Advantages of BPO Healthcare Outsourcing

Healthcare is one of the biggest industries in the world. The main function of healthcare is diagnosing and treating patients and to achieve this, the primary goals that healthcare organizations focus on is maximizing staff efficiency and delivering excellent patient care. But providing excellent patient care requires a lot of investment on resources and manpower. Moreover, staff members are asked to work in a wide range of areas which are out of their area of expertise. Healthcare organizations must make an effort to balance the number of non-care responsibilities a staff member can handle so that quality patient care can be provided. Healthcare BPO companies have emerged as a ray of hope for most medical companies who have always struggled to manage their services with ease.

In a healthcare outsourcing process, an external party is asked to handle the healthcare provider's non-core activities. Instead of working by themselves, the healthcare organization hires a team of experts to complete the desired job for them. 

Some prefer outsourcing it to a dedicated and well-recognized firm other prefer to get the job done by freelancers. It is expected that the growth rate in healthcare outsourcing would be more than 10% between 2019 to 2024. But does anyone know why do they do this? 

The prime reason being the concern of the healthcare division which is rendering excellent patient care above all. Outsourcing services like outbound call center, appointment booking, order taking services, medical billing and coding services, medical data entry and record indexing services and chat support services help the healthcare providers to completely concentrate on what they are best at i.e. attending their patients efficiently.

Let’s look at a few common healthcare BPO outsourcing services:

Medical Coding and Billing- We all are aware of the everyday medical records that compile up with the hospitals and healthcare specialists and unlike other coding and billing these records are quite complicated. Hence one needs an expert in it that is familiar with the scientific codes such as ICD, CPT, and HCPCS. Without appropriate knowledge of these codes, one would face significant errors and delays in processing the bills and records. With outsourcing, one would find trained staff and professionals who would be well-equipped with the essential resources to perform their jobs preciously and systematically. You can then focus on medical research and treatment.

Medical Claim Processing- Processing patient's claim is even a critical healthcare issue. The patient needs to have an adequate and authentic medical claim from authorized insurance companies. But it would be hard to process these multiple claims in a single day with absolute accuracy each time. 

To ensure accuracy, one could outsource it to the skilled and highly advanced healthcare BPO outsourcing companies. One can even assure the accuracy of these claims when these outsourcing agencies are dealing with it, as it is the only area, they have expertise with.  

Data Entry Services

Apart from treating patients, processing, and upgrading large volumes of medical data such as tests and lab records, insurance details of patients, prescriptions and drug inventory could be a few amongst the many data entry requirements of the healthcare sector. Hence outsourcing these services will free up your precious time and means for other core activities. It is even the simplest and safest option to outsource but when outsourced to an authentic service provider.

Benefits of hiring a healthcare outsourcing company

Enhanced profitability- Aforementioned, it is one of the most fruitful advantages for the healthcare industry as it helps them cut around 45% of the expense which otherwise would have been spent on in-house resources. Outsourcing has created a path to low-cost labor and infrastructure which could bring in huge savings for healthcare organizations and intensify their profit growth. 

Easy access to a skilled human resource- Besides cost, this tends to be the second-most reason for BPO Healthcare Outsourcing. The skilled workforce is ready to take projects of different sizes and complexities. This particularly has worked for our country's advantage because in comparison to the other nations we have an excess of highly trained professionals. They assure that the best care is taken of the client's need without managerial hassles.

Expand practice offerings- Outsourcing would help an organization be more competitive in its operations and frame its image internationally. Various companies that have outsourced their healthcare BPO's have routed to varied locations internationally.

Helps the healthcare sector in avoiding regulatory concern- With outsourcing, one also outsources all rules and regulations attached to it and their prospect. But the service provider should ensure that the personnel trained for the role should be well-equipped to deal with changing rules, laws, and guidelines. 

Improves patient’s experience- As healthcare BPO allows companies to focus on providing better patient care, patients also benefit from it. As your staff is no longer managing tons of different activities, they’ll be able to dedicate more time to patient care.

Beneficial in avoiding data entry errors- A minute error in the medical record of a patient could prove to be critical for the healthcare business. But outsourcing firms adhere to their stringent rules and regulations and ensure that the patient's record remains safe and confidential. They would even help in eradicating business errors.