The healthcare industry is experiencing numerous new trends that have changed the working conditions of medical billing companies and providers. There have been unprecedented advancements in technology, such as the development of medical billing software, Computer-assisted coding (CAC), EHR Alignment, incorporation of Artificial Intelligence, and more. Therefore, maintaining an accurate medical billing system and staying on top of new trends have proved to be complex tasks. Healthcare organizations are also directly impacted in their critical activities by such changes.
Medical billing companies and individual practitioners in the US have been outsourcing most of their billing operations to India for quite some time now. For most of them, this has proved to be a healthy option that helps them stay on top of their game in this competitive industry.
Here are few reasons why should you choose to outsource your Medical Billing Services in India:
1.Professionals with High Skillsets
Outsourcing your billing services to India ensure that one’s businesses are done by highly skilled and educated people who are highly proficient in English & well versed with the healthcare standards & policies followed in the United States. It leads to swift and easy escalation in resolving issues and thus increases productivity. There are minimum language barriers when it comes to effective communication with Indians. US billing companies can easily communicate their requirements and get the needed output.
2.Utilizing cutting-edge technologies
US medical billing companies worry about investing in new technology and software systems because they’re too expensive. In addition, proper training is needed for staff to use the new systems, which adds to the costs. Clients don’t have to worry about either of these expenditures when outsourcing to medical billing companies in India and instead save a great deal of money.
3.Achieving more work at less cost
Outsourcing your services, including medical coding, revenue cycle management, medical transcription, and claims adjudication. It can be pretty economical for one’s healthcare expenses. Indian companies can only minimize the costs and save expenditure involved in hiring human resources, healthcare infrastructure, and time. It has been noticed that if the same thing is outsourced to India, the cost will come down by 50% easily, thus earning more profits.
4.India is located in a favorable time zone
The geographical proximity between the US and India tends to make the workflow more efficient. Nearly all the billing tasks can be completed and updated in India by offshore healthcare billing companies. Deliverables reach out to the external companies at a faster TAT (Turnaround Time) because the time zone of India is 12-14 hours ahead of the USA. The healthcare providers in the US often see completed work as the first thing in the morning, which allows for quicker reimbursements.
5.Government Stability
It is always advisable to do business with a stable and growing government. Alternatively, if you do business in a volatile market, it is more likely to lead to a business failure. India has always had a stable government and a growing economy. The government also urges companies to secure international projects that will lead to an increase in employment.
6.Adherence to Compliance Policies
The healthcare industry in the US proliferates that many new compliance procedures and standards are being put in place. The need to stay updated with these changes is essential. This is a trend recognized by medical billing companies in India, and they constantly update themselves. To ensure high data security, highly reputable companies hold global ISO 27001 and 9001 certifications, and they are HIPAA certified.
Conclusion:
One can enjoy streamlined workflows, increased revenue, and better earning potential for one’s practice by employing expert offshore medical billing outsourcing companies to renowned medical billing companies such as Info Hub Consultancy Services (ICS).
Info Hub Consultancy Services is regarded as one of the most trusted providers of highly qualified medical billing professionals in India. Healthcare organizations, physicians, medical institutions, and groups can rely on us at ICS to provide medical billing solutions. By utilizing our revenue management cycle, we can reduce operational expenses and increase the overall revenue.
