(Part 1 of 2 series)
Does finding innovative ways to succeed in the business of healthcare feel like squeezing blood from a stone? You’re not alone. Across the broad landscape of today’s healthcare industry, healthcare companies are being asked to do more with less. Business leaders are searching the globe for answers and discovering them in new places.
Since 2020, offshoring has become widely embraced as an answer to the staffing shortages and customer service demands placed on healthcare organizations. “Rightshoring” (combining in-country and offshore resources to create an ideal, balanced and compliant delivery strategy) is now a mainstay of healthcare businesses.
By outsourcing select operations, healthcare businesses can relieve pressure on their budgets and their employees, optimize costs and overhead, improve the customer experience and scale solutions. Rightshoring is a valid and necessary tactic for healthcare companies looking to increase financial stability without sacrificing patient health.
With so many clear business advantages and benefits, the question is no longer, “Will you rightshore?” The question is, “When?”
Cost Optimization
Rightshoring provides economic relief for healthcare companies looking to raise their bottom line. Outsourcing and offshoring help businesses combat rising costs of labor.
Rightshored services offer a 40% to 60% cost reduction potential, with a higher talent ROI. By outsourcing business services or other non-core business processes or personnel, healthcare companies can provide consumers and members equitable service quality for nearly half the cost, while paying local employees above market value.
Rightshoring means savings
Carenet Health offshoring services can reduce labor costs by 40% to 60% compared to in-country
Access to Talent
Rightshoring gives healthcare organizations access to a larger talent pool. Whereas staffing shortages in the U.S. have plagued the industry, offshore staffing gives healthcare companies a direct line to an abundance of highly qualified talent.
Improved Customer Experience
Consumers also benefit from interfacing with offshore Health Advisors. Because of low offshore attrition rates, Health Advisors become—and remain—experts in the healthcare journey. Seasoned, talented representatives with English fluency are available to help members schedule appointments, fill prescriptions, receive health guidance and resolve claims issues.
Carenet is a healthcare-only company, and our offshore team members in the Philippines and Trinidad and Tobago are 100% dedicated to the healthcare journey. Our employees understand the integrated steps that make up the healthcare consumer’s experience, from benefits education to complex scheduling. Our career Health Advisors are trained to address consumers with empathy and understanding.
Scalability
Offshore services can help your business grow at scale.
Relying on rightshored labor liberates financial and personnel resources that your organization can re-invest into the onshore services or business processes that can benefit most. If your business operations require automated consumer education, for example, or the development of member self-service experiences to combat increased demands on member service representatives during open enrollment, rightshoring business services and claims processing can help you do that. Freeing up your administrative team by rightshoring scheduling and appointment reminders will allow your employees to spend less time on the phone and more time helping patients, increasing patient loyalty and expanding your practice.
Recaptured funds drawn from the reduced labor costs associated with rightshore resources enable your organization to focus on—and invest in—key growth areas.
Carenet Health Rightshoring Services
Using our consultative and collaborative approach generated from more than 25 years of helping healthcare companies like yours reach business, financial and consumer experience goals, we’ll work with you to:
- Identify non-core business operations to outsource
- Match your need to an offshore location
- Find opportunities for ongoing support
- Optimize costs, advance growth and empower your consumers
Remember, geo-diversity is the future for successful healthcare businesses. It’s not too late to get started now.
Carenet’s offshoring location in the Philippines, for example, employs over 370 trained professionals dedicated to the healthcare consumer journey. Attrition rates of only 4% mean that healthcare companies get access to talented, experienced employees.
Download our free playbook, The Rightshoring Solution: A Playbook for Healthcare Companies, to learn more about how to start rightshoring. Or schedule a tour of Carenet Health’s state-of-the-art offshore facilities today!
