OutsourcingHealthcare

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School

American Sentinel University *

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520

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Health Science

Date

Apr 3, 2024

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docx

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Uploaded by mizpebbles

Running head: OUTSOURCING HEALTHCARE 1 Outsourcing Healthcare American Sentinel University HCA520

OUTSOURCING HEALTHCARE 2 Outsourcing Healthcare Abstract Outsourcing has become the healthcare systems most talked about topic. In the supply chain management of healthcare organizations, outsourcing decisions have specific distinctiveness and outcomes. One of the strongest areas of growth by percentage in hospitals was in accounts receivable outsourcing, where receivable contractors reported more than a 250% increase in clients, and reimbursement firms reported a nearly 150% gain in business ("Outsourcing in Healthcare," n.d., para. 1). This paper will discuss the positive and negative effects of hospital outsourcing. Keywords: Outsourcing, Reimbursement, Healthcare Organizations

OUTSOURCING HEALTHCARE 3 Introduction Hospital leaders are exploring ways to outsource services to free up resources, to increase savings on needed service lines that have a great impact on patient care and reimbursement. Areas that are most commonly outsourced are housekeeping, dietary, radiology services, telemedicine, that includes stroke services, as well as coding, billing and collections. It is stated that outsourcing of these services would bring a savings to a facility that would help to meet the needed 24 percent reduction in costs by 2022 in order to break even (Lagasse, 2018, para. 2) Prevalence of Outsourcing Approximately 80 percent of hospitals leaders in a new Black Book survey said they were vetting or considering outsourcing full revenue cycle management by 2019 (LaPointe, 2018, para. 1). The demand for revenue cycle management outsourcing has greatly risen. Just 18 percent of hospitals executed or implemented a full revenue cycle management outsourcing project in 2018, compared to only 11 percent three years prior. (LaPointe, 2018, para. 3). Increasingly more hospitals and inpatient organizations may look to a third-party vendor to perform full revenue cycle management functions by 2019. Demand for full revenue cycle management outsourcing increased 86 percent between 2015 and 2019. Demand for enterprise resource planning (ERP) outsourcing increased at a similar pace, the survey added. Ninety-four percent of hospital leaders are vetting or considering ERP outsourcing in 2019, accounting for an 85 percent boost in demand since 2015.

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