It is not exactly a secret that healthcare is expensive, and healthcare costs are continuing to rise. As a result, healthcare outsourcing is being seen as an increasingly viable strategy. According to published statistics, the average cost of health insurance in 2020 per month was $1,152 for a family and $456 for an individual. Unfortunately, these costs will only continue to rise. A number of short-term factors, such as the coronavirus pandemic and the resulting economic strife (such as inflation), have led to increased expenditures that could result in rising insurance premiums and expenses. As a result, healthcare organizations are looking for ways to save money, and this could include outsourcing.
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Why Is Healthcare Outsourcing Becoming More Viable?
In the past, hospital systems and medical centers may not have dreamed of outsourcing their services; however, this has become a viable option for a number of reasons. They include:
- Business outsourcing processes have changed, leading to a reduction in costs and more reliability from service providers.
- Digital medical delivery models have been implemented, making it easier to administer healthcare across any distance.
- Data security has improved, making it possible to share protected patient information between covered entities and service providers, when needed.
For these reasons, many healthcare systems are exploring the possibility of using outsourcing to control the rising costs associated with the services they provide.
Understanding Healthcare Outsourcing
Healthcare outsourcing, including healthcare management and BPO processing, is increasingly vital in the medical industry. It’s a strategic approach where healthcare providers delegate some services, like billing, coding, and healthcare answering service, to specialized medical outsourcing companies.
Through technology, the outsourcing industry enhances services in various health settings, from hospital environments to telemedicine. This method not only offers significant cost savings but also allows providers to focus more on patient care over administrative tasks.
Key benefits also include expert resources access, risk management, speedier service delivery, and the rectification of in-house professional deficits. Outsourcing can streamline operations, improve efficiency, and boost service quality, positively affecting patient health outcomes.
Benefits of Healthcare Outsourcing
Healthcare companies may enjoy several significant benefits if they decide to outsource certain products and services. They include:
- Outsourcing provides access to specialists and professionals in certain fields at a lower cost.
- Outsourcing services to specialists in this area can make processes more efficient and productive.
- Outsourcing to a specialist in certain areas can dramatically improve patient experiences, patient care, and patient outcomes. When healthcare companies work with companies that specialize in certain areas, they get access to staff members who are more comfortable performing these tasks. This leads to better results.
- Healthcare outsourcing for appointment scheduling offers a 24/7 service, ensuring easy and round-the-clock access for patients to schedule appointments.
- Outsourcing makes it easier to scale certain resources. For example, if a hospital needs to run certain tests, they can outsource these tests to an organization that performs them regularly instead of having to purchase all the equipment on their own.
- Healthcare companies that outsource to specialists in certain areas work with professionals who are familiar with all rules and regulations. This reduces regulatory liability.
- Hospital systems can also reduce the amount of time they spend doing mundane, administrative work by outsourcing these tasks to specialists who perform them more efficiently.
Ultimately, the biggest benefit of outsourcing in healthcare is that it can both improve outcomes and reduce expenses. With many hospital systems looking for ways to provide better patient care at a lower price, expect outsourcing in the healthcare field to become more common in the near future.
However, it’s vital to embark on this journey with a reliable partner in order to fully reap these benefits.
The Challenges with Healthcare Outsourcing & How to Overcome them?
There’s no doubt that healthcare outsourcing and medical outsourcing are transforming the way the healthcare industry operates. In spite of its potential benefits, the outsourcing industry faces significant challenges to its mainstream acceptance. The main issues include data privacy concerns, high costs, quality of care, and the need for dedicated resources to manage outsourcing relationships. Let’s explore how we can overcome these challenges.
1. Providers must measure the effect of healthcare outsourcing on costs.
While outsourcing does incur costs, you must weigh these against the potential benefits. These benefits often include reducing operating costs, accessing specialized services, and freeing up in-house resources. Hence, if implemented correctly, healthcare outsourcing should be a cost-effective strategy.
2. Maintaining the privacy and integrity of data is a huge concern in the healthcare outsourcing industry.
To overcome this, providers must ensure that the outsourcing provider has robust data protection measures in place. Regular audits and quality checks are essential to ensure ongoing compliance. The role of PatientCalls here is crucial as an experienced and trusted provider.
3. The quality of care must not be compromised.
In the healthcare BPO industry, care delivered by remote teams should match or even exceed the care provided in-house. Providers should implement strict quality checks to ensure that the care delivered meets prescribed standards. Regular feedback and reviews are also integral parts of maintaining quality.
4. Managing outsourcing relationships requires dedicated resources.
Not all healthcare providers have the experience or resources to efficiently manage BPO outsourcing. Drawing on the extensive experience of an outsourced healthcare provider like PatientCalls can provide invaluable guidance and support.
Notwithstanding the challenges, more and more healthcare providers are realizing the potential of healthcare outsourcing in improving patient care experience, cost management, streamlining operations and data management.
Healthcare Services Suitable for Outsourcing
In the continuously evolving world of Healthcare, Healthcare providers seek efficiency and cost-effectiveness. By harnessing the potential of healthcare outsourcing services, providers can focus more on their primary tasks – providing care to patients.
