Demand is increasing among insurance companies, billing agencies and hospitals to restructure the procedures of issuing and collecting medical bills from patients. This leads them in considering the advantages of partnering with outsourcing companies that are experts in medical billing and collection.
There have been huge projects and initiatives towards digitizing processes in hospitals, including electronic medical records systems and healthcare revenue cycle management.
As a result, hospitals are looking forward to outsource medical billing and collection to let the internal and most essential healthcare functions to become smoother and more efficient.
Keeping up patient satisfaction
Too often, both patients and hospital staff suffer when the technology onsite falls behind industry principles. When a hospital team up with an outsourcing company for electronic medical billing and collection, Imedical Healthcare Solutions healthcare staff can take their focus off of burdensome, outdated or faulty computer software and provide outstanding care to their patients.
A BPO company that specializes in healthcare solutions and technologies maintain the most updated hardware so that hospitals can use their revenue on necessary equipment and workforce that make up an exceptional healthcare organization.
In addition to making the delivery of care more competent, outsourcing many of these processes will keep up patient satisfaction, which is the general end goal in the medical society.
Restructuring the processes
Frank Quinn of MedCity News stated that processing functions provided by electronic billing services give organizations the facility to watch the condition of claims instantaneously and open the lines of communication between healthcare providers and recipients.
A recent case study conducted by Cooper University Hospital confirmed the intrinsic worth of employing an outsourcing company to handle healthcare revenue cycle management. Through outsourcing medical billing collections, the university saw a significant increase (25 percent with an average account age of 309 days old) on payment of insurance accounts provided by third-party payers. Hospital staff is not forced to throw away valuable time asking for payment anymore.
The same study indicated that companies dedicated in healthcare outsourcing keep abreast of guidelines and legal issues surrounding the collection of claims, lessening the load of hospital staff to stay up-to-date on the latest changes. Furthermore, the professionals providing outsourced healthcare management can also train staff on vital rules and policies with regard to healthcare revenue cycle management.