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Why companies are outsourcing healthcare services

Business process outsourcing (BPO) – the process of delegating certain business functions to outsourcing firms – has long been a staple practice across many industries.

By utilizing business gaps as a foothold, the BPO industry has entered even other sectors commonly expected to bring in-person service delivery.

The healthcare sector is among the growing number of industries that have embraced the rise of the BPO industry.

Like other client-oriented industries, many healthcare establishments have massively benefited from partnering with trusted offshoring firms like MVP Asia Pacific.

With the onset of the COVID-19 pandemic, the advantages of offshore healthcare services have been further emphasized.

By providing companies with essential services solutions, the BPO sector continues to solidify the positive outlook other industries have for it.

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Understanding offshoring in healthcare

As the sector responsible for providing medical care, this industry is generally associated with doctors, nurses, and other medical professionals.

These professionals are often pictured working closely with their patients and other healthcare colleagues in hospitals.

However, a medical facility isn’t run solely by people in lab gowns and other white garments.

There are still administrative tasks and other back-office functions critical to the smooth operations of a hospital.

Despite not being inherently medical, these back-office operations directly support and streamline the healthcare services provided by health professionals.

Outsourcing these operations to BPO providers allows healthcare companies to save on costs and provide more efficient client services.

Understanding offshoring in healthcare

Why companies are outsourcing healthcare services

Here’s what mainly prompts healthcare services providers to outsource:

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It saves money

Outsourcing back-office functions to offshore companies operating in developing countries allows healthcare facilities to save up to 70% on labor costs.

Additionally, they can save on equipment and facilities costs already covered by the fees they pay their outsourcing partners.

Outsourced services operate 24/7

Continuous and uninterrupted operations are a must in the healthcare industry, making offshoring firms the perfect solution for augmenting their processes.

Outsourcing firms usually operate 24 hours a day, all day, and all year round. Healthcare companies can provide non-stop services no matter the time or occasion through outsourcing. 

Outsourcing firms have better back-office technology

Outsourcing firms naturally invest in the tech needed for their services. This means that outsourcing companies always have better – and often leading-edge – software for executing back-office functions than healthcare establishments.

These solutions may include software for customer relationship management (CRM), business process automation (BPA), and data management.

Assured HIPAA compliance

No healthcare company would partner with an outsourcing firm that doesn’t comply with their industry’s standards.

MVP Asia Pacific is one of the renowned outsourcing firms that fully complies with the healthcare industry’s regulations and standards, including HIPAA.

Why companies are outsourcing healthcare services

Commonly outsourced healthcare services

Below is a list of some healthcare services functions often entrusted to outsourcing firms.

Billing

Unlike billing in other industries, medical billing can be quite complicated.

Each treatment and medication requires personnel familiar with medical terminologies and codes.

A competent outsourcing firm, like MVP Asia Pacific, has agents knowledgeable about these terms. These agents also have access to software specifically designed for medical billing.

Healthcare support

This function is the healthcare industry’s version of customer support services.

As most outsourcing firms also operate as contact centers for various other industries, running healthcare support operations is a cinch.

Moreover, outsourcing companies operate 24/7, ensuring round-the-clock support for their healthcare clients.

Claims processing

A large volume of insurance claims needing processing comes with the territory of the healthcare industry.

Like healthcare support, this function is best – and often – delegated to outsourcing firms better equipped to handle back-office operations.

Outsourcing firms can do it faster, from verification to the qualification of claims applications.

Transcription

Transcribing audio dictation of doctors can eat up a lot of medical professionals’ precious time.

Many healthcare companies today recognize this fact and act accordingly by outsourcing medical transcription to BPO companies.

Commonly outsourced healthcare services

Why choose MVP Asia Pacific when outsourcing healthcare services

MVP Asia Pacific ensures that the quality of the services they offer to healthcare providers is second to none.

MVP Asia is a HIPAA-compliant company, ensuring your clients’ confidentiality is in safe hands.

Moreover, MVP Asia’s team of highly skilled agents is trained and familiar with medical terminologies to mitigate, if not eliminate, the chances of errors.

They also operate using the latest industry technology to provide efficient and timely output delivery for your business.

Contact the MVP team now and entrust your healthcare company’s back-office operations to their capable hands!

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About OA

Outsource Accelerator is the trusted source of independent information, advisory and expert implementation of Business Process Outsourcing (BPO).

The #1 outsourcing authority

Outsource Accelerator offers the world’s leading aggregator marketplace for outsourcing. It specifically provides the conduit between world-leading outsourcing suppliers and the businesses – clients – across the globe.

The Outsource Accelerator website has over 5,000 articles, 350+ podcast episodes, and a comprehensive directory with 3,000+ BPO companies… all designed to make it easier for clients to learn about – and engage with – outsourcing.

About Derek Gallimore

Derek Gallimore has been in business for 20 years, outsourcing for over eight years, and has been living in Manila (the heart of global outsourcing) since 2014. Derek is the founder and CEO of Outsource Accelerator, and is regarded as a leading expert on all things outsourcing.