In this post, Elite Offshore Resources CEO, Kunal Jain discusses why The COVID-19 crisis makes an immediate business case for U.S. based medical billing companies to outsource their operations to India.
The Coronavirus Pandemic Has Hit U.S. Physician Practices
The world is battling with the coronavirus pandemic, and the crisis has changed our lives as we know it. Scores of small and medium-sized U.S. physician practices are finding it extremely challenging to stay afloat. Owners of physician practices have reported that revenues have dropped by 50 to 70 percent in a matter of weeks. That’s making it difficult to maintain standard staffing at a time when there is dire need to have as many peopleon call as possible.
Many U.S. physician practices are trying to adapt quickly to telehealth services, but that is a transition that will take time for a number of reasons. The U.S. Government has made massive changes to HIPAA in a bid to promote telehealth and reduce the encumbrances associated with claiming telehealth billing. While that is a welcome change, in a scenario where people are being urged to stay at home and avoid visits even for medical care, billing volumes of physician practices continue to nosedive.
Consequently, medical billing companies that handle the backend claim processing for U.S. physician practices have taken a big hit on revenues. The challenges are the same as their clients – lower billings and drop in revenue is making it difficult for U.S. based medical billing companies to even meet overhead costs and meet staff payments.
The Time is Ripe Outsource Medical Billing to India
As they say, the show must go on. To quote, former mayor of Chicago and a White House Chief of Staff, Rahm Emanuel, “Never let a good crisis go to waste.” Therefore, as frightening as the crisis is, medical coding companies in the U.S. must adapt their modus operandi to the reality of a country that is in lockdown. In the present scenario, and with things remaining uncertain in the months ahead, the opportunity that presents itself is – offshore medical billing.
India has been a favored destination for offshore medical billing for U.S. healthcare companies. Here are top five reasons for U.S. medical billing companies to migrate their business processes to India –
Elite Offshore Resources – Save Costs without Compromising Quality of Service
With the COVID-19 crisis pegged to get worse before it gets better, swiftness of action is paramount to safeguard yourmedical billing business. Clearly, for many medical billing companies in the U.S., outsourcing processes to India makes financial and business sense. But when you choose an offshore medical billing partner in India, you must choose a vendor who has the necessary experience to take on the work quickly, accurately, and with necessary security systems in place.
Elite Offshore Resources, located in the Indian state of Rajasthan, is a fifteen-year-old back-office outsourcing organization. We specialize in handling medical billing operations and other back-office processes for U.S. healthcare management companies and management service organizations (MSO’s).
We offer the following comprehensive revenue cycle management solutions –
We have expertise in all major specialties including orthopedics, urology, pain relief management, general physicians, diagnostics and interventional cardiology, gastroenterology, reconstructive and aesthetic surgery, neurology, neurosurgery, physical therapy, endocrinology, primary care physicians, podiatry, internal medicine, psychiatry, radiology, and pulmonology.
We have representatives in the U.S. to answer any queries you have to make the transition. Let us work together to help U.S. physician practices so that they can focus on what they do best, which is focusing on the health of their patients.