Karvy Global  | Newsroom

JULY 2006

KARVY Global Services Achieves Health Insurance Portability and Accountability Act (HIPAA) Certification

The Company's Outsourced Healthcare Processes Are Now Compliant with HIPAA Standards to Guard the Privacy of Their Patient's Protected Health Information

July 24, 2006
Hyderabad, India and New York

HYDERABAD, India & NEW YORK--(BUSINESS WIRE)--July 24, 2006--KARVY Global Services Limited, the Business Process and Knowledge Process Outsourcing subsidiary of KARVY, the largest integrated financial services institution in India, today announced it has been recommended for the Health Insurance Portability and Accountability Act (HIPAA) certification. Based on its compliance with the national standards for guarding the privacy of a patient's Protected Health Information (PHI), electronic health care transactions and national identifiers for providers, health plans, and employers, this certification has been awarded to KARVY Global Services across its outsourced business and knowledge process outsourcing services in the US healthcare and health insurance domains.

"If healthcare companies desirous of outsourcing are concerned with the security of data and information, well, so are we," said Arthur Flew, CEO of KARVY Global Services. "Ensuring that processes and personnel are compliant with global standards such as HIPAA and ISO 27001:2005 (formerly BS 7799) is an anticipated response to client needs."

The requirements of the certification were audited by Det Norske Veritas (DNV), an independent international provider of services for managing risk, certification and registration. HIPAA compliant services are essential for all companies that deal with healthcare industry needs. Healthcare companies are expected to comply with the regulations handling electronic information about patients. HIPAA outlines how patient information must be collected, used, maintained and transferred.

"Becoming HIPAA compliant was a natural progression for KARVY Global Services, which has a reputation for its emphasis on security and a firm financial foundation that allows it to invest in the kind of technology required by such far-reaching security standards," continued Mr. Flew.

HIPAA highlights stringent security measures that secure the data and information of customers in the healthcare industry. By focusing on information security through the use of consistent process methodologies, companies are able to provide a secure environment for delivering high quality services. KARVY Global Services is also certified for ISO 9001:2000 for its Quality Management Systems (QMS) and ISO 27001:2005 for its Information Security Management Systems (ISMS).

About KARVY Global Services

KARVY Global Services is the Business Process and Knowledge Process Outsourcing subsidiary, of KARVY, the largest integrated financial services institution in India. KARVY is ranked in India as the number one registrar, the number two depository participant, one of the top five brokers and the number five investment bank.

As the first third party Indian BPO to receive its ISO 27001-2005 certification, KARVY Global Services provides a full range of Finance and Accounting Outsourcing (FAO - Accounts Payable, Accounts Receivable, Billing, GL Services, Purchasing, Reconciliation, Fixed Assets), Transaction Process Outsourcing (TPO - Back Office Processing for a range of industries including Insurance and Healthcare), Knowledge Process Outsourcing (KPO - Research and Analytics), Human Resources Outsourcing (HRO - Payroll Processing, Benefits Administration, Records Management, Compliance Reporting), and Voice and Technology Support Services (VTO - Inbound and Outbound Call Center Services, Helpdesk Support, Technology Development and Application Hosting).

Headquartered in Hyderabad, India, with three global delivery centers in Hyderabad, KARVY Global Services also has business development offices in New York, Los Angeles, San Francisco, Toronto, London, and Zurich. Additional information on KARVY Global Services is available at www.KARVYGlobal.com.

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