Every day, healthcare facilities generate a significant amount of data which includes patient records, treatment histories, financial transactions, and insurance claims. In 2020, the data generated from clinics, hospitals, pharmacies, etc., accounted for 30% of global data. By 2025, this number is projected to rise at an annual rate of 36 percent.
Efficient management of this medical data is crucial, but in-house data entry is time-consuming and resource-intensive. As a result, the healthcare sector turned to outsourcing medical data entry services, with its market share expected to grow by USD 755 billion by 2030.
In this blog, we will outline the benefits of data entry outsourcing that have propelled its growth in healthcare data management.
Benefits of outsourcing data entry services
There are a plethora of reasons why outsourcing medical data entry services is a good idea. To begin with, the massive volume and complexity of healthcare data makes in-house data entry a cumbersome task. Entering medical records necessitates substantial investment in resources including skilled personnel, appropriate infrastructure, and careful attention to detail. Thus, the data can be processed more efficiently and accurately when outsourced to a third-party vendor.
Here are a few other benefits to consider:
1. Focus on core competencies
The healthcare sector uniquely demands manual data entry due to the sensitive and confidential nature of medical records. Electronic medical records [EMR] also require continual updating of entries which can get time-consuming for the medical staff. Outsourcing these tasks to third-party service providers can free up medical staff from the burden of these monotonous tasks. As a result, healthcare professionals can shift their focus from data entry to their core competencies, such as patient care, diagnosis, and treatment, thereby optimizing their time and expertise.
2. Ensures compliance with regulations
Healthcare organizations handle vast amounts of sensitive patient data which makes data security paramount. When you outsource your data entry tasks to professionals, they recognize the significance of safeguarding this information and invest heavily in cybersecurity measures and compliance with industry regulations like HIPAA (Health Insurance Portability and Accountability Act). These providers implement encryption, access controls, and auditing processes to protect patient data. In-house medical staff may often surpass the security measures that a vendor complies with.
3. Reduced operational costs
Outsourcing healthcare data entry services offers a significant advantage in cost-efficiency. It eliminates the need to invest in training or hiring employees specifically for data entry tasks, office space, and expensive hardware and software. This results in substantial savings in operational costs, which can then be redirected toward enhancing healthcare facilities, improving patient care, and investing in innovative medical technologies. This way, healthcare organizations can maximize their financial resources and deliver a higher quality of care to patients while maintaining operational efficiency.
4. Expertise and quality
By outsourcing data entry to specialized service providers, you can be sure that subject-matter experts who have an in-depth knowledge of the healthcare sector will handle the data. These experts are proficient in industry-specific terminology and standards, ensuring high-quality data entry.
Additionally, the service providers employ data validation and verification techniques to maintain data accuracy. This is essentially beneficial in the healthcare sector, where even the smallest errors can have far-reaching consequences.
5. Increased scalability
The healthcare sector experiences fluctuations in data entry workloads. There may be spikes in the incoming patient data or insurance claim data during certain periods, such as flu seasons, summer seasons (where allergy cases and school-children accidents seem to peak), pandemics, etc. Outsourcing provides the scalability that healthcare organizations need to adapt to these variations. Service providers can quickly adjust their resources to accommodate the increased workload during peak times and scale down during quieter periods, ensuring optimal resource utilization.
Key considerations before partnering with a data entry service provider
Selecting the right partner for your medical data entry tasks is not one to be taken lightly. It requires careful consideration of various factors to ensure a seamless and secure collaboration. Here are the key factors to ponder before forging a partnership:
1. Expertise in the healthcare domain
The importance of partnering with a data entry outsourcing service provider with expertise in the healthcare domain cannot be overstated. Experienced professionals in healthcare are well-versed in the nuances of electronic health records (EHR), the intricate web of international classification of diseases (ICD) coding, etc. This proficiency ensures that data is entered accurately, preventing errors that could jeopardize patient care, billing accuracy, and compliance with stringent healthcare regulations.
2. Brand reputation
Working with a vendor who has a poor reputation might not provide a professional and efficient collaboration. So, before you hire any of your prospects, make sure you do your online research about their ratings and reviews. You can determine how effective they are by looking at their portfolios or success stories.
3. Safety protocols
Healthcare data is highly sensitive and subject to stringent regulatory standards. The outsourcing provider should have robust data security measures in place, including encryption, access controls, and regular security audits. Ensure that the provider is compliant with HIPAA regulations and any other relevant data protection laws to avoid potential legal complications.
4. Cost structure
While expertise, reputation, and safety are important parameters to be assessed before outsourcing data entry tasks, it is essential to also take into consideration the financial component of outsourcing. Discuss the cost structures with your potential data entry service provider. It’s advisable to request detailed cost breakdowns to avoid any sort of disappointment in the future. Remember that cost considerations should not compromise the quality and security of your healthcare data.
Final takeaway
Outsourcing medical data entry services is not just a trend in the healthcare industry; rather, it is a strategic move towards a future that is more focused on patients, more secure, and more efficient. When taken together, the direct organizational benefits of easy data storage, accuracy, HIPAA compliance, and secrecy lay the way for a healthcare ecosystem that thrives on data-driven precision and a dedication to patient well-being. This way, your in-house teams can focus on their core responsibilities, and your overall organizational productivity is also expected to rise.