Month: August 2021

10 Red Flags to Avoid When Looking for an Outsourcing Provider

Finding the right outsource service provider is trial and error, but knowing the red flags can help you avoid making the wrong choice. Here are some of your warning signs.

3 weeks ago No Comments Views

5 Bottlenecks to Building a Sustainable Healthcare Business

Building a sustainable healthcare business in the digital age is not easy. Here are 5 bottlenecks to expect and how outsourcing can help you overcome each one.

3 weeks ago No Comments Views

RCM Metrics to Track for Improving Business Sustainability

This guide will discuss important RCM metrics that your healthcare business should track. Scale your business with our revenue cycle management services.

4 weeks ago No Comments Views

How to Maintain a Sustainable Partnership with Your Outsourcing Provider

Shifting to a sustainable business model requires all hands to be on board—even third-parties like outsourcing providers.

4 weeks ago No Comments Views

3 Reasons Why A HIPAA Compliant Outsourcing Partner Matters?

Maintaining the privacy of the patients’ data in the healthcare environment is challenging. Developing and administering security programs that are acceptable and practical using electronically protected health information (ePHI) requires extensive working experience.

These regulations are mainly defined in HIPAA compliance.

HIPAA stands for the Health Insurance Portability & Accountability Act. This is a federal law from 1996 meant to set standards for the protection of patient health data, ensuring that this information is never shared without their express knowledge.

Did you know that the average cost for a data breach was $3.8 million? That is why working with a billing or coding outsourcing partner that isn’t data compliant can be detrimental to your business in the long run. The same IBM report also divulges that healthcare is the most expensive industry when it comes to data breach costs, averaging out at about $7.13 million.’

This is why it is crucial to have an actionable security plan with clear direction, strong leadership, and a focus on data security.

And if you outsource any of the data functions to a third party, make sure that they have a robust understanding of HIPAA, efficient privacy function, and a risk-based, multifaceted approach to security.

Why HIPAA Compliance Matters?

Developing Internal Proficiency Is Challenging

Leveraging company resources to create and implement a high-quality HIPAA compliant team can be challenging, costly, and time-consuming. 

Enterprises new to the healthcare sector don’t always have the expertise needed to create and implement a HIPAA compliance program. This poses a threat to the security and safety of their patient’s confidential information.

From a healthcare standpoint, a HIPAA-compliant provider can better implement authentications and verifications to check an individual’s integrity and accessibility.

The regulations and control in the healthcare sector make it imperative to leverage multiple tools to achieve HIPAA compliance.

However, with a HIPAA-compliant outsourcing solution partner, their expert assistance and guidance can help you with the powerful tools without you having to spend money, time, and efforts to maintain standards and privacy.

Healthcare Security And Privacy

A HIPAA-compliant outsourcing partner can provide advanced, audited, and tested technology to help you maintain and follow the required compliance standards and effectively protect your patients’ sensitive data. 

Outsourcing a HIPAA-compliant partner also takes advantage of the enhanced security levels. Some of these benefits include environmental controls, physical security, video surveillance, logged access, and various alarm systems to identify unauthorized access.

The HIPAA compliance procedure in healthcare involves both ongoing work and one-off projects. This requires most companies to spend a considerable amount of time and money to ensure accurate compliance management.

A HIPAA compliant outsourcing partner is paramount to help you accurately assess, test, correct, upgrade and modify internal controls, which can be otherwise a genuinely daunting and time-consuming process, especially when done by in-house teams.

Without a HIPAA-compliant outsourcing service provider, you will have to train your employees to have adequate knowledge in regulatory compliance to ensure data security and privacy.

A compliant outsourcing partner will routinely provide internal controls testing and deliver transparent and concise reports to the management. They will also structure and execute an efficient workflow process for HIPAA auditors.

Business Continuity And Growth

Finally, when you partner with a third-party expert that is HIPAA compliant, they can help you with business continuity and growth by offloading the burden and distraction of creating, managing, and maintaining HIPAA compliance on your own. This also enables you to ensure that your patients’ information is safe and protected.

