7 Common Pitfalls to Avoid When Implementing RCM
Are you making these common mistakes and pitfalls in implementing your RCM solution?
General Outsourcing
5 Challenges Small and Medium Healthcare Businesses Face
People in the medical industry often face these healthcare challenges. Luckily, we have just the solution to help you get through it, even during a pandemic.
Is Your Healthcare Data Safe When Outsourcing? 7 Things to Check
Are you confident that you have robust security protocols and policies? Here are the things you need to review to ensure data security when outsourcing.
Revenue Cycle Management in Healthcare: Top Trends and Figures
In the coming years, we should see improvements in RCM processes and workflows thanks to technologies like artificial intelligence, automation, and outsourcing.
The Contribution of Industry Experience to Small and Medium Businesses
Oftentimes, there’s no match for industry experience.
Lack of expertise in doing your business is detrimental because viable knowledge creates valuable strategies in ensuring growth. Although industry experience isn’t the be all and end all of a successful business, it is a great foundation in achieving your business goals. Although for small and medium businesses, learning the work around of the industry of their company can be challenging. A study shows that organizations lose 15% of their customer base due to lack of experience in handling their business.
That is why it is crucial to partner with experts that have a good track record in doing business. We listed 4 indisputable reasons on the value of industry experience through outsourcing:
- Industry Efficiency
There is no substitute for experience in outsourcing, so make sure that before choosing a partner, check for a proof of positive track record of industry & domain expertise, number of years they have been offering these services, and client partnership tenure and company reputation & success rates such as Net Promoter Score (NPS).
In line with this, they should also have the right expertise and knowledge when it comes to different types of industries in order to render services effectively. As an example, Medicare claims processing is something that can be difficult to build internally, but is the exact skill that an outsourcing provider specializing in medical billing excels at. This can result in significant increase in collections.
- Provides Range of Services and Talents
Another thing to factor in when choosing who to partner is its range of services it can support whether Healthcare, Finance and Accounting, Research and Data, Customer Service, Information Technology, and Back Office Support. It would be best if you go for a one-stop provider as this will save you from the trouble of working with different companies for different services. At the same time, dealing with one company enhances overall efficiency of your business.
Industry experienced outsourcing companies can also build you a dedicated team of highly-experienced professionals who can deliver quality results. You may want to look for one that houses talents with the skill and experience necessary to adapt the current technology you are using and be able to continuously improve on it. Usually, a great partner has A+ recruitment team and process who has access to world-class talent despite the competitive talent pool yet proving up to 70% operational cost savings.
- Well-Established Information Security
Information security is a must especially if you opt to outsource you services because you will share company data to a third-party provider. An outsourcing company who is an expert in the BPO field is always ISO certified and HIPAA compliant. ISO, also known as International Organization for Standardization, is the certification for any business to deliver a consistent level of quality to its customers by having well-defined and regularly checked processes. HIPAA, on the other hand, stands for Health Insurance Portability and Accountability Act, which develops standards and rules that protect the security and privacy of personal health information.
- Tech Forward
Keeping up with the fast-paced digital world can only be done through the use of top-notch technology. When selecting your outsourcing partner, see to it that they use the necessary software and a well-maintained infrastructure preferably with both back-up power and storage to secure the compiling and storing of patients’ data.
Additionally, you may opt for a provider that is technology-agnostic or one that has the flexibility to adapt to your organization’s current technology and enhance it further. Industry experienced companies can help enhance your current technology. This will ensure that your technology gets innovated in such a way that it solves the bigger picture problems while allowing your business to hit its goals.
Why high Net Promoter Score equates Operational Excellence
When looking for an outsourcing partner, another thing you must remember is to partner with one that has a High Net Promoter Score.
Net Promoter Score (NPS) helps businesses gauge the quality of the customer service offered by outsourcing companies. Organizations 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.
Look for a trusted outsourcing company that can help you build a dedicated team that has:
- Building great, high-performing teams
- Access to talent through their A+ recruitment process
- Cost saving of up to 70%
- Adaptability in technological advancement
- Operational excellence
- Information and data security
- Established Information 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 teams for the following line of business:
How to Leverage on Market Research to Reach Business Success
Business experts recommend routine market analysis because it is the cornerstone of a successful business. It gives you insights on your customer’s needs, demands, preferences, and overall market landscape. And because customer’s behaviours change constantly, understanding your target market can only be done through market research. But major pain point is that conducting market research in the US is very expensive
Fortunately, conducting periodic market research through outsourcing and having your dedicated team yields to the following benefits which will eventually help you reach business success:
- Helps Create Customer-Centric Approach
Your customers are the core of business growth, therefore, understanding their needs is a must. This helps you gain a better perspective on their needs and wants wherein you can adjust your strategies and business models accordingly.
