Emerging technologies, digital capabilities, and consumer expectations are prompting healthcare providers to shift from traditional patient care and customer support channels to deliver their services in more innovative ways.
For example, patients today expect technology-driven healthcare solutions, such as the ability to book and manage appointments online, receive care virtually through telehealth, easily access their medical record, and more.
Providing customer experiences of this magnitude can be difficult for healthcare organizations that do not have modernized technology infrastructure, streamlined processes, and ample resources dedicated to customer service.
For organizations seeking to enhance the customer experience and improve patient outcomes, a BPO healthcare solution may be the answer.
First of all, what does BPO stand for? The BPO acronym represents business process outsourcing and is defined by Gartner as the delegation of one or more IT-intensive business processes to an external provider that owns and manages the selected processes based on defined and measurable performance metrics.
A business process outsourcing healthcare solution can be extremely beneficial for a medical institution or healthcare manufacturer.
This article will explore what you need to know about BPO healthcare, including the different types of BPO services and the benefits of a BPO solution.
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Types of BPO Healthcare Services
The last thing a medical facility or healthcare company should have to worry about is routine business and administrative tasks, as this can deter the focus away from mission-critical functions.
Fortunately, a healthcare business process support solution can alleviate this issue through a variety of services. Let’s take a closer look at some of the ways BPO companies can help.
Similar to how positive customer experiences can boost a business’s bottom line, a good patient experience can also improve your reputation and profitability.
With the desire for immediacy growing, particularly among millennials and Gen Z, it is more important than ever to offer quick and efficient support. In fact, 68% of healthcare consumers expect organizations to engage with them in real-time.
By outsourcing a portion of your patient care, like your facility’s call center, you can significantly improve response and resolution times.
What’s more, a specialized service provider can offer support across multiple areas of your practice, including appointment booking and management, FAQs, payment assistance, and more.
Finance and Accounting
It’s no secret that revenue is a driving force behind any successful healthcare organization, and it is largely influenced by health insurance payouts and patient payments.
Automating the administrative side of this service, particularly around medical coding and billing services, allows you to become more efficient and accurate. Healthcare BPO companies with experience in revenue cycle management can help you reduce billing errors which translates to higher revenue for your organization.
Data entry is something many providers must manage on top of patient care services. This can include notes from patient visits, health history, treatment plans, lab results, and referrals.
A BPO healthcare partner can help you digitize and automate your data management processes so you can avoid data entry errors and allow staff to focus solely on patient care and clinical functions.
Benefits of BPO Healthcare Services
Now that we’ve discussed how a BPO solution can support healthcare organizations, let’s examine some of the major benefits.
With shrinking budgets and increasing revenue targets, healthcare organizations are constantly working to identify areas of opportunity for cost savings.
Access to low-cost resources and infrastructure through outsourcing can provide huge savings for healthcare institutions, hospitals, and clinics and help increase their profit margins through revenue cycles.
Increased Focus on Patient Care
As a medical institution tasked with providing excellent patient support, non-core and time-consuming tasks are the last things you want your staff to worry about.
Partnering with a BPO company to handle redundant tasks and manage the administrative side of your business will allow your team to offer your patients the quality care they deserve.
Healthcare facilities house copious amounts of sensitive data, including financial information and medical records. Because of this, the healthcare industry is one of the most highly regulated sectors and compliance can be difficult to keep up with.
Non-compliant entities may be liable for civil penalties ranging from $100 to over $50,000 per violation. (Up Guard)
Working with a BPO company that understands healthcare compliance regulations and offers services to secure your data will go a long way in ensuring you remain compliant.
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Choosing the Best Healthcare BPO Partner
A healthcare business process outsourcing solution can provide much-needed assistance to healthcare providers wanting to overcome challenges and remain adaptable in today’s evolving healthcare landscape.
There are a number of healthcare BPO companies to choose from, so when selecting a provider, you should have a good understanding of which BPO services you need to improve your organization’s efficiency.
If you’re searching for a partner to provide BPO services for your healthcare facility, Buchanan can help. Our healthcare BPO experience coupled with our portfolio of managed services can equip your organization with the expertise and resources needed to elevate your patient experience.
Get in touch with us today to learn how we can support your organization with our healthcare business process outsourcing.