While outsourcing has been an indispensable component of traditional and enterprise businesses for decades, it has mostly been practiced by companies reliant on quick scalability like consumer goods and services.

However, the COVID-19 pandemic has created a boom within the healthcare industry that requires the ability to both scale, and deliver from a distance that practitioners simply aren’t used to.  And this is where the outsourcing and healthcare industries have essentially partnered to become exactly what the market needs.

Healthcare Outsourcing Statistics to Consider

Below are the latest statistics on healthcare outsourcing services:

The Healthcare BPO Market in North America is expected to reach USD 159.37 billion by 2025, growing at a compound annual growth rate of 8.98 percent. 

Significant factors that contribute to the continued increase in the demand for healthcare BPO in the North American market are the following:

  • Outsourcing firms provide training focusing on a particular role or task
  • Outsource solutions help reduce the cost of delivering healthcare services
  • Outsourcing assists companies concerning the growing number of people availing insurance

Black Book Market Research LLC’s survey stated that in 2017, 81 percent of clients said that outsourced hospital processes meet their demands remarkably.

“In hospitals, there is a developed understanding of the broad spectrum of outsourcing options and how to manage vendors,” states Doug Brown, President of Black Book Research LLC and the author of the 2009 global bestseller “The Black Book of Outsourcing.” He explained that healthcare outsourcing does not receive the negative stereotypes that banking, insurance, tech, and call centers usually experience. Compared to these other industries, healthcare outsourcing involves call center agents with a firm understanding of the medical industry, have undergone out-and-out medical coding training, and possess a keen attention to detail.

The global healthcare revenue cycle management (RCM) outsourcing market is expected to increase significantly by up to $23 billion by the end of 2023.

Healthcare revenue cycle management is the financial system that offices use to operate the administrative and clinical functions. The process includes claims processing, payment, and revenue generation. Outsourcing healthcare RCM continues to attract more medical companies that intend to achieve cost efficiencies, reduce expenses, and focus on value-based care actions.

The facts mentioned above show that healthcare outsourcing is prominent as it brings profitable and promising contributions to the industry. But the question remains: why offshore to a healthcare outsourcing provider?

Healthcare Outsourcing

Considering the Pros and Cons

Like any other business practices, healthcare outsourcing also has its pros and cons. Acknowledging these, though, would also help businesses decide whether they should consider it or not.

Here are the benefits of healthcare outsourcing services:

  • Expertise on hand. Outsourcing brings opportunities for acquiring experts for a wide range of job positions. For example, the Philippines is one of the top sources for offshore employees and has many nursing graduates. Plus, Filipinos have a high literacy rate in English proficiency. These factors make the Philippines the right place to outsource for offsite healthcare staff.

Employee retention and acquisition are handled automatically with the outsourcing firm. The outsourcing company provides technological equipment and infrastructure, up-to-date programs, and tried and tested strategies. In addition, they shoulder any further training that the staff needs.

  • Shielding liability. Outsourcing lessens your liability by utilizing leased employees provided by your outsourcing partner. It means that the parties of business are independent and on an equal footing. Such a bond can also protect the company. Hence, the responsibility then rests with the offshore firm.
  • Cost-effective. Acquiring expertise and value while keeping the costs minimal is a vital trait of outsourcing.​​​​ Healthcare firms do not need to spend on software and training since the outsourcing company provides these essentials.
  • Business Expansion: Outsourcing allows companies to realize their potential and expand their reach. Medical firms can easily focus on their core offering while the outsourcing firm supervises the healthcare service.

The commonly outsourced areas in healthcare are IT administration, electronic health records (EHR) and data management, operations management, asset management, and billing.

On the other hand, these are the disadvantages when outsourcing healthcare services:

  • Lack of data privacy. In 2018 alone, 15,085,302 patient documents were breached. Hackers and data violations are highest among firms that outsource their services, making it imperative for outsourcing partners to establish risk management plans that protect patient data and comply with the Health Insurance Portability and Accountability (HIPAA) ordinances.
  • Possibilities of poor quality service. Healthcare organizations should not neglect the amount of time and effort needed to grow a successful outsourcing partnership. The medical firms must ensure that their outsourcing partner can be held accountable for their performance. Quality-related problems can also be limited by working only with outsourcing firms possessing extensive industry expertise and adhere to industry best practices.

Finding the Right Medical Outsourcing Company

Knowing the pros and cons of outsourcing healthcare services is vital for your business. Still, it all comes down to finding the best outsourcing partner.

Here is a  checklist in choosing the right healthcare service to outsource:

  • Solutions and services. A one-stop provider enhances efficiency and accuracy. It will save you from the strain of working with different providers for different purposes. The right service provider must present various data entry services, such as billing and coding, and account receivables management.
  • Pricing. The main reason for outsourcing services is to cut down operating costs; hence, choosing the most reasonable rates is best. However, just because a company offers a lower price does not imply that it is the most suitable option. Usually, low-cost services are associated with low quality. Instead of finding who has the lowest price, choose the one with reasonable pricing.
  • Technology. Make sure to choose the service provider that uses top-notch technology. Having the right software improves both accuracy and data security.
  • Background. The number of years they offer the industry service can determine if they are fit for the job. Healthcare is a delicate sector and requires experts with enough experience to handle all processes. Check if the service provider is qualified by requesting a portfolio of their previous performance and success rate.
  • Certification. A licensed and registered outsourcing company means it is authorized to do the job. Also, it can indicate that they can be trusted to give quality service.

These tips will help you find the best company to be your healthcare outsourcing provider. Take your time searching until you find a firm that meets your needs and budget.

Consult with SuperStaff

With or without a crisis or pandemic, outsourcing can always provide you with significant advantages over your contemporaries.

In regular times, it allows businesses to enlarge resources seamlessly from one country to another. With the current economic crisis brought by the pandemic, outsourcing helps firms expand their team as they strive to reduce their expenses. As the new normal affects every type of business operation, cost-effective practices like healthcare outsourcing companies serve as a remedy for the medical sector. Since healthcare is an essential industry, continuous and smooth processes and team expansion will minimize strain on operations.

SuperStaff has more than ten years of experience in giving service to medical outsourcing and other industries. We provide healthcare services on nonclinical roles, back-office support, customer service, programming and development, and more. Furthermore, we guarantee our services will make our clients at ease and satisfied. We achieve this through the following:  

  • Data Privacy Act in the Philippines. SuperStaff has an offshore office in the Philippines where data privacy in operations is strictly observed. This act aims to:
    • Protect the privacy of people while securing a free flow of information to support growth and innovation;
    • Regulate the documentation, collection, organization, storage, updating or alteration, retrieval, consultation, use, consolidation, blocking, deletion, or elimination of personal data; and 
    • Assure that the Philippines conforms with international standards set for data protection through the National Privacy Commission (NPC).
  • Providing excellent service. Our company promotes continuity, information security, and a leadership hierarchy that offers excellent service quality. We also believe that the right partnership should be fortified by complete, competent, and transparent reporting across business units. 

Moreover, in response to the pandemic, SuperStaff provided its workforce with the necessary technology and support equipment to shift to a remote setting. And while we feared the worst, our customer support division and other departments even doubled since the lockdown happened. 

Know what SuperStaff can offer for your healthcare operations. We are always ready to meet and exceed your expectations through the solutions we offer. Book a consultation with us today.

Learn More About Healthcare Outsourcing

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