In addition, having an outsourced team has more leverage than in-house market researchers because they gather more impartial results. Unbiased data is crucial because it aims to create a customer-centric approach over favoring the demands of the board members or business owners.
- Helps Conceptualize Informed Decision Making
Knowing your customers is key in making informed decisions because you can base your plans on tangible data. This also helps you save time and money in the decision making process because there are less trials and errors since planning is data-driven. This opens the gates to business success and growth because you can create business strategies and offer new products and services to appease your customers making you a few steps ahead of your competitors.
- Helps Boost Brand Image
Remember that customer’s perception is key to business stability. Their testimony about their experience with your business can make and break your company. Market researchers can help you know this vital information.These insights can give you leverage on creating better market positioning and adapt your image based on customer’s dynamics.
- Helps Providing Data to Analyze customer and Market Trends
A dedicated team of market researchers will not only gather said data but also they can help decision makers in your company analyze customer behaviours and market trends that you can use to create a strategic business plan to not only to get revenue but also to build brand image and eventually good relationship with your customers. These things are formula on achieving your business goals.
In-house vs. Outsourced Market Research Team
In-house Market Researches
| In-house | Benefit |
| Knowledged in products and service | Since most company has its own process, terminologies and system, your in-house staff are well-verse with these internal know-hows |
| Luxury for constant assessment | You can easily schedule a calendar of research projects and have real team assessment of the study results |
| Data security | Non-disclosure agreements are all well and good, but in-house team lessens risk of information leakage unlike when organisations share it with outside parties |
Outsourced Market Researchers
| Outsourced | Benefit |
| Cost savings | On the surface it may seem that in-house teams might be more affordable because you don’t need to pay a third party provider but keep in mind, however, in-house teams are often less efficient than an outside market research company. Meaning, the total cost savings may not be as significant in the end.In addition, an outsourced team can be more affordable (up to 70% cost-savings) especially if your partner has access to an affordable pool of experts. |
| Access to world class talent | The right partner devotes all extra effort to build a great team of experts within 30 days. Their A+ recruitment teams and process have access to world-class talents, making sure that they gather individuals with the right expertise and a knowledge base in market research. |
| Running Business 24X7 | Offshore outsourcing to a country with a different time zone, allows an advantage of 24×7 operations. Outsourcing partners can take over and continue work even after in-house employees go home. They can complete critical tasks and send it back for review the next morning. With their years of experience the outsourced team can easily adapt to your company’s internal processes and integrate strategic research design that best fits your unique needs. |
Great Partner, Great team
Find the right outsourcing partner who has access to world-class market research talents through their A+ recruitment team and process who can ensure building a great, high-performing research team for you. The right partner provides a projected savings of up to 70% on operational costs, yet assuring your team’s efficiency and productivity. Lastly, look for an ISO 27001 and 9001 certified and GDPR-compliant outsourcing company, so your company and client’s data are always safe.
Why high Net Promoter Score equates Operational Excellence
When looking for an outsourcing partner, another thing you must remember is to partner with one that has a High Net Promoter Score.
Net Promoter Score (NPS) helps businesses gauge the quality of the customer service offered by outsourcing companies. Organizations 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.
Gains:
- Building great, high-performing teams
- Access to talent through their A+ recruitment process
- Cost saving of up to 70%
- Adaptability in technological advancement
- Operational excellence
- Information and data security
- Established Information 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.
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.
Vamp Up Your IT Support Team with Outsourcing
In today’s digital world, a valuable asset any company must have is a high-performing IT support team that can ensure all systems, networks, and other technical matters across the organization are running smoothly. Regardless of the industry, there is no better time to invest in a dedicated IT team than now where people are relying more on online services and transactions due to the restrictions brought by the pandemic.
Building an in-house IT support team is an option companies can consider, especially those that are of larger scale. However, for small and medium sized businesses, the cost and tedious process of hiring may be too taxing on resources. For this, outsourcing can serve as a great alternative with plenty of other benefits you can enjoy.
Value for money
Outsourcing your IT support team enables you to save as much as 70% on expenses compared to in-house hiring, but that’s just the tip of the iceberg. The right partner also gives you access to world-class talent, A+ recruitment process, cybersecurity and up-to-date software and other technology that is crucial to meet all your IT needs and maintain your network. In short, it gives you the best value for your money, which is great especially for small and medium businesses that may be running on a limited budget.
