Blog Archive

How Outsourcing Insurance Verification Specialist Contribute to Success

Successful billing depends on successful insurance eligibility verification. That is why healthcare businesses should put enough importance on insurance verification services because it plays a major role in hospital’s claims denial management program. Basically, health insurance verification is the process of checking a patient’s active coverage with an insurance company to verify insurance claims eligibility.

Simple errors such as patients providing wrong or outdated information or when insurance policies were terminated or modified which can result in claim rejection or denial, hence hospitals and healthcare businesses have to be sure it is being done correctly. The verification process must be done before the patient is admitted into a hospital to avoid claim rejection at the on set. That is why it is crucial to employ a team of Insurance Verification Specialists in your organization. But some challenges such as high labor cost and access to certified experts makes it difficult for businesses to create their own team. But having them contributes to the following:

  1. Minimize Denials and Maximized Revenue

A team of insurance verification specialists play a big role in completing paperwork and verifying patient information with the insurance carrier to maximize reimbursement and facilitate revenue cycle improvement. They verify the following:

  • Payable benefits
  • Co-pays
  • Co-insurances
  • Deductibles
  • Patient policy status
  • Effective date
  • Type of plan and coverage details
  • Plan exclusions
  • Claims mailing address
  • Referrals & pre-authorizations
  • Lifetime maximum, and more

If those things are verified correctly, it minimizes denials which ensures that claims are processed correctly, payments are received accordingly and locks in revenue for the business.

  1. Helps Avoid Business Risks

When finalizing the medical bills of patients, health insurance should be done correctly. If implemented in a wrong way, it could result in decreased revenues. Insurance verification performed by a team of Insurance Verification Specialists helps the business to know immediately whether the insurance provider can pay the respective charge for the patient’s treatment or not. In return, they can inform the patient with the treatment plan and payment criteria beforehand and avoid any confusion on their end and unpaid treatments. Lastly, they avoid claims rework which is counter productive and is cost incurring for the operations. In return, this improves billing cycles with decreased denial of claims and leads to an overall development of healthcare practice.

  1. Simplifies Claims Process

Healthcare businesses prefer a smooth and aligned work process. These days healthcare billing companies make sure that the verification is performed and completed in a simple yet hassle-free manner which allows medical professionals to then work with ease and stop worrying about the payments if you have a team of dedicated Insurance Verification Specialists in your organization. On top of it all, they liberate your core-medical team from the unnecessary paperwork. This means they can solely focus on their specialization without worrying about the charges and other clearances from patients.

Although, building a team of Insurance Verification Specialists can be costly and challenging to find those that are qualified. But the right outsourcing partner can meet your insurance verification demands. Make sure to look for a partner that has:

  1. Industry Experience and Expertise

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 such a sensitive sector that is healthcare 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.

  1. Access to World-Class Quality Talent

Another thing to factor in when choosing a healthcare BPO is its range of services, from billing, coding, clinical documentation, telehealth services, and more, it would be best if you go for a one-stop provider as this will save you from the trouble of working with different providers for different services. At the same time, dealing with one company enhances overall efficiency and accuracy.

Good providers also insist on building a dedicated team of highly-experienced healthcare 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 and can project a 70% operational cost savings.

  1. 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  Insurance Verification Specialists & RCM team
  • Prevent claim submission errors and rejections
  • Improve business revenue
  • Operational cost savings of up to 70%
  • 90% Improved denial management rate
  • ISO 27001 and 9001 certified, GDPR, HIPAA 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-performance Revenue Cycle Management team composed of:

Patient Support Services

  •  Insurance Verification Specialist
  • Patient Concierge 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

The Value of a Dedicated Team of Collections Specialist Team For Your Company

Just like any other industry, uncollected debt and outstanding payments can result in cash flow problems and later on, financial losses for medical providers. Healthcare business consultant agency, Sage Growth Partners, conducted a survey among 100 hospital executives in 2018 and found that about 36% of responding executives said their health systems faced more than $10 million in bad debt. 

When it comes to patients, a 2016 survey by Kaiser Family Foundation and New York Times showed that one out of five insured working-age Americans faced problems when it comes to paying their medical bills in the past year and among those without insurance, 53% dealt with the same problems. With all these findings, medical providers should really consider investing in a good collections team that is experienced in the laborious process of debt collection.

Training your in-house staff for this task can be an option, but it is best to outsource your collections specialists so you can steer away from spending extra resources and time and ensure that your staff remains focused on taking care of patients rather than paperwork and phone calls. An outsourced team of collections specialists will thoroughly review and process billing information, debt, and unpaid insurance claims to yield the best results for your company. 

Here are 4 more reasons why you should choose to outsource your collections team:

  1. Save 95% on Resources and Time

As mentioned above, hiring an in-house collections team can be taxing on the budget. Since recovering delinquent funds is no easy task, and the laws and regulations when it comes to debt collection are ever-evolving, the staff will need constant training and monitoring, which you will not need to handle when you partner with a reputable outsourcing company.