There are several examples of healthcare services that can be outsourced. They include:
- manufacturing to make it easier to control the costs associated with making new devices.
- outsourcing their responsibilities related to electronic medical records (EMR) management to ensure that confidential information is protected and that compliance is maintained with all relevant privacy regulations.
- outsourcing tasks related to new research to reduce expenses related to research reagents, equipment, and data analysis.
- outsourcing financial responsibilities to ensure efficient management of monetary assets, bolster compliance with financial regulations, and streamline costs associated with internal financial operations.
These are just a few of the many examples of services that hospital systems and healthcare companies may want to outsource.
The key to successful outsourcing is finding the right partner who understands your needs. PatientCalls has years of experience and a team of specialists, we can help you navigate the world of medical outsourcing. Thus, helping your organization reduce costs and enhance service quality.
Why Are Healthcare Companies Considering Outsourcing Now?
Market pressure is urgently causing healthcare companies to look for ways to reduce their overhead expenses. Some of the reasons why healthcare companies are thinking about outsourcing some of their services now include:
- There is an increasing demand for niche diagnostic and treatment services, which can be expensive for healthcare companies to maintain on their own.
- Both competition and costs associated with research and development are increasing.
- More stringent regulations are leading to regulatory liability, so healthcare companies are more motivated to outsource services to specialized professionals.
As these pressures increase, expect outsourcing to become more widespread.
How to Get Started with Healthcare Outsourcing
As a leader in the healthcare industry, you should be prepared to navigate this transition in a way that best supports your patients and medical staff. Here is a guide to kickstart the transformation.
1. Identify the tasks which can be outsourced
These can include data management, technology support, and non-core medical services. Deep diving into these tasks will help you understand which roles within your organization can be better managed through outsourcing. While hospital outsourcing may seem challenging, the benefits it has for organisations usually outweigh these challenges.
2. Ensure that your patient’s data is handled securely and reliably
This is where BPO outsourcing comes in handy. By outsourcing data management, you can alleviate the burden of managing voluminous data and focus on patient care instead. With the help of BPO outsourcing, your outsourced team will ensure data security while reducing costs.
3. Select the right partner for outsourcing your medical services
The outsourcing industry is vast, so finding a partner that understands your organization’s needs might be a bit overwhelming. Looking into the industry’s best practices, focusing specifically on successful case studies, can guide this decision-making process.
4. Transition the tasks
This is a crucial step in hospital outsourcing, as failure to do so smoothly can impact patient care. Your partner should be able to adopt your technology and services without interrupting your normal operations. You should have comfortable communication channels with your outsourced team and ensure they understand your hospital norms and regulations.
5. Implement the new systems
While the initial focus of outsourcing lies in reducing costs and reallocating tasks, the long-term aim is to improve services for your patients. Hence, adopting new technology to further streamline your operations is paramount.
Healthcare outsourcing really a deep, strategic immersion into the industry, that can provide significant benefits and resolve numerous challenges. And that’s why services like PatientCalls are so important, providing you with reliable, secure, and efficient solutions.
How to Find the Right Healthcare Outsourcing Company?
Finding the right healthcare outsourcing company is a vital process to ensure excellent service for your organization. With the boom of healthcare management in the industry, outsourcing has become a practical alternative. The increasing demand has led to the emergence of numerous healthcare BPO and medical BPO companies, making the selection process challenging.
If you are looking for a way to outsource some of your administrative tasks, you should rely on a third-party call center that offers call scheduling, answering, and other administrative services to healthcare organizations. That is where we can help you.
We are PatientCalls, and we are a specialized third-party call center that can help you manage your administrative tasks. We have a tremendous amount of experience in a wide variety of areas, and we can use this experience to help you provide a positive experience to your patients, employees, and medical providers. Contact us today to learn more about our staff augmentation services.
FAQ About Healthcare Outsourcing
What is healthcare outsourcing and how does it impact the service delivery of providers?
Healthcare outsourcing refers to contracting out some healthcare services to an outsourcing provider, a medical outsourcing company specializing in tasks such as billing, coding, and processing. This process can significantly improve the efficiency and quality of service delivery by allowing a reduction in operational costs, providing access to expert resources, and improving focus on core healthcare activities.
Are there challenges encountered in healthcare outsourcing?
Yes, the outsourcing industry faces significant challenges. Some of these include data privacy concerns, high operational costs, ensuring the quality of care, and the need for dedicated resources to manage outsourcing relationships. Nonetheless, these challenges can be effectively managed with the right partner and necessary precautions.
What role does technology play in healthcare outsourcing?
Technology is paramount in healthcare outsourcing. Advanced technology is adopted by outsourcing companies to provide better services not only in the hospital environment but also in other health settings. The applications of this technology in outsourcing include telemedicine, electronic health records, and digital imaging. By outsourcing, healthcare providers can leverage the technological capabilities and expertise of specialized service providers.
How does healthcare outsourcing benefit healthcare providers financially?
Healthcare outsourcing results in significant cost savings for healthcare providers. By outsourcing to a company with lower operational costs, they can reduce their own costs. This cost benefit extends to patients as well who are the recipients of more efficient and effective care.