Healthcare BPO Support Service

Healthcare BPO Meaning

Healthcare is such an important word. Everyone is concerned about their health. That’s why patients go beyond their means to have the best services out there.

That’s why the whole healthcare industry is innovating on ways to provide it. But can they keep up with the growing demand for better services and programs?

That’s where Healthcare Business Process Outsourcing or Healthcare BPO comes in. They keep the process manageable. They provide support to healthcare institutions by processing back end jobs. While businesses innovate to find better ways to serve the people.

The most common healthcare BPO services that companies outsource are:

• Medical Transcription
• Medical Coding
• Medical Billing
• Claims Processing
• Data Entry Services

Hiring a BPO starts by selecting the right service provider that fits your needs. After you get in touch with them, decide on your terms and conditions. Eventually, you will meet your team of agents that will help you achieve your needs.

What is the role of a Healthcare BPO Service Provider?

Healthcare providers play a vital role in the community. They provide assistance based on the needs of their patients. Whether it’s evaluating illnesses, providing treatment, or giving health advice. These businesses help in maintaining the overall wellness of people.

Healthcare providers even act as liaisons between patients and insurance companies. Usually, businesses employ administrators, receptionists, and managers to keep the operations running. And have their medical staff focus on doing the core processes. That’s why administrative work is something inherent in the healthcare industry.

So what is the role of a healthcare BPO with all these?

Business process outsourcing companies assist in processing data that consumes time. They conduct meticulous analysis and convert information to meaningful figures.

While healthcare professionals spend their time on the core processes of their business. The healthcare BPO takes care of the paper works and other record-related stuff. Additionally, healthcare service providers help in dealing with customer inquiries and concerns.

In short, healthcare BPO's role is to make the job of healthcare businesses easier.

• 11% - The percentage of the healthcare sector is expected to grow. Between 7.3%-10.8% in revenues, and 6.8%-10.2% in headcount by 2019-2022. Meaning, healthcare BPO is the future of the industry.
• 31% - The percentage of businesses who said that they experienced a rise in service quality.
• 40% - The cost to the business every time an employee multi-task. By letting our agents concentrate on other small or big activities, BPO can lower this figure.
• 45% - The percentage of work that can now be outsourced. This means that businesses can focus on paying highly skilled employees. And have a fraction of the process be taken care of by BPOs.
• 78% - Of modern companies around the world who use outsourcing report feeling happy.
• $5 Trillion - The annual collective amount businesses can save. If they removed repetitive tasks like answering emails and setting schedules.

See? Partnering with a business process outsourcing company has a wide range of benefits. Plus, we can get the best talent in your chosen area like transcription, coding, and billing.

Outsourcing a healthcare BPO really enhances the quality of patient care. From diagnosis, check-in, recovery, to release, we got your back. Getting a partner to do healthcare services minimizes critical mistakes. It can also lead to more efficient processing.

BPO in the Philippines

If you are wondering if outsourcing to the Philippines would be ideal for your business, here are the things that you need to know:

• BPO helps in generating 1.3 million direct jobs. The industry also generated 4.08 million indirect jobs. If you need people, we have them.
• The Philippines remains the world's call center capital. We have overtaken our closest rival, India, with 16% to 18% of the global market share.
• Our cities made it to the 2020 Tholons Top 100 Global Outsourcing with Manila making it to 4th and Cebu placing 11th.

Why is there a need for a healthcare BPO?

Simple. We need healthcare BPO because we are not getting any younger.

• In a recent census, the life expectancy in the United States is 79.11. This put the USA 46th out of 191 countries.
• Projections also estimate a rise in the number of Americans ages 65 and older. The figures show that from 52 million in 2018 it will nearly double to 95 million by 2060. The percentage of 65-and-older age group from the total population will rise from 16% to 23%.

Hence, this aging population will continue to boost the demand for healthcare services. As people get older, they become more prone to many diseases and other health concerns.

• Moreover, people who are currently in need of medical care below the age of 65, will also need help..
• According to the Center for Disease Control and Prevention report. 20.7 million adults experience health difficulty. Meaning, they experience hardship or cannot do at all at least one out of the six domains of functioning. These domains are seeing, hearing, mobility, communication, cognition, and self-care.

The number of patients will increase. So does the need for more cost-effective support from different healthcare institutions.

The reality is, taking care of someone’s health is very challenging. It’s extra grueling if we take into consideration that we are currently in a pandemic. Healthcare professionals will be too preoccupied. They will be too busy focusing on the more important part of their job — to save lives. Handling the surge of patients will be impossible without messing up the paperwork.

But with the help of a healthcare BPO, recording transactions will be a lot easier and smoother. Institutions can focus on serving their patients' needs. And healthcare outsourcing companies will handle the transactions in-between.

Why choose a healthcare BPO provider in the Philippines?

Aside from the strong medical background of Filipinos, we also have a good grasp of the English language.

Moreover, one of the main benefits of choosing a service provider in the Philippines is the cost-effectiveness with high-quality results according to the chart provided by Business World.

Here are more reasons why the Philippines is an ideal healthcare outsourcing destination:

• The Philippines has a large nursing talent pool based on the Everest Group. The medical professionals in this country have both the medical knowledge and skills as well as the innate good customer service as Filipinos are known to be hospitable.
• In 2014, there were more than sixty thousand (60,000) medical professionals, which is equal to 47% rise in the sector of business process outsourcing.
• Meanwhile, in 2015, the Philippines gained more than eighty-seven thousand (87,000) healthcare workers in the BPO industry. It is equivalent to $3 billion in annual revenues with 30% growth rate which is a huge jump for the sector.
• In 2016, the additional jobs related to the healthcare outsourcing sector reached about a hundred thousand (100,000).
• BPO industry officials expect almost 700,000 additional opportunities for medium and high-skill jobs by 2022.

The business process outsourcing industry in the Philippines has a highly competitive advantage compared to other countries offering the same services as the sector is continuously maturing in terms of capabilities, competitiveness, and many more.

Executives from the Department of Trade and Industry as well as in the Healthcare Information Management Association of the Philippines highlighted that the country has a huge talent pool who are also good speakers of American English. It is ideal to consider this as many of the outsourcing clients are from the United States.

Some of the other factors that continue to attract investors in the country are the facts that Filipino healthcare workers are a natural fit for the job, they have a high level of education, and they also have a competitive labor rate that is significantly lower than other countries listed in the top outsourcing destinations.

The healthcare business process outsourcing sector in the Philippines has no signs of slowing down. Instead, it is continuously growing, especially in 2020 when the pandemic hit the globe. Many healthcare institutions started to outsource some of the areas of their business.