Moreover, by outsourcing your collection specialists, you free your staff from unnecessary stress and they can focus more on their tasks and taking care of patients, resulting in better employee morale and patient satisfaction.

  1. Access to Specialists and Professional Tools

Outsourcing gives you access to a talent pool of experienced collections specialists who are not only knowledgeable about billing procedures, collection techniques, laws related to debt collection, and other related topics, but are also well-versed when it comes to dealing with patients and their concerns when it comes to medical debts They exhibit compassion and courtesy while still being transparent and professional to patients so they can help them settle their balances through payment plans that fit with their budgets.

At the same time, they also have professional tools and third-party sources at their disposal that can be used to contact clients who do not pick up the phone or those who left town in an attempt to escape payment.

  1. Collect Debts from Delinquent Clients

Equipped with ample knowledge on collections law and years of experience on the job, collections specialists are more assertive when it comes to delinquent clients or those who failed to make a required payment or action in a given period of time. They are consistent and patient in following up to these kinds of clients so that delinquent accounts can be resolved as quickly as possible and be avoided from occurring again moving forward.

  1. Improved Cash Flow

Effective debt collection is important in revenue cycle management (RCM). With your outsourced collections team working round the clock to make sure that accounts are up-to-date and the collections cycle is shorter, it will ultimately improve your cash flow and increase your bottom line.

Look for a trusted outsourcing company that can help you build a dedicated collections team who has:

  • Access to world-class talent
  • A+ recruitment process that can hire and on-board new teams within 30-45 days
  • Most specially, a high Net Promoter Score of at least 60. Why?

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 an 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.

With the right partner,  you are guaranteed with: 

  • Operational excellence
  • Build a dedicated team of collection specialists and RCM team that can help you properly manage claim denials
  • Operational cost savings of up to 70%
  • 95% coding, billing and documentation accuracy
  • 90% ROI in correct claims processing
  • Improved denial management rate
  • ISO 27001 and 9001 certified, GDPR, HIPAA compliant
  • Net Promoter Score: Sense of security and peace of mind

Connect to a world-class pool of talent all the while saving up to 70% operational cost without compromising quality of work and maintaining operational excellence by finding the right partner. The right partner also has an established Information Security in place to ensure patient data confidentiality regardless if working on site or remotely. 

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 Collections and Other RCM team composed of:

Collections Management Services

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

Patient Support Services

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

Health Analytics and Risk Management Services

  • Healthcare Analyst

Let’s work together to build a great Collections Team.

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

1 month ago No Comments Views

3 Types of Customer Service Support Your Business Should Have

Nowadays, everything seems to be turning digital. This means that companies and businesses are now able to reach more customers around the globe, but it can also be overwhelming, having to maintain business operations while attending to a rapidly increasing number of customers, product or service inquiries, and many other factors that come with an increased demand. If you’re looking for ways to address this problem, outsourcing might be perfect for you. Below are three types of customer service support that you can outsource and how you can benefit from them: 

  1. Social Media Support

A January 2020 report from We Are Social states that more than 4.5 billion people now use the internet, while social media users have passed the 3.8 billion mark. This is equivalent to 60% of the world’s population, and it is worth noting that 73 million of that 3.8 billion are located in the Philippines. In short, you would be missing out on a lot of opportunities for growth if you don’t take advantage of social media. One of the biggest advantages of outsourcing social media support is that you won’t have to worry about providing round the clock customer support services. More importantly, your BPO partner will help you strategize and manage social media content creation while helping you avoid the common mistakes when it comes to advertising and interacting with customers on social media. It also helps in sentiment analysis wherein data analysts within for businesses can gauge public opinion, monitor brand and product reputation, and understand customer experiences through social media platform.

  1. Technical Support

Tech or IT support can be tricky, especially since it requires constantly keeping up with IT trends and advancements. This is where outsourcing comes in: the right BPO partner would help you build teams that are already experts in IT while helping you save money, not just in investing in manpower, but also in taking care of technical infrastructure and training. Similar to social media support, tech support BPOs also allow your company to have 24/7 tech support operations, and help you manage IT-related risks.

The right outsourcing partner also has internal Information Security in place and make sure they are:

• ISO 27001:2013 and ISO 9001:2015 certified

• General Data Protection Regulation (GDPR) compliant

• Health Insurance Portability and Accountability Act (HIPAA) compliant

  1. Customer Care Support

There are plenty of other ways that customers in the digital world prefer to connect with your company, and the most prevalent–aside from social media–are email, chat, and call. Customer care support beyond social media shows that you’re serious about building personal connections with customers and that transactions go beyond just marketing products and services. Aside from enabling you to quickly attend to the queries and needs of your customers by providing round-the-clock support, the right BPO partner knows how to handle the reputational risks that come with dealing with all kinds of customers and is hence an effective protector of your brand image.

