. The original Mac design was done by Frog Design, and they were owned by my previous company. So, I have followed that whole life cycle of combining design with development. I think that was a niche that Globant started. Once you get your foot strongly placed, then you start achieving scale. >>>

Outsourcing: Sanjay Dhawan, CEO of Symphony Services (Part 5)

Sramana Mitra: You can set up a 1,000-person operation in a certain region, especially if you run your own university. I don’t think that should be a problem.

San Dhawan: Right.

SM: There are two other topics I want to explore. One is, how do you go from a $200 million to a $1 billion company, assuming that’s your objective? >>>

Outsourcing: Sanjay Dhawan, CEO of Symphony Services (Part 4)

SM: You’re located in Bangalore?

SD: The main sites are Bangalore and Pune, but we do have satellite offices in Mumbai and Delhi, Gurgaon.

SM: Is there any thought in the company to look at other cities, more heartland cities, lower cost destinations?

SD: Within India, do you mean? >>>

Outsourcing: Sanjay Dhawan, CEO of Symphony Services (Part 3)

Sramana Mitra: Do you sometimes do product development work for smaller companies for equity?

Sanjay Dhawan: We did … not for equity per se, but it would be more from a risk and reward standpoint. We structure the engagement model where a portion of the payments are tied to either achieving certain outcomes or a portion of the payment is revenue share, that type of stuff.

SM: Switching to your 4,000-people operation, is that all in India? Is the development team largely or entirely in India? >>>

Outsourcing: Sanjay Dhawan, CEO of Symphony Services (Part 2)

Sramana Mitra: Let me ask my question again now that you’ve provided context that would be helpful for our readers about what you do. Let’s say Salesforce.com or IBM or a company like that is trying to make a decision about what are they going to build in-house and what are they going to outsource to an OPD (outsourced product development) player. How do they make that assessment, and what have you learned in your business with them? >>>