Medical billing has been a challenging task invariably. The billing and coding staffs are the invisible engines who work towards running the business smooth and ensuring proper reimbursement for the services rendered. Therefore it is essential to have a skilled manpower to handle medical coding process efficiently. As medical industry is currently going through constant changes and challenges due to this pandemic, to keep up with the pace, many billing companies have already outsourced their medical billing and Coding process to an offshore based healthcare billing company. The challenges involved and the lack of skilled manpower and most importantly cost effective services are some of the reasons why India has been all time favorite to Outsource Medical Billing. Let us look into few highlights on why outsourcing to India is an increasing trend during this pandemic!
While social distancing is the new norm and many people are working from home, having an onsite billing and coding team has become difficult for many billing companies. Most of the billing companies are concerned about their staff’s safety, however it is further more difficult to provide the work from home staff with all required necessities like, high speed network connection, access to billing or coding software, and have a team to monitor the work done. Outsourcing your medical billing to an offshore healthcare billing company is a comprehensive solution during this pandemic as they act just like an offshore location handling your day to day billing work effectively.
New medical codes introduced
With novel corona virus attack and telemedicine in effect, there has been many changes in the medical coding; new codes are being introduced regularly for the treatment of Covid 19 and tele – medical procedures. Even proficient coders are at bay with the dynamic challenges and are prone to cause coding errors. An offshore coding team are regularly trained and updated with recent changes and has the adequate skillsets to handle billing and coding process productively.
The rules and regulations of the healthcare industry have been ceaselessly revised. Frequent alteration to the medical billing rules and policies can cause even a dab hand susceptible to err. Failure to stay up to date with the billing rules and regulations can increase claims denials and decrease revenue flow. This current situation has increased the vulnerability through significant changes making it difficult for medical coding companies to cope up. Nevertheless, finding an offshore medical billing company to handle your billing process will help you stay atop and stress free.
Reduced labor cost and time saving
Low labor cost is one of the major cause for outsourcing your medical billing process to India. Outsourcing you medical coding to India will benefit you while quality work at a competitive cost. Research show that offshore outsourcing reduces majority of the operational costs like infrastructure, utilities, location rental, power, support, training, administrative cost etc. which translates as a major cost saving for your company. Offshore outsourcing has become a trend and one of the most efficient business models.
Offshore vendors are stepping up the ladder by introducing a range of additional services with greater skill sets and utmost efficiency. Human resources from India are known for their dedication, hard and smart work. As billing companies in India are offering a more streamlined and improvised services, many billing companies from US have started outsourcing their medical billing process to India to provide quality service to end clients at a competitive pricing in market!