To effectively build a great, high-performing customer support team, make sure to partner with a trusted outsourcing company that has

  • Access to world-class talent
  • A+ recruitment process that can hire and on-board new teams within 30-45 days
  • Most specially, a high Net Promoter Score of at least 60

Why should your outsourcing partner have at least 60 on Net Promoter Score?

Net Promoter Score helps businesses gauge the quality of the customer service offered by outsourcing companies. Organizations can use NPS to assess which customer service 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 a customer service 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.

These five factors demonstrate that when looking for a BPO partner, you must focus not just on the services, but also on the shared vision. Does your potential BPO partner share your views and beliefs when it comes to providing customer service and nurturing relationships with your customers? Now that you’re aware of these, you might already have a mental checklist of things that you must look for. Once you start looking for a BPO partner, make sure to keep these qualities in mind.  

When you’re expanding your business, team up with a solutions partner that makes your process, their process. The right outsourcing partner ensure:

  • 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 (CSAT)
  • 95% response rate in social media, phone, email platforms
  • 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 CX team:

  • Social Media Managers 
  • Online Community Managers
  • Customer Care Representatives (Omni-channel)
  • Chat / Email Support Representatives
  • Technical Support Representatives
  • Market Research Analysts
  • Others

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

2 months ago No Comments Views

4 Ways of Overcoming Cybersecurity Risks through Outsourcing

Recently, there’s been a spike in the number of businesses embracing digital transformation due to the limitations and challenges brought about by the COVID-19 pandemic. However, companies are less focused on the risks of shifting to digital than on the opportunities and possibilities presented by it. According to an EY research, only 36% of new technology-enabled business initiatives include cybersecurity teams from the start. As a result, companies are more prone to cybersecurity threats. Mitigating and addressing these threats can be challenging, especially if you have limited to no experience in cybersecurity and because of the high labor cost of building an in-house cybersecurity team. How can outsourcing cybersecurity help you overcome cybersecurity risks despite these challenges? 

  1. Access to World-Class Talent at a Reduced Operational Cost

Overall, outsourcing will cost you less than building an actual team because it gives you access to expertise and increased cybersecurity efficiency without much of the overhead cost. Outsourced IT support teams have most likely been already trained on the ins and outs of cybersecurity. This means that you won’t have to cover training and capacity development costs. Outsourcing also gives you flexibility: it is up to your IT partner to customize a solution that is most cost-effective and that fits your needs as a company. 

Another reason why outsourcing is cost-effective is that in the long run, it helps you avoid cybersecurity threats that would cost you a lot more by compromising or stealing your data. If you don’t already have a solution in place, the costs of repetitional damage, higher insurance premiums, and fees for emergency IT services are likely to be higher. Because of their access to world-class, A+ recruitment process for hiring to on-boarding in 30-45 days, the right partner can also project an overall operational savings of up to 70%.

  1. Internal Information Security Measures

Most cybersecurity threats take advantage of obtained or stolen information or data, and this is one area where an outsourced IT team can help. A good partner knows that privacy is tantamount to information security and therefore implements strong security measures that reduce privacy breaches. With their help, you can extend these security measures to your company’s data and avoid most of the threats related to cybersecurity. 

Their operations and associated client information are housed in state-of-the-art facilities with controlled access areas that provide 24/7 security. They offer comprehensive information security & data protection process ensures that all company and information is ultimately safe at all times and are  certified and compliant with:

• ISO 27001:2013 and ISO 9001:2015

• General Data Protection Regulation (GDPR)

• Philippine Data Privacy Act of 2012

• Health Insurance Portability and Accountability Act (HIPAA) 

  1.  Keeping Up-to-date on IT and Cybersecurity Trends

It’s hard to keep track of technological advancements and how they can affect your company and the cybersecurity threats surrounding it, so it’s helpful to have an IT partner that is on top of the trends and knows about the latest IT tools (e.g. Sysinternals Suite, Recuva, Virtual CloneDrive) and emerging cybersecurity issues at a larger scale. Being up-to-date means that they also constantly enhance the capabilities of their IT experts to keep up with the ever-changing technological landscape. By outsourcing your IT needs, you can be sure that your company evolves with technology, which is extremely helpful in detecting and addressing cybersecurity vulnerabilities and gaps.     

Investing in cybersecurity, especially now that almost anything can be done through digital platforms, is a smart move, no matter the size of your company. Just make sure to find an outsourcing partner that can offer data  and back office support that help you build a great and high-performing cybersecurity team based on your company’s needs.  

  1. >60 Net Promoter Score

The right outsourcing partner has a Net Promoter Score of >60. This 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 much satisfied their clients are with the cybersecurity support services they are receiving from their outsourcing partner. It also showcases how well the outsourcing partner is performing in terms of cybersecurity and the client’s overall experience from their service. A High Net Promoter Score results in a sense of security and peace of mind for the client from operation excellence and hitting Key Performance Indicators (KPIs) such as Mean Time to Resolve (team’s response to cyberattacks), Mean Time to Detect (how long it takes your team to become aware of cyberattacks) and overall team productivity.