In response to increasing customer pressure and regulations to protect patient data, companies are outsourcing their HIPAA compliance to third-party security firms in healthcare privacy. This helps deliver high-quality results, efficiency, and continuous data protection, letting you focus on your strategic growth initiatives.

Working with a HIPAA-compliant outsourcing partner enables business continuity by redirecting your resources to creating and operating operations successfully. At the same time, the provider focuses on securing and safeguarding your patients’ information.

Your outsourcing service provider connects with your business associates on different functions in the best partnerships, ranging from addressing customer security questionnaires to developing a long-term and sustainable security roadmap that aligns with the company objectives and overall plan.

The result of this strategic partnership is that you can build a vital security infrastructure to protect the sensitive information and data of patients from unauthorized users.

Healthcare organizations breathe and live compliance and security. So outsourcing a HIPAA-compliant provider for your patient communications elevates all the compliance best practices.

In the realm of data protection and compliance, your company’s print, mails, medical billing, etc., need a Compliance and Security Officer tending to related functions. You can also outsource medical billing, medical coding, and more to ensure secure processes.

Collaborate With A HIPAA Compliant Outsourcing Partner

With the acceleration in digital transformation, specifically in healthcare, it is essential to efficiently manage massive amounts of protected health information. This is where healthcare outsourcing comes in.

Overseeing these regulations in-house can be a challenge for many firms. Outsourcing cybersecurity programs and HIPAA compliance to a privacy expert can help you effectively augment your patients’ data security.

This, in turn, allows you to reduce costs, meet customer demands, protect patients’ data and most importantly, emphasize internal resources on valuable business aspects– serving customers and growing businesses.

As a healthcare provider, it is paramount to mature your cybersecurity programs and HIPAA compliance by outsourcing your functions to a responsible and credible partner.

PRO TIP: High Net Promoter Score

Net promoter score helps businesses gauge the quality of the customer service offered by outsourcing companies. Organisations can use NPS to assess which outsourcing service is best to partner with because this score shows loyalty trends and growth revenue outputs.

In a way, NPS represents the primary way customers survey their experience because it means that their clients are happy which results in customer loyalty and retention, making this a critical trait a BPO company should have. When used correctly, NPS (of at least 60%) can tell you how well the BPO is performing, how often they resolve issues, and if their clients are satisfied with their experience.

All these qualities and more can be found with the right outsourcing partner who can provide a customized, high quality healthcare business solutions that can promise for the following:

  • Operational excellence
  • Build a great healthcare & RCM team specifically designed for your unique needs
  • Operational cost savings of up to 70%
  • Information and data security
  • Sense of security and peace of mind

Partnership with Infinit-O

Infinit-O’s mission is to create endless opportunities for your company to realize its full potential.

Infinit-O Key Benefits:

We can build you a great, high-performance Revenue Cycle Management team composed of:

Patient Support Services

  • Patient Concierge Specialist
  •  Insurance Verification Specialist
  • Collections Specialist
  • A/R Specialist

Provider Management Services

  • Medical Coders
  • Medical Billers
  • Claims Processors
  • Enrollment Processors
  • Denial Management Specialist

Health Analytics and Risk Management Services

  • Healthcare Analyst

Others

Start small. Exceed expectations. Think infinitely. Think Infinit-O.

1 month ago No Comments Views

Why Is Social Media Research Important in This New Normal?

There is about a 51% increase in social media usage in the US since the start of the pandemic because most are staying at home. These changes in digital behaviour makes social media a powerful tool for businesses to know how to attract their consumers. In fact, 90% of companies used social media to reach their customers. 

But the only way to make sense of these numbers and the online behaviour is to conduct social media research.

Now is the best time to outsource your own team of Social Media Researchers. Here’s why:

But what exactly is social media research?

It is the process of analyzing social media data through quantitative and qualitative research methods to understand the behaviour of customers. A team of researchers use social listening and audience intelligence tools to aggregate data from different social media platforms. 

