Outsourcing Healthcare Services
3 Minutes | March 28, 2022
Healthcare organisations, such as hospitals and clinics, have experienced rapid growth in the previous years. With this growth follows the need to balance the books, ensuring the institutions are able to remain operational. This balancing act is at the forefront of many US medical companies’ minds and they’re searching for ways to manage this changing climate in order to maintain their revenues and operations.
Why Healthcare Is Turning To Outsourcing
Healthcare providers in the United States are faced with a variety of issues when it comes to business operations.
- Staff shortages. It’s been estimated by Mercer that the US will face shortages as big as hundreds of thousands of medical practitioners by 2025.
- Low scalability. Companies that are able to fulfil job vacancies may run into difficulties accommodating their staff due to size constraints.
- Changing market. Consumers now have greater expectations for their healthcare providers regarding quality, affordability, and convenience.
- Competition. There’s been an increase in competition within the healthcare industry, including online-only providers and emerging alternatives.
- Budgeting. Companies that are adjusting to the shifting environment and increased demand are constrained by their budgets as they seek to reduce expenses and increase profitability.
The Benefits of Outsourcing in Healthcare
A common solution that is considered for minimising costs in the healthcare industry is that of outsourcing.
Greater access to talent
In a combat against certain job gaps within the industry, companies are able to access a pool of highly-qualified experts for tasks when they consider recruitment boundless by borders.
The direct increase in access to talent reduces time spent on advertising for vacancies and lengthy hiring processes. This means that companies within the healthcare industry are able to easily fulfil vacancies in cybersecurity, administrative processes, data entry, and accounting. The reduced time required for fulfilling these positions gives companies more resources to recruit for the practitioner and specialist roles.
Save, on average, 60-70% on costs
Outsourcing enables medical practitioners to save on overhead costs associated with recruitment, facilitating staff, and allocating resources. Companies can save up to 60-70% on costs acquired through the recruiting, training, and retainment of employees. Indirectly, offshoring assists by increasing retention of employees.
Conducting work through an outsourcing agency connects you with highly-trained professionals and state-of the art facilities. This improves business efficiency and productivity, indirectly boosting revenues and company longevity.
Institutions are able to improve their scalability with the use of outsourcing. Physical locations can place restrictions on how much a company is able to grow their taskforce, as they’re confined as to how much space they’re able to provide.
With outsourcing, companies can hire new team members without the concern of facilitating them in-house. They’re better able to facilitate essential workers in their physical locations and outsource other business processes without having to physically expand their operations.
How Healthcare Organisations Can Work With MVP
Healthcare organisations can benefit by using outsourcing for important data processes, coding, and scheduling. Having additional support with IT support, data entry, and administrative tasks can relieve the stress of employees within the physical workforce. MVP prides itself on connecting businesses with highly-trained offshore experts to facilitate growth and success.
Administration and Data Entry
Delegate essential tasks for business functionality, such as patient scheduling, claims processing, and transcribing. This increases productivity so your team can focus on the most important tasks at hand while ensuring all business operations are well-organised and documented. Learn more about outsourced administration and data entry.
Medical Coding and Transcripts
Our medical coders transcribe important medical documents into uniform medical codes, to simplify insurance related matters. Further, transcribers can turn your voice recordings into written documents, saving you time. Learn more about offshoring medical coding and transcripts.
Proper security measures and backup procedures are essential in the medical industry to ensure confidentiality of patient information and easy recovery in case of disasters. MVP has a range of qualified IT Experts that can assist with implementing and maintaining softwares for databases, billing, and bookings. Learn more about outsourced IT support.
MVP: A HIPAA Compliant Organisation
HIPAA is the Health Insurance Portability and Accountability Act which means that a HIPAA compliant company ensures the protection and security of a patient’s healthcare data or Protected Health Information. As there is a significant shift toward a digital-oriented world, being compliant with data-security acts is crucial for company success. MVP is a HIPAA-compliant organisation putting your security and safety at the forefront of everything we do. To learn more about HIPAA compliance, feel free to contact one of our friendly team members.
Grow Your Team Today
MVP is an Australian-owned outsourcing firm that connects your company with highly-trained experts in the Philippines. We are committed to expanding your team, reducing overhead costs, and improving productivity. Contact us today to begin your offshore hiring process and adapt to the ever-changing medical market.