Ways Outsourcing Transforms Medical Practices in Phoenix

The healthcare industry is one of the most demanding and dynamic business landscapes. It is always changing, so medical providers must constantly seek ways to increase efficiency, streamline operations, and improve the bottom line.

Outsourcing is an increasingly popular solution for medical practices that want to achieve these goals. Healthcare providers in Arizona can tap BPO companies in Phoenix to leverage the benefits of outsourcing.

This business strategy revolutionizes the industry in numerous ways. This article discusses how outsourcing changes the landscape for medical practices in Phoenix.

How Outsourcing Transforms Healthcare Companies

The medical industry will see an increased demand for back-office outsourcing. The healthcare outsourcing industry is currently valued at $298.15 billion. It is expected to grow at a compound annual growth rate (CAGR) of 8.8%, reaching $539.08 billion in 2030. Many crucial activities occur in the medical practice’s back office, and strong support is critical to ensuring smooth operations.

Working with the right healthcare BPO service provider in Phoenix can transform medical back-office practices. It eliminates time-consuming paperwork, cuts administrative costs, improves patient record management, and increases the ability to provide excellent care while boosting revenue.

Outsourcing supports digitizing your back-office medical practices so your front office can provide an excellent patient experience. Here are notable ways outsourcing transforms healthcare companies in Phoenix.

Save More Lives With Better Patient Care

Your core competency as a healthcare provider is to deliver quality services that save lives and cautiously monitor patients from admission to recovery. Outsourcing your insurance applications, claims processing, and revenue cycle tasks minimizes your admin backlog and expenses, allowing you to reinvest your time and resources in core competencies.

Unsurprisingly, strategic outsourcing of management and back-end processes enables healthcare providers in Phoenix to concentrate on their main role—ensuring effective treatment and exceptional patient care for a quicker and more successful recovery.

What should hospital staff do otherwise? Tire themselves out processing countless forms, applications, and bills, or work regularly to deliver a positive healthcare experience to patients? The answer is obvious.

Hospitals in Phoenix hire experts in back-office support and data processing via BPO service providers for healthcare so doctors can do what they do best.

Minimize Cost of Operations

Healthcare services have some of the highest operating costs. Look at the scope of services included—diagnosing and treating diseases require regular check-ups, medication, and surgery.

Additionally, surgery requires an expert team, a state-of-the-art operating room, and dependable support staff to deliver good pre-operative and post-operative patient care. Other healthcare services also need an extensive team, including doctors, nurses, technicians, and cleaners, to guarantee smooth daily functions.

Another factor worth considering is the scope of the administrative processes related to submitting patient forms, managing health records and insurance information, and processing claims. A labor shortage in these departments leads to overworked staff, resulting in careless slip-ups and errors that can jeopardize your revenue and customer experience.

However, hiring more people is expensive. So, what can healthcare providers in Phoenix do? The answer is simple: partner with a trusted BPO company that can efficiently perform back-end processes while minimizing costs.

Guarantee Stronger Data Security

With new technological developments released daily come security vulnerabilities that may be a threat. A medical facility can quickly become the victim of a full-scale cyberattack. In the last two years, Arizona saw 600,000 records exposed. In such cases, threat actors can use valuable patient information for identity theft or profit on the dark web.

Hospitals in Phoenix must recognize the importance of protecting confidential data and systems from cybercriminals. Partnering with a trusted BPO company helps significantly. It provides training to avoid missteps in data handling and prepares innovative emergency protection measures when a threat is detected.

Data security has never been more critical for patients. Medical professionals should consider turning to experts to prevent breaches and compromised files. BPO providers and healthcare organizations must comply with security policies, rules, and parameters such as Arizona Laws 12-2292 and the Health Insurance Portability and Accountability Act of 1996 (HIPAA).

Ensure Efficiency in Data Operations

Medical companies operate on data. From continuously recording patient vitals to noting their recovery stages, an individual’s healthcare record is archived and engraved through consistent data. Billing information and claims processes are no different.

Patient history, medical records, test requisition forms, insurance applications, and medical claims hold private data that requires processing. These records often contain sensitive information, including protected health information (PHI) and personally identifiable information (PII). Such records need extra care when processed.

