The healthcare industry, being one of the most crucial industries, is ever-growing. And like every other growing business, it has begun to reap the benefits of outsourcing services. Medical institutions have seen an increasing need for assistance in managing their clients, workforce, and business functions. The philosophy of “Do what you do best, and outsource the rest”, highlights the importance of generating tangible business value in innovative ways.
The healthcare BPO market is currently valued at US$ 232.33 billion, according to market analysts. Global healthcare outsourcing is projected to grow at 9.81% annually in the next five years and this only goes to prove the trust placed in it by healthcare organisations.
Let’s have a look at some of the key aspects of healthcare outsourcing services:
- Medical billing – Since medical billing is complicated due to various medical codes and terminologies used in coding different medications and treatments, outsourcing this function helps deal with the arduous task of processing huge volumes.
- Healthcare support – Healthcare call center is a 24/7 business and therefore, outsourcing helps in providing uninterrupted customer service.
- Transcription of medical diagnosis – Outsourcing the function of medical transcription and creation of patient reports helps manage the workloads of transcriptionists.
- Processing claims – Outsourcing the function of verification of insurance claims to a reliable team goes a long way in easing workloads of the staff.
- Generation of leads – A healthcare call center is trained to generate leads and turn them into customers in short periods of time.
Reliable outsourcing partners, like us, can put in the time, effort and world-class facilities that you need. This way, you get an experienced partner to assist in your non-core, yet crucial functions.
Why should you outsource your organisation’s healthcare services?
- Reduced costs of operation
Competitive pricing and outstanding service play a crucial role in the healthcare industry. Therefore, reducing operational costs is pivotal. When outsourced, the process of hiring employees, providing benefits, training, space and equipment can be eliminated. Outsourcing gives you access to up-to-date knowledge without the expenses that come with an in-house operation.
- Focus on core business function
When ancillary processes are outsourced, your organisation can further redirect those resources towards core business functions, which happen to be high value-generating activities. Greater focus on patient care will help you build a good brand value and in ensuring sustainability and long-term success.
- Scalability
With the huge scope for flexibility that it offers, your organisation can customize the levels of outsourcing. You can choose to outsource a part of a business process or also in its entirety.
- Access to experienced partners
One of the main benefits of outsourcing is the availability and access to expert skills, which can prove to be expensive to hire in-house. It provides you with an option of experienced and skilled medical professionals as a service.
- Reduced billing errors
Accuracy is of utmost importance in the medical field. So much so, a single error can impact the diagnosis or treatment. Medical professionals who undertake the administrative tasks themselves, tend to create these errors. Outsourcing these tasks takes a huge burden off these practitioners and the outsourced team can help reduce these errors in creating reports and prescriptions for their patients.
- Better compliance
Outsourcing ensures compliance with standard practices. This will assist you in reducing the burden of training in-house personnel for additional compliances.
- Increases productivity and profits
When you outsource your secondary business functions, you will have enough time to focus on business productivity. Increasing the quality of service is easy after outsourcing as the core business is put in the limelight, which help in boosting profits.
- Improves patient satisfaction
When you outsource, you can afford to focus extensively on patient care and improving their satisfaction levels. Errors are identified quickly; reimbursements are processed sooner, and in-house healthcare practitioners can solely focus on delivering excellent patient care.
- Dependability and continuity
In the case of hospitals that only hire in-house staff, the non-availability of an employee due to extended leave can jeopardize an entire function or service. Outsourcing will provide your organization freedom from depending on one person to achieve your goals, thereby reducing the risk of dependability. Moreover, when you outsource, you will reap the benefits of talent and expertise outside your geographical limitations.
The pros of outsourcing are numerous, especially in the current business environment. With the forced introduction of remote working in the recent months and the ever-increasing demand for health-related services around the world, now is the apt time for healthcare organisations to take advantage of outsourcing options. According to a survey conducted by Black Book Research, 92% of hospital leaders have intensified their strategic planning on outsourcing. With the financial challenges that many hospitals face, it is highly recommended that they embrace outsourcing – an out-of-the-box solution for the healthcare industry but widely recognized by other industries as an effective and profitable method of conducting business.
As the world ventures into a post-pandemic environment, medical organizations will have a wider range of options for healthcare call center. In the long run, maintaining a balance between industry and patient needs is best achieved by outsourcing healthcare call center services.