RCM Value Added: Outsourcing a
Team of Patient Support Services

RCM Value Added: Outsourcing a Team of Patient Support Services

RCM plays an integral role in improving the healthcare delivery system, ease manual labor, and lighten the administrative load being carried by the healthcare providers. With the increase in workload demands and a significant decrease in healthcare workforce and resources, medical

professionals need the back-up support they can get from RCM.

Patient Support Photo

Patient Support Services Sub Functions

One of the 3 stages of RCM is Patient Support Services wherein it specializes and primarily focuses on providing comprehensive healthcare support to patients. This team entails 3 sub functions:

1. Patient Scheduling and Registration

Patient Concierge Team: Link between clinical and nonclinical needs of the patient through ensuring that any form inquiries are addressed, history taking are accounted for, each patient is assigned to a physician.
Patient Scheduling and Registration

Common Pain Points:

Overburdened the Healthcare System

Unmanaged Patient Inquiries

Loss of Productivity from your Healthcare Team

Benefits of Outsourcing a Team of Patient Concierge

Benefits Check

Decrease Patient Wait Time

An outsourced team of patient concierge allows your core healthcare members to focus on patient and treatment related responsibilities because calls, emails, and other forms of inquiries will be addressed by this dedicated team solely responding to their concerns.

With a trusted partner you can get better results for significantly less cost of up to 70% cost savings – freeing up funds for use elsewhere.

Benefits Check

Encourages Patient-Centered Care

Outsourcing your patient concierge team makes every appointment more efficient and encourages building a better patient relationship. And having a dedicated team of patient concierge during surge of healthcare demand enables your medical staff to focus on patient-centered duties.

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Ensures Patient Satisfaction

In a survey, it states that 99% of patients agree that their satisfaction increased because of the hospital’s concierge service. And since a team of patient concierges manage the non-clinical responsibilities, the benefits are four-folds:

  • high patient satisfaction
  • streamlined patient flow
  • clinical efficiency
  • decrease in clinician burnout

2. Documentation of Visits

Data Entry Specialist Team: Primary function is to properly enter any missing patient record or data that healthcare providers need to diagnose and treat the patient. They also attempt to recover missing data through using an internal database.

Ultimately, it is focused on two things:

  1. improving the quality and value of clinical documentation to improve patient care
  2. maximizing revenue and reducing medical coding and billing errors
Documentation of Visits

Common Pain Points:

Incomplete and inaccurate documentation on patient record

Inaccurate codes that may result in denied claims

Access to Data Entry Specialist experts

Benefits of Outsourcing a Team Data Entry Specialist

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Employs ICD-10 and CPT Certified Experts

Diagnosis codes play an important part in clinical documentation. Your outsourced Data Entry Teams will ensure capturing of accurate diagnosis codes for billing purposes. They have extensive and current knowledge of these codes given that they have to undergo an annual recertification exam to keep their credentials. This is especially useful in the process of improving clinical documentation.

Benefits Check

They have the necessary license and certifications

Outsourcing your patient concierge team makes every appointment more efficient and encourages building a better patient relationship. And having a dedicated team of patient concierge during surge of healthcare demand enables your medical staff to focus on patient-centered duties.

3. Insurance Verification

Insurance Verification Specialist Team: They play a major role in the hospital’s claims denial management program. Basically, health insurance verification is the process of checking a patient’s active coverage with an insurance company to verify insurance claims eligibility.

Insurance Verification

Common Pain Points:

Outdated or invalid patient information

High labor cost

Access to certified Insurance Verification Specialist

Benefits of Outsourcing a Team of Insurance Verification Specialist

Benefits Check

Minimizes Denial and Maximizes Revenue

A team of Insurance Verification Specialists play a big role in completing paperwork and verifying patient information with the insurance carrier to maximize reimbursement and facilitate revenue cycle improvement.

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Helps Avoid Business Risks

Insurance Verification Specialists help the business to know immediately whether the insurance provider can pay the respective charge for the patient’s treatment or not. In return, they can inform the patient with the treatment plan and payment criteria beforehand and avoid any confusion on their end and unpaid treatments. 

Benefits Check

Simplifies Claims Process

These days healthcare billing companies make sure that the verification is performed and completed in a simple yet hassle-free manner which allows medical professionals to then work with ease and stop worrying about the payments if you have a team of dedicated Insurance Verification Specialists in your organization.

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Cost Comparison per Month:

In-house FTE (full time employee) vs. Infinit-O FTE

Job TitleCost per In-house FTE ($ rate)Cost per Infinit-O FTE
($ rate)
% Savings per Month
Patient Concierge$ 4,300.03$ 1,700.0060%
Data Entry Specialist$ 4,221.18$ 1,600.0062%
Insurance Verification Specialist$ 4,398.59$ 1,600.0064%
*All costs are based on estimated rates and typical fully burdened costs.

For other roles that you wish to add, our Cost Savings Calculator can help you in projecting potential operational cost reductions.

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Cost Comparison per Year pie chart GIF

Cost Comparison per Year:

In-house FTE (full time employee) vs. Infinit-O FTE

Job TitleNo. of team membersEstimated Annual Cost Savings
Patient Concierge1$ 31,200.38
Data Entry Specialist1$ 31,454.21
Insurance Verification Specialist1$ 33,583.10
*All costs are based on estimated rates and typical fully burdened costs.

For other roles that you wish to add, our Cost Savings Calculator can help you in projecting potential operational cost reductions.

NOTES:

  1. Cost per full-time employees at Infinit-O dedicated to your company. Estimated total cost (fully-burdened) including total personnel costs, all overheads including workstation, software, and rentals. These are all-in costs, there are no hidden fees and we do not charge separate set-up fees.
  2. After further identifying your business requirements we can adjust the plans, match you to the right talent, and build you a great team that fits according to your evolving business needs and goals.
Success-Stories

Success Stories

To successfully grow your business and achieve your goals, it starts with proper planning and investing in the right resources. The following companies in the HC industry were able to identify their unique needs and sought help with the right partner who exactly knows how to address their demands. 

We’ve gathered the following success stories so you can learn more about their outsourcing journey and how they were able to achieve their business objectives with the help of the right partner.

Infinit-O has been in the outsourcing industry for 15 years, creating long lasting partnerships and endless opportunities to small and medium businesses across the Healthcare, Finance and Accounting, Research and Development, and Customer Service industries.

Our vision is to help small and medium sized companies to grow and prosper by enabling them to experience the full benefits of partnering with an outsourcing company.

We build great teams for our partners through understanding their unique needs in order to help them achieve their business goals and the vision they have for their company.  We have rendered a strong combination of business consultancy, process optimization, and outsourced services; all utilizing the latest technology to provide excellent value for our clients.

Get to know us more through these channels:

Infinit-O Information Security

We share 15 years of experience in navigating data privacy laws and regulations. We guarantee strict compliance from the best information security practices with up to date cybersecurity certifications because your data is in our care. At Infinit-O, we not only value your business but acknowledge the importance of information security especially in this digital age. To overcome customary challenges and build a better cybersecurity system that ultimately protects and secures data, we are certified and compliant with:

Learn more about the full list of our Information Security bundle in this Whitepaper.

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Infinit-O Key Benefits

Having an extensive and profound expertise in the finance and accounting industry, we’re here to help you build a great RCM team for your unique needs and promise the following key benefits:

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Let’s begin your growth success story.

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