Technology, changing government regulations, and the increase in the number of people with medical coverage are bringing sweeping changes to the world of health care. As physicians try to adjust to the many changes, some of which are temporary and others permanent, they’re increasingly looking toward outsourcing their business processes as a solution. You may be surprised by some of the reasons more and more physicians are embracing medical bpo solutions.
Delays in payment are leading medical offices to outsourcing business processes
The reality is that for many offices across the country, there are simply inadequate reimbursement levels. The government and managed care reimbursements are not what they were and are often insufficient to cover a patient’s healthcare costs. With new healthcare codes, regulations, and procedures in place, it can take longer than ever for an office to get the reimbursement they’re due.
Physicians are turning to Healthcare Business Process Outsourcing (BPO) because their own in-house staff may not have the expertise to handle follow-ups on these claims, or they may simply have tasks to complete that are more relevant to their specific role. Why have your medical assistant waste time following up on a seemingly endless pile of reimbursements when you can outsource billing, collection and reimbursement tasks to companies that specialize in getting payments as quickly as possible?
Staffing shortages require medical practices to look elsewhere for support staff
Many regions of the country are seeing significant shortages in staff on every level, including nurses, lab techs, IT personnel, and personnel in their business departments. This drives up costs and can even threaten patient safety and quality of care. As employers ask more of every staff member they have, to cover for those they don’t have, the quality of the work decreases. This is why physicians have turned to external BPO providers to handle daily business tasks.
Ever-changing regulations require specialists
Keeping up on changing regulations and implementing needed updates to billing protocol is a full time job in and of itself. Medical practices are wasting precious hours every week just staying on top of the changes. This is expected to only get more complicated due to new HIPAA rules and an increasing number of people with health coverage. That’s why practices are turning to BPO providers they can trust to constantly assess changes and make the necessary shifts in billing and other office processes.
Taking advantage of business process outsourcing allows physicians to spend more time with patients
Let’s face it: no doctor went into medicine because they wanted to fill out endless paperwork. As aging populations need more thorough care, and have more complicated demands of their physicians, BPO frees up physicians to focus on their patients. Today’s patient is more informed than ever, thanks to numerous online resources, and as they take their healthcare services into their own hands, there is a need for greater specialty services and additional care options that can only be met when physicians are free to focus on their patients.
BPO services can protect physicians from increasing liability issues
Malpractice insurance is on the rise – and has been for quite some time. This adds pressure to physicians and even keeps some from practicing. Fraud in the Medicare system, coupled with inaccurate and out of date billing practices, are reducing reimbursements in some areas. Turning to the experts allows medical offices increased confidence that they’re protected for potential liability issues.
An increasing need for capital investments has physicians looking for new options
It’s an exciting time to work in the field of medicine: new procedures and medical advancements are making things possible that many physicians never dreamed of. But with these advancements come the need for expensive capital investments.
Physicians have enough state-of-the-art technology to keep up with – they don’t need the added expense of investing in the latest software. When they utilize the services offered by medical BPO providers they can pay a simple fee for all their business process services and skip the high cost of billing and office software altogether.