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Running a Medical Practice? Consider Outsourcing

by: Sidney Liquigan

Monday, November 6, 2017 |

Deloitte's 2016 Global Outsourcing Survey shows that 78% of respondents felt positive about their outsourcing relationship. Further, the major reasons companies outsource are to cut costs (59%), to focus on core business (57%), and to solve capacity issues (47%). Benefits of outsourcing also include enhanced service quality, access to intellectual capital, managed business environments, and broader transformational change.

The survey also identified the types of businesses that benefit from outsourcing, and they include medical practices. Running a medical practice? In order to keep up with the ever-changing demands of the medical industry, outsourcing should play a big part in your business plan.

Outsourcing as a business strategy

Outsource Routine Tasks

Do you have employees that handle more responsibilities other than the assignment they were hired for? Most of these are routine tasks that can take away a significant amount of time that your employees could have allocated to their true skill set. Not only does this make them inefficient in their respective real jobs, there is also no guarantee that the additional tasks will be completed fruitfully.

Outsourcing is the solution to these issues. Outsourcing to providers with the right skill set for the tasks will free up your employees' time to focus and improve on their jobs, and the routine tasks will be accomplished more effectively. Outsourcing also gives you access to the latest and extensive tools, technologies, and best practices that help drive your competitive advantage.

Increased Efficiency at Lower Costs

Don't hesitate to spend for outsourced services; in the long run, they will help improve your medical company's profit. Outsourcing provides additional manpower and resources without you having to worry about overhead expenses. Outsourcing is ideal not just for regular, routine tasks, but also for occasional and seasonal tasks. Instead of hiring an in-house staff, you can outsource these tasks only as needed.

By outsourcing work, your employees won't have to juggle multiple responsibilities and will have more time to be more proficient in their job, resulting in reduced stress and improved productivity and employee satisfaction. And as a result, more tasks will be accomplished in a shorter time, thus also improving customer satisfaction.

Tasks You Can Outsource

Tasks that medical practices can outsource include medical billing and medical encoding. These tasks are particularly time-consuming and require accuracy and attention to details. Outsourcing medical billing guarantees a more efficient medical billing process handled by an entire team of highly-skilled specialists. On the same hand, outsourcing medical encoding ensures that written clinical statements are analyzed and coded by qualified medical encoders using a standardized system.

And it's not only medical processes you can outsource. Medical practices can also achieve almost a full ROI in three months by outsourcing IT functions. You can also cut costs further by outsourcing other business functions such as accounting, recruitment and even creative services and online marketing for your communications and marketing campaigns.

Get in touch with MicroSourcing to learn more about how your medical practice can make the most out of outsourcing.

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