Healthcare BPO: Increase your revenue with medical billing outsourcing

February 11, 2020

Whether you are a general practitioner, medical specialist or surgeon, Healthcare BPO (Business Process Outsourcing) is designed to optimise your practice’s financial efficiency. Medical billing outsourcing in the Philippines is a growing industry, simply because it’s such a demanding and challenging task for many practices.

Instead of employing specialists in medical billing and coding for your practice, you can access this expertise by outsourcing these tasks to professionals. Outsourcing reduces your operational costs and allows you to refocus your energy on your core business activities. Money that would otherwise be spent on salaries, computer hardware, billing software, office infrastructure, and so on, can be redirected into growing your business.

Outsourced provides highly skilled professionals to medical and surgical practitioners in the Philippines. These medical billing specialists ensure that your claims are accurately submitted, payments are made in a timely manner and unpaid bills are followed up effectively. Instead of employing specialists in medical billing and coding for your practice, you can access this expertise by outsourcing these tasks to professionals.

Efficient management of medical billing and coding

When you outsource your Healthcare BPO services, you gain access to an extensive professional workforce that helps increase efficiency and save costs. Fast, accurate and transparent billing practices are the hallmark of a successful practice. You can achieve these goals simply by outsourcing your medical billing and coding tasks in the Philippines.

Outsourcing is not new, because many practices already outsource the tasks needed to run a successful practice. For example healthcare call centre operators, accountants, tax specialists, HR experts, and so on. This is just the same, except that you are outsourcing your coding and billing tasks.

There are a significant number of benefits to this type of business model including, but not limited to, the following:

• A refocus on patient care.
• Spending more time on business growth.
• Minimising coding and billing mistakes.
• Debt collection and followup are done quickly and professionally.
• Reduced operational costs.
• Improved cash flow (due to more timely payments).
• Patients are happier with a streamlined and efficient service.
• Increased revenue due to more accurate and timely billing processes.
• All data is securely managed and stored.

Many practices lose a significant amount of money due to inefficient practices and improper or incomplete billing. Staff often become frustrated due to the amount of work involved and the need to remain up to date with billing and coding changes. Outsourcing your medical encoding and billing tasks means that your outsourcing partner needs to keep up to date with all the regulatory and coding changes across the industry. This will no longer be your concern.

Another big benefit is that your staff no longer need to perform multiple tasks. As you can appreciate, waiting on the phone to discuss a claim with an insurance provider, whilst still needing to answer other incoming calls to your practice, make appointments, deal with patients, etc., can often result in less than optimum management within your practice.

The good news is that you can eliminate all these issues by outsourcing to medical billing specialists.

For more information on medical billing outsourcing in the Philippines, call Outsourced on +61 2 8484 0400 or send us an enquiry today.