If you are still doubting the dependability of Remote Staffing and the Outsourcing industry, would you believe us if we told you that even in healthcare, assistance can be provided by remote service centers to a lot of patients around the world?
The onset of the pandemic has cemented the role of medical staff augmentation in the healthcare industry. Many firms realized the potential of Outsourcing to actually help them serve more patients.
Outsourcing is now a driving force in the reshaping of the Healthcare industry with its reliability and practicability in providing up-to-date medical assistance powered by data, technology, and artificial intelligence. A strategic practice emerging at the center of this revolution is Medical Outsourcing.
An emerging industry within business process outsourcing (BPO), it delivers a variety of services that can reinforce the healthcare system for the better.
In fact, the global hospital outsourcing market was valued at USD 270.9 billion in 2019, and it’s expected to grow at a compound annual growth rate (CAGR) of 6.8% from 2020 to 2023.
In this blog, we will give you five reasons why Medical Outsourcing is revolutionizing the Healthcare industry, exploring the benefits of outsourcing with insights into why the Philippines outsourcing sector has become a preferred choice.
It provides access to cutting-edge technologies, infrastructure and AI-driven solutions
The International Association of Outsourcing Professionals (IAOP) champions BPO companies as platforms of opportunity for healthcare providers to access advanced medical technologies and infrastructure.
Likewise, outsourcing to countries like the Philippines, known for its robust BPO industries and excellent back office support, offers cost-effective and efficient state-of-the-art medical equipment and software solutions. This, along with the reinforcement of AI-tools further provides cutting-edge technologies.
In a recent Gartner report, it was stated that data analytics and AI are integral to modern healthcare and outsourcing. Many healthcare institutions are starting to understand what business outsourcing is and how it can support evidence-based decision-making and predictive modeling for disease prevention.
It fuels medical technological innovations and improves R&D.
Medical Outsourcing enables a metamorphosis in the medical field as it promotes innovative thinking, and improves the capabilities of companies to amped-up their research and development capacity. It also fosters a collaborative and knowledge-sharing environment, as stated in a McKinsey report.
The continuous growth of outsourcing partnerships, as reported in a 2023 KPMG study, presents opportunities for research and development (R&D) in healthcare, as it offers laboratory facilities, and technologies that may not be readily available in-house like specialized equipment, research tools, or data analysis capabilities.
It advances remote monitoring, telemedicine and cybersecurity
As the onslaught of the pandemic altered our way of life and mindset, face-to-face processes like patient-doctor visits are now commonly facilitated online. That said, more people are now inclined to choose telemedicine services, as described in a study done by Busso (2022), its demand has soared to about 230%.
Similarly, offering medical services through the internet opens up a lot of risks, especially in terms of data privacy. The Cybersecurity and Infrastructure Security Agency of the US, emphasizes that as healthcare digitizes, cybersecurity and data protection become priorities, and business processing outsourcing companies can provide specialized expertise in securing sensitive healthcare data, implementing robust cybersecurity measures, and ensuring compliance with privacy regulations.
Similarly, according to Transparency Market Research in its recent analysis, the worldwide healthcare IT outsourcing market is anticipated to reach $61.2 billion by 2023.
It promotes integration and interoperability in the healthcare industry.
A Forbes report highlights that medical outsourcing can facilitate the integration and interoperability of healthcare technologies, as such solutions can assist in aligning disparate systems, streamlining workflows, and enhancing care coordination.
It also allows for standardizing processes, integrating technologies, consolidating data, ensuring compliance with interoperability standards, and fostering cross-organizational collaboration. These efforts can lead to more efficient and effective healthcare delivery, enhanced communication between providers, and better outcomes for patients.
It facilitates training and education.
According to a report by Blue Helion, outsourcing plays a significant role in providing training and education for healthcare professionals. With the rise of medical virtual assistants, Healthcare institutions can access training programs and knowledge transfer initiatives to help their teams better utilize advanced medical technologies.
This also means access to training resources, best practices, and expanded training capabilities through specialized trainers. It can also deliver cost-effective solutions, scalability, and flexibility for organizations to adapt to changing needs.
These are some of the reasons why Medical Outsourcing is paving the way for more developed healthcare systems and services for people around the world.
Whether you’re considering or exploring medical process outsourcing, the benefits are clear, as it provides cost savings, access to specialized skills, scalability, allows focus on core competencies, access to advanced technologies, risk mitigation, and promotes innovation.
However, as we embrace these advancements, the importance of upholding ethical and regulatory standards remains a priority. As the industry of Medical Outsourcing evolves, so does its commitment to compliance and improvement to serve both healthcare providers and patients.