Hinduja Global spurts after recovering $1 bln in denied insurance payments

Hinduja Global Solutions jumped 6.98% to Rs 598 after the company said it has recovered one billion dollars in denied insurance payments on behalf of healthcare systems.

Hinduja Global Solutions (HGS) said it is a major milestone in what are some of providers' toughest claims. The average hospital costs must fall 24% by 2022 in order for healthcare systems to break even, a recent BlackBook Market Research LLC survey found. By getting denied insurance claims adjudicated, properly appealed and collected, HGS is able to contribute up to 5% to healthcare systems' bottom line.

Having strong relationships with both payers and providers, HGS brings unique and in-depth expertise to provider revenue cycle management. To-date, the company has collected more than $3 billion in accounts receivable on behalf of healthcare systems. The announcement was made after market hours yesterday, 5 September 2019.

On BSE, 872 shares were traded in Hinduja Global Solutions counter, compared to a 2-week average of 156 shares. The stock hit an intraday high of Rs 611.80 and an intraday low of Rs 591.

It hit a 52-week high of Rs 911.40 on 10 September 2018 and a 52-week low of Rs 535 on 22 August 2019.

Hinduja Global Solutions is engaged in business process management. The company's principal activity includes information technology (IT)/IT enabled services (ITES) - business process outsourcing (BPO).

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