Running a medical practice is no easy feat. From ensuring top-quality patient care to handling administrative tasks, there’s never a shortage of work.
It’s no wonder that more and more medical practices are turning to outsourcing to alleviate some of the workload.
Outsourcing staff involves hiring a third-party company to manage the recruitment, training, and management of administrative staff, such as front-office receptionists, billing specialists, and medical coders.
While outsourcing can offer many benefits, it’s not without its drawbacks. In this article, we’ll explore the pros and cons of outsourcing medical practice staffing and provide actionable advice to help you make an informed decision.
The Current State of Medical Industry Staffing
Before we dive into the pros and cons of outsourcing medical practice staffing, it’s essential to understand the staffing challenges currently facing the medical industry.
Shortage of Qualified Healthcare Professionals
The shortage of qualified healthcare professionals is a significant issue facing the medical industry today.
With the aging population and increased demand for healthcare services, there simply needs to be more healthcare professionals to meet the growing demand. This can result in longer wait times for patients, decreased quality of care, and increased healthcare costs.
Additionally, the shortage of healthcare professionals can lead to high turnover rates and increased workload for existing staff, leading to burnout and decreased job satisfaction.
Medical practices must address this issue by increasing efforts to recruit and retain healthcare professionals, offering competitive salaries and benefits, and providing opportunities for professional development and growth.
According to the Bureau of Labor Statistics, healthcare occupations are projected to grow by 15% from 2019 to 2029, much faster than the average for all occupations.
High Turnover Rates
High turnover rates are another issue facing the medical industry. According to a study by the National Healthcare Retention & RN Staffing Report, the overall turnover rate for bedside registered nurses in 2019 was 17.2%, up from 16.2% in 2018.
Turnover rates for other healthcare positions are similarly high, which can be costly for medical practices. High turnover rates can also lead to decreased quality of care, as new staff members may not be as familiar with patient needs and medical histories.
To address high turnover rates, medical practices must prioritize employee satisfaction and provide professional growth and development opportunities.
This can include offering competitive salaries and benefits, implementing flexible scheduling, and providing opportunities for continuing education and training.
Burnout and Mental Health Concerns
The medical industry is also facing high rates of burnout and mental health concerns among healthcare professionals.
According to a study by Medscape, 42% of physicians reported feeling burned out in 2020, up from 40% in 2019. Burnout can lead to high turnover rates, lower productivity, and poor patient care.
Medical practices must prioritize employee wellness and provide resources and support for healthcare professionals experiencing burnout or mental health concerns.
This can include offering mental health services, promoting work-life balance, and providing opportunities for stress management and self-care.
Increased Administrative Workloads
Lastly, medical professionals face increased administrative workloads, which can detract from patient care.
According to a Medical Group Management Association survey, 70% of medical practices reported an increase in administrative workloads over the past year.
This can lead to increased stress and burnout among healthcare professionals.
These staffing challenges can make it difficult for medical practices to find and retain qualified staff.
Outsourcing medical practice staffing can solve some of these challenges, allowing practices to tap into a network of qualified professionals and reduce administrative workloads.
Pros of Outsourcing Medical Practice Staffing
This section will explore the benefits of outsourcing medical practice staffing, including increased flexibility, access to expertise, cost savings, and improved efficiency.
We’ll provide data and statistics to support these benefits and offer actionable advice for medical practices considering outsourcing.
Increased Flexibility
Increased flexibility is one of the most significant benefits of outsourcing medical practice staffing.
When you outsource, you can scale your staffing needs up or down based on your practice’s needs. For example, during peak periods, such as flu season, you may need more staff to handle an increase in patients.
With outsourcing, you can quickly and easily bring on additional staff to handle the influx of patients.
Conversely, you can reduce staffing levels during slower periods to save on costs.
According to a survey by the Society for Human Resource Management (SHRM), 41% of companies that outsource do so to gain access to a flexible workforce.
Access to Expertise
Outsourcing can give you access to a pool of experts in various areas of administration.
For example, you may need a billing specialist with expertise in a particular area of medical coding. By outsourcing, you can tap into a network of qualified professionals with the required expertise.
A study by the National Center for Biotechnology Information (NCBI) found that outsourcing can help medical practices access specialized expertise and knowledge that may be difficult to find in-house.
This can help ensure your practice stays up-to-date on the latest trends, laws, and regulations in the medical industry.
Cost Savings
Outsourcing can also offer cost savings to medical practices. The International Association of Outsourcing Professionals (IAOP) report found that outsourcing can lead to significant cost savings for medical practices.
The report found that outsourcing can save up to 60% on labor costs alone. When you outsource, you don’t have to pay for benefits, training, or other costs associated with hiring and managing administrative staff.
Additionally, outsourcing companies often have economies of scale, which means they can offer services at a lower cost than you could achieve in-house.
Improved Efficiency
By outsourcing medical practice staffing, you can focus on providing top-quality patient care while the outsourced staff handles administrative tasks.
This can help improve efficiency and productivity in your practice. Additionally, outsourcing companies often have streamlined processes and systems in place, which can help improve the efficiency of administrative tasks.
According to a study by the National Healthcare Retention & RN Staffing Report, outsourcing can help improve efficiency in medical practices by allowing healthcare professionals to focus on patient care rather than administrative tasks.
The report found that 49% of healthcare professionals reported that administrative tasks detract from patient care.
Cons of Outsourcing Medical Practice Staffing
This section will examine some drawbacks of outsourcing medical practice staffing.
While outsourcing can offer benefits such as cost savings and access to specialized expertise, it poses potential challenges such as loss of control, communication issues, quality concerns, and potential security risks.
