Many businesses in the United States have started seeing value in outsourcing to India in the last decade or so. The USA remains the biggest client for India in terms of outsourcing and contributes 62% of the country’s income via outsourcing. Why is a small medical coding company in India easily becoming the trusted service partner for a US healthcare giant?
Here are three reasons why this happens.
Affordability vs. skill ratio
There are some countries where the cost of living is really high, and the quality of education and skill levels of people are also equally high. There are other developing countries where the local currency is a fraction of the US dollar, but the quality of skill and talent are just in their budding stages. India is a perfect amalgamation of both. One Indian rupee is about just 0.012 USD, which means US companies find it very affordable to outsource to the country. Conversely, the quality of education and the kind of talent you find here would surprise you. Indians take education and skill growth very seriously, and this shows in their ability to work smart and hard.
So, a medical coding company in India would offer extremely competitive rates to you when compared to a coding company in the US and also offer equal, if not more, in terms of workforce talent. Isn’t this a combination any business would love to have?
This is one major reason why outsourcing to India is something the US healthcare brands find value in.
Valuable time zone difference
When it comes to time zone differences, India is ahead of the US by around 12-14 hours. If you work in the healthcare industry, you will know how vital time is for the backend operations. Let’s say the US team complies with a list of reports and bills to be coded, sends them to the medical coding company in India, and finishes their day by 6 PM. As the local team is getting ready to sleep, the Indian counterparts wake up and start their day.
While the rest of the United States is sleeping, the Indian coders have finished coding your bills and have generated claims that can be sent to the insurance companies once the US team starts working the next day.
This 12-14 hour time zone difference ensures work is done 24/7, either in the US or India, and this is an extremely strategic advantage to hold on to.
Favorable political climate
India enjoys a stable political ground with the government encouraging foreign businesses to invest or work with Indian brands. An unstable governmental scenario can lead to interruptions in processes, long and tiring delays, or excessive taxation or charges levied on foreign businesses. For all the above reasons, US healthcare providers prefer working with a medical coding company in India rather than looking at other providers in different countries.
Takeaways
India remains one of the most favorable countries for outsourcing billing and coding processes. Working with any reliable medical coding company in India will give the practices multiple strategic advantages to hold on to.
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