Lastly, 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 Cybersecurity team of:

  • Cybersecurity Analyst
  • Threat Intelligence Specialist
  • Data Piracy Investigator
  • Systems/Cloud Administrator
  • AWS and Azure DevOps Engineer
  • IT Technical Assistant
  • Information Technology Team
  • IT Operation Analyst
  • IT Operation Engineer
  • Others

Let’s work together to build a great Cybersecurity Team.

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

2 months ago No Comments Views

Outsourcing Cybersecurity Team Checklist

Years ago, businesses could get cybersecurity protection from simple security measures and basic firewalls. But due to technological advancements and upgrades, Cybersecurity spending in the US skyrocketed to $60 billion in 2017.

This poses a global change as many companies are now fortifying their cybersecurity measures by hiring skilled security professionals to their security operations. But for small and medium companies, high labor and operational costs, limited industry experience as well as access to talent limits them to create an in-house cybersecurity team. 

Therefore, choosing between in-house or outsourced cybersecurity depends on available resources, size of the company and data availability. In-house allows a business to maintain full control of operations and your team will have full business familiarity. But you also need to have the right person-in-charge to lead your in-house team and ample technological resources they may need. But if you choose to outsource your cybersecurity team, make sure to thoroughly check your potential partner’s background with the follow checklist:

  1. Do they have access to skilled and licensed cybersecurity experts?

Skills shortage extends to cybersecurity professionals. On top of this, they also belong to the top tier in terms of salary grade. Small and medium-sized companies are being hit the hardest by this because the limited supply of qualified talent is quickly snapped up by multinational businesses that can afford to pay the high salaries and provide the best benefits and perks that this talent has the power to demand.

If looking for an outsourcing company to build a cybersecurity team for you, make sure that they have access to world-class talent and have an A+ recruitment process. These 2 things allow them to build a great, high-performing cybersecurity team within 30-45 days from hiring to on-boarding cybersecurity experts and will curate a competency-based development plan to keep your dedicated team sharp so you won’t need to spend additional training cost giving you a projected operational savings of up to 70%

  1. Do they have security certifications and compliant with security regulations?

Since your potential outsourcing partner is a 3rd party vendor and will have access to your business’s data, make sure that they have certifications and Information Security process to ensure that your data is safe and secured. Look for a partner that is ISO 27001 and 9001 certified and GDPR compliant to assure you that there will be no data compromise.

Compliance and certifications mean they understand that data security is one of the most crucial elements for your growing business and that the team they are building for you are compliant and certified which prompts them to comply with the ethical standards of the industry. Lastly, having their own information security adds another layer of protection for your company.

  1. What is their Net Promoter Score?

Operational excellence can be measured with Net Promoter Score. The right outsourcing partner should have a Net Promoter Score of >60. This will help you gauge the quality service the outsourcing company is offering and represents the primary capabilities and expertise they provide to their clients. This score is from result-based surveys that their existing clients answer on how much satisfied they are with the cybersecurity support services they are receiving from their outsourcing partner. This also showcases their client’s overall experience and satisfaction with their service.

A High Net Promoter Score results in a sense of security and peace of mind for you because it attains operation excellence and hitting Key Performance Indicators (KPIs) such as Mean Time to Resolve (team’s response to cyberattacks), Mean Time to Detect (how long it takes your team to become aware of cyberattacks) and overall team productivity.

If you find a partner that has all 3, you are guaranteed to the following benefits:

  • 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 (MTD) 
  • 90% Mean Time to Resolve (MTTR)
  • 95% overall team productivity 
  • ISO 27001 and 9001 certified, GDPR, HIPAA 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 Cybersecurity team of:

  • Cybersecurity Analyst
  • Threat Intelligence Specialist
  • Data Piracy Investigator
  • Systems/Cloud Administrator
  • AWS and Azure DevOps Engineer
  • IT Technical Assistant
  • Information Technology Team
  • IT Operation Analyst
  • IT Operation Engineer
  • Others

Let’s work together to build a great Cybersecurity Team.

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

For a free business consultation, you can schedule an appointment here.

2 months ago No Comments Views

How Outsourcing a Team of Denial Management Specialist Help in Business Recovery

Medical claim denials are one of the most common barriers to effective revenue cycle management (RCM) as inadequate management of these can lead to revenue loss, additional costs, and slowing down cash flow. According to a report by the American Academy of Financial Physicians (AAFC), the average denial rate across the healthcare industry is between 5 to 10 percent with below 5% being the more desirable rate indicating that a provider has healthy cash flow.

The Center for Medicare and Medicaid Services has stated that 30% of claims are either denied, lost, or ignored. This is where denial management specialists come into picture. They are the ones who have the duty to review and resolve denied patient insurance claims and appeal for possible reimbursement. Building an in-house denial management team can be quite taxing especially to resources and time, which is why outsourcing is highly recommended due to its multiple advantages that can help your business especially in times of crisis:

Access to World-class Talent

Outsourcing denials management means you have access to a pool of trained professionals who have extensive experience and insight on important subjects such as claims submission and appeals, standard coding rules, and NCD and LCD policies that determine which healthcare services will be covered by Medicare on a national and local level, respectively. This does not only prevent denials but also help you avoid getting into the same situation in the future.

