Outsourcing financial services to India is an old concept in the US business market. As per recent reports, India has more than 44% of the outsourcing businesses from across the world. The stats also suggest that this dependency has grown in the last few decades. 80% of various companies in the US and Europe trust India as their chosen destination for outsourcing core business processes.
The trend is also valid for the healthcare domains of the USA. India serves as a trustworthy outsourcing destination for medical billing and coding companies these days. Though India has competition from the Philippines and China, India is way ahead of them when it comes to outsourcing medical billing and coding services for the US healthcare sector.
But have you ever wondered what makes India the perfect destination for outsourcing medical billing services? What gives India the edge over other countries?
In this article, we will explore the various reasons why India rules the offshore medical billing and coding market. We will also decipher why it is a great choice for you if you are looking for outsource medical billing and coding services.
Healthcare systems often struggle to keep up with the latest updates and changes in the medical billing systems. In fact, the healthcare domain must invest a lot of time, effort, and money to create and maintain a comprehensive infrastructure with trained staff.
No doubt, the overall cost of such maintenance affects the financial health of most medical facilities. But without such quality services, they are often not able to process error-free claims.
Here comes the key to your troubles. Outsourcing medical billing services to India can give you great benefits in terms of cost-effectiveness. Your outsource medical billing services partner will take care of the revenue generation cycle management and other specialized coding and billing services. The cost you will have to bear in outsourcing your medical billing and coding process is often half of what you must invest for an in-house medical billing system.
No language barrier
Outsourced medical billing companies in India hire the best of professionals who have great competency in the English language. Often the gap in communication between the outsourcing partner and the client creates hurdles in the medical billing process.
But when you outsource medical billing services in India, the proficient English-speaking trained staff will ensure a good partnership and expedite the pace of work smoothly. In fact, the process becomes easier and more streamlined when the goal of the companies is alike.
Moreover, India’s offshore medical billing professionals have the requisite expertise and experience in handling medical billing and coding for more than a decade which gives them the edge over professionals of other countries.
Favorable turnaround time
The turnaround time for the medical billing companies in India is favorable for the US-based companies. The Indian backend operational teams work in dedicated US shifts so that they are always available during the office hours of their US counterparts. Thus, the deliverable reaches the healthcare systems well within the stipulated time, i.e., within 12-14 hours. This helps the healthcare companies in filing their claims well within the deadline without any error.
The leading offshore medical billing and coding companies of India have all the latest and advanced automation technologies in place. In fact, some of these outsourcing medical billing and coding companies also team up with the leaders in the medical software solutions market. And, the high-end technical support boosts the robustness of the medical billing system as an added bonus.
Not only this, they also tap into their homegrown resources. All this helps the US healthcare system in reducing the overall time for processing without compromising efficiency.
The advancement doesn’t end up here. The medical billing companies in India also hold regular staff training programs to keep their staff trained and updated on the latest technology. They also conduct training programs for their in-house counterparts in the US to ensure error-free billing and coding.
Stable Government conditions
In case of unstable government conditions, the working conditions for the outsourcing industry can get affected. Most companies that look for an outsourcing partner wish to have unrestricted service. However, often some countries have unstable government conditions that hinder uninterrupted services.
On the other hand, India has consistent and stable governments with favorable offshore working policies, thereby making it easier and convenient for the US-based companies in sustaining a long-lasting outsourcing partnership.
How to choose a stable outsourcing medical billing and coding company?
- Always search for companies that have years of experience in this domain. That will ensure their expertise and experience in handling different healthcare systems and specializations.
- Always take time to evaluate their compliance certificates. All leading companies maintain the highest standards when it comes to data security.
- Ask them about their staff training programs before outsourcing them. It’s only then you will get the clarity about whether they are updated about the latest developments in policies.
- Also, ask for their client testimonials. Online client reviews are an excellent way to check how they have maintained their demeanor in reality.
- Learn whether they have handled a similar company like yours before. You might be a multispecialty hospital or an independent single-specialty clinic; they should be able to handle your tasks well.
- Try to choose a company such as Info Hub Consultancy Services that has experience in handling different specialties, as that will cover all the bases for you.