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Top Reasons Why Physicians Outsource
Medical practices, like podiatry, have been struggling to keep up with the never-ending changes geared toward digital healthcare. Imposed use of electronic health records and increasing insurance verification requirements slow them down. These pain points barely skim the surface of the many reasons why physicians outsource.
Outsourcing as a Cost-Cutting Tool
The 2016 Deloitte Global Outsourcing Survey revealed 59% of the respondents outsource to save resources. About 11% of the participants came from the life sciences and healthcare sectors.
Take for example the in-house medical billers who come with hefty costs. Employers pay for their salaries, benefits, training resources and work equipment. When they call in sick or take a leave, the practice is left to deal with possible disruptions in cash flow because of the void that they leave behind.
So, in an effort to mitigate these financial strains, more and more physicians have started to outsource medical billing. This move incurs less costs in return for equal, if not higher, quality of output.
Appointment cancelations at the eleventh hour can also put a dent in your workflow and practice profitability. What if the patient does not show up for their scheduled appointment? Outsourcing service for the simple task of confirming appointments-that your team members are too busy to handle-will help prevent big losses.
Empowering the Staff
In the same Deloitte survey, 57% of the respondents outsource to focus on core business processes. Taking away the menial tasks that hamper an employee’s opportunity to excel in their role will help them come a long way.
Imagine your back office staff who does best with patient care is saddled with the responsibility to complete your backlog of progress notes. Or when your office manager becomes burdened with answering insurance-related patient inquiries, their ability to become efficient and proficient is impeded.
This challenge also applies to the physician, especially when they are preoccupied with updating your EHR. When you find yourself pecking at or speaking to your computer more than you are to your patient during encounters, are you really providing them the care they deserve?
Such processes are important in your practice. However, they can also drain you and your staff of the energy needed to fulfill your primary roles (excellent patient care). Practices that outsource services can enjoy increased productivity, strategic development, and patient satisfaction.
Addressing the Technological Gap
In a followup 2018 Deloitte Survey, 93% of respondents were considering or adopting cloud-based technology. The top-contending objective was catalyzed IT innovation, the third being improved business performance.
It is no news that technology is a double-edged sword. Automations streamline business functions but also open up some gaps in your processes that must be stoppered. However, the right strategies can put technology’s greatest advantages to use.
Cloud-based technology gives your practice an array of opportunities for collaborations and outsourced services. There is appointment scheduling, medical charting, and even billing, to name a few.
Let’s face it: some patients put off a trip to the doctor’s office until the last minute. Once cured, they are less likely to return for continued, sustained care. After all, medical appointments do not come cheap-and neither does commuting.
All these considerations ultimately go back to patient care and satisfaction. The stressors of donning multiple hats to keep your practice afloat can damage the physician-patient relationship that you have trained so hard to develop.
Of course, outsourcing poses the risk of compromised patient health information. Hence, appropriate safety measures are requisite when making this big move.
At BMDS, we believe in the power of outsourcing to improve medical practices. Our medical distant assistant services aim to rid physicians of the burden of disproportionate overhead costs, demoralized staff, and dissatisfied patients. All that with the security of maintaining your patients’ privacy and safety.
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