In-house vs Healthcare BPO Support Services – Which is Better for Business?

The Pros and Cons of Healthcare BPO Support Service

The healthcare industry is one of the most crucial sectors, especially in the recent times.

Just like any other enterprise, healthcare companies are also a big population among businesses that are outsourcing business solutions for their daily operations.

Healthcare BPO Support Services come in many forms. From phone answering services to online consultations, healthcare companies are finding more ways to improve their operations and boost their services as one of the most important sectors.

And because the services they provide are vital to society as a whole, their operations and functions must be smooth and well-handled, especially in financial matters.

How a BPO Support Services Tackles Medical Billing

Medical billing is one of the many new business solutions available for outsourcing. There are numerous benefits to having a reliable, outsourced healthcare BPO support service to handle billing and payment processes for your healthcare company.

Healthcare BPO support services cover a big range of operational functions such as collecting payment, updating accounts reflecting upgrades and other changes, entertaining customer concerns about payment, processing payments, and even storing patient info and updating their data.

For an industry as busy and as essential as healthcare, it’s beneficial to have expert assistance when it comes to business functions that are often overlooked due to the hectic nature of the industry.

And, aside from saving time and costs, outsourcing healthcare call center services can assure you that all billing and payment are handled expertly, while you have more time to focus on giving life-saving healthcare to patients.

In-house vs Outsourcing: Which is Better?

While it’s easy to assume that building your own Billing and Payment department in-house would be a more cost-effective option, you’d be surprised that the combined cost of the hiring process would cost you a lot more than you expect.

Whatever the size of your business may be, investments need to be made wisely, and sometimes, what seems initially costly ends up saving you a lot of expenses in the future.

Call center services providers often offer package rates inclusive of all costs of operation – call rates, employee benefits, activation fees and the like – drafted to suit the business and the services it would like to acquire.

Delving more into which better suits your business, let’s check the pros and cons of both.

In-House Medical Billing

Most companies prefer in-house medical billing operations for many reasons. Some employees are able to fill dual roles, while some prefer to hand over the payment processes to tenured employees who have the trust and confidence of the company.

For small businesses currently on the verge of expanding, more patrons and patients mean a higher volume of bills issued and payments processed, which may overwhelm in-house staff, especially those who are in dual roles.

Pros

Better Control

Having an in-house payment department helps the company have better control over operations, as well as the safekeeping and confidentiality of transactions. Transactions, especially ones who are more confidential than the rest, are secured within the company and its employees.

Also, tenured employees are trusted by the company to handle these matters, out of trust and confidence.

Close Proximity

Location-wise, having an in-house billing staff seems more convenient.

In any case some issues arise, the billing and payment staff are just within reach, for a quicker relay of information and course of action.

Cons

More Expenses

Building your own in-house billing staff is more than just putting together a team.

Employees, despite some background/knowledge about the function, need to be cultivated through training. Finances are an important but also tricky function that requires people who know how to navigate it.

Minimal Support 

Billing and payments in every company are almost always composed of just a few people – an accountant, a bookkeeper and an assistant, or two.

Usually, when one of the key people file for leave or leave the company altogether, the processes are stalled, or worse, paused indefinitely.

Outsourcing Medical Billing

Outsourcing may seem complex at first, it’s actually a practical option, especially for growing businesses.

Contrary to popular belief, it’s not just larger establishments that can outsource business solutions, such as healthcare call center support. Healthcare support BPO for SMEs are now providing solutions such as medical billing and collection services, online consultation and many other functions to many healthcare businesses out there.

Pros

Cost-Effective

Outsourcing business functions are more cost-effective than a lot of people expect.

Healthcare call center support providers offer rates that cover everything, from call rates to activation fees – which, in the grand scheme of things, is much more practical compared to direct hiring costs.

Outsourcing medical billing services also assure you that your billing and payment are handled by capable staff.

Consistent Efficiency

Outsourcing medical billing services not just supplies you with staff; it shares the responsibility of keeping properly selecting and training staff to keep your billing and payment processes streamlined.

Aside from lesser worries in recruitment, outsourcing healthcare support services can assure you of expert and professional handling of all your billing and payments, as outsourced business solutions providers are very particular about quality assurance.

Cons

Relinquishing Responsibilities

Outsourcing may have you giving away aspects of management to your provider.

While this may seem like a peculiar idea at first, you can rest easy as call center providers are well equipped and capable in handling staff and operations.

Before you begin, it helps to let your provider know how you like work done so they can run operations and train staff the way you see fit.

Variable Expenses

Call centers, like every other investment, tend to be variable, depending on the state of business. Essentially, the more money you bring in, the more you might need to shell out.

Factors like industry trends and peak seasons can reflect in the costs, as changes in the volume of calls and other incidental expenses reflect in the rates.

Outsourced Healthcare Service is the Way to Go

The healthcare industry is one of the most essential and most beneficial sectors worldwide.

And given the current public health crisis, more and more healthcare enterprises are springing up to help alleviate the situation and provide a form of economic support as well.

While in-house medical billing seems more practical, outsourcing would actually be a more feasible option, especially in the current situation. Outsourcing not just provides professional and guaranteed capable staff, but also flexibility in terms and services, as it recognizes (and is prepared for) the fluctuating nature of business as a whole.

Streamline your medical billing and payment processes through reliable, cost-effective healthcare call center support. Have more time helping improve and save lives while experts handle your business for you.

Magellan Solutions Provides Quality Healthcare BPO Support Services for Every Purpose

Magellan Solutions is an ISO-certified call center services provider that offers high quality healthcare call center support services.

We offer a wide range of business solutions catering especially to small and medium enterprises (SME). With more than 13 years of industry experience, we pride ourselves in quality, cost effective services designed to help you take your business further.

Get better support for better business. Contact us here now for more details.

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