5 Benefits of Working With an Onshore RCM Outsourcing Partner
As organizations continue to face unprecedented healthcare staffing shortages, leaders increasingly look to revenue cycle management outsourcing for relief. In fact, healthcare leaders say outsourcing is their top strategy to combat these challenges. Why outsource revenue cycle management? If you don’t have enough staff, you can’t submit accurate and timely claims, and as many chief financial officers say, ‘No money, no mission.’ Without cashflow, it becomes difficult to provide high-quality patient care. It’s a harsh reality, but it’s true.
The value of revenue cycle management outsourcing is undeniable. However, when looking for an outsource revenue cycle management partner, you need to understand the difference between offshore and onsite talent. Some revenue cycle management outsourcing companies employ individuals located anywhere in the world except the United States. In contrast, onshore RCM outsourcing companies employ only U.S.-based individuals.
While it may be tempting to pursue the lesser expensive option (i.e., offshore), there are many benefits of onshore outsourcing services that far outweigh any real or perceived financial savings associated with an offshore vendor. Here are five of them.
1. Ability to connect with patients. Onshore RCM outsourcing means employees live and work in the same country and oftentimes in the same communities as the patients they serve. This means employees have an appreciation for the challenges and frustrations patients experience when they don’t understand their medical bill or can’t afford to pay it. The ability to empathize with patients is truly immeasurable and can greatly enhance patient engagement and overall patient satisfaction. Patients increasingly look for and expect a high level of customer service, and onshore RCM outsourcing provides this.
2. Smooth onboarding process. With onshore outsourcing services, you avoid extra steps like having to complete offshore attestation forms for certain payers, provide cultural competency training, and explain the ins and outs of the U.S. healthcare system. With onshore RCM outsourcing, employees easily understand your organization’s strategic goals and objectives and can often begin working immediately. This expedites the onboarding process and helps your organization maintain operational continuity.
Another advantage of onshore outsourcing services is that there are fewer security and infrastructure concerns. For example, you don’t need to worry about international cybersecurity and data protection rules that differ from U.S. laws and regulations. You also don’t need to navigate international regulations and determine legal and regulatory compliance for offshore data processing or storage. With onshore RCM outsourcing, you’re more likely to find companies that already comply with the Patient Card Industry Security Standards Council (PCI SSC) for any payment data, Systems and Organization Controls 2 (SOC-2) for general data security and privacy, and HIPAA for many types of healthcare-related data.
3. Deep expertise. With onshore RCM outsourcing, employees have formal training in medical billing, claim denial management, and patient collections. They also have the lived experience of being a patient in the U.S. healthcare system, arming them with the ability to identify potential solutions and best practices more easily. All of this translates to a higher quality service and higher quality end product.
4. Same or similar time zones. From a practical standpoint, onshore staff are easy to reach, and their work hours align with those of your organization. This means you get the coverage you need when you need it. Work schedule alignment also makes it easier for onshore staff to attend revenue cycle management meetings and participate in other functions, thereby helping you form a cohesive revenue cycle management team centered on collaboration and communication.
5. No cultural or language differences. One major advantage of onshore RCM outsourcing is streamlined communication. You and your onshore RCM outsourcing vendor can easily and efficiently work together to solve problems. For example, is there a new trend of denials? What about prior authorization or self-pay collection challenges? Eliminating cultural and language barriers with onshore outsourcing services makes it easier to drill down into root causes and implement solutions.
With onshore RCM outsourcing, there are also fewer miscommunications between onshore employees and patients. Employees address patients’ billing-related questions and concerns swiftly. This is particularly important as organizations have become more transparent with their prices. It’s about building rapport and making patients feel comfortable and cared for—while simultaneously giving them the information they need in a way they can understand.
Onshore RCM staff can also handle complex payer communications more effectively, helping your organization appeal denials, obtain prior authorizations, and build solid relationships with payer representatives.
Looking ahead
Why outsource revenue cycle management? Because revenue cycle management outsourcing makes operational and financial sense. And as you consider your options, be sure to understand the difference between offshore and onsite—particularly the benefits of working with an onshore RCM outsourcing partner. Learn how InlandRCM can help.