Managing healthcare operations has never been a simple task, and with the Patient Protection and Affordable Care Act soon to be fully implemented in the United States, providers may have even more of a reason to consider outsourcing healthcare revenue cycle management. While parts of the ACA have already been introduced, requirements that may drain facility resources have yet to take effect, and companies may want to start the outsourcing process before they are tasked with more tasks than they can handle.
The ACA put in place a variety of new requirements for healthcare providers, and failing to comply with the legislation could put these organizations at risk for fines and be put behind their competitors. As a result, it’s essential for providers to abide by the mandates as quickly as possible. However, many businesses may find the new tasks required of them too time-consuming or costly to handle on-site. This draws some to outsourcing companies that can complete the tasks more efficiently and in a less expensive manner than could be achieved in-house.
New requirements put additional demands on healthcare companies
One of the changes that will alter how healthcare companies function is the standardization of electronic medical records. The industry has long relied upon paper documents to track patient information and billing, but most providers are already slowly making the switch to a more modern form of record keeping.
The new system is intended to cut costs and paper use, make it easier for physicians to access patient data, limit administrative burdens and reduce medical errors. Even though the requirement may have been well intentioned, it could initially create another costly and time-consuming task for administrators to cope with, especially for companies that lack the technical support to get such a system up and running and manage it as necessary.
Though electronic records may streamline processes within facilities, it also creates an additional need for IT services and assistance. As a result, more companies may choose to outsource their new IT needs that come with the implementation of these systems. Working with a BPO company allows these healthcare organizations to focus on providing patient care and improving other strategies, rather than spending additional time and resources developing an internal IT team that can assist as the digital record systems are launched.