HEALTHCARE & MEDICAL

 

 

    • Outsourced Medical Services

The new regulations and additional measures to control fraud have opened a world of opportunities for medical services and healthcare outsourcing providers to help healthcare organizations streamline their operations, reduce risk through data analytics, increase speed to market for new plans, reduce costs and improve patient care.  The most commonly outsourced medical services are medical billing, coding, insurance claims processing, transcription, adjudication and receivables management, and clinical outsourcing.

    • Medical Billing

Medical billing is the management of billing and accounts receivables for medical professionals and healthcare firms.  Outsourced service providers have absorbed much of that demand, as it can be expensive for small and midsize businesses to hire billing and coding staff and purchase the necessary software and infrastructure.

Just as patient care is the primary function of a healthcare organization, third parties provide medical billing as one of their core services.  Many vendors that provide medical billing services are also experienced in medical coding.  Working with a third party gives companies access to billing experts and technology that may be too expensive to build and support in-house.

Unlike in-house billing that may be placed on hold due to staff turnover or vacation/sick leaves, outsourced medical billing is handled by multiple billing experts, which means continuous revenue processing and improved cash flow.  Because of the difference in time zones, offshore medical billing and coding services can also be performed overnight.  Results are ready for the physician or medical personnel in the morning, improving the quality of care and boosting customer satisfaction.

For organizations that want to maximize their resources to the fullest, working with an offshore medical billing provider or hiring offshore medical billing staff is a good option.  Many organizations already have partnerships with offshore suppliers in locations like the Philippines, where low labor costs mean bigger potential savings without sacrificing the quality of work.

    • Claims Processing

Like billing and coding, increases in healthcare insurance claims processing, which involves gathering relevant information (all documentation) from the primary care provider and comparing it with the insurer’s coverage plan, have overwhelmed the resources of many firms.  Much of the extra workload is being passed on to service providers that are capable of handling large volumes of claims.

    • Transcription and Electronic Medical Records

For many years, healthcare organizations have offshored medical transcription to low-cost locations.  Transcription is the process of converting audio or video recordings from the primary care provider into paper or electronic documents that can be easily edited, transmitted and archived.  Electronic medical records (EMR) are digital versions of the patient chart.  They help track data over time and monitor and improve quality of care.  Third parties provide transcription services and EMR software development to streamline medical information processing and tracking.

    • Other Healthcare Outsourcing Services

Some healthcare BPO service providers handle end-to-end management of non-clinical functions or functions that are not related to patient care: data analytics, financial management, software development, IT support, and customer service/help desk.

    • Benefits of Medical Services Outsourcing for Businesses and Institutions

When hospitals and healthcare institutions outsource non-core services to outside experts, they reduce costs, improve efficiency, boost profitability, and focus on improving the patient experience.

Reduced costs.  Clients can save up to 60 percent by outsourcing medical services.  They don’t have to spend money to recruit, train, support and oversee full-time employees.

Improved focus. The goal of most healthcare organizations is to provide excellent patient care.  When companies outsource admin paperwork and tedious, non-core services, they can focus on what they do best.

Increased profitability.  When an outside expert handles the revenue cycle, it can lead to increased insurance collections and improved profitability.  Third party healthcare outsourcing services providers know how to maximize reimbursement and reduce denials.

Reduced HR issues.  A third party serves as a neutral platform for mitigating employee-employer issues.  Staff can feel more confident about airing their concerns and suggesting improvements when they know that an outside expert is handling HR and payroll.

    • Outsourcing Medical Services to the Philippines

To realize maximum cost savings without sacrificing high-quality service, consider outsourcing medical support staff to the Philippines.

Twoconnect provides experienced, highly motivated medical billing and insurance claims support staff.  Members of our staff are detail-oriented professionals who have medical backgrounds and deep industry knowledge.  Twoconnect exceeds industry standards for data security and complies with all federal guidelines on record processing and storage.

Please contact us to find out more about Twoconnect’s custom medical services.