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    If you operate a medical practice, you should be outsourcing

    As if giving your key employees menial tasks isn’t enough to consider outsourcing, the ever-changing landscape of the medical industry should be the deciding factor.

     

    Further reading: Top 10 strategies to enrich physicians' lives

     

    According to a 2016 Deloitte Survey, 59% of respondents outsource to cut costs, and 57% outsource to focus on core business. (This is where removing menial tasks from your employees’ agendas comes in.) Further, more than 50% of respondents noted that outsourced services added value in business case development, strategic assessment, contracting and more.

    Still not convinced? Almost 80% of survey participants felt positive about their respective outsourcing relationships. The proof is in the pudding. So when it comes to outsourcing for your medical practice—whether for IT management, billing processes, etc.—the benefits are obvious. It not only frees up your employees’ time to work on the tasks they were hired for, but it also unkinks your cash flow.

    Remove the Menial: Outsource It Instead

    Are your team members tackling responsibilities that benefit your medical practice the most, or are they multitasking to take care of diversions that don’t pertain to their primary skill sets? Many medical offices regularly struggle with this problem.

    My office manager was consistently torn between providing high-quality care and attention to clients and fellow employees and her commitment to growing our online presence. Because she had to devote several hours a week to this “menial” task, her true skill set was put on the back burner. The business suffered because her talents were wasted on projects that could be completed more efficiently by someone else. After learning my lesson, I decided to outsource: I hired a social media marketing assistant to handle our online needs, freeing the office manager to focus on and excel in her “real” job.

    Essentially, an outsourcing company can be more efficient in completing jobs while freeing up other employees to shine in the assignments they were hired to complete. It’s a win-win.

    Spend Money to Save Money

    Outsourcing can also save you money in the long run and serve as a springboard to boost not only your profit margins but also client and employee satisfaction. Further, outsourcing can reduce in-house stress because managers or other highly skilled employees will become more proficient at their intended work. When everyone is working more efficiently, your company can, once again, save money—and accomplish more in a shorter time.

     

    Opinion: Physician-designed EHRs work better for doctors

     

    According to research by Keystone Health Services, outsourcing can potentially save your practice thousands of dollars in yearly benefits and salaries. You can also save in software purchases, maintenance, and upgrades. Lastly, outsourcing your billing processes improves your overall cash flow, according to Keystone’s report: “Your practice will see a significant drop in charges and the time it takes to process claims as the outsourcing experts capture and accurately report the information. The result is a steady flow of claims going in and cash coming out.”

    Next: What should you outsource?

    Ben Walker
    Ben Walker is CEO of Transcription Outsourcing, which provides transcription services to organizations all over the U.S. It specializes ...

    2 Comments

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    • Anonymous
      Hi Ben. This is a great article specially for a business beginner like me. Can I post this article to my website blog page? Thanks in advance.
    • cgmdrx@------.com
      The balance between spending more money to outsource and the repeated advice to cut expenses seems a bit confusing. Can you imagine the situation in a physician's mind when he or she is told repeatedly to cut overhead expenses and then being told to spend more outsourcing work? To my mind the outsourcing's purpose is to permit the physician more time to see more patients for increased income--work harder and increase debt. Add to that.... burnout, frustration, continuous stress, and usual income dropping creates casualties on its own. If the real purpose of almost all the advice I hear and read being told to physicians is to take the load off them, it solves no financial problems for physicians. It would be far better if physicians would use their extra time going to Amazon.com--choosing books--selecting author, Dan S. Kennedy--and read 30 or 40 of his series of books on business and marketing. That would do profoundly more for the financial benefit of any physician today---except for Prayer. Government won't solve physician's financial problems. Medical education will not solve their financial problems. The single permanent solution is to provide every medical student with a formal business education. Of course the hierarchy in medicine continues to be totally ignorant about the need for private practice doctors to have business knowledge. I suspect the reason for that is that those medical academics have never had an academic business education themselves... so why would they even consider providing a business education when they don't know what they don't know. It's a tragedy that is destroying the medical profession from within and no one can see that.

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