Expertise
A good outsourcing company can build you a great IT support team composed of trained and experienced specialists that will adapt to your line of business and provide the support you need, ensuring efficiency in work output. This saves you the time and resources of having to train people because your outsourced team can apply their expertise right away.
Moreover, you are also ensured that key metrics are achieved such as Mean Time to Recover (MTTR) in cases of system/technology downtime, resolution rates, response rates.
24/7 operations
With an outsourced IT support team, any problems and issues can be addressed right away because they can function 24/7, which eliminates the need to wait for regular working hours to start working on solutions. You can rely on your outsourcing partner to provide seamless troubleshooting procedure and guaranteed uptime that results in smooth operations all throughout. In case of economic or business crises, outsourcing also ensures an established business continuity plan that secures and protects your company.
Security
The acceleration of the digital shift also gave way to increased threats and risks when it comes to data security. It is important to safeguard your digital assets and ensure adequate security compliance, so when looking for an outsourcing IT provider, choose one that is ISO 27001 and 9001 certified, GDPR, HIPAA and DPA20212-compliant. In turn, you will get comprehensive expertise on information security and data protection processes as well as measures to prevent any unauthorized access of client’s data at all times.
High Net Promoter Score (NPS)
Net promoter score helps businesses gauge the quality service the outsourcing company is offering. In a way, this represents the primary capabilities and expertise they provide to their clients through result-based surveys on how satisfied their clients are in providing IT support services. It also showcases how well the outsourcing partner is performing, how often they resolve technical and IT-related issues, and if their clients are satisfied with the overall experience from their service. A High Net Promoter Score results in a sense of security and peace of mind for the client.
The right outsourcing partner promises for the following:
- Operational excellence
- Build a great, high-performing cybersecurity support team specifically designed for your security needs
- Operational cost savings of up to 70%
- 90% Mean Time to Detect (MTTD)
- 90% Mean Time to Resolve (MTTR)
- 95% Team productivity
- 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 IT support team of:
- IT Technical Assistant
- Information Technology Team
- IT Operation Analyst
- IT Operation Engineer
- Cybersecurity Analyst
- Threat Intelligence Specialist
- Data Piracy Investigator
- Systems/Cloud Administrator
- AWS and Azure DevOps Engineer
- Others
Let’s work together to build a great IT support team.
Start small. Exceed expectations. Think infinitely. Think Infinit-O.
Start Small, Exceed Expectations, Think Infinitely, Think Infinit-O
LDR With Your Customers? Keep It Healthy With the Help of Outsourced CX Reps
The pandemic has surely altered almost all aspects of our lives including the way we socialize with other people, how we work and stay productive, and even the way we shop for our needs and avail of services, which led to what most call as the “new normal.”
With more people prioritizing their health and safety and being more conscious with how they spend their money, consumer behavior has vastly changed. According to a research from McKinsey and Company, new normal consumers are heavily inclined to use digital channels for information as well as touch-free services, which are deemed safer and more convenient.
In this regard, companies should adopt new ways to better serve their customers and address their concerns and inquiries in the digital space. Take care of your customers online and provide excellent customer experience through the following ways:
Increase social media engagement
Since face-to-face interactions with customers are still limited, you can still make them feel engaged with your business by posting regularly on your social media pages. May it be information about your products and services, customer testimonials, informative news or even interactive posts, this adds to the overall customer experience and helps create a personality for your brand that your customers can remember you for. It also increases your visibility in these platforms, which all can result in repeat sales and new patrons.
Add more digital channels
While some people would still call or email when they need assistance, the digital shift in the new normal has made the role of a company’s digital channels more significant. Nowadays, it is important to be reachable in channels such as instant messaging apps (e.g. WeChat, Viber, WhatsApp, etc), live chatbots, and social media to cater whichever platform your customers prefer. Self-service customer support and FAQs are also recommended to have in your list of digital channels.
Be efficient and available
Your presence in different platforms will be useless if you aren’t readily available to address the queries of your customers. More often than not, customers will continue to avail of a product or service from brands that handle their concern with efficiency and speed. In social media platforms, for example, it was found that 48% of consumers have an expected response time of 24 hours for their questions and complaints to be addressed.
It is also best to provide constant updates to your customers when it comes to dealing with larger issues so that they are on loop with the progress of their complaint.
Create a more personalized experience
One of the great things about using digital channels in customer service is the availability of data that you can analyze and use to create better and more personalized experiences for your customers. But before this, you also have to make sure that they have the control and are comfortable on how their data will be used. Customers are more likely to respond positively to personalized experiences so long as they have the control on how personal it can get.
