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
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
When you buy a car, it’s your job as a buyer to get the most amount of car for the least amount of cash.
Topics: change management, Services Vendor, Outsourcing, healthcare receivable management
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
Before I started making sales pitches to CFOs, Directors, and VPs on why I think they should make VARO Healthcare an extension of their business office, I was making sales pitches to regular people (all jobs aside) - in their homes. And guess what I was selling? I was selling cemetery plots. Yep. But, it was BEFORE death. Awkward. Cold-calling daily and making appointments with people in their homes to convince them to pre-plan their funeral expenses. I’d go through an entire presentation all the while trying to evoke some sort of emotion about how much better it is to pre-plan rather than put your family through the hassle of dealing with it after they die. Weird, I know. It’s difficult to persuade people to believe in what you’re selling, even though YOU believe in it, “yes, you should spend XYZ now to pre-plan so your family won’t have to later”.
Topics: Hospitals, change management, Outsourcing, Revenue Cycle Management
Outsourcing call center services can be a money saver but it can also cause the loss of valuable business and ruin patient satisfaction scores — IF you select the wrong outsourcing company. Outsourcing makes sense for many organizations because you can gain expertise in areas your organization doesn’t focus on, like patient receivables. Outsourcing call center services relieves you of training, supervision and turnover costs, allowing your core staff to focus on your core business – the patients.
Topics: patient protection, call centers, call center, patient satisfaction, Outsourcing
In a past career I needed to develop a better revenue forecasting and goal model for a centralized recovery operation (I oversaw the Agency Management arm of that recovery operation). What I wanted was a model that could accurately forecast gross and net revenues, account for multiple product lines, quickly roll-up numbers (product line, division, corporate) and drill down on numbers (vendor, batch, month), and establish goals for vendors.
Topics: vendor management, Outsourcing, Revenue Cycle Management
