Healthcare providers are constantly looking for processes to help run their back office solutions so they can concentrate more heavily on their primary responsibility: caring for their patients! No brainer.
More and more healthcare providers are working with healthcare business process outsourcing (BPO) partners skilled in providing services for organizations similar to theirs.Healthcare providers are able to effectively manage (without having to do all the legwork) their healthcare accounts receivables while maintaining strong patient-doctor relationships.
Healthcare BPO partners help alleviate providers’ struggles, not create more, in dealing with patients’ paying more out of pocket dollars than any time in our nation’s history and should be able to manage processes such as:
- Skip tracing (finding new addresses and phone numbers) and statement generation
- Billing and follow up
• Payment monitoring/setting up payment plans
- Self-pay and balance after insurance
- Insurance follow up and denial management
- Charity care and financial assistance eligibility
• Medical Necessity
• Pre-Authorizations for Radiology Outpatients
• Clean-up projects
- Website and payment portals
- Lockbox services
- Bad debt collections
Not all healthcare providers are treating business office solutions as a top priority – if you are ignoring your self-pay, you aren’t doing anything for your organization but ruining your margins! Low hanging fruit on insurance doesn’t cut it. You need to work those accounts – collecting as much money as you can at point of service and working with your patients to establish a plan to pay back the money owed if you are unable to collect 100% of your dollars at registration.
So -- why would a hospital choose to outsource revenue cycle management processes?
When healthcare providers are understaffed or underequipped (You? Noooo….), they often look to outside companies able to handle revenue cycle management (RCM) processes more effectively and efficiently. Medical professionals who rely on healthcare BPO are able to:
- Save space! Yes, space. Look around your office – is it crammed with too many people, computers, STUFF? Get rid of it and let the BPO deal with finding the room for everything
- Save money on hardware, software, FTEs, training, and other costs
- Focus on patient care by allowing BPO partners to take care of back
- Increase revenue by allowing trained experts to handle billing and collection processes – this means you don’t have to train people to work billing/collection accounts!
- Achieve a higher rate of patient satisfaction by building stronger patient relationships
Healthcare providers may be skeptical about outsourcing their business processes, especially because of HIPAA and other healthcare compliance regulations, but choosing a BPO vendor within the United States allows healthcare organizations to comply with patient privacy regulations and security protocols with ease.
VARO Healthcare was designed as a healthcare business process outsourcing company. VARO helps providers facing a need for capital, losses in revenue, and staffing/resource shortages by creating solutions that are customized to help manage business process challenges.