Since these professionals already have the knowledge needed, you are guaranteed that they can do their jobs properly without the need for training or orientation which contributes in cutting costs while still delivering quality service. With this, you and the rest of your staff can focus on providing care to patients.

Their access to world-class talent coupled with their A+ recruitment process can build you a dedicated team of Denial Management Specialists and Revenue Cycle Managers (RCM) in only 30-45 days from hiring to on-boarding.

Limit Denial and Claims Errors

Incorrect coding, whether it’s using a mismatched ICD or outdated CPT code or entering incorrect patient information, is considered to be one of the common reasons for denied claims according to the 2013 MGMA Health Insurer report card. By having a dedicated team of denial management specialists to thoroughly filter claims, these errors can be fixed and prevented, saving you the trouble and high costs of dealing with initial denial or rejected appeal. 

Just to provide a better picture on why reducing errors is important, a study by the American Medical Association (AMA) found that practices spend approximately $15,000 every year on reworking claims, including phone calls, investigative work, and claim appeals.

Improved Cash Flow

Ultimately, strategic denial management is the key to a healthy cash flow. You can achieve this by opting to outsource a team that will focus on tracking and processing claims and identifying common causes of denied claims in your business. Through this, you will be able to avoid revenue loss, make guided business decisions that can prevent future denials and lower your denial rate.

Sense of security and peace of mind from a Net Promoter Score of >60

Operational excellence is measured by a Net Promoter Score of >60. This is a result from a survey answered by their clients on how much they are willing to promote their outsourcing partner. If the score is >60, it means that they were able to receive outstanding quality service and the level of satisfaction they have with the partnership. To put it simply, if you partner with an outsourcing company with an NPS of >60, you have a sense of security that the services they are providing responds to your unique needs and pain points which in return give you peace of mind to allow you in focusing on achieving your business goals as they focus on denial management.

Look for a trusted outsourcing company that can help you build a dedicated denial management team. In return, you are guaranteed with: 

  • Operational excellence
  • Build a dedicated team of denial management specialists and RCM team that can help you properly manage claim denials
  • Operational cost savings of up to 70%
  • 95% coding, billing and documentation accuracy
  • 90% ROI through accurate claims
  • Improved denial management rate
  • ISO 27001 and 9001 certified, GDPR, HIPAA compliant
  • Net Promoter Score: Sense of security and peace of mind

Connect to a world-class pool of talent all the while saving up to 70% operational cost without compromising quality of work and maintaining operational excellence by finding the right partner. The right partner also has an established Information Security in place to ensure patient data confidentiality regardless if working on site or remotely. 

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 Denial Management team composed of:

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

Let’s work together to build a great  Denial Management Team.

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

For a free business consultation, you can schedule an appointment here.

2 months ago No Comments Views

Traits of a Great Outsourcing Company for your Cybersecurity Needs

In a digitally advanced world, companies should consider cybersecurity as a crucial aspect of their business operations. Given the risk of hacking and breaching which can compromise valuable and sensitive company and customer data, employing effective security and risk management solutions is a must.

Moreover, customers value companies that prioritize safeguarding personal information more than those that do not. Multinational  professional services network KPMG, through its survey “Consumer Loss Barometer,” has explored this in different fields of business including financial services, cloud and connected devices, mobile, automotive, and retail. It found out that cybersecurity can be influential in producing more brand loyalty, with some consumers having zero tolerance for any occurrence of breach or mishandling of important and private information that will ultimately lead them to switch brands.

Admittedly, building an in-house cybersecurity team can be expensive because of the high salary grade of these experts coupled with limited access to these talents. On top of that, other operation costs are high because cybersecurity tools and softwares are expensive (i.e. 365, Box, Dropbox, Yammer), not to mention the cost in maintaining a physical office to house your cybersecurity team. That is why outsourcing has become a popular practice among businesses. 

When looking for the right outsourcing company to build a team for you, here are 3 traits that you should look for:

  1. Access to World-class Talent at a Reduced Cost

Hiring a cybersecurity team is expensive because the experts in the field are not only limited but their level of expertise puts them in the top bracket in terms of salary grade. In addition, the training and certifications for cybersecurity and information security are important but costly. Aside from labor cost, operational expenses such as hardware, software licenses, cloud service subscriptions, and maintenance are equally expensive. But with the right outsourcing partner, their A+ recruitment process and access to world-class talent allows them to build a great, high-performing cybersecurity team within 30-45 days. They also have access to certified cybersecurity experts and will curate a competency-based development plan to keep your dedicated team sharp so you won’t need to spend additional training cost giving you a projected operational savings of up to 70%

