The revenue cycle management (RCM) industry is competitive and growing as hospital roll ups increase and insurers pay less. RCM companies are pushed to do more for their clients while facing downward pressure on the prices they can charge. Given this dilemma many RCM companies look to offshore outsourcing companies to help keep costs down, but which companies are true partners, and which will create more work for your team?
Here are three things to look for in an outsourcing company to ensure you have found the right partner.
- Communication
Communication is incredibly important within any team and your outsourcing partner should be no different. Owners and executives often face push back from their local employees who don’t like the concept of outsourcing, but with proper communication, you can have a positive relationship. Rather than communicating strictly with top leadership, a good outsourcing partner will work directly with middle managers and staff members to ensure that everyone is included in the process. This allows local teams to be more connected and supported by their offshore counterparts. - Transparency
How do you know how much work your outsourcing partner is getting through, or who is working on your account? Many companies will switch out employees without telling their RCM partner which can cause inconsistencies in the quality of work. A good partner will be clear about who is working on your accounts and let you know when there will be a change to the team. They will provide details when requested and be responsive to your needs as a billing company. - Quality
While communication and transparency are extremely important features in a company, quality is the basis of a good partnership. It is important to research which countries and cities have the best medical billers, and provide the best education to their employees. Ask questions about the training and experience of the people working on your accounts. A good partner will have no problem answering your questions to ensure that you are comfortable.
Finding a good outsourcing partner can take some work, but the payoff is more than worth the effort. It is an effective way to take pressure off your local team and off your wallet. A good outsourcing company can help you grow and scale your company helping you achieve your goals.