Tips for Healthcare Executives
Building a Successful Partnership with Outsourced Enrollment Period Help
Open enrollment is often stressful and hectic. Without the right support, staff can easily become overwhelmed, and their work can suffer. Finding the right solutions to these problems is important, which is where outsourcing can be helpful.
The Open Enrollment Period can be crucial for insurance businesses in the healthcare sector. From completing paperwork and helping with policy selection to sorting through medical billing, many different things need to be done. Outsourcing is quickly becoming a popular method for keeping up with the demands of enrollment periods, with the healthcare BPO market estimated to reach $132B by 2025.
Who Outsources & What Tasks Can Providers Assist With?
We’ve already established that outsourcing is a common practice, but who is benefiting from it in healthcare? There are a variety of healthcare sectors that commonly outsource, especially during enrollment periods.
Hospital infrastructure management is often outsourced. Outsourcing partners can help improve efficiency and establish proven workflows.
Health Insurance Providers
Insurance companies utilize outsourced talent to meet surging demand during enrollment periods, payer Medicare, group and commercials licensed agents for enrollment.
From clinical and patient care services to payroll management, outsourcing can empower clinics to do what they do best: focus on patients.
Specialist offices often don’t have the large staff that clinics and nursing homes do, so outsourcing is an ideal way to ensure operation without expanding the internal team.
Mental Health Facilities
Medical billing and policy compliance can be complicated in the mental health field, so working with experts is a great way to get peace of mind.
With data entry taking up a large portion of a lab’s operation time, outsourcing can relieve professionals to focus on more specialized tasks.
Nursing Homes and Assisted Living Facilities
With nursing home and assisted living facility budgets getting tighter and tighter, finding ways to provide the same high-quality services at a lower cost is essential. Outsourcing is an excellent way to access experienced employees without paying for the costs associated with full-time hires. Maintaining compliance standards is often improved through outsourcing and a need for these facilities.
Data Collection and Entry Services
If there’s one thing you can count on during an enrollment period, it’s that they come with lots of data. From collecting data to entering it into your system, outsourcing BPO service partners can take over this task and free up your staff to focus on other things, such as working directly with policyholders. Many have found that data collection and entry is one of the least risky areas to outsource.
Medical Claims Processing
During enrollment periods, it’s easy for medical claims to back up. Medical claims are undoubtedly essential during any time of the year, but it’s important not to let them pile up during enrollment periods. By outsourcing this work area, you can build up your team and ensure they have enough resources.
It’s essential to have the right systems in place to handle the influx associated with enrollment periods. If you’re not confident in your current IT standing, then outsourcing could be the best option.
If you want your staff to be able to focus on working with new policyholders and guiding them through the enrollment process, then finances may be an area to outsource. When you find the right outsourcing partner, they’ll not only provide you with current support but can provide recommendations for future decisions.
From billing disputes and corrections to understanding various therapeutic options, the right BPO provider will have certified medical billers and coders.