Against the backdrop of ongoing staffing shortages, many healthcare organizations have dabbled in revenue cycle outsourcing to fill the gaps. Although some outsourcing partners employ only U.S.-based medical coders, billing professionals, and call center agents, others have expanded to include highly-qualified individuals internationally—particularly in India and the Philippines.
Are there advantages of a global workforce? Absolutely. Once you get past the myths associated with offshoring, the benefits are clear. Below we cover eight benefits you might not have considered prior.
1.) High-Caliber Staff
International revenue cycle staff are credentialed, and many also hold advanced degrees. Some even have direct clinical (patient care) experience and bring a significant amount of knowledge to the table that can help U.S.-based healthcare organizations ensure compliance and promote revenue integrity.
2.) Large Candidate Pool
Some experts believe the post-pandemic worker shortage may continue for years. However, healthcare organizations can’t afford to wait. They need talented revenue cycle staff today to ensure an uninterrupted cashflow. Leveraging an international workforce helps fill these gaps immediately, often with candidates who possess the precise skills and experience necessary for the job. This circumvents the need for costly, drawn-out recruitment campaigns that may not even yield the desired results.
3.) Fresh Ideas
International workers bring new perspectives that help solve business problems and promote revenue cycle innovation. This is incredibly helpful in healthcare organizations that continue to struggle with antiquated revenue cycle management workflows and processes. International workers help remedy long-standing challenges by contributing unique ideas and operational approaches. When fresh perspectives and solutions infuse a workplace, the entire revenue cycle team, organization, and even patients may benefit.
4.) Master of Remote Work
There’s no better way to improve existing remote work arrangements than managing an international workforce directly, or partnering with an outsource vendor that employs international staffers. Why? You identify best practices and address challenges proactively. This sets the stage for an increasingly borderless workforce, and it positions your healthcare organization as a leader in a growing movement.
5.) Help with Meeting Strategic Goals
A more diverse workforce may help fulfill strategic goals related to diversity, equity, and inclusion. It may also open doors to new markets, partnerships, and revenue opportunities.
6.) Strong Collaboration between Tech & People
Organizations often make tremendous investments in automation yet fail to have the people and procedures in place to monitor their technology. Inevitable hiccups with new or existing software can create more work for your office. Hiring internationally allows you to scale quickly so you will have the support needed to work in tandem with your tech solutions and establish a highly productive revenue cycle.
For many healthcare organizations, hiring abroad can significantly reduce labor and other employment-related costs. During a time when most organizations operate with a very lean budget, the savings from hiring internationally allows healthcare leaders to reinvest in other areas important to company growth.
8.) Organizational Resilience
Organizational resilience refers to a healthcare organization’s ability to anticipate, prepare for, and respond to incremental change as well as sudden and unanticipated disruptions. When organizations have teams located abroad, they’re better able to ensure operational continuity. If there’s a crisis in the United States, only the U.S.-based workforce is affected. The international labor pool can continue to work and keep things flowing smoothly.
There are many advantages of an international workforce. The return on investment is abundant regardless of whether you do it yourself or partner with an outsource vendor that’s already well familiar with hiring overseas personnel, promoting international workforce development, and ensuring privacy and security compliance. The result is the same: A more productive and efficient revenue cycle that promotes financial sustainability. Learn how Global Healthcare Resources can help.
Founded in 1999, Global Healthcare Resource has been a leader in revenue cycle management solutions and proudly employs 6,000+ HIPAA compliant coders, billing professionals and patient call center agents. Global operates as an extension of your office to improve productivity and increase ROI.