Top 8 Leading US Healthcare Outsourcing Firms: 2024 Rankings
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The Booming Landscape of Healthcare Outsourcing in the US
The healthcare outsourcing industry has exploded in recent years, becoming a pillar of efficiency and innovation within the healthcare sector. Statistical data reveals how rapidly this field is expanding: the global healthcare BPO market is projected to reach a staggering $417 billion by 2028, exhibiting a CAGR of 11% from 2021 to 2028.
Dynamic forces are propelling this growth. Healthcare organizations increasingly lean on external business process outsourcing (BPO) providers to optimize operations and enhance patient care. There are multifaceted reasons healthcare outsourcing companies are becoming indispensable partners. Outsourcing enables healthcare systems to channel resources towards core clinical functions, leveraging external expertise for vital non-clinical tasks. This allows healthcare providers to focus on patient-centric care while accessing specialized skills from dedicated healthcare BPO companies.
As healthcare demands become complex, outsourcing has become instrumental in supporting stressed healthcare infrastructure. Partnering with experienced healthcare outsourcing company providers allows healthcare organizations to tap into industry-honed best practices for improved efficiency. External teams provide extra bandwidth for workflows, enhancing responsiveness across units. The allure is clear – outsourcing delivers flexibility, cost advantages, process improvements, and technology gains.
This sets the stage to explore the top players leading innovation in healthcare outsourcing. The following sections provide an overview of premier healthcare business process outsourcing companies in the US healthcare landscape.
Top 8 Healthcare Outsourcing Companies in the US
The US is home to diverse healthcare outsourcing leaders catering to the needs of healthcare providers nationwide. Here is a curated list of elite business process outsourcing companies that healthcare organizations rely on.
BruntWork is an outsourcing company that specializes in remote work services. They provide various services, including customer support, digital marketing, and IT support, catering to various business needs. The company operates globally, with a significant presence in the Philippines, Colombia, and Eastern Europe, focusing on offering cost-effective and scalable solutions for businesses.
In terms of performance, BruntWork has achieved a notable 181% increase in revenue, indicating strong business growth. They are efficient in scaling operations and capable of assembling large teams quickly, as evidenced by their ability to set up 30-agent teams in two weeks. BruntWork also excels in rapidly expanding customer support capabilities for clients, such as increasing a grocery chain’s support team fourfold in just 30 days.
A dominant force within consulting and technology services, Accenture brings formidable experience in driving innovation for healthcare clients. Accenture provides various healthcare BPO services spanning patient access, health plan operations, medical coding, finance and accounting, supply chain orchestration, and clinical delivery network optimization.
With end-to-end intelligent automation capabilities, Accenture enables healthcare organizations to reshape experiences via digitization, boosting productivity and cost efficiency. Its global delivery network underpins a consistent framework for healthcare transformations.
3. WNS Global Services
WNS Global Services offers various outsourcing solutions for payers, providers, and pharmaceutical enterprises. With delivery locations worldwide, WNS Global Services provides round-the-clock support enabled by a global talent pool of over 50,000 domain experts and advanced technologies.
It serves diverse healthcare sub-verticals, including insurance, hospitals, medical technology, biopharmaceuticals, contract research organizations, clinical research organizations, and contract sales organizations. WNS Global Services enables clients to enhance speed-to-market, drive efficiencies, boost patient engagement, and enable analytics-based decision-making.
4. Octopus Tech Solutions
Octopus Tech Solutions has rapidly emerged as a leading healthcare outsourcing company. It exclusively focuses on healthcare, providing specialized outsourcing services across the value chain. They offer customizable solutions for medical billing, medical coding, transcription, health information management, patient scheduling, revenue cycle management, and IT services.
Central to its value proposition are proprietary platforms integrating advanced technologies like robotic process automation, natural language processing, and machine learning. This enables improved turnaround times, accuracy, and cost savings. With compliance standards like HIPAA security, Octopus Tech Solutions emphasizes patient data integrity alongside quality and efficiency.
5. Tri Source International
Tri Source International delivers [healthcare business process outsourcing] services driven by customer-centricity and a spirit of partnership. Its solutions portfolio is centered on enhancing patient experiences via back-office and front-office support. Services span health plan operations, customer engagement, medical coding, fulfillment, payment integrity, data analytics, and robotic process automation.
Positioning itself as an extension of clients’ teams, Tri Source International combines domain expertise, smart technologies, and security protocols to unlock value. Tri Source International offers flexibility tailored to unique needs with onshore, offshore, and nearshore delivery capabilities. Omni-channel patient support solutions represent a key specialty targeted at improving consumerism and loyalty.
A widely respected brand within global outsourcing, Cognizant brings extensive healthcare expertise spanning over two decades. It provides specialized healthcare business process solutions to drive operational excellence across the ecosystem. Core offerings include revenue cycle management, health plan operations, digital health solutions, healthcare interoperability, data science, and intelligent process automation.
Cognizant enables payers, providers, and life sciences organizations to optimize costs, boost user experiences, and enhance patient care quality. It combines domain consulting, digital engineering expertise, proprietary platforms, and a global delivery model powered by over 300,000 associates. Cognizant helps global 2000 healthcare enterprises transform with future-ready capabilities.
7. Infinit-O Global
Infinit-O markets itself as a next-generation healthcare outsourcing provider infusing solutions with adaptability and innovation. It provides specialized healthcare outsourcing across provider revenue cycle management, healthcare analytics, medical coding, health information management, and front-end revenue cycle operations. Infinit-O brings operational agility to clients via onshore, offshore, and nearshore delivery competencies.
