When a healthcare company is facing clinical shortages and rising costs, what is the solution?
There are 2 options we see companies traditionally use, but *spoiler alert* we’re also going to present a 3rd!
Option 1: Spend money, but ensure quality by recruiting and training nurses for non-clinical, administrative work or fill in gaps of bedside care
Option 2: Save money, but risk quality by sending clinical administrative work to a Business Process Outsourcing (BPO) company
Let’s talk about nurses first. If you’re hiring new nurses or using your current nurses to do administrative work, it’s a disservice to your business and the U.S. Healthcare system.
The U.S is in a huge nursing shortage that will require 20% MORE nurses by 2022 than we currently have. This puts both nurses and hospitals in a bind – long hours for nurses and difficulty in hiring nurses for hospitals. Hospitals are so understaffed that they are paying 25% more for travel nurses to fill their gaps.
But it’s not just hospitals. Health Insurers need nurses. Workers’ Comp & Disability providers need nurses. Pharma companies need nurses. We just can’t get them quick enough. With that in mind, we need nurses in positions that allow them to do what they do best but also makes sense from a cost perspective.
So if hiring more nurses and spending more money isn’t the right option for you, then what about Option 2?
Many healthcare companies take advantage of Business Process Outsourcing (BPO) to cut cost and remove some of the admin work from clinicians. This accomplishes the cost and admin issues, but presents new problems.
BPO companies are not usually healthcare-specific, even though most of the major BPO’s will have a dedicated Healthcare BPO division. While they might be able to do some of your admin work at a low cost, the more complex healthcare admin functions will suffer in quality. We’ve had many companies tell us they’re turned off to the entire idea of healthcare outsourcing or offshoring because of a bad healthcare BPO experience.
Therefore, we present Option 3.
Clinical Process Outsourcing (CPO®) is healthcare-focused administrative work that requires a clinician or is made better because of clinical expertise. Shearwater Health created this unique approach to Healthcare BPO that utilizes a surplus of highly-skilled clinicians in the Philippines surrounded by Six Sigma Business Excellence and RPA Technology teams to ensure the best quality at a lower cost than domestic USRN’s.
Imagine this scenario: you have a dedicated team of 20 Shearwater nurses in the Philippines supporting your Telehealth program. In 2-3 years, 10 nurses on that team become eligible to work in the U.S. Now you’ll have 10 domestic nurses (already trained on your system and processes) in your office and managed by Shearwater for the first 30 months. That takes away training and HR costs and addresses your headache in recruiting nurses. That’s what we call a long-term solution to the nursing shortage.
Offshoring has long been stigmatized as negative to the U.S. economy. When it comes to healthcare, this couldn’t be further from the truth. We need a global solution for U.S. Healthcare. Using the Shearwater CPO® solution frees your nurses to focus on caring for patients and stops unnecessary spend on administrative work.
Contact us if you’d like to learn how your company could benefit from CPO® solutions.