Are you thinking about partnering with an outsourcing company to supercharge your business growth, but holding back? There are many companies that hesitate to team up with an outsourcing partner for several reasons.
However, companies, big or small, will attest that signing up with an outsourcing partner is more beneficial than going solo in business growth, provided they have found a great partner. The benefits of outsourcing for healthcare companies are truly abundant, in spite of the several myths that surround outsourcing. These misconceptions may hinder or preclude exactly that desired growth or cost-savings.
Here are some of the most common misconceptions about outsourcing, and the truth behind them:
Myth #1: Only for Big Companies
Truth: This is one of the biggest fallacies in the industry, and it’s best to get this out of the way. Many outsourcing companies provide customized services that fit any company size, be it a startup, SME, or multinational enterprise.
This was the case of a Virginia-based home health company that serves patients in Maryland and Washington DC. With 800 employees in a span of 25 years, the company was having facing challenges as their company was growing, such as scaling. They were thinking of outsourcing, but they were uncertain if this opportunity was only available for bigger companies.
Eventually, they took the leap of faith and built a small team with Infinit-O and quickly experienced benefits! Over time, the team has grown by 10x, truly fueling their extensive growth.
Myth #2: Team with No Training
Truth: Most, if not all, outsourcing companies hire specialists in various fields who deliver customer-focused results that go beyond the metrics. These individuals bring to the table specific skill sets that come from significant professional experiences or educational specializations, and further their knowledge with training provided by their company. A client will work with a highly-trained team that continues to develop their skills to be more well-rounded individuals for both the client and beyond.
That's what our client needed. One of the big reasons why they wanted to outsource was because they needed access to top-quality RCM specialists. Through our recruiting process and continuous development courses, we were able to build a team of highly-trained specialists for them.
Since the start of their partnership with Infinit-O, this dedicated team has grown ten times its original size. The same team now performs at least 12 functions across four departments for Home Health Service, including vital processes central to the client’s core business.
Myth #3: Outsourcing is Costly
Truth: Of course, any company looking to build a team, either internally or outsourcing, will need to pay for it. The difference is the tremendous labor savings cost that can be achieved by outsourcing with the right partner. In the used case, the client saved 70% by placing building the team with Infinit-O! In addition, they experienced fewer billing and transcribing errors and reduced processing time, making it more cost-effective yet high-quality, resulting in additional savings.
Misconceptions will always pop up in any industry, particularly in outsourcing, but as long as we collaborate to deliver great results, we’ll continue dispelling those myths.
- Truths Outweigh Myths: Outsourcing has always proven to be a beneficial strategy to improve business operations, especially in the healthcare industry.
- Great for Companies at Every Stage: Startups and SMEs alike can successfully outsource many of their basic and strategic business functions.
- Scaling Support: Any business can start with a small or large team, but the key is finding a partner who can scale with them.
Infinit-O builds great teams for our clients! We are a trusted healthcare solutions partner that can help you build and operate a dedicated team of well-trained healthcare & RCM professionals specifically designed for your unique needs, with cost savings of up to 70%. We can help you meet your goals, whether they be growth, better productivity or simply bottom line cost savings. With access to excellent healthcare talent who use cutting-edge technology, we provide some of the best strategic solutions for your business. We are ISO-certified, HIPAA- and GDPR-compliant, so your company and patient data are safe with us.