With an aging population living longer. With ever-diminishing margins for profits. With ever increasing pressure to digitize existing records. With ballooning regulations. With skyrocketing costs and an uncertain insurance environment. With threats to decrease funding of government legacy healthcare programs.
In other words, with across the board rising costs and decreasing profits, how can a healthcare provider- whether a large hospital group, or a group practice, or an urgent care walk in, or a non-profit clinic- get and stay active, and even thrive in this cut-throat environment?
Consider the options available from a Healthcare BPO Services firm.
Many in the Healthcare Sector concentrate on their patients- staying on top of the latest treatments and medications. The majority of their staff does as well. So, it”s probably no surprise that Medical Billing is near the bottom of the list of priorities.
On average, 70-80% of patients owe a minimum of $500 to their healthcare providers. More than 45% of patients owe $1000. If a bill is not eventually paid or settled, the expense of treatment will NEVER be recovered. Is it inevitable that you incur this loss? While not supplanting patient care as the #1 priority, billing and payment IS IMPORTANT and should be treated as such. So WHY do medical practices continue to lose money on the process when there is an alternative. Healthcare Outsourcing Companies. Many practices and hospitals chose to Outsource Healthcare Solutions and save both time and money.
Think about this: if you could hire a team of professionals with an outstanding track record in Billing, Customer Service and Collections, and do this at a fraction of the cost as your in-house process, wouldn”t you?!?!
The answer is right in front of you. Healthcare Outsourcing.
The Benefits of Outsourcing Healthcare Services
Some advantages of Outsourcing Healthcare Services from Rely Services that can be utilized by Physicians and the Healthcare Industry :
- Cost Effective : Streamline billing by creating a central point for all billing and accounts receivable
- Expertise : Our team stays up to date on changes in Private Insurance, Medicare, Medicaid, Supplemental, Government Plans and The Affordable Care Act policies and practices. Your office d doesn”t have to monitor the changes in the Insurance Industry
- Reduction in Staff Acquisition : Taking these processes out of your office and into ours will reduce your staff and employment overhead
- Less Administrative Overhead: The resources you once spent on billing information flow can be used on training and staying up to date on the latest medical technologies and practices
- Increase Revenue : Trans Promotional marketing is an advertising technique which is added to bills. This marketing strategy is very efficient for businesses and organizations as they can promote vaccines, any medical events or even any related information on bills. This advertising strategy can prove to be very effective for medical organizations to get the customers to return to the business and is just one e example of the benefits of outsourcing billing.
- Change In Methods : As there are constant changes in the Medical Billing Industry, following the rules would be a time-consuming process for any medical firm. When billing requirements are handled by outsourcing services you” re using only the latest trends and operations in the market place.
- Safety and Reliability : Rely Services has a very Secure and Reliable billing process. We protect your information from any hacking and unauthorized access to you database. Data is confidentially stored and we have the Security and Infrastructure for a Successful Healthcare Services operation.
- Systematic Approach : Giving access to the third party for maintaining your responsibility can really reduce your workload. Transparency and Accountability between Rely Services and your firm will be maintained.
- Improved Patient Care : Patients no longer need to worry about their financial issues as they are managed by the professional outsourcing service providers. This leaves your office staff to spend more time on patient care.
How to Choose the Right Outsource Healthcare Company?
Outsourcing the business side of your practice will make a huge change in the efficiency your operating costs.
A Healthcare Outsource Firm can give your billing process TOP PRIORITY from day one. BPOs have a proven track record increasing income and cutting costs for healthcare providers world-wide. It”s both the easiest and quickest way for your medical practice to see new levels of profitability.
The majority of medical practitioners agree that their billing and collection processes have errors. These errors mainly occur due to not taking pre-authorizations correctly or not submitting all the information to insurance companies along with the billing.
A consistent, persistent approach is key to collecting from patients whose accounts are payable or past due.
Why not put this vital function in the hands of professional?
Today, Rely Healthcare Outsourcing is providing world class service to their clients. Using the latest technical innovation and expertise, Rely Services can offer:
- Cost Efficiency: Outsourcing Medical Billing keeps billing flowing in an effective way, getting bills out quicker, getting payments back sooner and with less expense
- Infrastructure and Technologies : Rely Services uses only the latest in hardware and software. Our professional staff constantly updates their training, keeping your business at the forefront of both technology and best industry practices. Our infrastructure is well maintained and self-sufficient, with both back-up power and storage. We’ve never had a data loss or at-fault service interruption.
- Workforce : It”s a fact that Rely Services” professionals are less prone to errors in insurance coding and patient contact. We hire only the most competent, English proficient staff. We have a rigorous training regime, and are periodically upgrading their training and certification. With our dedicated team handling your billing and other back office tasks, your practice can be more efficient and cost effective. The money saved can be used to improve patient care and upgrade equipment and services.
- Service Quality : We will evaluate your current services and where necessary, refine or bring on new methods to improve the quality and quantity of patient related services
- Industry Expertise : Insurance, both private and government, seems to constantly change their methods and requirements. To stay on top of the latest regulations that WILL impact the payment schedule was a full-time job in itself. With Rely Services, your practice can leave that task to someone else. We guarantee our ability to stay on top of changes and not lose any time or money because of our mistakes.
- Safety And Reliability : Well established outsourcing companies have a very stable and secure billing process. At Rely Services pride ourselves on the security of our systems, protecting the client”s sensitive information from any hacking or unauthorized access to their database. Their data is confidentially stored and has the safety and infrastructure for a client”s confidence. And we are also HIPPA Compliant, protecting patient privacy.
- Have Control : Giving us the responsibility for maintaining your medical billing services will reduce your workload. Transparency and accountability between Rely Services and your medical firm will be maintained.
- Customer Support : We will be the voice and face of your billing, receivables service, and we take that responsibility seriously. We”ll mirror the same consideration and care that your patients find in your office.