  1. Guaranteed Compliance and Certification

One of the first things you should consider in an outsourcing company is their access to world-class talent with the required level of skill and expertise in cybersecurity risk management. Since they are handling highly sensitive data, they should also be able to comply with the ethical standards of the industry. These can be reflected in third-party certifications and assessments by hiring people with the any of these certifications and proficiency in:

  • ISO 27001 and 9001 certified
  • GDPR Compliance
  • Certified Ethical Hacker (CEH)
  • CompTIA Security+
  • Certified Information System Security Professional (CISSP)
  • Certified Information Security Manager (CISM)
  • Certified Information Systems Auditor (CISA)
  • NIST Cybersecurity Framework (NCSF)
  • Certified Cloud Security Professional (CCSP)
  • Computer Hacking Forensic Investigator (CHFI)
  • Cisco Certified Network Associate (CCNA) Security

These compliance and certifications mean that if you outsource your cybersecurity team with the right partner, they understand that data security is one of the most crucial elements for a growing business like yours. They also make sure that the team they are building for you are compliant and certified as needed to protect the company. Lastly, they have their own information security to add another layer of protection for their clients. 

  1. Transparent Reporting Practices

Transparency is another important aspect of cybersecurity risk management due to the complexity of the task at hand. Good outsourcing companies have routine analytic and reporting expectations to ensure that data and information are handled properly by its personnel. 

Studies have shown through the years that the “human factor” is the weakest link in cybersecurity. In a study conducted by Kaspersky, it is reported that 46% of cybersecurity hacks and incidents were due to untrained staff and in 40% of businesses around the world, employees were found to hide a security incident when it happens. 

Partner with an outsourcing company that can provide your business a tailored cybersecurity risk management solution based on your unique needs. After all, security is risk-based, which is why no single solution fits all. Also bear in mind that your outsourcing partner should have the capability to scale its services in order to prioritize all aspects of your business. In the long run, this will be convenient when you need to scale your solutions together with your changing business needs.

Bonus: >60 Net Promoter Score

The right outsourcing partner has a Net Promoter Score of >60. This 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 much satisfied their clients are with the cybersecurity support services they are receiving from their outsourcing partner. It also showcases how well the outsourcing partner is performing in terms of cybersecurity and the client’s overall experience from their service. A High Net Promoter Score results in a sense of security and peace of mind for the client from operation excellence and hitting Key Performance Indicators (KPIs) such as Mean Time to Resolve (team’s response to cyberattacks), Mean Time to Detect (how long it takes your team to become aware of cyberattacks) and overall team productivity.

Lastly, 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 Cybersecurity team of:

  • Cybersecurity Analyst
  • Threat Intelligence Specialist
  • Data Piracy Investigator
  • Systems/Cloud Administrator
  • AWS and Azure DevOps Engineer
  • IT Technical Assistant
  • Information Technology Team
  • IT Operation Analyst
  • IT Operation Engineer
  • Others

Let’s work together to build a great Cybersecurity Team.

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

2 months ago No Comments Views

The Role of Patient Concierge During Surge in Healthcare Demand

Today, business owners recognize the surge in healthcare demand can impose risks in health and business because this overburdened the healthcare system. It also means that if a patient’s inquiries are not managed well, it results in increased frustration and ultimately making them unsatisfied with the healthcare service they’re receiving from your company. Lastly, financial stress can surface and lost productivity from your healthcare team creates even greater chaos.

But like all high-achievers business owners who are forward-thinker, and solution-oriented, they recognize that one of the most productive solution is to outsource a team of Revenue Cycle Management (RCM) such as a team patient concierge to address specifically surge in patient inquiries during a surge of healthcare demand. To fully appreciate their support in this type of business challenge, here are the 3 major roles:

  1. Decrease Patient Wait Time

With limited staff and long queues, wait times are alway inevitable. The traditional system’s way to counter this is increasing in-house staff numbers to accommodate the surge which poses  an enormous and expensive operational expense for healthcare organizations. But by outsourcing a relatively low-cost team of patient concierge with a trusted partner, you can get better results for significantly less cost – freeing up funds for use elsewhere.

An outsourced team of patient concierge allows your core healthcare members to focus on patient and treatment related responsibilities because calls, emails, and other forms of inquiries will be addressed by this dedicated team, lessening your patient’s wait time because someone will respond solely for their concerns. This also allows a smooth patient flow because they can book appointments in their own time and get updates without leaving the comfort of their own home. An outsourced patient concierge team is also available 24 hours a day and requires minimal interaction. Just a few taps of a phone and an appointment is booked.

  1. Encourages patient-centered care

As mentioned above, having a dedicated team of patient concierge during surge of healthcare demand enables your medical staff to focus on patient-centered duties. No healthcare experience will be positive if the actual treatment and care your team member is providing is only half-focused efforts. With a dedicated patient concierge team, medical staff are kept informed of not only appointments but all relevant information they need to know before a patient arrives or visits your hospital. They will be well guided through all necessary information throughout the patient’s journey resulting in patients feeling well taken cared and heard. Outsourcing your patient concierge team makes every appointment more efficient and encourages building a better patient relationship.

  1. Ensures Patient Satisfaction

Patient concierges work strategically by targeting critical areas that affect overall patient satisfaction. Decreasing wait time and allowing medical team members to focus on patient care ensures increased patient satisfaction. In a survey, it states that 99% of patients agree that their satisfaction increased because of the hospital’s concierge service. 

And since a team of patient concierges manage the non-clinical responsibilities to primarily focus on patient concerns prior, during and after the course of treatment, the benefits are four-fold; high patient satisfaction, streamlined patient flow, clinical efficiency and decrease in clinician burnout.

It has been identified that 20-30% of dollars spent in the US healthcare system is sent to waste due to unnecessary spending, building a team of patient concierge is best done with a trusted outsourcing partner. They usually have A+ recruitment process that can hire and on-board your team within 30-45 days, have access to world-class talent at a more cost efficient labor cost allowing a projected savings of up to 70%, and a Net Promoter Score of >60 as your insurance of the quality of service as well as the operational excellence they can provide to your company. All of these best traits yield to:

  • Operational excellence
  • Building a great, high-performing Patient Concierge and RCM team
  • Operational cost savings of up to 70%
  • Information and data security thru ISO 27001 and 9001 certification, GDPR, HIPAA compliance
  • 100% overall patient satisfaction
  • 95% first call resolution
  • 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-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.

For a free business consultation, you can schedule an appointment here.

2 months ago No Comments Views

4 Reasons Why Outsourcing Your Tech Support Team is a Smart Move

The internet revolution has shaped businesses in the 21st century in ways that many of us couldn’t have imagined. Not only has it redefined the way companies do marketing and customer service, it has also changed the definition of growth for all types of businesses through having available technical support to answer over the phone and resolve customer’s issues. Today’s growth metrics often include this type of support, and finding ways to optimize and enhance this aspect of your company’s service can be very tricky and slow because building your own team is expensive due to scarcity of talent and those with tools proficiency, especially for small and medium businesses where resources are limited and has meager experience in building an in-house technical support team

One effective solution is outsourcing, and here are the top 4 reasons why: 

  1. Outsourcing allows you to save and scale

Outsourcing tech support means that your BPO partner can control the scale of manpower to meet your changing needs. This applies to taking care of resources such as technical infrastructure (including softwares and operating systems like Microsoft servers, Linux Server Operating System, IP-PABX, Cisco Technologies, etc) assuring you that the teams built are not only trained and certified but are also tools proficient. Their A+ recruitment process can scale your business and build you a great, high-performing technical support team through their access to world-class talent yet with a projected savings of up to 70% on operating costs.  This means that you can be sure that your tech support is at its best and that you have the advantage of being able to access cutting edge technology and services without breaking the bank. 

  1. Outsourcing allows you to focus on business operations

One key advantage of outsourcing is that you’re able to focus on your core business operations, developing your business processes, products, and services without worrying about the burden of implementing and maintaining all technical-related work. This team can ensure operational excellence and your customers’ technical-related concerns are responded to in a timely manner and resolved according to Key Performance Indicators (KPIs) and Service Level Agreement (SLAs) such as technical support resolution rate and high team productivity.  This is vital, especially since it’s your business operations that ultimately indicate your company’s competitiveness and edge compared to other companies. 

This also allows a 24/7 operation with the appropriate escalation levels (tiered technical support) which means that any problems and issues can be addressed as soon as possible and your customers will not need to wait the regular 8-5 working hours to get their issues resolved. The right partner promises reliability and seamless troubleshooting procedure that results in both practical and cost-effective solutions.

  1. Outsourcing helps protect your and your customer’s data

Tech support covers security testing, security monitoring, and response to security threat incidents. This is important, especially if most of your internal and external communications happen online or in the digital world especially in the new normal. Outsourcing tech experts ensures that the likelihood of your company becoming the victim of cyberattacks is minimized. This also means that any security breach or virtually any disaster is addressed immediately and that your company is able to recover quickly. 

The right partner is ISO 27001 and 9001 certified, GDPR, HIPAA and DPA20212-compliant because they understand that data security is one of the most crucial factors for a growing business especially in the evolution of the blended office and remote work set up. They also make sure that the team they are building for you are educated and compliant in data privacy regulations and policies.

  1. Outsourcing ensures customer satisfaction through a high Net Promoter Score (NPS)

A high NPS of >60 means that clients are highly satisfied with the service they are receiving from their outsourcing provider. Their pain points and unique needs are addressed accordingly. A high-quality service delivery of the outsourcing partner extends to the satisfaction of their client’s customers as well. A promoter NPS gives clients a peace of mind – that the outsourced business processes are handled meticulously and efficiently. 

