What Is Meant By Medical/Healthcare Outsourcing?
Medical Outsourcing refers to assigning a Third-Party service provider management of a portion of the Healthcare Back-Office Services a company or practice offers, mostly from an offshore location. Starting from Claims Processing, A/P, A/R, all the way up to IT level functions, Outsourced Healthcare practices have expanded to a vast array of medically oriented services, particularly evolving due to the pandemic. The current crisis has increased the demand for global healthcare, which in turn, requires the evolution of traditional methodologies to match the pace.
There is a shortage of qualified professionals, particularly for inexpensive, widely distributed care. Healthcare Insurance, in particular, attracts attention from outsourcers globally. Whether it is physicians, hospitals, Insurance providers, private clinics, or outpatient care centers; all require basic Billing, Claims, and Collections services in every practice. For patient-centric service and appropriate Revenue Cycle Management (RCM) all your healthcare-associated operations have to be error-free, timely, and credible. Outsourcing provides the necessary skilled personnel to expedite preliminary screening processes while reducing the workload on the domestic workforce.
Accelerating your Back-Office operations while providing modern interactive tools and software for practice; Outsourced Healthcare services also enable better management of the patient lifecycle. When handling patient information, accuracy and security take precedence over all other factors. Compliances and Certifications play a vital role in ensuring services provided match the industry standard, which is part and parcel of outsourced healthcare. Since the process can get quite expensive when a lot of people are employed for non-critical tasks, off-premise teams can deliver the same quality of work at a fraction of the cost.
Advantages of Outsourcing Healthcare Services
- Revenue enhancement
- Reduced costs of operations
- Flexible, scalable, staffing with top industry experts
- Custom-designed, automated solutions for Process Improvement
- Round the clock and secure operability
- HIPAA compliant and PCI certified practices and platforms
- High accuracy with comprehensive reporting analytics
- Omnichannel support with CRM integration
- Real-time management with quick outcomes
- Practitioners allowed to focus on core tasks
- Emphasis on Patient Care and quality service
Premier’s Healthcare Services
Possessing over a decade of experience in Healthcare outsourcing services, Premier is seasoned in optimizing workflows for medical practices and practitioners. Our custom-designed healthcare services help you to battle compliance regulations and inefficiencies in patient record management, Billing services, Data Entry, Transcriptions, Insurance claims processing, and more.
Our systems, tools, and services are HIPAA compliant and enable faster and precise information management. Our highly trained team meticulously handles every operation for client satisfaction as we believe in continuous process improvement. We also possess the prowess to develop on-demand software and tools for specific healthcare requirements. Our performance metrics are determined by CSAT and NPS scores for consistent quality. Our extensive array of services includes:
Healthcare Insurance Verification (Eligibility and Benefits)
Insurance Claims Processing and Denial management
Dental and Medical Billing and Collections
Data Entry, Processing, Coding, and Transcription
A/P, A/R, and Account Management Services
Revenue Cycle Management (RCM)
Digital patient record management and follow-up
Contact Center (Lead Gen, query handling, warm transfers)
Healthcare IT/Tech Support and Help Desk
Real-time updates, 24/7 e-mail, and chat support
Customized Web / App / Platform / Software Development
Remote Monitoring and Management
Eligibility (EV) and Benefits Verification (BV)
Provider credentialing entails that an outsourced team helps review and authenticate Insurance claims of patients for Insurance providers. Receiving patient information and comparing it to specific criteria to verify eligibility, claims, and benefits, requires proper certifications in place with proficiency and knowledge about medical insurances and policies. Outsourcing to a third party can allow higher accuracy with reduced errors performed by highly-qualified individuals, without overburdening your staff.
Patient record management requires constant updates to avoid inconsistencies and overflow with quick turnarounds. Filling out tons of paperwork can be tiresome and errors can lead to lost collections and increased billing costs. Electronic Data Interchange (EDI) can help facilitate and fast track verifications and patient requests. Necessary authentication assures the process is completed with industry complacent standards; especially with ADA, HIPAA, PCI compliances, and ICD-10 coding systems. Checking every aspect from plan coverage to expiry dates to referrals and policy statuses; Premier’s outsourced healthcare team can do it all.
Premier offers a variety of services under the healthcare vertical, which also include Customer Support for Healthcare Contact Center. Using meticulous Quality Assurance practices with electronic verifications supported by secure cloud software, our extensively trained team delivers to patient and physician satisfaction. We allow you to save money on claims while providing converged Customer Care. We help clients retain their customers for a lifetime by offering value-added service with promised excellence. Our service banner for verifications includes:
eligibility verification, coverage, and benefits
submission, tracking and credentialing for Insurance companies
indexing, data, and charge entry
automated pre-certification
Medical Billing
Accuracy in Medical Billing and subsequent collections directly affect your generated revenues. Every patient interaction requires undergoing extensive rules, procedures, and codes through licensed technology platforms and associated software. This may cost you an arm and a leg if done internally, but outsourcing fulfills this requirement with significantly less expense, while billing faults can be avoided entirely. Billing and coding may include Dental Billing and Collections as well, depending on the range of functions.
Healthcare Back-Office Support
Premier possesses a radiant history in managing healthcare clientele while producing outstanding results. Offshoring with Premier, allows round the clock billing management, even when physicians aren’t actively working. Our team lowers attrition while ensuring a steady cash flow for your practice. It also allows you to focus on acquiring new prospects and improving existing patient care facilities. Premier’s team is expressly trained to use leading technology to expedite compliance processes so you can focus on your core capabilities. We aim to unburden you of monotonous everyday back-office processes and increase patient satisfaction and treatment.
Our list of outsourced functions includes:
