Is It Time to Outsource Your RCM?

SAN DIEGO - Sept. 9, 2024 - PRLog -- If you're considering outsourcing your Revenue Cycle Management, you're likely looking for ways to enhance efficiency and cut costs without compromising on the quality of patient care.

But when is the right moment to make this shift?

In this article, we turn to Ryan Holbrook and Richard Lee, co-founders of DME Service Solutions – sharing their insights on when and why outsourcing RCM might be the right move.

What drives a healthcare business to outsource RCM?

Ryan Holbrook: Most businesses initially reach out to us with the primary aim of cutting costs. It's a compelling motivator, especially in a sector where margins can be unstable.

Richard Lee: Once they come onboard, it's not uncommon for us to uncover inefficiencies and areas where we can enhance performance. Our clients often discover that we cannot only meet but significantly outperform their in-house capabilities swiftly.

What are some common concerns about outsourcing RCM, and how do you address them?

RH: One common concern is whether offshoring RCM might impact the quality of work due to the complexity of the tasks. In some cases, this means bringing in employees with around 5 years of experience, or even hiring supervisors to perform rank-and-file work.

Can outsourcing RCM scale with a growing business?

RL: Yes. One of the key benefits of outsourcing is that as your business grows, your partner grows with you. They adapt their services to meet your changing needs, so you don't have to worry about hiring more staff or expanding infrastructure.

What should businesses look for in an outsourcing partner?

RH: Beyond expertise and technology, it's important to consider how an outsourcing partner handles change management and integration. A good partner will address integration issues and adapt to your business culture and workflows.

How quickly can a business see results after outsourcing?

RH: The timeline for seeing results can vary, but we often begin to observe goal attainment as early as within the first month.

RL: In one instance, we made significant improvements in sales within just a week, with our team outperforming in-house operations. This level of performance is driven by the highly experienced agents we hire, who are essentially "plug and play".

When is the right time to outsource RCM?

RL: The right time to outsource is when your current processes are becoming a bottleneck.  Also, if your revenue isn't meeting expectations despite increased effort, outsourcing can provide the necessary expertise to turn things around.

What tips do you have for businesses considering outsourcing RCM?

RL: Clear communication is key. Define expectations, set up regular check-ins, and make sure there's a straightforward way to address any issues that come up.

RH: Do your research. It's important to find providers with proven track record in the healthcare.

Visit https://dmeserve.com