Have your revenue cycle operations been hit by the ongoing, post-pandemic labor shortage? You’re not alone. The Association of American Medical Colleges forecasts a shortfall of 1.1 million registered nurses by the end of 2022 and 122,000 physicians by 2032. Recent statistics also show a 35% turnover in healthcare assistance jobs. According to this data, […]
Healthcare providers are under pressure to optimize revenue cycle operations as value-based care and consumption of healthcare services continue to soar. KPIs help assess organizational functions. Are you one of those providers keen to develop KPIs that can help track revenue cycle efficiency? It’s understandable if that’s where you’re at. Sandra Wolfskill, Director of Healthcare, […]
Every industry is brimming with buzzwords and trends leaving many of us wondering what the latest one has to do with our lives. Relevance is important. Have you recently come across the term ‘revenue integrity’ and wondered what it really means? You’re not alone. Revenue integrity (RI) is a subjective term and its interpretation can […]
Is your revenue cycle a mess? Are you in a pickle about how to streamline it? You’re not alone. Even though every healthcare organization must follow the same steps to manage their revenue cycle, many seem to struggle with the process. We’ve curated this list of top 7 revenue cycle best practices to help you […]
Healthcare is transforming as organizations have begun tracking industry trends to improve revenue cycle management (RCM). Medical organizations must operate at maximum efficiency to keep up with high competition. The status of medical billing and revenue cycle are two important focus areas that allow healthcare setups to excel. Healthcare RCM steps in at this point […]
Building a strong revenue cycle and providing quality care are two of the most important responsibilities of healthcare organizations. The 2020 CAQH Index indicates that the healthcare industry could save nearly $16.3 billion in administrative transactions by switching to electronic transactions. The same study also shows that medical representatives spend roughly 11 more minutes on […]
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Outsourcing offers a number of benefits that are crucial to helping you scale your business—streamlining operations and processes, creating cost efficiencies, focusing on your core and increasing efficiency, to name a few.By outsourcing processes that are holding your business back, you get more time to deliver quality services to your customers. What’s more, you ask? 3rd party outsourcing companies level the playing field for small and medium-sized businesses who can’t afford in-house process management teams, like the bigger corporates. Outsourcing business process management also helps reduce operational costs and lets you tap into a global talent pool with subject matter knowledge. Explore our website to learn more or get in touch and we’ll be happy to answer any specific questions you have.
There are a number of onshore and offshoreoutsourcing companies in USA and other countries, making the job of choosing the right provider even more difficult. However, here are a few tips to help you shortlist.
At the outset, assess your business requirements and research thoroughly. Shortlist three outsourcing providers based on your requirement criteria. Next, ask questions—this can include questions about compliances, experience, pricing structure, modes of communication, operation timings, subject matter expertise and so on.
The third-party outsourcing service provider should understand your business and the goals you are trying to accomplish as a result of the collaboration. Get in touch today to build a customized solution for your business.
There are a plethora of benefits to working with athird-party outsourcing provider.
Cost Savings: Outsourcing providers can help you avoid fixed costs by offering access to talent and technology based on consumer demand.
Increased Efficiency:3rd party outsourcing providers have extensive experience in handling various business processes. As a result, they are better equipped to understand your challenges and quickly drive results and improve efficiency.
Focus On Your Core: Outsourcing providers can free your staff from repetitive, error-prone tasks and help you focus your time entirely on quality service delivery, business expansion and bottom line management.
Save on Infrastructure: The responsibility for infrastructure development and maintenancelies with the outsourcing provider who manages various processes assigned to them.
24X7 Operational Capability: Offshore agencies may operate on a different time zone. However, this allows the provider to offer uninterrupted services round-the-clock, even when you are closed for business.
HelioNext has over 15 years of experience helping SMBs streamline their operations—we’re here to help build a customized solution for you. Get in touch today!
It really depends on which aspect of your business you’re willing to manage.
Usually, outsourcing companies in USA help manage your day-to-day business functions so that you can invest your time and energy in scaling your business, improving customer experience and increasing your client footprint and cashflow.
3rd party outsourcing providers also make use of technologies like automation and artificial intelligence to streamline business processes for you. Also, they constantly provide clear insights to keep you updated about business performance.
Outsourcing companies in USA or anywhere else in the world will integrate tech-based solutions to automate your business processes. Automation helps eliminate disruptionsto costs and service delivery, improve efficiency and streamline process.
These providers also use artificial intelligence to generate real-time performance reports. As a result, you stay ahead of the game, and they manage all challenges and issues, efficiently. Want to learn more? Get in touch today.
The Coronavirus outbreak has given rise to a new landscape and challenges for most businesses. During the pandemic, many businesses experienced a major decline in demand and revenue. Some businesses have also struggled to manage processes and service delivery because of a spike in demand. Third-party outsourcing can be a respite for both kinds of businesses.
Outsourcing has also proven to be cost-effective for most businesses by saving fixed costs related to training, hiring, infrastructure maintenance, technology implementation and a lot more.
In highly regulated industries like healthcare, mortgage and legal services, we understand the critical need for risk monitoring, policy reviews and maintaining awareness about current laws and regulations.As a third-party outsourcing company, HelioNext adheres to the following compliances and certifications:
HelioNext offers the following services through onshore and offshore delivery models:
Revenue Cycle Management: Revenue cycle analytics dashboard, healthcare revenue management, medical coding or health information management, medical billing and electronic data management. Learn more here
Mortgage Loan Processing:
Mortgage loan handling, mortgage automation and pre/post-audit optimization solutions. Learn more here
Legal Process Outsourcing:
Drafting, e-filing, A/R management, paralegal support and title review. Learn more here