If you operate a medical practice, you should be outsourcing
by Ben Walker
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.
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.”