But as usage grows in size and importance, the research for this is also constantly evolving. That’s why having a team of social media researchers is important for your business. We also listed their top 3 major contributions:

  1. Provide Data to Create Effective Marketing Strategies

Note that the data researchers can get from social media are unprompted feelings. In traditional research, these can only be collected through surveys or focus groups. And to truly understand the vulnerability of your consumers and gain insights is through experts such as a team of social media researchers.

They can objectively assess opportunities  to increase reach and engagement for your business. By continuously measuring behaviours, you can quantify your campaign performance and gain return of investment (ROI).

  1. Give You the Latest and Most Current Trend in the Industry

Social media monitoring can give you the most current and most accurate desire and need of your target audience. People making reviews, tweeting about an experience or wants, and even sharing posts that attract them can mean data.

You can also get this information fast as opposed to weeks or months for conventional research methods. This also means it’s a more affordable option than traditional research methods. 

As your team of social media researchers gather the pulse of your customers, you can build campaigns that will resonate to them most effectively. Remember that effective campaigns are built from human truths.

  1. Help You Improve Customer Service

Most customer service has shifted to public domains such as social media. People wanted to have their questions and concerns answered and responded swiftly. Therefore,  understanding how people view your brand online can give you a leverage on how to anticipate an interaction with them and get ideas on ways to enhance customer experience with your company.

It is important to note that brand management is crisis management. Your team of social media researchers will identify how your brand is viewed by consumers which in return can help you create strategies on how to improve customer experience and the specific ways they want to be heard by your company.

How can you build your own social media research team?

As companies recognize that generic analysis won’t solve distinctive business problems specific to the industry, the rise of social media researchers have come into play. But since this is a new team to form most businesses are not sure where and how to hire these experts. Good thing there are trusted outsourcing partners you can rely on. They can:

  • Help reduce in-house cost

Partnering with a BPO provider can help you save money, especially if you take into account the expensive ancillary costs of on-boarding in-house staff, such as recruiting and training expenses, employment taxes, and overhead cost compared to bringing in a dedicated solutions team of expert advisors.

Outsourcing can cut down these costs according to your budget efficiency and quality because they  are already experts in that trade.

  • Access to the right talent

The right partner can build you a dedicated team of social media researchers because they have access to world-class R&D talents. Their A+ recruitment team and process allows them to hire the best people that will fit your company’s goals and needs. 

In addition, they can build you these teams within 30-45 days.

  • Outsourcing will allow you to focus on your business operations

Simply put, outsourcing will allow you to hit two birds with one stone: while your social media engagement is being ramped up, your core business team can focus on keeping business operations in check and possibly even adjusting those operations based on the changing needs of your clients based on the feedback you get from social media.

You can focus on achieving business goals while they take care of your customers and clients through social media engagement.

All these qualities and more can be found with the right outsourcing partner who can provide a customized, high quality social media management into your business solutions and promise the following:

  • Operational excellence
  • Build a great social media team specifically designed for your unique CX support needs
  • Operational cost savings of up to 70%
  • 90% customer satisfaction
  • Increase customer and brand loyalty
  • ISO 27001 and 9001 certified and GDPR, HIPAA, and DPA2012-compliance
  • Net Promoter Score: Sense of security and peace of mind

Partnership with Infinit-O

Infinit-O’s mission is to create endless opportunities for your company to realize its full potential.

Infinit-O Key Benefits:

We can build you a great, high-performing R&D team:Research Analyst

  • Account Research Specialist
  • Business Analyst
  • Database Maintenance Specialist
  • Product Ops Developer
  • Cybersecurity Specialist
  • Systems Integration Developer
  • Threat Intelligence Analyst
  • Threat Landscape Analyst
  • Systems Administrator
  • Other R&D Experts

Let’s work together to build a great Research and Data Team.

Start small. Exceed expectations. Think infinitely. Think Infinit-O.

