The global Healthcare BPO market size is projected to reach US$ 316930 million by 2027, from US$ 178070 million in 2020, at a CAGR of 8.6% during 2021-2027. (Valuates)
Healthcare outsourcing is the practice of healthcare organizations outsourcing services, particularly non-core business functions, to third-party providers. The Healthcare Outsourcing market continues to be a lucrative market as it allows for overhead reduction, efficiency, and decreased costs. Selecting the right healthcare outsourcing partner allows for an end-to-end patient experience.
Improved Processes
Healthcare outsourcing allows for a dedicated and highly specialized offshore healthcare support team to streamline operations and lower costs. A highly structured training and onboarding process with the use of resources, manuals, roadmaps and workflows allow for a smooth process optimization. A well-defined set of Management Metrics is also required for targeted process improvement.
Finding the right healthcare outsourcing provider accounts for proper process documentation and a comprehensive review of areas for improvement in existing business processes.
According to Statista, the global artificial intelligence (AI) software market is forecast to grow rapidly in the coming years, reaching around 126 billion U.S. dollars by 2025. The overall AI market includes a wide array of applications such as natural language processing, robotic process automation, and machine learning. (Statista)
Healthcare outsourcing providers that have Artificial Intelligence and Robotic Process Automation capabilities allows healthcare organizations to look at opportunities to improve existing processes that can be digitally optimized or even automated to improve the productivity, cycle time, accuracy, and scalability, user and patient access and overall patient experience.
Customization and Scalability
A highly dynamic business landscape requires an equally highly flexible staffing solution. Healthcare outsourcing providers need to provide fully customized and scalable staffing and process solutions to healthcare organizations.
Full-Scale Revenue Cycle Management
A dedicated offshore team accounts an efficient workflow since healthcare organizations.
Accurate and on-time service delivery of pre-authorization, requests for information, follow-up calls & action, timely & correct payment posting, to eligibility verification are some of the tasks clients can delegate to healthcare outsourcing providers.
Sample roles that healthcare organizations can outsource are tasks are:
- Medical Billing Specialist
- Service Desk Specialist
- Medical Transcriptionist
A Data-Driven Approach
In today’s world driven by data, there is a growing focus for healthcare outsourcing providers on big data and data analytics. Cloud-based analytics and reporting software lets clients track and monitor reports real-time with data visualization, dashboarding, and reporting tools.
Detailed and customized operations and financial reports from health service ticketing reports, financial information, weekly and monthly revenue and margin to real-time employee utilization and performance metrics are some reports produced with the help of these software. With a data-driven approach, healthcare outsourcing providers provide reports to clients reports allowing for data-driven decisions and actionable insights.
Data Security
A critical factor to consider in healthcare outsourcing is data security. Nowadays, cloud-based security and data security threats are prevalent. According to SmallBizTrends.com, 48% of data security breaches are caused by acts of malicious intent. Human error or system failure account for the rest.
Compliance requirements and auditing processes are key measures that healthcare organizations look at when considering healthcare outsourcing that is compliant with data security, confidentiality, and privacy.
Connext is committed to improving a secure, high-quality client and patient experience. The company has a 100% Client Retention Rate. Through outsourcing Healthcare services via Connext, there is a 60% reduction in the client’s average cost.
Connext redefines healthcare outsourcing by providing fully customized outsourcing solutions for healthcare organizations looking to innovate and grow. Connext Global Solutions provides Healthcare Outsourcing designed with the patient in mind. Outsource Healthcare services to Connext today.
Enhance your understanding of modern healthcare solutions: Explore our blog post on the transformative role of blockchain in healthcare, a pivotal technology for improving patient experiences.
