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OUTSOURCING: SEEKING PEAKS of MEDICAL IN INDIA

Author: Suman Thakur

Outsourcing in a business practice is meant by hiring third-party companies (professionals, service providers and other companies) to create goods and provide with services that were traditionally accomplished endogenously by the company’s own staff. This helps the companies to focus on the primary tasks and not on the bits and pieces.

In Medical, outsourcing is used by institutions like nursing homes, hospitals, and healthcare providers which supply them with nursing staff, healthcare technicians, physicians and other service providers.

India is a massively populated and developing country, but unfortunately, a house of poor health conditions. With the increasing rate of medical conditions, the demand for outsourcing is on a boom too.

So let’s get into the reasons behind the rise of medical outsourcing in india.

Why is the Medical Outsourcing Company rising in India ?

The healthcare sector is the most occupied and demanding occupation in a developing country like India. Day-by-day increasing medical cases (like Covid-19 ) delivers a lot of pressure on this field, which might not be handled without outsourcing. Therefore,as a largest Pharmaceutical hub, India is also a leading Outsourcing hub for Medicine and Healthcare services in Asia. This helps them with strategizing a better way to cope up with challenges that they face on a daily basis.

Services that are provided by medical outsourcing:

• Medical claims processing
• Records of medication
• Medical billing
• Records of hospital
• Legal teams
• Medical coding
• Medical data entry roles
• Accounts and billing details
• Patient records
• Healthcare revenue cycle management

Benefits of medical outsourcing companies in India

• Cost-saving: Healthcare outsourcing functions as a cost-effective solution, due to which hospitals can focus on improving patient health only. This reduces the cost of hiring and training the workforce.
• Skilled workforce: India is an ocean of highly skilled and talented workforce. Hence, they provide a variety of functions, facilities and service providers to the other countries as well.
• Enhanced productivity: Outsourcing can also help in improvising the efficiency by outsource non-core function, hence ensuring productivity.
• Increased employment: Even though India has skilled people, sometimes they are unaware of their talents. But outsourcing helps them to show their talent in the place needed.
• Lowers amount of error and risk: Legal formalities and rules have an immediate amount of risk. Outsourcing services help the beneficiary to focus on the major tasks and leave the rest on the outsourcing companies.

Top 5 outsourcing companies in india

1. Fusion BPO Services – LinkedIn
2. WNS Global Services – Wikipedia
3. nThrive Global Solutions Overview and Company Profile
4. VSynergize
5. Access Healthcare: Revenue cycle, medical billing, medical coding

Conclusion

By all the above points we can conclude that medical outsourcing is surely established as one of the biggest opportunities seeked by professionals. Share your thoughts on this.

Reference:

• Medical outsourcing – Wikipedia
• Impact on Indian economy with healthcare & it
• Top 20 medical billing companies in India | Outsource Accelerator 6 Benefits of Outsourcing Healthcare BPO Services
• Outsourcing – The future in healthcare – IndiaMedToday Outsourcing Healthcare Services: 9 Pros + Cons
• Hospital Outsourcing: The Opportunities And Challenges – Forbes Benefits of outsourcing to India – SBL Corp