How To Be The Best Healthcare BPO

 

Healthcare BPO in the Philippines – Why We’re the Best

Healthcare enterprises like hospitals and clinics may serve a bigger purpose, but they are businesses still. It’s a delicate balancing act – especially for an industry with low margins and high expectations.

Every business must consider managing costs and output to grow and thrive.

Magellan Solutions’ Healthcare BPO is a business solution – and a resourcing strategy – that can benefit both sides of the business equation.

Why Magellan Solutions’ Healthcare Process Outsourcing Makes a Great Solution

Healthcare organizations may benefit from our revenue cycle management (RCM) to help shorten the billing cycle and capture every possible revenue.

Our RCMs balance costs and deliverables better than any other solution/provider. We maximize value for your business and contribute to the fast-growing, ever-evolving BPO industry and outsourcing solutions.

Through Magellan Solutions’ RCM, we can help you become the best healthcare BPO provider. We provide practical solutions to the following challenges often met by healthcare businesses in the market:

• Shortage of skilled talent to meet the growing need for medical and non-medical personnel.
• Size constraints make increasing staffing or adding a full-time specialized position difficult or impossible.
• Budget constraints, regardless of business size, affect operations and capital investment decisions.
• Complex and ever-changing compliance requirements.
• Well-informed patients who expect top-quality, personalized care at an affordable cost.
• Fierce competition, not only from other providers but a widening range of peripheral businesses that are entering the
  healthcare arena
  
• Non-medical concerns include cybersecurity, with threats to digital health records, other patient data, and the organization’s business and financial data.

Magellan Solutions is a Benefit for Your Business in More Ways Than One

In recent years, providers have successfully expanded patient services and quality by outsourcing clinical services.

However, the trend is now shifting toward outsourced business processes. Many have evolved into different niche solutions that are function/industry-specific.

Traditionally, non-medical functions such as housekeeping, dietary services, or security are now commonly outsourced. Despite this, business functions must be performed onsite, which means outsourcing opportunities must remain local.

However, there are a multitude of other roles that rely heavily on technology. This opens the door to a wide range of healthcare outsourcing opportunities.

• Patient scheduling and follow-up.
• Administration and recordkeeping (medical coding, charting, transcription, claims processing, billing, payment processing).
• IT (cybersecurity, systems design for digital transformation, data management)
• Customer care (service/support)
• Compliance management
• Financial management and accounting
• Human resources
  
• Sales
  
• Marketing

While these tasks are not core healthcare business functions, they are vital to running an efficient operation.

The 8 Benefits of Magellan Solutions’ Healthcare BPO Industry

With our myriad of services available and our impeccable expertise in each, Magellan Solutions can offer higher quality solutions compared to other healthcare process outsourcing:

Some of this expertise include:

1. IT leading the way

Digital transformation has become essential across all industries.

Our team of IT professionals enhance patient care and facilitate electronic recordkeeping and data security.

However, as critical as technology and tech services are, IT is not a core function. That makes it an ideal outsourcing opportunity for us.

2. Growth of RCM

According to Black Book, between 2015 and 2018 alone, the demand for full revenue cycle management outsourcing increased 86%.

Globally, this sector is expected to grow from $52 billion in 2019 to $258 billion by 2027, a rate of 13% annually.

Because of its continuous growth, we guarantee that Magellan Solutions is the best partner for your RCM needs. We can handle everything, from hiring and monitoring your team.

3. Competition for good talent

Competition for well-trained, experienced personnel is tough. Furthermore, personnel costs represent a significant component of any organization’s budget.

If appropriately implemented, Magellan Solutions can help cure many of the most challenging symptoms providers face today. We can improve operations efficiency and productivity to support desired growth while mitigating growing pains.

Lastly, we deliver higher quality customer service and patient outcomes than other call centers.

4. Better cost control

Acquiring and maintaining technology is a significant expense. Requiring substantial capital investment for upgrading or replacement and never-ending maintenance costs.

At Magellan Solutions, we can shift this burden and help healthcare organizations improve cash flow management and capital investment strategy.

We also decrease out-of-pocket HR expenses for recruiting, training, and maintaining skilled personnel for as much as 70% savings. We reduce turnover, saving direct costs of employee replacement and retraining and indirect costs of productivity lapses and mistakes.

Outsourcing with us can also shorten the revenue cycle, significantly improving cash flow. It can also increase overall revenue through improved collections.

5. Competitive edge

Magellan Solutions provides a wealth of talent and increased capabilities, not possible for in-house personnel.

Thanks to our inherent flexibility, healthcare organizations can gain valuable scalability. Agility is mission-critical in healthcare to facilitate planned growth, support fluctuating needs, and adapt to unforeseen changes.

Furthermore, we expand capacity to generate more significant revenue by taking on more patients and offering a more excellent range of medical services.

6. Better outcomes

We can increase quality and efficiency in numerous ways. But it does not mean giving up control. Instead, it means shifting the “who and where.”

Here at Magellan Solutions, we focus on broader management issues and improving service quality.

We want to relieve staff of routine administrative work and free their time. We are aware that organizations’ priority is to focus on patients and their care. As a result, we improve medical professionals’ and staff’s health and morale.

Happier staff means less turnover and therefore further savings. Satisfied patients are more likely to remain loyal and help promote the provider to others, increasing long-term revenue.

7. Avoid critical mistakes

Errors in the healthcare sector, especially in the patients’ medical records, can cost lives.

According to Healthcare Business Tech, close to $125 billion is lost yearly due to poor billing practices. Medical bills also contain many errors, as changing billing rules and regulations are rarely updated on time.

We strictly adhere to rules and regulations set by the Health Insurance Portability and Accountability Act (HIPAA). This ensures that patient records remain private and are not wrongly entered.

8. Lowering costs

In an industry as competitive as healthcare, the main aim of businesses is to look at ways to reduce expenses.

Magellan Solutions helps save a significant amount of money when organizations choose to outsource their tasks to us.

We handle a large team of professionals on behalf of the healthcare company, thereby saving the company the cost of acquiring additional staff and training them. Our team keeps organizations updated with the latest changes in regulations and standards.

Various healthcare companies consider us for cost savings and have better control over the cost of the outsourced function.

Take your Business to New Heights with Magellan Solutions Healthcare Process BPO

Improve the quality of life by improving the quality of your healthcare enterprise.

As a proud leader of 18 years in the global healthcare outsourcing industry, Magellan Solutions brings extensive, directly relevant experience partnering with providers and a wealth of highly skilled talent to address your specific needs. We help save as much as 70% compared to in-house employees.

Contact us today for a no-cost evaluation of your opportunities. Drop us a line today.