Just in case you somehow missed the trend, the healthcare business process outsourcing (BPO) industry is growing at a rapid rate. Black Book Market Research’s annual Satisfaction Survey of all RCM stakeholders uncovered that nearly half (45%) of struggling hospitals in the U.S. have immediate plans to implement a full RCM outsourcing strategy. By 2016, the outsourcing market will reach $9.9 Billion, over a $2 Billion jump from the 2014 numbers.
Topics: BPO, Patient Pay, Outsourcing, Business Process Outsourcing, ICD-10, Healthcare BPO Companies
As a large healthcare organization, your primary responsibility is premier patient care… we get that. And with Medicare reimbursements now tied to patient satisfaction scores (courtesy of none other than the Affordable Care Act), the emphasis on quality of care and patient happiness is more important than ever before.
Topics: BPO, Outsourcing, Business Process Outsourcing, Revenue Cycle Management, Healthcare BPO Companies
As the CFO of a hospital or healthcare organization it’s easy to become overwhelmed by the changing industry landscape and fast-moving regulatory shifts that affect the financial outlook of your company. And for good reason. Your livelihood and the livelihood of those within the organization depend on your expertise and ability to ensure the company is financially sound. Ever wonder whether others in your position feel a similar burden of responsibility or if possibly you’re the only one losing sleep over healthcare financial management? Rest assured that you are not alone experiencing this daily stress. Your perception of the situation might be bleak- but it doesn’t have to.
Topics: BPO, Business Process Outsourcing, Healthcare BPO Companies
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.
Topics: BPO, Business Process Outsourcing
From the smallest medical offices to the largest hospitals – they all have one thing in common: patient collections. Every practice and hospital must find the most effective way to handle their patient collections. At some point you’re going to consider whether keeping your patient collections services in house is the best option. There are many benefits to outsourcing this necessity, and VARO Healthcare can ensure you reap those benefits in your business.
Topics: healthcare technology, Services Vendor, Outsourcing, Business Process Outsourcing, Bad Debt
The process of outsourcing a hospital’s accounts receivable or any other medical office for that matter, does not start with handing over accounts and waiting to see what happens next. Instead, accounts receivable management starts with a good amount of planning and understanding what benefits A/R outsourcing will provide a hospital in the first place. When accounts are actually transferred for management, the office will already have a clear plan on what to expect as well as how to redirect resources now freed up from managing accounts directly.
Topics: Patient Pay, patient satisfaction, vendor management, Outsourcing, Business Process Outsourcing
If you’re interested in business process outsourcing (BPO) and wondering how much you can increase revenue by doing so, take a look at the key advantages that experienced BPO companies offer. If you need to convince your company management to approve the idea of outsourcing, just present a spreadsheet outlining the costs of doing all of the below activities in-house: (or grab a copy of our Cost Savings template):
Topics: Business Process Outsourcing, healthcare receivable management, Revenue Cycle Management