How can outsourcing help you?
Adding a dedicated CX team in your operation can make all the difference in how you handle your customers’ inquiries and concerns, helping you provide impeccable service even in the new normal.
You can best do this by hiring a capable and trusted outsourcing company that is able to meet your unique needs and understands the demands of your brand. The right partner can gather inbound and outbound solutions, CMS, social media, and back-office services. They can provide your own dedicated team within 30 days and is at your service 24/7, with cost savings of up to 70%. Make sure that they are also ISO-certified and GDPR-compliant, so your company and client data are safe.
In summary, having the right outsourcing partner promises the following:
- Operational excellence
- Build a dedicated customer support team
- Operational savings of up to 70%
- Access to world-class talent
- A+ recruitment process
- Industry experience
- SO-certified and GDPR-compliant
- > 60 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.
We can build you a great, high-performing CX team:
- Social Media Managers
- Online Community Managers
- Customer Care Representatives (Omni-channel)
- Chat / Email Support Representatives
- Technical Support Representatives
- Website and App Developers
- Graphic Designers
- Market Research Analysts
- Bookkeepers
- Others
Let’s work together to build a great Customer Care Support Team
Start small. Exceed expectations. Think infinitely. Think Infinit-O.
Why Outsource Your Payroll Service Team for Business Stability
There are times when back office functions like Human Resource, Payroll, and Data Entry are overlooked in a company. However, this shouldn’t be the case because these roles essentially serve as the administrative backbone of any business. When these tasks are managed well, it sets the company up for success by boosting productivity and keeping costs low.
Building a quality back office team in-house, in this case a payroll service team, may be challenging especially if you don’t have access to world-class talents in the industry. When it comes to hiring people who will take care of your employees’ salaries and taxes, it is important to choose only those who are skilled and experienced in order to avoid delays, inefficiency in accomplishing tasks, and overall low quality service.
Outsourcing is a great alternative you can resort to when looking for professionals to handle your payroll functions since outsourcing providers have access to specialists that can add value to your back office. More than that, here are other advantages to outsourcing your payroll team:
Save time and resources
Hiring payroll management professionals in-house can take up a significant amount of time and money with the long and costly process of recruiting and training people as well as purchasing software and supplies they might need. When you outsource, these will all be eliminated and you are ensured that the salaries and benefits of your employees are paid out in a timely manner each and every month.
Avoid mistakes and compliance issues
One of the most significant benefits of outsourcing your company’s payroll needs is the compliance to constantly changing tax regulations. You don’t have to worry about paying US IRS penalties due to late payments and miscalculation errors because your outsourcing partner will make sure that payments are always made on time. In line with this, it is recommended to look for a provider that has a system setup that will automatically pay and file the salaries and taxes for you.
Focus on what you do best
When you outsource your payroll service team, you free yourself and your staff of the time-consuming tasks of calculating wages and salaries, withholding income taxes, paying out company and employee contributions and more. This gives you the opportunity to focus on revenue-generating activities like business growth strategy, marketing, and customer service, and other core competencies that will help you reach your goals better, equating to business sustainability and stability.
Is it safe?
While advantages of outsourcing payroll services are plenty, there are also some disadvantages to be aware of such as security issues, privacy concerns about employee data, and lack of service quality or timely reporting. But the right outsourcing partner is ISO 27001 and 9001 certified and GDPR, and DPA2012-compliant to ensure data protection and omit security breaches. Of course, these can all be prevented by partnering with a trusted and reputed outsourcing provider with a >60 Net Promoter Score.
Net Promoter Score (NPS) helps businesses gauge the quality of the customer service offered by outsourcing companies. Organizations can use NPS to assess which BPO 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, and this results in customer loyalty and retention, making a high NPS a critical trait any outsourcing 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.
When you’re aiming for business stability, team up with a solutions partner that makes your process, their process. The right outsourcing partner ensure:
- Operational excellence
- Having a great back office team
- Industry experience
- Operational cost savings of up to 70%
- Information and data security
- >60 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 Payroll and other back office teams:
- HR Compensation & Benefit Specialist
- HR Data Management Specialist
- HR Employee Engagement Specialist
- Employee Relations Officer
- Recruitment Specialist
- Payroll Specialist
- Data Entry Specialist
- Others
Let’s work together to build a great HR Team.
Start small. Exceed expectations. Think infinitely. Think Infinit-O.
How To Revolutionize Customer Care Service In This Pandemic?
It won’t be an understatement to say that COVID-19 has been the defining event of 2020, with lasting implications on all aspects of life. Businesses worldwide, especially restaurants, banks, and retail stores, are still reeling from unparalleled disruption and upheaval in its aftermath.