This is exactly why Phoenix hospitals must find an outsourcing partner they can trust. A reputable firm can supply medical practices with cutting-edge optical character recognition (OCR) technology and high-speed scanners to streamline data entry, document conversion, and document processing workflows.

Achieve a Shorter Revenue Cycle Time

Revenue cycle management (RCM) is when healthcare experts monitor revenue for a complete cycle of patient care, i.e., from the first appointment to the final treatment and payment of the balance. This healthcare process in BPO involves all the clinical procedures and administrative tasks needed to collect compensation for services rendered.

Accurate data processing is vital to the entire RCM strategy. Even the tiniest error can result in delayed or no compensation. Some of the most common billing mistakes are coding errors, incomplete claims, failure to verify insurance coverage, and failure to submit files within the stipulated time.

Data collection is the first and most important part of the overall RCM process. Healthcare companies in Phoenix must work with a BPO company that uses advanced technologies, such as artificial intelligence (AI) and machine learning (ML), to ensure accurate data. 

Tools such as specialized scanners, optical character recognition, and automation bots extract and organize data better.

Enhance Accountability in Sample Management

Sample testing depends on accurate data entry and related processes since it helps make correct diagnoses and recommend a proper treatment plan. A small mistake while entering or labeling data can lead to the administration of an incorrect treatment with catastrophic consequences.

According to the Hospital Safety Grade Report by The Leapfrog Group, 3,128 deaths were recorded in Arizona due to avoidable medical errors. Other reports show that at least one in 20 patients a year experiences harm due to medical errors, with about 12% experiencing disability or death.

Outsourcing sample management to a reliable firm reduces processing costs, improves accuracy, and saves lives. A trusted provider will take sample data processing seriously and work in compliance with HIPAA to safeguard confidential information.

All data scanned and extracted by a reputable service provider will undergo multiple validation checks to guarantee accuracy. The provider then processes the data from various forms, standardizes it, and uploads it to the client hospital’s database.

Functions That Healthcare Companies in Phoenix Can Outsource

The healthcare BPO industry is flourishing in Phoenix and all over the world. Outsourcing services comprise various support activities for medical practices, patients, and staff.

This business strategy allows Phoenix-based hospitals access to healthcare BPO services for non-clinical or non-medical functions, such as:

• Patient scheduling. Third-party support staff assists medical practices in setting up patient consultations and appointments. Patient schedulers oversee the appointment status and calendar and confirm, reschedule, or cancel appointment requests using digital tools.
• Eligibility verification and pre-authorization. External specialists contact insurance providers to verify the eligibility of a patient’s insurance coverage. They check the accuracy of data entered in the claim form to ensure payers process it correctly. The BPO team handles submissions and follows up on pre-authorization.
• Telehealth. This function lets service providers assign functions to well-trained medical professionals who can perform virtual tasks. These include online check-ins and remote patient diagnoses, record reviews, and patient briefings prior to procedures. It allows healthcare organizations to focus on providing quality in-patient health services.
• Medical claims appeal. Outsourced medical claims appeals include managing denials, correcting denied claims, and sending corrected claims. Healthcare claims appeal staff are also responsible for checking claim status online, resolving discrepancies, and processing settlements or refund requests.
• Collections. Outsourcing for medical practices means tapping experienced staff, such as medical billing specialists, to check whether the data entered from the claim form is complete and free from mistakes. This step ensures that the claim will be processed correctly.
• Payment and cash posting. The BPO provider’s medical support staff offers payment and cash posting services. One example is posting for all credit cards, checks, and cash insurance payments. It also includes conducting the month-end close of the accounts receivable spreadsheet.

The Bottom Line

Outsourcing for medical practices involves more than just one function. Healthcare organizations in Phoenix can leverage different services to tackle various cases or an entire business process. Every BPO firm offers different solutions, so the choice ultimately depends on one’s budget, requirements, and level of involvement in the process.

Suppose you want to keep abreast of the changing demands in the medical industry and remain on top of your rivals. In that case, consider outsourcing non-clinical functions to experts who can meet these demands more efficiently.

Outsourcing healthcare back-office tasks improves productivity in many ways. It lets medical providers delegate back-end work to external teams so they can focus on what they do best.

Don’t get left behind by medical outsourcing’s benefits. Let’s connect to get started.