How Outsourcing Saves You Time and Money
A growing trend among companies, hospitals, and non-profit organizations is the use of outsourcing. Whether it’s customer service, data mining, network security, or automation services, the benefits of outsourcing have outgrown our expectations. If you were to ask any organization why they chose to outsource, you will probably get one of two answers, it saved them time or money… or both. In fact, Deloitte Consulting reported that 65% of companies utilized outsourcing due to lower costs. For a practice short on resources, outsourcing can provide much needed salvation.
Where Are the Costs Cut?
BPO (Business Process Outsourcing) can help your practice with contract processing, patient communications, and even payroll. Costs can be cut when new employees are introduced to your organization. HR operations are costly, which is one reason many places hold off on acquiring new, much-needed talent. Outsourcing HR operations means that your management team can spend more time training your new employee instead of trying to balance all the paperwork and processes associated with hiring.
Speaking of training, outsourcing can also help train your staff in new software or systems used in your practice. Again, with expert training being handled by a trusted partner, your management can feel confident about the employee’s ability to handle the change. Not only can outsourcing train your employees to use new software, but it can also provide the means to develop and maintain that software for you.
Software development, along with IT services, are extremely popular with companies looking to outsource these days. Patient records, health insurance information, and other important data can require custom software or systems that your in-house IT team is not capable, or doesn’t have the time, to create. Security is also a huge factor in outsourcing these operations, especially in the medical industry. A recent survey of 1,300 physicians found that 83% had experienced some form of cyber attack. It’s because of this that many practices have outsourced their data storage and security operations for fear of a data breach that could result in theft or even lawsuits.
Time is Money
The phrase is all-too familiar, but the fact remains; time spent doing tasks your employees weren’t hired for means time away from their actual job. This ensures that your employees aren’t feeling taken advantage of, which results in stress, and eventually resignation. You have a talented staff, and the addition of an outsourcing partner provides them professional support and lifts a huge weight off your practice. If you feel that your staff’s time is being taken up by menial tasks, or that your business is throwing away thousands attempting BPO on its own, then it’s time you start researching outsourcing solutions.
Originally posted at Practice Management