1 month ago No Comments Views

Top 3 Significant Contributions of Data and Business Analysts in Your Striving Business

In this new digital economy wherein businesses are more competitively strategic, data analytics is now becoming part of the myriad of services that companies are opting to outsource. A study conducted by Global Data Analytics Outsourcing Market Report by Credence Research, Inc., the Compounded Annual Growth Rate (CAGR) of data analytics outsourcing is at 21.84% during the forecast period from 2019-2027. This makes the market value for data analytics outsourcing to increase from $2.73B (2018) to $25.56B (2027).

This increase in CAGR shows the demand for data analyst teams. This underlines the fact that most companies, especially small and medium businesses (SMBs) should integrate this to their organization to adapt to this data-driven economy.

  1. Effectively leverage on data for profitable decision making

Because data is becoming the most valuable asset in business, having a team who can analyze these and convert them into usable information helps decision makers leverage on data to create effective strategies and business solutions.

A good example for this is the so-called ‘Amazonification’ wherein Amazon (and FedEx) used big data and a team of data analytics to build algorithms based around their customers’ daily needs. They used this information to create strategies on how to effectively target their customers with relevant products which multiplied the chances of a ‘buy’. 

  1. Have a more customer centric approach

Similar to the example above, Amazon not only leveraged on the data to create marketing strategies, but it also helped them be more customer centric. A team of data analytics helped the company reach out to customers in a scientific way.

Data analytics is essential in B2C companies to have a more customer centric approach. This allows businesses, especially SMBs to learn more about their customers and anticipate their needs.

In addition, they help in segmentation, targeting and positioning (STP) to effectively reach the right customers with the right message at the right time through the right channel.

  1. Attain deep industry knowledge

When big data is converted to usable information, businesses will have better market insights, route optimization, fleet management and business foresights. This will help you gain more knowledge in your industry through the help of a team of data analysts.

Their domain expertise in analyzing data can give you competitive advantage by having a grasp on unique industry requirements of your business. Having enough knowledge in the industry allows you to conceptualize a predictive model where you can integrate in business applications for production to put in use.

But who can build a team of data analysts better? A third party outsourcing or you?

The great benefits of outsourcing to a 3rd party today is accountability and return on investment (RoI). The right partner creates a “value-driven engagement”. This engagement translates results as mentioned above. Other benefits include;

  1. Access to large pool of Research & Data talent

Because of the demand for data analyst experts, various companies are facing a shortage of skilled professionals, especially hiring a team of skilled data analysts, data scientists and machine learning engineers in the local market.

But the right partner has access to world-class talent and their A+ recruitment process will build you great, high-performing data analytics in just 30-45 days.

  1. And this is given – cost savings

Especially for SMBs, cost savings is a must. Note that hiring a full-time data scientist is expensive. A lot of operational cost needs to be considered such as salary and overheads cost (i.e. taxes, employee benefits, etc).

The right partner can offer you up to 70% operational cost savings.

Outsourcing data analytics

When it comes to building your data analytics team, outsourcing is one of the best choices to make due to its numerous benefits. A good outsourcing partner promises for the following:

  • Operational excellence
  • Build a great, high-performing R&D support team specifically designed for your security needs
  • Operational cost savings of up to 70%
  • ISO 27001 and 9001 certified, GDPR, HIPAA and DPA20212-compliant
  • Net Promoter Score: Sense of security and peace of mind

Partnership with Infinit-O

Infinit-O’s mission is to create endless opportunities for your company to realize its full potential.

Infinit-O Key Benefits:

We can build you a great, high-performing R&D team:

  • Data Analyst
  • Research Analyst
  • Account Research Specialist
  • Business Analyst
  • Database Maintenance Specialist
  • Product Ops Developer
  • Cybersecurity Specialist
  • Systems Integration Developer
  • Threat Intelligence Analyst
  • Threat Landscape Analyst
  • Systems Administrator
  • Other R&D Experts

Let’s work together to build a great R&D Team.

Start small. Exceed expectations. Think infinitely. Think Infinit-O.

1 month ago No Comments Views

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