Healthcare BPO to streamline your services and obtain operational agility

Many healthcare organizations are turning to business process outsourcing to manage their day-to-day operations.

It’s the ideal solution for any healthcare company looking to improve efficiency and lower costs.

This article will cover everything you need to know about healthcare BPO and how it can benefit your business.

What is Healthcare BPO?

Healthcare Business Process Outsourcing (Healthcare BPO) is a practice in which a healthcare provider outsources non-core activities to a third-party. Instead of doing the work themselves, some healthcare organizations hire a third-party firm to do it for them.

While most businesses outsource their activities to dedicated outsourcing firms, some choose to outsource directly to freelancers.

Why do companies do this?

By outsourcing non-core tasks, healthcare facilities and hospitals can concentrate on their core competencies. Outsourcing services such as medical billing and marketing allow healthcare providers to focus solely on what they do best: effectively treating their patients.

So, where can you get help?

People generally think of outsourcing as contracting work to a third party in another country. To save money, many businesses, for example, outsource medical billing services to third-party providers in countries such as India.

You can, however, outsource these jobs to providers in your own country (though you won’t save as much money this way).

See more» Business Process Outsourcing (BPO): What It Is, How it’s Done, and the Benefits of Doing It Right

Top Healthcare BPO Services

The healthcare BPO industry handles a wide range of tasks, from data entry to medical claims processing.

Here are some specific healthcare provider services that you can outsource:

Coding And Billing In Medical Care

Every day, hospitals and healthcare professionals process massive amounts of medical records. However, unlike in other industries where coding and billing is relatively simple, medical coding and billing can be difficult.

You must be familiar with the scientific codes used in medical bills and records, such as ICD (International Classification of Disease), CPT (Current Procedural Terminology), and HCPCS (Healthcare Common Procedure Coding System)

That is why dealing with these records necessitates using specially trained personnel. You will encounter significant delays and errors in processing your patient bills and documents if you don’t have knowledge and expertise.

Why not outsource the coding and billing to an expert service provider to avoid hiccups?

Because they are professionals, they are already well-equipped with the resources needed to complete the task accurately and efficiently. This allows you to focus on tasks vital to your company, such as medical research, patient treatment, and care.

Claims Processing

Processing patient claims is an essential aspect of healthcare. Do your patients require accurate medical claims from their insurance companies?

But, with hundreds of claims to process every day, how do you ensure that each one is correct?

Why not outsource your patient claims management to a service provider to ensure compliance?

They have the workforce and technology to process large volumes of medical claims promptly and efficiently. There is no worry about distractions clouding the accuracy of the claims because this is all they’ll be focusing on.

Data Entry

In addition to treating patients, healthcare providers must process and update massive amounts of medical data daily.

They must manage data such as:

Tests and lab reports.
Prescriptions and drug stock
Insurance information for the patient
Additional hospital records

Outsourcing your data entry tasks will allow you to devote more time and resources to your core healthcare activities. While data entry is typically the safest activity to outsource due to its simplicity, remember only to outsource it to a reputable healthcare BPO.

Why?

Medical data entry is far more technical than most other fields, and you should leave it to a professional.

Physician / Doctor Referrals

When they become ill, patients look for hospitals and medical centers. They are unaware of the institute’s most recent treatments. Medical calling services will give prospective customers detailed information about diseases and treatments.

To connect with customers, trained patient support executives make inbound and outbound calls.

Patient Outreach

Clinical services such as patient care (therapy and pharmacy) and diagnostic imaging are increasingly being outsourced by healthcare organizations. The reasoning is that hospitals can provide comprehensive services without spending a lot of money upgrading in-house equipment or hiring specialized healthcare professionals.

Post-Care Patient Survey

It is critical to follow up with patients. This allows customer service representatives to gather feedback. Proper data collection and analysis enables the hospital owner to improve the facilities.

Appointment Scheduling

Another service that many Medical BPO companies offer is appointment scheduling for hospitals, physicians, and doctors. Patients can schedule an appointment with a doctor by calling the BPO provider’s call center. They also offer reminder calling services, meaning no patient will ever be late for an appointment.

Insurance Verification

Almost everyone now has medical insurance. Patients must present their insurance documents when they are admitted to the hospital. These documents can be forwarded to our executives by treatment centre owners. Healthcare BPO services will review insurance documents, verify them, and validate claims.

Revenue Cycle Management (RCM)

Outsourcing your revenue cycle management helps you improve your financial performance by speeding up the medical billing collection process. RCM solutions will help healthcare providers collect medical data more quickly and efficiently while adhering to industry compliances.

Supply chain management

Refers to the resources an organization needs to deliver goods and services to its customers. The healthcare supply chain is a dispersed and complex system that includes acquiring resources, handling supplies, and providing needed goods and services to patients and healthcare professionals.

IT functions

Refer to IT systems and processes to direct electronic health-related information, access patient databases, manage electronic billing and payment systems, operate cloud computing networks, and improve coding and billing procedures.

Finance and accounting

Includes bookkeeping, budgeting, financial management, internal accounting, and auditing economic events affecting a healthcare company’s operations and assets.

Employee training

Offers programs, education, and skills to employees to improve work productivity and performance. Workforce training is an essential component of a healthcare organization’s success. Nurses, nursing assistants, personal care aides, dental assistants, pharmacists, physical therapists, surgeons, and paramedics are typically trained.

Human resources

Is concerned with hiring and recruiting, managing shifts and pay schedules, selecting benefits and compensation, supervising personnel, improving patient satisfaction, and understanding regulatory and legal compliance.

Why should businesses outsource Healthcare Business Processes

According to a 2019 case study of current market trends in the healthcare system, the global healthcare BPO market will reach USD 449,623.8 million by 2023, growing at a 12.3 percent CAGR.