Central to Infinit-O’s value proposition is proprietary technology delivering improved automation, real-time reporting, and advanced analytics. Examples include robotic process automation, optical character recognition, and speech-enabled AI. This technology orientation enables enhanced efficiencies, better cash flows, and client decision enablement. Infinit-O serves healthcare organizations seeking quality and innovation alongside cost arbitrage.
8. Global Virtuoso, Inc
Global Virtuoso, Inc focuses exclusively on offering outsourced solutions for healthcare revenue cycle management and IT services. It provides end-to-end RCM support spanning eligibility verification, medical authorization, AR follow-up, payment posting, denial management, medical coding, and charge capture optimization. Global Virtuoso also offers EHR consulting, cybersecurity services, cloud migration, and medical IT staffing.
With over a decade of experience, Global Virtuoso serves hospitals, health systems, and physician groups seeking elevated efficiency in revenue cycle and IT functions. It combines onshore and offshore delivery models to provide round-the-clock operational support. Expertise across core healthcare subdomains enables Global Virtuoso to deliver specialized services to reduce costs and improve revenue realization.
Key Services Offered by Healthcare BPO Companies
Leading healthcare outsourcing companies assist healthcare providers with various critical business processes. Some of the most commonly outsourced services include the following:
Medical Billing and Coding: Streamlining Financial Operations
Medical billing and coding is one of the most frequently outsourced healthcare functions. Healthcare business process outsourcing companies leverage expertise and advanced technologies to deliver accurate coding, optimized reimbursement rates, and streamlined accounts receivable.
This enhances revenue cycles so that providers get paid faster. It also minimizes costly coding errors and relieves the administrative burden on healthcare organizations.
Patient Care Management Services
End-to-end care management is another key offering of healthcare BPOs. Companies provide patient scheduling and reminders to ensure smooth appointments. They also handle patient queries and offer education regarding diagnoses, treatment plans, medications, etc.
Such services enhance patients’ overall experience while giving healthcare systems more bandwidth to focus on delivering medical care.
Innovative IT Solutions for Healthcare
Leading healthcare outsourcing companies develop and implement cutting-edge health IT solutions to automate workflows. These include AI-powered systems for robotic process automation, big data analytics, patient portals, real-time information exchange platforms, and more.
These technologies lead to increased efficiency, reduced costs, proactive risk management, and elevated patient experiences.
Compliance and Risk Management Services
Navigating the complex regulatory policies in healthcare requires extensive legal and compliance expertise. Top healthcare BPO companies have extensive experience guiding clients through quality reporting requirements, HIPAA regulations, fraud prevention, and risk management.
They offer compliance auditing, accurate documentation, and real-time monitoring to minimize violations and mitigate risks. This ensures smooth survey readiness while enabling healthcare facilities to provide better care.
Customer Support and Outreach
Maintaining robust communication channels and prompt issue resolution is pivotal for patient trust and loyalty. Outsourcing company partners adeptly manage healthcare customer service operations spanning multi-channel interactions, feedback surveys, social media, and health awareness campaigns.
This amplifies community outreach efforts while freeing doctors and nurses to dedicate more time to patients.
The growing adoption of outsourcing is transforming workflows in healthcare organizations across the US. As BPO partners continue innovating with advanced solutions for cost efficiency, compliance, patient experiences, and beyond, their role in driving the future of healthcare will only continue expanding.
Benefits of Healthcare Outsourcing
Outsourcing various non-core functions to specialized healthcare outsourcing company partners delivers manifold benefits.
Enhanced Operational Efficiency
By outsourcing routine administrative tasks, hospitals and clinics can optimize staff time towards delivering better patient care. Leaner operations also lead to significant cost savings. Business outsourcing companies’ healthcare clients leverage process improvements and automation to turn around critical functions faster. This directly improves patient experience and outcomes.
Access to Advanced Technologies
Innovation is the key to transformation in healthcare. Partnering with progressive healthcare BPO companies gives providers quicker access to the latest technologies. This includes solutions for robotic process automation, natural language processing, predictive analytics, and even blockchain.
Smaller hospitals can leverage these capabilities without extensive in-house IT infrastructure investments. Digital health solutions enhance everything from clinical systems interoperability to better patient engagement.
Focus on Core Healthcare Services
Every minute spent on administrative tasks takes physicians and nurses away from patient care. Top healthcare BPO companies manage vital non-clinical functions from medical billing and coding to complex insurance claims processing. This allows providers to dedicate more time to delivering quality care.
Challenges and Considerations in Healthcare Outsourcing
While outsourcing offers manifold benefits, healthcare organizations must address certain key considerations during implementation:
- Navigating Data Security Compliance: Data security is paramount in healthcare BPO, especially with rising cyber threats. Partnering with healthcare outsourcing companies well-versed in HIPAA and other data protection regulations is vital for securing patient health information.
- Addressing the Skills Gap: The healthcare industry faces a massive talent shortage across clinical and IT roles. Progressive healthcare outsourcing company partners invest heavily in training programs so clients can access skills on demand. Strategic partnerships also enable knowledge transfer for more effective change management.
- Ensuring Continuity and Quality of Care: Reputable healthcare business process outsourcing companies implement stringent protocols, advanced technologies, and extensive training to ensure high quality of outsourced healthcare services. Continuity of care is maintained through seamless integration of outsourced work with core in-house operations.
Healthcare outsourcing will continue its robust growth as more hospitals and physician groups leverage external partners to prepare for value-based reimbursements. Staying ahead of the curve through strategic outsourcing relationships is imperative for all players to thrive amidst the digital transformation sweeping the healthcare sector. Evaluating partners across metrics like domain expertise, data security protocols, and measurable outcomes will be the key to maximizing outsourcing benefits.