Outsourcing is widely accepted across a wide spectrum of industries, be it education or travel.
Herein, healthcare industries comprising of a chain of hospitals and clinics are not lagging anywhere to pedal on this bandwagon.
It is quite true that business of every hospital is to provide quality care and address the needs of patients in an efficient manner.
However, one issue that every hospital is struggling with is patients’experience in context to the billing issues after (and most of the times, before) their specific treatment.This hampers the reputation of the health care service providers.
Therefore, they should allocate this business function to an outside vendor who can perform this task with utmost proficiency. There are thousands of outsourced call centres across the globe which assist various healthcare service providers in conducting their billing and other non-core functions.
According to a research conducted by Ponemon Institute, including 577 health care professionals in the U.S.A., it has been revealed that physicians and hospitals are in the digital dark turf when it comes to using latest mobile devices and technology-oriented services to deliver optimum healthcare services.
As a result, hospitals are struggling with security and privacy concerns. In fact,the root cause of all these situations is financial inadequacy. At present, healthcare systems are worried about their bottom lines and they seek expert assistance to address the cost concerns. Well, turning to a cost-optimal way is necessary to thrive into the booming healthcare sector where one can earn huge profit.
Medical billing issues
Given below are the two most common factors that contribute to loss in the healthcare services.
From various researches, it has been estimated that upto 80% of medical bills lack accuracy, which means that they contain errors. As you are aware of the fact that insurance companies are very strict regarding accuracy of medical billing and coding procedures, healthcare systems must ensure that billing reports are free from errors and discrepancies.
Failure to manage in concord to billing rules and regulations
As rules are changing depending upon market scenarios, it is required that physicians and administrators spend more time and make every possible effort to educate and train staffs so that a profit flow can be maintained.
In lieu of the above listed facts that no one has been able to make the significant improvements in this industry, an outsourced call centre with pool of erudite staffs proves to be the most prudent option for entire hospital systems. Now, it is the time to know how outsourcing helps in healthcare industries.
- Outsourcing call centre service providers offer top-notch billing services at cost-effective price range. Most of the billing services are charged on percentage basis which means that they will only charge a percentage of the total revenue that they are nurturing for your company. In addition, outsourcing vendors have expertise in faster collections and resubmitting claims.
- Setting up an on-premise billing department becomes expensive for your clinic. It requires hiring of new candidates, costs of training, employee’s wages, benefits and the compensation for turnover. Hiring experts from the trusted vendor layoffs these expenses since they have trained employees.
- When it comes to billing expertise, outsourcing is the most potent option as such companies have extensive years of experience and domain expertise in delivering billing services. Expert professionals working in the call centres have billing and coding expertise to handle the overall process efficiently.
- Certified billing outsourcing companies are compliant with the latest health care laws such as HIPAA and Health Care Reform bill, which guarantee that laws are followed while accomplishing the task of billing.
- With proactive technique and efficient approach of creating medical billing by the outsourcing service provider, hospitals now focus on providing the best healthcare services. Hiring experts eliminates the costly errors that somehow interfere with the ability of hospitals to provide quality patient care.
- Patients who are not qualified for medical aid and have no medical insurance can get the tremendous benefits as outsourced call centre service providers can often assist those patients regarding the medical policy benefits in the best way.
- Creating a collaborative and impeccable billing experience for patients can help hospitals in improvising the bottom line. Also, it helps in predictable cash flow, increased total revenue without breaking customer satisfaction.
In the bottom line, outsourcing services help healthcare industries to a great extent in reinforcing the core values.In addition, it eliminates the overhead expenses and increases the revenue streams.