The healthcare sector is one of the most prominent sectors of the business world. The services provided by this sector are crucial and essential to any nation. From diagnosing diseases to curing them, these are some of the major functions of the companies in this sector. As you would expect, the chief concern in this sector is providing excellent patient care above everything else. It is the focus of healthcare organizations across the globe to improve patient experience from the early stages of diagnosis to the recovery phase whether in a hospital or the patient’s own home.
Managing good patient experience is a task that costs these companies a lot of money and in order to continue delivering good care, maintaining their profitability is important. These organizations cannot afford to cut corners in their important medical tasks but there are certain tasks that these companies can outsource to reduce operating costs while maintaining their standard of patient care. This is where healthcare BPO outsourcing services come to their aid.
There are several non-core tasks that healthcare organizations can outsource to third parties so that they may be able to focus their resources on the things that matter more.
Some of these medical processes that are generally outsourced are –
- Medical Coding
Medical coding is the process of transforming medical diagnosis, medical functions, equipment etc. into medical alphanumeric codes. The information transformed can be taken from medical prescriptions, doctor’s notes, toxicology results, radiology reports etc. Medical coding has been one of the most commonly outsourced healthcare processes.
- Medical Billing
Medical billing is a very important healthcare process that gets outsourced. The reason why it is important is that it involves the financial aspect of patient care. Everything from registering patients, determining financial responsibility to managing patient check-in & check-out, generating bills and statements etc. is all part of this process.
- Medical Transcription
Medical transcription is the process of converting a physician’s or any other medical professional’s notes and dictation into text format. In the healthcare world, it is commonly abbreviated as MT.
- Medical Data-Entry
This is sort of an umbrella term that includes all medical processes like medical coding, billing, transcription etc. under it. Medical data entry professionals are trained in medical coding and are trained professionals in this field.
Above were the basic processes that the healthcare sector commonly outsourced to BPO companies. There are several benefits that this sector gains by outsourcing these processes.
Below are some of these benefits –
- Reduction in Cost
Of course, as is the case with outsourcing anything, cost reduction is one of the primary benefits that a healthcare organization gains from outsourcing. Healthcare is a very competitive industry and maintaining profit margins is necessary for survival. By outsourcing non-core tasks, a company can reduce their operating costs by handling all these various processes in-house would result in more costs. Not just human resource costs but also infrastructure costs. By offshoring these processes, companies can save even more.
Many organizations generally outsource to India to reduce costs and have been able to achieve a lot of success and savings.
- More Attention to Patients
As stated in the beginning of this post, patient care is the primary focus of these organizations. Outsourcing various medical processes helps them get rid of any distractions that might come in the way of that. When all various administrative processes are being handled by a third party, it would make it easier for these medical organizations or institutions to put their 100% focus and attention on their patients.
This leads to improved patient experience and patient loyalty towards your institution. Goodwill has a big place in this industry.
- Better Access to Specialized Staff
Outsourcing gives your organization access to specialized trained staff. You do not have to worry about acquiring new talent and spending money on their training. In the healthcare sector, medical coding is a specialized skill and outsourcing this process saves you the headache of training and development. Through outsourcing, you are able to get work done by expert professionals at a reduced cost than an in-house staff.
The time, effort and money saved can be better utilized to improve the patient experience.
- Reduction in Medical Errors
The healthcare sector is a very critical sector when even the smallest mistake can cost a patient his/her life. By outsourcing, you make sure that patient records and information are being handled by a dedicated team hired specially for that purpose instead of any over-worked and tired hospital staff member. This reduced the risk of critical errors and gives peace of mind to both the patient and your organization.
Mistakes in this sector can be disastrous for any company’s reputation and outsourcing can help avoid that.
Outsourcing Healthcare processes to Octopus Tech
Octopus Tech is an emerging Indian outsourcing company that provides the healthcare sector with our various outsourcing services ranging from medical billing/coding to medical transcription and data entry. Our cost-effective solutions help you stay profitable and competitive in your industry. We provide error-free backend services that will let you focus better on your patient’s needs. To know more about how we can help your organization, contact us today.