How Payer Organizations Benefit from BPaaS

Payer Organizations and BPaaS for Task Management

More businesses are steadily moving towards BPaaS for support. According to MarketsandMarkets, the 2016 BPaaS market of 36.88 billion dollars is expected to reach 68.76 billion by 2022— that’s over a 30 billion dollar growth in 6 years. Particularly in the healthcare industry, constant compliance and regulation demands could prompt more organizations to outsource aspects of their operations in order to keep up.

Groups like independent practitioner associations (IPAs), managed service organizations (MSOs), and accountable care organizations (ACOs) have a lot to gain from BPaaS. After all, outsourcing helps relieve the workload that usually arises from organizational growth, restructuring, and continuous operational demands. For example, MedVision’s BPaaS helps organizations deal with the following task management challenges:

• Health plan encounters management
• Membership and eligibility workload
• Provider records and reimbursement processes
• Data analytics and reporting
• Authorization, referrals, and claims workflow

Given these points, organizations that offer BPaaS can help you simplify your internal processes. BPaaS providers like MedVision allow you to store and process your operational data through an online management platform. By having an online storage and processing system, you can potentially reduce in-house costs that come from manual workload, data storage requirements, paper trails, and more.

Benefits of BPaaS for Task Management

The right technology and support can empower businesses in the coming years. According to WEF, businesses will rely on advanced computers for 60 percent of their data storage and processing by 2022. This means that if you want to stay competitive, you either need to have the technology or find service providers who have the technology for you. 

1. Focus on Core Processes

As good as it may seem, organizational growth also has its drawbacks. When you’re expanding your operations, additional in-house processes can take up a lot of resources. For example, as your network grows, you’ll also need larger data storage capacities, software upgrades, diverse communication channels, and more staff.

More growth means more diverse in-house operations that can distract your core business processes. When your business revolves around claims processing, having extra electronic data interchange (EDI) issues is the last thing your organization needs.

Luckily, with the right BPaaS provider, you can reduce your in-house workload and focus your resources on more crucial processes. Additionally, relying on BPaaS can help your organization to:

• reduce the chances of spreading out your staff and technology to accommodate new clients;
• focus your current resources on the core processes of your organization;
• avoid the software demands and training requirements that come with new processes;
• free up your time while your BPaaS provider takes care of your other processes; and
• reduce workload, increase productivity, and focus more on tasks that matter most.

2. Streamline Task Management Processes

For organizations like ACOs, IPAs, and MSOs, effective task management can lead to smoother operational processes. Challenges like managing health plan encounters, membership eligibility reports, and updating provider records are some of the things where BPaaS can be very helpful.

• Encounters Management. When it comes to encounters management, the right support can help you ensure that requirements are met alongside timely network performance when it comes to submitting health plans.

• Membership Management. The right BPaaS provider can handle proper member enrollment, eligibility details, capitation files, and other member-related tasks for you.

• Provider Management. BPaaS providers with advanced tools can ensure that you deliver accurate reimbursements to providers when updating your contracts and practitioner records.

• Health Plan Management. Worry less about setting up health plan arrangements, reimbursement rates, and other health-plan-related processes.

With all things considered, payer organizations and similar groups have a lot to gain from relying on BPaaS for task management.

3. Reporting and Compliance

With a comprehensive BPaaS provider like MedVision, you can guarantee a wide range of auditing, reporting, and compliance assistance. 

• Ensure proper compliance for essential regulatory requirements
• Generate timely reports for claims, reimbursements, authorizations, and utilizations
• Send out accurate report formats to health plans in your network
• Accommodate custom format requirements for specific organizations

4. Smoother Workflow

Relying on BPaaS for task management processes can be a lot easier because of remote management. Imagine the ease of operations when you have processes that you can manage in a remote platform.

For example, MedVision BPaaS utilizes an online management platform called QuickCap 7 (QC7). This system allows for easy access to essential information and quick data uploads and downloads whenever necessary. Additionally, QC7 also has configurable features that allow for automated authorization routings and claims adjudication.

The right platform and service provider can definitely help your organization streamline your workflow. Whether you’re facing current challenges or looking to expand your operations, having the right support can help you achieve your goals.

Final Thoughts

The growing market for BPaaS could be the key to help healthcare organizations achieve their maximum potential. Whether you need task management help or operational support, BPaaS providers are there to help you. However, when it comes to health care processes, you need to find the right BPaaS provider for the job. After all, you need to make sure that your support system is fully capable of tackling every aspect of your business.

Luckily, MedVision’s BPaaS is primarily focused on organizations like IPAs, ACOs, MSOs, physician-hospital organizations (PHOs), third-party administrators (TPAs), and specialty networks, including physician healthcare organizations. In other words, MedVision has the services and solutions that you need to succeed in the health care payment environment.

MedVision’s BPaaS for Task Management

As a solutions provider, MedVision designs comprehensive healthcare solutions for payer organizations and delegated risk models within the healthcare industry. Additionally, MedVision also offers BPaaS services to help you keep up with any of your task management needs.

Whether you need help with encounters, member records, provider contracts, health plan agreements, or reporting, MedVision has the right tools for the job. With MedVision’s BPaaS, IPAs, PHOs, MSOs, ACOs, TPAs, and specialty networks can finally relieve some of their operational burdens and move forward with ease.

Explore Related Blogs