With the implementation of EMR being a step that the healthcare industry cannot shirk from, healthcare providers are turning to EMR outsourcing. So, with respect to medical billing and other healthcare back office processes, they would be meeting the requirements of healthcare reform. That too, without expending too much, making it a smart decision for 2011.
According to the CEO of a global knowledge process outsourcing service provider, “The amount of money being paid for medical procedures in the US is escalating. Hospitals are looking for ways to do it more efficiently.” Outsourcing is an obvious solution. Taking the example of medical coding, EMR outsourcing enables automated coding or coding assistance.
Yet another fact turns matters in favor of outsourcing. A recent benchmark study revealed that the healthcare industry expends approximately $6 billion each year because of data infringements of patient information. Healthcare organizations find it difficult to protect patient data, largely due to insufficient resources, and inadequate procedures and policies. Outsourcing medical billing and coding processes to HIPAA compliant service providers can aid the healthcare organizations. It can’t be denied that there are concerns of data security and the legal implications of transferring sensitive information offshore. This is a valid concern in the current era but nevertheless surpassable if a right choice of outsourcing provider is made.
India could be one of the countries getting a good slice of outsourcing in this sector. At present, India meets about 35-40% of the requirements of the BPO market. All that is left to be said is that EMR outsourcing is definitely a smart decision for 2011. To who or how much a chunk would be outsourced can only be seen in the months to come.