Bill Wagner, CHPS, CPCO, KIWI-TEK | Since 2013, the trend of using offshore vendors for coding, transcription and billing services has accelerated as healthcare providers look for ways to trim expenses. This trend increased sharply in 2014 and 2015 due to the looming financial threat of ICD-10. Today, with continued pressure on administrative expenses, offshoring is still an attractive option due to the lower upfront costs and fees. While these upfront costs are easy to compare to in-house or domestic based solutions, very little analysis is available on the overall impact on costs and revenue cycle for providers.
This presentation will present the results of a two year study across six large Covered Entities that compares the actual costs and benefits of utilizing offshore coding services versus domestic coding resources. The comparison will include analysis of:
• Upfront fees
• Auditing expense
• Denied claims
• Depth of coding
• Turnaround time
• HIPAA compliance
At the end of the presentation, the audience will have full understanding of the benefits, risks and cost of offshoring revenue cycle services.