Philippine Outsourcing Services

High staff attrition rate is one of the major challenges many companies are facing.  This cripples the operations of a company and therefore correspondingly affecting revenue.  The dilemma does not stop here.  Qualified employees are becoming a rarity as companies try their best to maintain these people or even try to poach them from their current employers.

After finding a qualified employee, there will always be a transition period during training.  As a result, though not as crippling as not having one, production is still affected during this period.  And from then on, employers can only hope that the newly-hired employee would be able to absorb everything as fast as possible as well as stay longer.

Now, these issues can be addressed by “outsourcing”.  The burden of closing the gap from the time a medical biller is lost to the time an employee completes training and being able to perform the assigned tasks is now the responsibility of the outsourcing provider. 

But take note, the location of the outsourcing providers plays a key role in the success of outsourcing these services.  

Why the Philippines then?

. . . . because of scalability.  The Philippines produces 380,000 graduates a year.  As of July 2007, the employment rate is at 92.2% where 33% worked for less than 40 hours a week only.  This 33% and the 7.8% unemployed Filipinos form a substantial pool for new jobs and positions.

. . . . because of quality.  Based on UNESCO’s Analyses of Literacy Data, the Philippines achieved 94% literacy for the year 2006.  In addition to this, the Philippines has a strong western affinity and is regarded as the third largest English-speaking country in the world.

. . . . because of turnaround time.  Because of the time difference, work assigned at the end of US business hours is processed immediately and claims are sent to insurance companies either immediately for electronic claims or at the start of the following day for paper claims.  Faster turnaround means faster reimbursement.

. . . . because of cost.  The competitive cost of living in the Philippines enabled outsourcing providers to price lower than their competitors.  This typically would result to 30%-50% cost savings enabling companies to invest on other areas such as business development, infrastructure and security. 

Though outsourcing medical billing services to the Philippines is slowly growing and has not reached its peak unlike information technology and the call center industry, nothing can stop the rise of this industry.  More and more medical service providers and medical billing service companies now experience the numerous benefits of outsourcing their medical billing tasks to the Philippines and the overall success this continually entails.