How a company redefine success by outsourcing healthcare services to FBSPL?
Highlights
- The increasing number of healthcare service providers recognize that healthcare outsourcing is the need of the hour.
- Companies look for an outsourcing partner who is an expert in the niche field and renders cost-effective solutions.
- FAs a company that administers Account Receivable and Medical Billing, we enhanced their service and operations.
- Medical & healthcare BPO have improved certain aspects of the quality and responsiveness of direct healthcare services.
Case Summary
The increasing number of healthcare service providers like our client recognize that healthcare BPO services such as patient reconciliation, outsourcing medical billing management, follow-up with several insurance companies, MD schedule and account receivable management are the right way of controlling cost and enhancing customer service. Also, healthcare recruitment can cause unnecessary headaches. Thus, it became essential to assess the solution to solve the prevailing problem and optimize the budget realistically.
The Client
Being in healthcare industry, it aims to lead the world with better healthcare solutions and a vendor that understands and lives up to the patient's expectations.
Our healthcare client is one of the largest hospitalist groups giving the highest quality patient care and nursing facilities. The client needed to tie up with a partner overseeing the accounts receivable and medical billing operations.
The client aims to render the best support services for the patients and their families by optimizing the process functions and increasing the response rate. Also, in identifying the revenue cycle management, the client wants to organize the data related to cash collection, medical Billing, medical reimbursement, insurance analysis, etc.
The Challenge
While handling the operations from a general outlook, one fine morning, the administration identified a few issues—the central issue for a few days of receiving complaints required significant attention.
It said senior management wanted to standardize AR management and medical Billing. The client's existing billing team had an error rate of 4%. Achieving an error rate of 2% was a huge challenge. In short, they were looking for a partner who is an expert in the niche field and renders cost-effective solutions.
The task requirement took a lot of work to fulfil and manage in-house as the internal departments care for patient treatment and hospitality. In contrast, managing accounts receivable and medical billings was required to be outsourced.
The Approach
Fusion Business Solutions extended help to the client by building dedicated operating teams in-house. Establish a group that the client needs to meet all the customs requirements, including process, technology, and security.
The resolution of issues by FBSPL can be illustrated in the following ways:
- The remote team encoded insurance payments and adjustments from the explanation using the client's medical billing software.
- Keep track of insurance providers' websites and call the representative to obtain the claim's status.
- After that, raise a flag for the denied claims and call patients to make payment arrangements.
The Outcome
There was a significant difference before and after the collaboration with FBSPL. As a healthcare business process outsourcing company that administers Account Receivable and Medical Billing, we enhanced their service and operations.
In addition to the service gaps, the client encountered a few value-added services that resulted in the following:
- Improvement of patient satisfaction and customer loyalty.
- Significant reduction in internal costs.
- Improved quality of services and increase in profitability.
Outsourcing primary healthcare services have improved certain aspects of the quality and responsiveness of direct healthcare processes. The results were highly positive, and the client chose to continue the benefits of FBSPL team.
