Without healthcare process outsourcing, organisations and businesses must shoulder a significant burden. If there is no external assistance, in-house teams need to handle all processes themselves, including both core and non-core operations. To put it simply, it’s almost impossible to achieve the efficiency healthcare teams need if they are handling everything in-house.
This is why healthcare BPO, and outsourcing to the Philippines in particular, has such a big role to play in the evolution of the medical industry. Let’s explore this in more detail, looking at the future growth of the market, as well as the applications and benefits of outsourcing.
The Growth Prospects
BPO is a major talking point in today’s international healthcare industry, as increasing numbers of businesses tune into its benefits. As these organisations seek to reduce costs without compromising on the quality of the results, many are turning to outsourced partners, and this is fuelling serious growth.
Healthcare BPO is expected to achieve a compound annual growth rate of 11.75% between now and 2029, demonstrating just how rapidly the industry is charging forward. This is great news for all stakeholders in the market, from the healthcare organisations who achieve increased agility and capability from BPO to the end-users who need the best quality care at the lowest possible cost.
The Specific Applications
What are healthcare organisations looking for when they outsource to locations like the Philippines? While BPO is an effective strategy for businesses across many different industries, healthcare companies may have more specific outcomes in mind.
A recent report highlighted the diverse nature of these desired outcomes. Currently, healthcare BPO is focused on non-core tasks, such as managing insurance claims, interacting with and supporting patients, and optimising the management of revenue cycles. While these tasks are not focused on the direct provision of healthcare – which generally cannot be handled by remote, outsourced teams – they are critical to the ongoing efficacy and efficiency of the industry.
The report also described how more specialist services are helping to support the evolving healthcare industry. This may involve medical animations and illustrations provided by BPO firms, as well as direct pharmaceutical and healthcare research. Interactions and partnerships between healthcare organisations and business process outsourcing providers are becoming increasingly wide-ranging as the advantages of BPO are better understood.
The Long-Term Benefits
In many senses, the benefits of BPO for healthcare organisations are the same as those encountered by businesses in any field. Healthcare organisations can expect to reduce their costs and expenditure while supporting a better customer experience across the board. In addition, these organisations gain access to a skilled set of experts with direct experience in the medical field – something that can be difficult and expensive to source and retain on an in-house basis.
As discussed above, BPO tends to focus on non-core tasks. This means the healthcare organisation’s own in-house teams will handle the actual provision of medical treatment, as well as other core tasks. The benefit of business process optimising is that these in-house teams can focus their efforts completely on these core service areas, without being distracted or encumbered with other tasks along the way.
Other benefits include optimised patient enrolment and treatment scheduling, as well as digital and IT tasks associated with a smoothly run healthcare practice. Meanwhile, data storage and security is enhanced, ensuring that healthcare organisations meet the strict regulatory requirements associated with handling patient data. These wide-ranging benefits are changing the game when it comes to healthcare, and are proving crucial to businesses and organisations in an evolving landscape.
It’s important to remember that healthcare did not begin and end with Covid-19. Organisations operating in this field have always experienced challenges relating to cost and efficiency as they seek to keep pace with modern requirements, and this will always be the case. However, Covid-19 did stretch the global healthcare industry to breaking point, as the development of treatments and vaccines was scaled up and accelerated to unprecedented levels.
This increased intensity showed how important business process outsourcing is in this field. With the assistance of expert outsourced teams in the Philippines and elsewhere, healthcare organisations were able to rise to the significant challenges posed by Covid-19. The growing network of outsourced partners is helping to reinforce global healthcare as we move beyond Covid-19, ensuring that lessons are learned and the industry is well-prepared to meet other challenges in the future.
Discover More About Business Process Outsourcing for Your Healthcare Organisation
Are you in search of BPO services for your healthcare business or medical organisation? enablesGroup can provide the kind of remote capabilities you need to streamline your operations in a changing landscape. Reach out to our team today and discover more about what we can do for you.