Monday, January 14, 2013

Healthcare BPO – Medical Coding, Billing and Transcription India 2012


The total value of the U.S. healthcare business process outsourcing market is about $38 billion, according to Sutherland. According to industry data, demand for healthcare outsourcing services has been growing at a pace of about 25-35 per cent every year over the last few years. Healthcare provider outsourcing has the highest growth rate of 31.9% from 2013 to 2018 because of the conversion from ICD-9 coding system to ICD-10 coding system to be implemented by October 2014 in the US. Provider outsourcing capabilities are Medical billing, Medical coding and Medical transcription. Medical Billing is the major process outsourced by the providers from the US market and Claims processing is the dominating outsourcing process for the Payor market. U.S. is the largest source of outsourcing, followed by Europe. The most preferred destination is India in payer and provider outsourcing. Philippines is an upcoming destination making its mark in payer and provider outsourcing. Medical Transcription is a US$ 18 billion industry growing at 15% every year and is expected to reach US$ 20-25 billion in next five years.

India has advantages when compared to the other outsourcing destinations such as has availability of high number of healthcare professionals, affordable cost of living, large patient pool, and decreased time and cost of recruitment. The skill sets for this sector demands graduates in Life Sciences with a specialization in biology, microbiology, physical therapy, biochemistry and nursing for the medical coding space. The data entry segment looks for not just typing skills but candidates with analytical abilities. The voice based assignments call for graduates with excellent communication skills.  India has now established itself as an outsourcing destination of choice for the medical coding work, which is a complicated process. Over the last two years, more and more of the in-patient coding work is being outsourced to India and is by far the most complex coding work. Medical Billing & Coding is the process of submitting and following up on claims to insurance companies in order to receive payment for services rendered by a healthcare provider. Medical transcription, also known as MT, is an allied health profession, which deals in the process of transcription, or converting voice-recorded reports as dictated by physicians or other healthcare professionals, into text format. (Source: Wikipedia)

Medical Coding and Billing have evolved into complex process due to the change from ICD-9 coding to ICD-10 coding mechanism which is much more detailed in its Code-sets, stresses the need for clinical documentation to be precise in order to get accurate payments. Many Providers also recognized the extent of revenue loss incurred due to poor documentation based on the past claims data and poor documentation also created problems during audits which led to revenue losses too. The next few years there is good opportunity for growth in this segment and large Indian players too are looking at this segment but this segment is predominantly dominated by small specialist players only. Medical Transcription outsourcing projects to India started nearly 15 years ago and many companies have been successful in servicing the US clients with the availability of the skilled talent pool and labor arbitrage as the cost is very less in India. Most of the Indian BPO vendors offer the medical coding and transcription services and are also looking to acquire companies in this segment as evident with M&A activity in Healthcare BPO segment.

22 comments:

Monica Sam said...

Medical billing and coding includes submitting claims to insurance companies or government run policies, such as Medicare, so that a hospital, doctor or healthcare provider can receive payment for services rendered to a patient. For the most part, a medical biller will work in an office building, clinic or billing department of a hospital out of the way of the public eye in most cases. A typical work week for this career consists of 40 hours, whether it is five eight-hour days or four, ten hour days. Medical Billing and Coding Salary

saravanarani yadhavan said...




Great thoughts you got there, believe I may possibly try just some of it throughout my daily life.







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MicroSourcing said...

MT is a tedious task that requires utmost accuracy. Very few medical groups can afford to have in-house medical transcriptionists, so many of them outsource the process.

Praveen Kumar said...

Pacific BPO provides end to end bpo outsourcing solutions for medical healthcare including medical coding in India.



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Antoine Lockhart said...

Well, you are right, guys! Medical billing and coding are now an additional spice to the BPO hot industry. I had worked under the BPO industry twice though I never got into these stuff. But what is certain is the these two careers are greatly in demand.

MicroSourcing said...

Medical coding and billing often get outsourced to India because of the lower rates and the expertise of offshore teams.

Chloe Wallace said...

It is really easier to rely on outsourcing services when it comes to healthcare billing . At least, you know that the one doing your billing are experts on this field.

MicroSourcing said...

Poor documentation can be problematic for a lot of medical coding organizations, since it keeps them for tracking processes that need to be optimized.

David said...

Reading this post reminds me of my good old room mate! He always kept talking about this. I will forward this post to him. Thanks!

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jamei marry said...

Indian healthcare service providers are equipped with the latest technology, software and provide services that are on par with international healthcare standards. In Medical Billing, the practice of outsourcing is common for every hospital and clinics. The reason of outsource medical billing is save time, top level security, reduce rejected claims and helps to negotiate with insurance carriers and many more
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tbservices said...

this is brilliant idea.i really like your really helpful to others please continue your good job,thanksbpo outsourcing

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Vikas Dhama said...
This comment has been removed by the author.
Kyle Phillips said...

Medical Transcription is the process whereby one accurately and swiftly transcribes medical records dictated by doctors and others. Ascent Business Solutions is one of the leading providers of Medical Transcription Services in India. Since our inception we are known for our excellence in service areas and have a proven track record of providing the best medical transcription over a number of years. Our company has a team of highly accomplished transcribers who use the finest technology to offer cost effective and exceptionally accurate services to our clients and also to deliver quality at par with the standards of the industry and to consistently meet turn around time.

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robert yarn said...

Hi, This is a good post, indeed a great job. You must have done good research for the work, I appreciate your efforts.. Looking for more updates from your side. Thanks
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Offshoremedical Coding said...

Medical coding outsourcing is extreme important factor in healthcare industry. Outsourcing certified medical coders is a best way to manage administrative cost and increase revenues. For more information log on to :- Medical Coding Outsourcing Services

Kyle Phillips said...

Ascent's AAPC certified coding team is proficient with CPT, ICD-9, ICD-10, HCPCS level II and DRG codes across various specialties.

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Billing said...

Wonderful blog & good post.................Medical coding is the major process in medical billing lifecycle. Medical coders involve medical practices such as medical coding, billing, backlog coding etc.

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Zab Clement said...

Medical coding and billing have really evolved into complex process since its birth. I think we should thank the technology for fast advancement in medical coding and billing.

Bristolhs Healthcare said...

Thank you for the most valuable information...........Most health care entities having a bulk lot of revenue management data to be processed everyday, they prefer offshore outsourcing as a reliable and smart option for effective and flawless revenue management. It also lets them focus on their core health care services.


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Hill said...

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medicalcodingoutsourcing.net said...

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