The miracle of healthcare is that a patient with little to no chance of surviving can make it through with the help of the right professionals. Unfortunately, despite the magic that healthcare workers can provide, the industry at large struggles from a result of irrecoverable payments from patients. This creates a unique challenge for healthcare payers, such as health insurance companies and other plan providers, as they’re left with limited options when it comes to recovering this capital. Many of these organizations have internal recovery processes that are incapable of matching those of business process outsourcing providers. This post will detail the ways in which these third-party providers can help organizations maximize the amount of money they’re able to recover from these processes.

Just how effective are these third-party providers? Research indicates some of the most prominent providers will be able to identify nearly 80% of all recovery options through a pharmacy compliance audit. Recovering this money as an organization would often come at the complexity of negatively impacting your organization’s day-to-day operations. More and more payers are struggling to find ways to keep track of all of their audits and recovery efforts, which is why the right BPO provider can make all the difference.

Which Partner Is Right For Your Organization?

As previously mentioned, organizations would rather invest into a BPO provider’s services rather than polling their resources and efforts together to solve these tasks. These providers are capable of offering payers unique opportunities to recover their money in the most efficient way possible. These providers are capable of solving niche, one-of-one issues for companies or can be used more comprehensively for organizations looking for additional payment recovery options.

One of the most applicable examples of these providers comes in the form of their subrogation services. Through these services, providers are able to guarantee that healthcare costs linked to medical and disability expenses are being taken care of by the proper liable party. Which can help any organization reduce the amount of delays and confusion regarding recovering this type of payment. These providers are also capable of comprehensive pharmacy audits which provide real-time monitoring to retail pharmacy operations. Which can keep a tight containment on costs and provide comprehensive strategies to combat against fraud and abuse.

Do you believe your organization is in need of a third-party solutions provider in order to recover more of the capital its lost over the course of the last few years? It might be worth considering the ways in which a business process outsourcing provider’s payment recovery tools can help your organization. To learn more about these third-party solutions and the different providers, spend some time checking out the infographic that appears alongside this post.