In other words, the healthcare BPO industry will expand exponentially in the coming years.

But why does the healthcare industry outsource now? What triggered this?

Here are three major reasons:

Have more time for core competencies

One of the primary advantages of outsourcing is that it allows businesses to focus on their core competencies.

Healthcare BPO allows healthcare organizations to outsource:

Managing bills.
Processing claims.
Logging data entry.
Resolving patient disputes.

They now have more time to focus solely on patient care because they no longer have to manage that themselves. This helps them improve customer experience, which then helps them gain more customers in the long run.

In addition, in a billing dispute, patients can speak directly with the service provider’s staff. Because you are not responsible for this, you can concentrate solely on your core competencies.

Cut down on budget by obtaining services from specialists

To reduce business expenses, most companies outsource their non-core activities.

Many healthcare companies, for example, outsource activities to countries such as the Philippines.

Why?

You can save money by hiring talented people at lower wage rates, without sacrificing quality!

There is no worry about any mix-ups because these are trained professionals.

Enhances patient experience

Patients benefit from healthcare BPO because it allows companies to focus on providing better patient care.

Your staff can spend time on patient care because they will no longer be managing many different activities.

Your staff is no longer overburdened with claims processing and bill entry. They can simply attend to your patients and provide them with what they require!

How to choose a good Healthcare BPO Partner

There are numerous BPO firms to choose from. So, how to pick the best one?

Find healthcare BPO partners who have:

HIPAA compliance

Any healthcare BPO company you work with must be HIPAA compliant.

What difference does it make?

Because the healthcare industry is mainly digitized, there are numerous privacy concerns regarding patient data.

The Health Insurance Portability and Accountability Act (HIPAA) governs how businesses handle patient information. Any medical company or health practitioner who violates this law faces serious criminal charges and fines of up to $50,000 per violation.

BPO companies must have strict security measures to protect patient data to be HIPAA compliant. Hiring a HIPAA-compliant service provider will ensure that your patients’ information is never compromised.

Track record applied

The potential healthcare BPO should have a long track record of success and be willing to provide references to interested healthcare companies. Obtaining references means that these providers can reveal whether the third-party vendor provides excellent services or meets the expectations and goals of clients. References also inform the BPO that its former clients can be contacted for additional research and background checks to ensure continued good performance.

Quality of work

Outsourcing services to a quality-oriented external provider is one way to address this prevalent issue. Certain areas of the vendor’s processes, such as its training framework and opportunities, team performance monitoring, and quality reports to clients, to name a few, should be scrutinized by healthcare organizations. To ensure that employees are following the most recent protocol.

Healthcare expertise

Healthcare BPO firms are distinct from other BPO firms.

Healthcare BPO firms, unlike regular BPO firms, must undergo rigorous training rounds to ensure that they know what they’re doing. They must understand medical codes, have departmental knowledge, and adhere to government laws and regulations.

Before selecting a healthcare BPO provider, you should confirm their expertise by:

Analyze them thoroughly, just as you would when hiring employees.
Checking online reviews and ratings and getting referrals from peers in the industry.
Checking to see if they have a proven track record of balancing professionalism and cost.
Remember that if a service provider has had previous success in this field, chances are they can help you as well.

Customer service

When outsourced healthcare provider-related workers provide excellent customer service, it promotes patient loyalty and retention.

Healthcare organizations must also ensure that their BPO partner has an adequate customer service process flow. This process streamlines the large volume of call centers’ work, such as billing issue resolution, new account creation, technical assistance, and other healthcare-related concerns.

Implementation and communication methods should be as seamless as possible

The ideal healthcare outsourcing partner should have efficient and seamless implementation and communication processes that improve the patient and customer experience. In this regard, the prospective healthcare BPO should use cutting-edge office phone systems to provide high-quality customer service.

Financial efficiency

The healthcare industry, like all others, is a business. The ability of the healthcare BPO to help manage the provider’s revenues and expenses is critical to the provider’s business success.

The third-party vendor should have extensive experience streamlining processes and lowering costs while providing above-average customer service. It should also be constantly looking for ways to improve efficiency at all levels and be capable of dealing with unexpected financial issues.

Good English skills

Healthcare organizations should look for BPO firms in non-English speaking countries that use English as a second language. For example, more than 90% of Filipinos speak and understand English. Filipinos have an outsourcing advantage over other countries due to their ability to adjust their English accents and speak in different conversation tones.

Healthcare providers should consider working with an external vendor who provides accent neutralization training and has a fluent workforce in English (speaking, reading, writing, and listening skills).

The Best Healthcare BPO Service Providers in the World

Infosys BPM

For clients all over the world, the company provides integrated and business process management (BPM) solutions. The BPO assists clients in meeting cost-cutting objectives, improving process efficiencies and effectiveness, and providing an exceptional customer experience. It operates 35 delivery centers in 14 countries and employs approximately 48,000 people of 120 nationalities. According to the company, it processes six million claims annually and provides data management services to at least 15,000 providers.

Outstanding healthcare BPO services include:

Claims management
Provider network management
Member management
Care management
Plan management
Benefit management.

HCL Technologies

With its digital technology transformation approach, HCL, a global IT services company, assists businesses in re-inventing their operations. The India-based company operates in 32 countries and employs over 110,000 people of various nationalities. It provides comprehensive and multiservice delivery in a wide range of industries, including life sciences and healthcare, telecommunications, travel, transportation and logistics, manufacturing, publishing, media.

HCL provides an integrated portfolio of services through a growth strategy known as Mode 1-2-3. Mode 1’s goal is to help clients’ businesses and IT systems become more lean and agile. Mode 2 focuses on customer-centric and outcome-oriented services, whereas Mode 3 focuses on driving the business and IT ecosystem.