In this pandemic that is raging across the globe, healthcare workers are overburdened with thousands of patients to look after every day. There is a severe shortage of necessary equipment like PPE kits, masks, oxygen cylinders, hospital beds, and medical staff running back and forth to arrange them for patients in need. Currently, there are 138 million cases of coronavirus worldwide and coupled with the aging population, we have a significant health crisis on our hands. In the United States alone, there have been 565,000 deaths so far, and the numbers are only going up.
The situation is very grim, and this situation could get worse for the hospitals when there will be a mismatch of accounts or health insurance claims are denied. Patients are always the top priority for any medical institution, and secondary jobs like medical billing come later. When there is already a huge burden on staff, jobs like this could get extremely tough to maintain. In this situation, hospitals need to outsource their medical billing and transcription services to healthcare BPO providers.
What are Healthcare BPO Services?
Healthcare Business Process Outsourcing, also known as healthcare BPO services, means outsourcing a healthcare provider’s non-core activities to an external agent. These healthcare BPO providers provide support to the medical institutions through activities like billing, coding, and transcription. With an increasing demand for healthcare services during the pandemic, it has become vital for hospitals to ensure an efficient system and better customer treatment. With the healthcare emergency warrants like the coronavirus crisis, a systematic check is required for the operational capabilities of a medical institution.
It is essential to predict the problems that could arise in the future, especially with this ongoing health crisis; it has become necessary to predict when there could be a sudden spike in cases. In this situation, hospitals need to concentrate on patients and not on their insurance providers and medical billing. Even though there has been a massive improvement in the customer interaction forum, there is still room for improvement. Customers do not view pharmaceutical companies and medical insurers as customer-centric, and it is the duty of the hospitals to reduce the negative connotations surrounding the healthcare brands.
Research conducted by Salesforce concluded that around 47% of healthcare institutions focus more on the industry needs than the patient needs. It is time to introduce seamless and proactive patient and doctor interactions, and this is where healthcare BPO steps in. On average, more than 70% of patients at healthcare institutions owe at least $500, and more than 45% of patients owe more than $1000. healthcare BPO outsourcing steps in here and does these jobs at a fraction of the cost when compared to the in-house accountants.
What are the Common Types of Healthcare BPO services?
The healthcare BPO handles and maintains primarily three types of Healthcare BPO services. The BPO sectors handle activities ranging from data entry to covering insurance claims, and some key services that you can avail from Healthcare BPO are as follows.
- Medical Coding and Billing
Healthcare institutions process a lot of medical records and bills every year, and with the number of patients increasing in this current period, medical coding and billing have become a mammoth of a task for healthcare providers. Medical staff is more concerned with the well-being of a patient, and this means that there is less staff available for secondary work like billing. This task itself is massive and needs healthcare BPO to step in.
Healthcare outsourcing services are efficient in their jobs, and they can complete the medical billing at a fraction of the cost when compared to in-house staff. This, in turn, lets the hospitals focus more on the patients, medical research, treatment, and customer services.
- Medical Claims Processing
This is a critical aspect of a healthcare institution as patients require proper medical claims from their insurers to get treated at a hospital. In this bleak situation across the globe, thousands of claims need to be processed every day. It is pertinent to maintain accuracy in the case of claims, and appropriate manpower and resources are required to do that. This is a massive task in the face of a pandemic.
This is where healthcare BPO’s need comes in. The BPO services have appropriate resources to handle a large volume of claims that are processed every day. Since this is the only thing that they are focusing on, hospitals can focus on maintaining a great doctor and patient relationship without the worry of claims processing clouding them at all times.
- Data Processing
Hospitals need to update their patient records from time to time, and in the situation of a pandemic, there is a large number of patient data that needs to be processed day in and day out. This is a tedious job, and the medical staff is already overburdened in the face of the crisis. Not only patient data, but hospitals have to take care of lab reports, drug inventory, insurance details of the patients, and hospital records. This is a large volume of data and requires the assistance of healthcare BPO outsourcing.
Outsourcing the data processing services will help the hospitals in getting extra time to tend to the patients and focus on the core activities. This is the simplest way to get the work done without putting an extra burden on staff, and on top of that, outsourcing is more cost-effective than hiring in-house staff to do the tasks.
Reasons and Advantages on Why You Need to Outsource Your Healthcare BPO Services
With the right healthcare BPO providers, the task of outsourcing healthcare services becomes easier and efficient. Outsourcing also allows medical institutions to grow at a faster pace, and they are able to provide exceptional medical attention to their patients. With the growing trend of outsourcing to healthcare BPO services, there has been a steady increase in customer satisfaction, as revealed in a study by PwC, which showed that 49% of customers say that their overall experience in the healthcare sector has been satisfactory. Leveraging this growing trend has benefited both customers and medical institutions.
Some of the reasons to opt for healthcare BPO are as follows.
- Focus on patients and medical research
Secondary jobs like billing, data entry, inventory, and insurance claims processing are time-consuming tasks, and it overburdens the medical staff for no reason. Outsourcing these tasks to healthcare outsourcing services reduces the overall burden on the medical staff, and this allows them to focus on the core activities like medical treatment and research. Handing over the secondary tasks to outsourcing companies can enhance the doctor and patient relationship.
