The healthcare sector is massive in itself; with many functions happening simultaneously at the same place, one can witness the sync in which every department works in a hospital.
A hospital is open 24×7, and there is no break in the system, and every staff is on their toe till their shift ends. Every section, including the nurses, doctors, technicians, back-office staff, etc., keeps the system running smoothly.
With the up-gradation of technology and complexity comes the requirement of exceptional staff and talent to do all the back-office functions. Hence, the need for Healthcare BPO (Business Process Outsourcing) comes into play.
The outsourcing of support functions benefits the healthcare sector a lot. It only costs a small portion of the actual cost of recruiting, training and buying software tools and instruments, equipment for that purpose.
The recent trend shows that the global healthcare Revenue Cycle Management (RCM) outsourcing market reached a value of $14.6 billion during the pandemic.
Healthcare organizations are known to outsource support functions like supply chain management, food services, laundry services, and housekeeping. As time passes, the technology and service functions have become complex, so has the load on hospital staff.
The following are the eight functions that healthcare organizations outsource:
- Data Collection and Analysis
Outsourcing the data collection and analysis function reduces the cost of hiring staff and training them. The hospitals have now increased efficiency and productivity with the outsourced data management process of billing, clinical research, and other activities.
- Infrastructure Management of Hospital
Management services like pest control, waste management, sterilization, cleaning, patient transportation and security, procurement and maintenance, equipment planning are colossal responsibilities and take a lot of capital for the hospital to do it. Outsourcing makes it easy and low budget for the organization.
- Medical Data Entry Services
The Healthcare BPO unifies all the tasks related to:
- Billing and account details
- Records of medication
- Records of hospital
- Surgical treatment records
- Payment posting
- Data entry of handwritten and printed documents
- Charge entries
- Text and numeric data entry
- Demographic entries
- Lab data and test records
- Clinical and healthcare records
- Chat information and patient details
- Image record data entry
- Better HR Services
Outsourcing the HR work decreases the overall budget of the recruitment process done by the healthcare organization. It helps you with the services like handbook creation, employee manuals, hiring and training, and many more activities, which saves much cost that could have come upon the hospital.
- Efficient Payroll Management
An efficient full-time payroll staff can cost the organization a lot compared to the outsourcing company charges. The outsource team will also provide payroll software for you.
- Clinical and Patient Care Services
Outsourcing of clinical services has seen an increase in recent times, such as patient care services, diagnostic imaging, therapy, and pharmacy. Organizations outsource these services as it extends the ability to provide full service without any significant investments in in-house equipment.
- Medical Claims Processing
The processing of patient claims is a critical healthcare activity. By outsourcing this service, you can stay updated with the latest changes in rules and regulations in medical claims. They have professional workforces and technology to process large volumes of medical claims by patients.
- Error-Free Medical Billing
Healthcare professionals process hundreds of records every day. Medical coding and billing can be complex and tiring, and without proper knowledge and grasp of the situation, one could have expensive billing errors. The outsource team will provide you a specially trained team to do the job.
Outsourcing has become common, and the few organizations in the healthcare sector are catching up with the trend. Outsourcing is sure going to be an absolute necessity in the future for every organization.