Extended Business Office for Revenue Cycle Management ServicesMonday, October 15, 2012 10:08
In this fast-paced world, several business organizations compete with one another – not just make profits and grow – but to earn the goodwill and trust of their clients as well. In that list, US based medical billing companies are no exception! The demands and deadlines set by the clients are high and so are their expectations. Working in a normal and steady phase will not help in satisfying their needs. One has to work exponentially harder without compromising on the quality to meet such tight deadlines, which is definitely a herculean task. That’s where the idea of business office extension comes in. A US based medical billing and coding company can extend its business office to an offshore company in which a team of dedicated professionals will work solely for the US company. The advantages are many and they are as follows:
No Additional Investment: By outsourcing a few medical billing processes to an offshore medical billing company, the US based organization can save costs on getting additional resources. Recruiting new people and training them in the intended field will call for more investment. In addition, the US based medical billing company also has to invest on the technology and infrastructure to carry out the process. All these things put together will cost a small fortune for the billing company. Therefore, extending the business office to an offshore billing company would be the more prudent choice.
Additional Office Space: The US outsourced medical billing company will not have any necessity to extend its office space in the event of outsourcing a few services to an offshore medical billing vendor. The cost for space extension is saved as are the overhead expenses.
Handle Risks: Sometimes, a US based medical billing and coding company may face a shortage of employees or any a cyclical business volumes. In such cases, the offshore team can handle the variance in work volumes efficiently without any discrepancies in the output.
Work 21/5: One of the major advantages of outsourcing medical billing processes to an offshore company located in a country like India is that employees can work in multiple shifts for up to 21 hours a day to get the work done faster than anticipated. Therefore, the core company can deliver the processed output to its client as promised or even before the TAT deadline. That’s the best way to maintain a healthy healthcare revenue cycle management and earn the goodwill of a client, isn’t it?