How Can Healthcare Firms Benefit by Outsourcing HR?
With the government making cuts in the healthcare budgets and healthcare becoming more and more expensive, it has become essential for healthcare firms to cut costs and save money. But the question is how? There are very few ways healthcare firms can save money – one of them is outsourcing HR. Let us find out how human resource outsourcing can help these healthcare firms.
Save money
In order to sail through the healthcare reforms, it has become necessary for hospitals and health care providers to look at ways to reduce their expenses. Human resource outsourcing services helps coordinate and stay on top of HR activities. A midsized healthcare firm spends nearly $1500 to $2000 per employee in a single year after HR related activities such as payroll, timesheet and attendance, insurance and health benefits, etc. Outsourcing these activities can drastically cut costs and time spent on these activities. Besides there are many other benefits that help you save money indirectly. Here are some of the other benefits of outsourcing HR.
Improved productivity
HR is a cost center in the organization but a very necessary one. When you outsource human resource services, you have more time to focus on other profitable pursuits of your organization. HR outsourcing allows you to shift seemingly endless and exhausting mundane HR activities such as logging employee hours, process payroll, take care of employee insurance, tax filing etc. to the outsourcing firm. The healthcare industry, where there are multiple shifts, thousand types of forms and various other formalities, it makes sense that you go for human resources outsourcing and cut down time spent on these activities by your in-house staff.
Better compliance
Healthcare firms have to be very careful with their data. Regulatory compliance such as HIPAA and other acts have made it mandatory for healthcare firms to secure personnel and patient data and track how it is used. A complete audit log of key personnel is also to be maintained. This is where human resource outsourcing services can come handy. With specialized HR services, it becomes easier to handle data and comply with regulations.
Improved tracking
Whether it is a small clinic or a big hospital, there are various types of shifts and employees such as nurses, physicians, wards etc. all clocking in varying time and get varying pay. This makes it difficult to clock their hours and bill them accordingly. There are many types of software that help maintain and track logs, take care of payroll, taxes and many more. However, with more software installations come more headache of taking care of them. So it is wise to outsource these HR activities and relieve yourself of the tension.
In order to meet challenges better in this ever-changing healthcare industry, it is important to outsource your HR function to save on some critical expenses. However, we have one word of advice, select the human resources outsourcing provider carefully so you get the best out of it.
Talk to our HR outsourcing team to know how our HR outsourcing company can help your organization save some money. Call us on 1-877-RISHABH (1-877-747-4224) or Fill in your details here and have us call you.