Even though it does not look like a major reason, it could be a game-changer for hospitals trying to move their expenses to focus on the patients. Healthcare BPO can reduce the operational expenses so that medical institutions won’t have to hire and train in-house staff to do the mundane jobs. The savings can be used to enhance the existing health support.
- Quality Care
The savings that the hospitals acquire by outsourcing the medical coding and billing services are used to provide quality care to the patients and expanding the existing resources. Even the staff is less burdened, so they focus their time and energy on taking care of the patients. In this pandemic crisis, every hour saved is essential for the ailing patients.
- Avoid Mistakes
In the healthcare sector, every little detail is essential. Hospitals need to maintain patient records, medical information, and customer privacy. On top of that, hospitals have to process medical insurance claims and navigate through the rules and regulations of each insurance provider. These tasks, in addition to taking care of the patients, often overburden the staff, and there are chances of human error. The right Healthcare BPO can easily take the tasks like billing and processing medical insurance claims from the hospitals.
- Access to Experts
Partnering with the right Healthcare BPO can add value to the medical institution as the outsourcing will help the hospitals gain access to the experts in the industry who are professionally trained to handle the tasks of data processing and medical transcription. By seeking their services, medical institutions can save operational costs and reduce the burden of the additional tasks on their medical workers.
Traditionally, making appointments and medical billings were done by the physicians, but now the times have changed. Medical practitioners and hospitals have their own portal and mobile apps through which the patients can check their reports and make appointments instead of calling. Hospitals have now turned to healthcare BPO outsourcing to communicate with the customers to make the appointments, check the drug inventory, be up to date with their billings, and process the insurance claims. Some of the advantages of outsourcing medical services are as follows.
- Consistent Consumer Experience
In this time of the pandemic, consumers face inconsistent experience from medical staff, which makes them question the professionalism and the service offered by the hospital. This leads to complexity, and according to a study conducted by Accenture Global Customer Pulse, 72% of customers feel dissatisfied by the inconsistent services provided by the hospitals. An omnichannel Healthcare BPO takes care of this issue by taking care of the secondary tasks, enabling healthcare workers to focus on delivering core quality patient experience.
- Proactive engagements and appointments
Hospitals can improve the gap between them and their customers by providing them the information even before they need it. This means that the medical channels can connect with their patients through various channels like SMS, emails, and voice calls. With the help of these channels, hospitals can notify their customers about their scheduled appointments, file deadlines, provide updates, and offer additional information. Healthcare service providers can anticipate the next step in the process, and they can help to insert valuable content and help the customers connect with an agent who will be able to help them in their queries. These services provide easy access to the customers, and on-time appointments resolve the burden faced by the medical staff as well.
- Better Interaction
Healthcare BPO outsourcing keeps track of the patient records, which helps the healthcare providers have better communication and interaction with the patients. This track record creates a roadmap for the medical staff to understand the issues of their patients properly. The Healthcare BPOs generate a data feed where they gather the information of each patient into a repository, thus creating a singular access point for all the relevant data. It also resolves the disputes arising between the medical institutions and the patients.
How to Choose the Right Healthcare BPO services?
Healthcare BPO outsourcing can make a significant change in your operational cost. Here are some factors you should consider before choosing the exemplary service.
The BPO you choose needs to reduce your operational costs. You can calculate this by estimating the cost of hiring and training in-house staff and checking the cost of the Healthcare BPO service. You can save a considerable amount of expenses by hiring a good BPO service.
- Latest technology
The healthcare BPO needs to be updated with the latest technology to make the turnaround time faster. The service needs to process insurance claims more quickly, do the medical billing efficiently, and they should keep track of all the patient records. The infrastructure should be well maintained and have backup power without any data loss or customer service interruption.
- High-quality service
The service needs to be top-notch, and for that, you should rely on the reviews left by the previous customers. The BPO should analyze the current service requirements by the clients, refine, and bring new methods to improve the quality of their customer service.
- Professionals and industry experts
When you are outsourcing your requirements to another company, you should check that they have the best-trained staff in their team who can make your work easier and can process the claims efficiently so that you can make a decent profit. Their efficiency needs to be top-notch, and you shouldn’t lose customers because of the mistakes.
- Data security
When an outsourcing company is keeping a record of all the patients along with their personal details, you need to check whether they have data security or not. The database should be secure, and their motto needs to be confidentiality and security.
- Customer support
The BPO should mirror your customer’s concern and needs to be efficient when it comes to dispute resolution. The company should be able to provide an omnichannel experience so that your customers do not face any trouble.
Want to Leverage the Best Healthcare BPO Service?
Flatworld Solutions offers medical billing, insurance eligibility verification, medical claims processing, medical transcription services, medical animation, and clinical services at low costs with no compromise on quality. We are industry experts in 3D medical animation with proficiency in medical illustration.
Apart from that, we have a team of clinical experts who will be able to provide you with a seamless process within a short period of time. We have transcribed more than 4,968,000 lines with 288,000 demo entries. We are the industry leaders in outsourced healthcare services, and we can take your business to new heights.
Contact us if you would like to avail our services!
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