Trend will continue, the cost of healthcare in the US has been steadily increasing and to some projections by consultancy firms. This has lead to increasing acceptance of outsourcing by different hospitals and healthcare providers across the country. To the Information Technology, medical transcription, medical billing and medical coding outsourcing have been increasing in response to the need to reduce cost. In the healthcare cost on the rise, the New York based consultancy firm, Towers Watson projected an 8.2 percent increase in employer health care costs for 2011. The employees today are adjusting to historically lower than average merit pay increases, while at the same time facing higher health care contributions, copays and deductibles. This combination could adversely affect many employees and intensify the growing affordability crisis.
The Chicago based company estimates that it may be as much as 9 percent. In Chicago the projection is as high as 12.4 percent. The figures is the highest it’s been in five years. In a statement, by the Hewitt’s health care practice leader Ken Sperling stated that employers continue to struggle to balance the significant healthcare needs of an aging workforce with the economic realities of a difficult business environment. The report attributes the increase to an aging workforce, coupled with the increasing and in response healthcare providers and hospitals are struggling to maximize revenue while minimizing expenses in order to reduce the cost on consumers.
With AMN Healthcare services, one example is HEndrick Medical Center. The contract would result would result in, the lower bill reates and operational costs reduced liability and mitigated insurance risks and increased compliance with clinical standards. The outsourcers in the meantime are expanding into the healthcare space in order to take advantage of the opportunity. The healthcare providers are looking for solutions to increase net cash, achieve revenue cycle performance improvement enhance operational efficiency and improve overall patient patient and physician satisfaction. The company was recently acquired by NCO Group, this is along with the acquisition that also released a new end to end healthcare revenue cycle management solution.
The another company moving into the healthcare space is Tricom India, who is currently acquiring US healthcare service providers GTESS Corporation. The news announced that after Tricom India announced that it is recently secured a five year contract from a US based healthcare firm for $10 million. The Conifer Health Solutions also announced an acquisition. The company is acquiring medihealth outsourcing in order to strengthen its position in the healthcare outsourcing space.
REFERENCE:
http://www.blog.infinit-o.com/rising-healthcare-costs-outsourcing/