The far-reaching impacts of COVID-19 have had many companies rethinking their customer experience model. And as more people turn to online shopping, a brand’s ability to deliver a seamless customer experience is severely challenged.
As businesses continue to look for ways to provide support and reassurance to their audiences, revolutionizing customer care has become critical to their continuity and sustainability. While a robust contingency plan helps, it is imperative to focus and transform your customer support.
Here are a few ways to do just that:
Instant Transition To Remote Working
Physical distancing and community lockdowns have forced companies to change how they operate and cater to their clientele.
Even though flexible arrangements like remote working support organizations, ensuring a smooth transition to work-from-home in contact/call centers has proved challenging.
They’ve had to switch from large offices with hundreds of staff to a dispersed workforce confined to their homes. This has left employees potentially struggling to operate effectively from their homes.
The fact is that most companies were not ready.
However, businesses that prioritized customer service were quick to make technology and digital marketing their allies. While their websites get up and running, their representatives visit online forums to entice people to buy from their on-call or online. Many have also turned to social media and email marketing to remind their new and old customers of their presence.
Technology has taken center stage as it is critical to outsourcing companies to have the ability to embrace remote working seamlessly. Moving forward, such cutting-edge and advanced digital solutions will remain essential in delivering a consistent customer experience (CX).
Improve Customer Query Strategy to Ensure Customer Satisfaction
COVID-19 affected customer experience in two ways. At the outset, customer expectations changed drastically as they turned away from luxury purchases. And then, their queries became much more time-consuming and complex to answer at times because they wanted to make sure their hard-earned cash wouldn’t go to waste.
For instance, consumers shopping for groceries online may have questions about product availability, booking a delivery slot, and the store’s stance on social distancing and safety precautions.
But, internal factors that revolve around staffing, technology, and budgets hampered many organizations’ abilities to respond to their customers.
Essentially, most businesses end up compromising the quality of their service as they lose focus on specific channels. While customers might have accepted this during the early days of the lockdown and pandemic, it’s no longer a viable strategy.
What marketers need is a sustainable and long-term solution to customer satisfaction woes.
As it turns out, the solution is quite simple: stay connected with consumers online and do all that you can to guarantee that you care. According to 68% of the respondents in a popular survey, companies should focus on helping people during the pandemic, while 81% believe that they should offer discounts, offers, and loyalty perks for loyal customers.
Create Strategic Standout Digital Customer Experience
Customers are financially, mentally, and emotionally stressed by COVID-19. Companies implemented advanced technology and went touchless to manage their digital customers.
This, in turn, impacted their buying and spending patterns, and there will likely be long-term, collective shifts in the way your customers behave and shop online.
According to a report by Forrester, 37% of shoppers prefer to remain indoors while carrying out their main activities remotely, including socializing, working, consuming media, and making essential purchases.
As brick-and-mortar stores have limited their services physically, one-quarter of the consumers in the U.S. have shopped online for the first time. And just one-third of the existing online buyers plan to visit physical stores when they reopen.
These statistics substantiate the new customer mindset. Shoppers don’t plan on abandoning the convenience and safety of online shopping even when physical stores reopen.
And as more retailers pour more resources into building their online shopping experiences, customers’ expectations for online shopping will continue to rise.
How can outsourcing help you?
Adding a dedicated CX team in your operation can make all the difference in how you handle your customers’ inquiries and concerns, helping you provide impeccable service even in the new normal.
You can best do this by hiring a capable and trusted outsourcing company that is able to meet your unique needs and understands the demands of your brand. The right partner can:
- Build inbound and outbound solutions, CMS, social media, and back-office services or your own dedicated team within 30-45 days
- Access to world-class CX talent
- Customer Service Industry Experience
- 24/7 operations
- cost savings of up to 70%
- Established Information Security (esp this remote work setting)
In summary, having the right outsourcing partner promises the following:
- Operational excellence
- Build a dedicated ominichannel support team
- Operational savings of up to 70%
- A+ recruitment process
- Industry experience
- ISO-certified and GDPR-compliant
- > 60 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.
We can build you a great, high-performing CX team:
- Social Media Managers
- Online Community Managers
- Customer Care Representatives (Omni-channel)
- Chat / Email Support Representatives
- Technical Support Representatives
- Website and App Developers
- Graphic Designers
- Market Research Analysts
- Bookkeepers
- Others
Let’s work together to build a great Customer Care Support Team
Start small. Exceed expectations. Think infinitely. Think Infinit-O.