With these four advantages, you now probably have a clearer picture of how outsourcing tech support can work for you and your company. Before taking that leap, though, make sure that you know the particulars of your needs and goals for outsourcing–that way, it will be easier for you to find a BPO partner that suits your company. The finding the right partner can yield these great results:

  • Operational excellence
  • Build a great technical support team with good communication skills
  • Operational cost savings of up to 70%
  • 90% technical support resolution rate
  • 95% team productivity
  • Information and data security
  • ISO 27001 and 9001 certified, GDPR, HIPAA and DPA20212-compliant
  • NPS: 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 technical support team:

  • Technical Support Representative
  • IT Technical Assistant
  • Information Technology Team
  • IT Operation Analyst
  • IT Operation Engineer
  • Others

Let’s work together to build a great Technical Support Team.

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

2 months ago No Comments Views

Benefits of Outsourcing IT Support Services

As businesses are converting from manual set up to digital systems, most if not, all are building and upgrading strong IT services for their company. Large corporations usually have in-house IT tech support services because they have resources to maintain it, but for small to medium sized businesses, the smarter way is to outsource this department. Why? Because building a fortified IT team is not only costly but it requires knowledge-based experience to keep an in-house IT team operational.

Although in-house support ensures that you always have an IT support expert who knows your company intimately, outsourcing this team from a trusted partner offers the same peace of mind. Listed below are 5 benefits of outsourcing your IT services:

  1. Reduce Labor Costs

Hiring an IT team is expensive because the experts in the field usually belong to the top tier in terms of salary grade. On top of that, training and certifications like Microsoft Certified Systems Engineer (MCSE) are important, but expensive. Aside from labor cost, operational expenses such as hardware, software licenses, cloud service subscriptions, and maintenance are equally costly.

Although cost savings is not only the sole advantage of outsourcing, it can be a deciding factor, especially if you are running an SMB on a tight budget. A small in-house IT team can cost your team tens of thousands of dollars each year. On the other hand, the cost of outsourced IT tech support can give you as much as 70% cost savings, especially with the right partner. They also have access to world-class talent and their A+ recruitment process ensures that they can build you a great IT team in only 30-45 days.

  1.  Increase Efficiency and Competitiveness

The right outsourcing IT partner will have resources and experience to adapt to your line of business effectively ensuring efficiency in work output. They can build you a great IT team, train them, and provide the support they need to make sure that your unique demands are addressed accordingly. For most implementations, quality IT companies will bring years of experience in the beginning saving you time and money all the while ensuring that key metrics are achieved such as  Mean Time to Recover (MTTR) in cases of system/technology downtime, resolution rates, response rates.

Best outsourcing partners are already in the business of measuring their own activity, so it’s in their best interest to make IT consistently better for their clients. Also, vendor results are typically watched more closely to maintain excellence. If your company experiences problems all at once, your outsourcing partner will be able to quickly allocate the pressing issues to different representatives to solve the problems simultaneously. They have multiple employees where they can delegate different IT experts at the same time. And when things are working smoothly, nobody is being paid to sit and wait for the phone to ring which in return reduces downtime and improves employee productivity.

  1. Compliance, Security and Risk Management

Every business investment has a certain amount of risk. Markets, competition, government regulations, financial conditions, and technologies all change very quickly. Outsourcing providers assume and manage much of this risk for you, with specific industry knowledge, especially security and compliance issues. The right partner with an established Information and Cyber Security system is much better at deciding how to avoid risk in their areas of expertise.

Find a partner who is ISO 27001 and 9001 certified, GDPR, HIPAA and DPA20212-compliant because they understand that data security is one of the most important things for a growing business. They also understand that simple firewall and antivirus software as your company’s sole security measure is not enough. They have a comprehensive information security & data protection process ensuring that all company and information is ultimately safe at all times. They also conduct regular audits to identify processes and procedures vulnerabilities with strict measures in place that prevent any unauthorized access of client’s data at all times.

  1. 24/7 Operations

Outsourcing your IT support services also ensures that they can function 24/7 which means that any problems and issues can be addressed as soon as possible without the need to wait for the regular 8-5 working hours. The right partner promises reliability and seamless troubleshooting procedure that results in practical, cost-effective solutions making your company secure and protected. Lastly, outsourcing ensures an established business continuity plan that secures your company in any occurrences of economic or business crises.

  1. 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 much 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.

All these benefits and more can be found with the right outsourcing partner who can provide a customized, high quality IT support service solutions that can promise for the following:

  • Operational excellence
  • Build a great IT team specifically designed for your technical support needs
  • Operational cost savings of up to 70%
  • 90% IT resolution rate
  • 95% ticket response rate
  • 90% reduced system downtime 
  • Information and data security
  • 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 team:

  • IT Technical Assistant
  • Information Technology Team
  • IT Operation Analyst
  • IT Operation Engineer
  • Threat Intelligence Analyst
  •  Systems/Cloud Administrator
  • AWS and Azure DevOps Engineer
  • Others

Let’s work together to build a great IT Team.

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

2 months ago No Comments Views

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