Loss of Control
Outsourcing medical practice staffing can lead to losing control over administrative tasks, which can be difficult for some medical practices to relinquish.
However, this concern can be mitigated by selecting the right outsourcing partner. At Edge, we work closely with our clients to ensure they maintain control over critical aspects of their business while still benefiting from hiring globally.
Communication Issues
Working with an outsourcing partner in a different city, state, or country can create communication barriers that can be challenging to overcome.
However, choosing the right outsourcing partner can help establish clear lines of communication and expectations.
At Edge, we prioritize communication by hiring the top 1% of highly educated talent from our sourcing countries.
Quality Concerns
Relying on a third-party company to provide top-quality staff can be a concern when outsourcing.
However, this issue can be addressed by thoroughly vetting any outsourcing partner and ensuring they have a proven track record of providing top-quality staff.
At Edge, we pride ourselves on providing the best possible staff for our clients and thoroughly vet all potential candidates to ensure they meet our high standards.
With a candidate pool of over a thousand resumes weekly, we take pride in maintaining a hire rate of 1.5% to ensure our clients get high-quality employees.
Potential Security Risks
Outsourcing can pose potential security risks, as third-party companies will have access to sensitive patient data.
Selecting the right outsourcing partner with robust security measures can help mitigate these risks.
At Edge, we take patient data security seriously and have the latest and highest-measure security protocols to protect patient data.
Check out our security and compliance measures here.
Choosing the right outsourcing partner is essential when considering medical practice staffing outsourcing.
By selecting a reputable partner with a proven track record of success, medical practices can reap the benefits of outsourcing while avoiding potential drawbacks.
How to Make Outsourcing Work for Your Medical Practice
If you’re considering outsourcing, taking the necessary steps to ensure a successful partnership is essential.
Here are some tips to help make outsourcing work for your medical practice:
Identify Your Needs
Before outsourcing, it’s essential to identify your specific staffing needs.
This involves considering which administrative tasks you want to outsource and which skills you need in your staff.
One way to identify your staffing needs is to conduct a staffing assessment to determine the number of employees and types of roles needed in your practice.
The Medical Group Management Association (MGMA) provides a staffing assessment tool to help medical practices evaluate their staffing needs.
Choose the Right Partner
Choosing the right outsourcing partner is crucial to the success of your medical practice.
Look for outsourcing companies with experience in the medical industry and a proven track record of providing top-quality staff.
Consider the company’s reputation, customer reviews, and any certifications or accreditations they may have. Choosing a partner that aligns with your values and goals is also essential.
The Society for Human Resource Management (SHRM) provides resources for selecting outsourcing partners, including a guide to choosing a human resources outsourcing provider.
Edge is the leading HR partner for medical practices looking to hire globally sourced staff.
With a hire rate of 1.5% and a retention rate of 97%, practices are met with the best quality staff that are in it for the long run.
Establish Clear Expectations
Establishing clear expectations with your outsourcing partner is crucial to avoiding communication issues.
Define the roles and responsibilities of each party, communication protocols, and performance metrics.
This will help ensure everyone is on the same page and working towards the same goals. It’s also important to establish protocols for resolving any conflicts or issues that may arise.
Additionally, before onboarding employees at a practice, Edge works out a success plan with all their clients, including goal setting, expectations, roles, and responsibilities.
This helps to ensure a smooth onboarding and successful relationship between the practice and their employee(s).
Monitor Performance
Regularly monitoring performance is essential to ensuring your outsourcing partnership is successful.
Establish performance metrics and regularly review them with your outsourcing partner.
If there are any issues, address them promptly and work with your partner to resolve them.
Regularly reviewing performance metrics and providing feedback can help ensure your outsourcing partner meets your expectations.
The MGMA provides a guide to managing outsourcing partnerships, including a monitoring performance section.
Maintain Communication
Maintaining open lines of communication with your outsourcing partner is essential to the success of your partnership.
Regularly communicate with your outsourcing partner and address any issues or concerns promptly.
Regularly reviewing performance metrics and providing feedback can help ensure your outsourcing partner meets your expectations.
The IAOP provides a guide to communication protocols for outsourcing partnerships, including templates for communication plans and schedules.
Moreover, Edge ensures communication by providing each client with a dedicated client success manager who becomes your go-to and point of contact for anything, including regular check-ins.
Edge: The Staffing Partner of Choice
At Edge, we understand the importance of hiring the right staff members from the right partner.
That’s why we provide high-quality, scalable, and adaptable staffing and workforce management solutions that seamlessly connect exceptional talent from all over the world with practices in North America.
Our remote staff members undergo extensive training to ensure that they can provide excellent communication, multitasking and organizational skills, empathy and compassion, attention to detail, and technical skills.
Additionally, Edge offers extensive security, vetting, and compliance regulations across all staff countries, including the United States.
By outsourcing your staffing needs to Edge, you can be at ease knowing that your practice is partnered with the leading hiring partner for medical practices nationwide.
Conclusion
In conclusion, outsourcing medical practice staffing can offer many benefits, including increased flexibility, access to expertise, cost savings, and improved efficiency.
However, outsourcing also has some potential drawbacks, such as loss of control, communication issues, quality concerns, and potential security risks.
To make outsourcing work, it’s essential to identify your needs, choose the right outsourcing partner, establish clear expectations, monitor performance, and maintain communication.
By taking these steps, you can build a successful outsourcing partnership that helps your practice thrive.
At Edge, we understand the unique challenges of managing a medical practice and are here to help.
Our staffing and workforce management solutions are designed to help medical practices increase efficiency, reduce costs, and provide top-quality patient care.
