Your Hospital can benefit by Outsourcing Revenue Cycle Management

Is the efficiency of your hospital or healthcare clinic suffering because of pending receivables or a badly managed healthcare revenue cycle? If yes, then the best way out of this dilemma is to outsource revenue cycle management to a professional service provider in India.

Outsourcing to a healthcare service provider in India is the best decision you can make, as it can guarantee high quality services and a great Return on Investment (ROI). With the day-to-day handling of your hospital’s revenue cycle management out of your hands, your physicians can finally be free to focus their time and energy on patient care.

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Ask the Right Questions before you Outsource

Your company has been looking for the right outsourcing service provider in India. You have done a lot of homework. You have also reviewed samples and spoken to past/current clients. Now all that’s left to do is to directly talk to the potential service provider. But you are not sure of what exactly to ask.

Here are eight questions that you can ask a vendor to better understand their experience, their processes and your expected results from the outsourcing contract. You can hold an interview over a phone or simply email these questions across:

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5 Most Frequently Outsourced Business Tasks

Earlier on, when the concept of outsourcing was in its nascent stage, businesses thought that only manufacturing work can be outsourced. Today, outsourcing has come a long way, with both small and large businesses outsourcing all kinds of business tasks overseas. Some companies even feel that everything, except for a company’s core skills can be outsourced. The following is a list of 5 frequently outsourced business tasks. Let’s explore these business tasks and understand why it makes sense to offshore them:

1. Customer Support:  Customer support or phone support tops the list as the most outsourced business function. Companies in the US find that hiring, training, providing office space and paying taxes for American call center agents are very expensive, when compared to outsourcing to India. Moreover, Indian call center companies provide efficient 24/7 support at a fraction of the cost.

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Maintain Precise Ledgers by Outsourcing General Ledger Services

If you do not have an accurate summary of all your recent transactions, you will soon find that you cannot make informative business decisions about your company’s future. Without an up-to-date and precise general ledger, you will be unable to prepare income statements, trial balances or balance sheets. The efficient maintenance of a general ledger requires plenty of time, effort and expert accountants. If your business is short on time or resources, you can opt for outsourcing and leverage the benefits of a ledger that is clear, consistent and systematic.

10 benefits of outsourcing general ledger services

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7 Reasons why it Pays to Outsource your Payroll

There’s more to payroll processing than just writing checks and handling them to employees.  For efficient payroll processing to happen, you need to keep your records accurate, calculate and pay your payroll taxes and also effectively communicate with your employees.  As the owner of a small or medium sized business, such responsibilities might rob you of precious time and effort, which can otherwise be spent on core business activities. However, with outsourcing, payroll processing can be greatly simplified and managed efficiently.  Here are 7 benefits that you can leverage by outsourcing payroll services:

1. Get more free time

Payroll processing is a time-consuming and tedious process that requires plenty of time and effort, to be done accurately. With payroll processing out of your hands, your staff can freely pursue more important revue-generating and value-added business activities like selling or marketing. In fact, the popular Inc magazine has identified payroll processing as the number one task for a small business to outsource, in order to save on time and cost.

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