Let’s face it the digital world created many career opportunities for specialists in all fields. The global way of working over the Internet and making the most out of a 24 hour day is additionally something that many people see as an advantage which is how the world of outsourcing began. Basically, outsourcing is a process of obtaining services from outside or foreign suppliers. Ideally, these services are priced below the standard rate in the specific country that is outsourcing them which is a great advantage to the outsourcer to earn and capitalize on the services in long term. Over the past decade, a lot of outsourcing suppliers have been penetrating into Asia as the leading country in the offshore solutions. However, as of recently, the world started shifting towards Central (Latin) America- and countries like Nicaragua. Wondering why?
Nearshore Outsourcing: Client Partnerships And Customer Engagement
There are two types of outsourcing – nearshore and offshore. And while both of these types require attention to detail and a high degree of collaboration, nearshore outsourcing is the model that is the best one for long-term projects and maximizing customer interactions. That is how Central America has won the hearts of many outsource buyers looking for the best teams they can outsource their duties to and build success in the long term by having a team they could rely on. Still, not every country lives up to the expectations of the modern workforce, particularly not when it comes to the new trends, skills and requirements that are needed in the marketplace. Here we introduce Nicaragua as one of the very few countries that prides itself on the skilled labor force with affordable labor rates. The education system in Nicaragua has blossomed after the ten-year civil war that ended in 1989. Ever since that point in history the elementary and middle schools have been teaching their students about the importance of the digital mediums and how many opportunities are out there waiting for them. Additionally, the government has placed a heavy emphasis on companies that are investing on the local economy to provide these services to international clients. Their support has been instrumental in growing the business process outsourcing (BPO) industry in Nicaragua.
The Benefits That Come As A Result Of The Outsourcing Initiative In Nicaragua
Because of the democracy and the government’s mission to focus on outsourcing jobs, Nicaragua has been seeing the great results and many aggressive incentives to attract suppliers by the government itself. In the words of Matt Reeser President and CEO of Tri Source International and a key opinion leader in the industry:”The main benefits aside from the skilled labor and their affordability is fact that Nicaragua’s workforce is English-speaking and therefore easier to collaborate with. This is a result from the English-language fluency that Nicaragua as a country has established helping the outsourcing suppliers recruit talent. ” The bilingual initiative, fiber optics and ease of doing business should also be on the list of benefits for outsourcing buyers looking for a great nearshore location. Nicaragua is also in the Central Time Zone (CST) which makes it ideal for real-time communication and redundant internet speeds at affordable costs.
A Final Word
So far the outsourcing initiative in Nicaragua has attracted a lot of outsourcers and many companies interested in both offshoring and nearshoring. However, nearshoring seems to always be the best idea mostly because of the low costs, similar time zones and proximity to the US and International markets.
Company Name: Tri Source International, LLC
Contact Person: Matt Reeser, President & CEO
URL: www.trisourcebpo.com and www.medicalbillingreps.com
Address: 25000 Avenue Stanford Ste. 248 Valencia, CA 91355
FOR IMMEDIATE RELEASE
TRI SOURCE INTERNATIONAL ANNOUNCES NEW HEALTHCARE DIVISION
HIRING REMOTE HEALTHCARE REPS TO INCREASE THE PRODUCTIVITY OF FRONT AND BACK OFFICE TASKS
Valencia, CA, March 11, 2017 – Tri Source International is proud to launch a new division called Medical Billing Reps which specializes in the healthcare industry. The division offers full service Revenue Cycle Management (RCM) with a dedicated labor force. Tri Source International provides quality outsourcing solutions to its clients worldwide and this new division for healthcare clients will be a major step forward in the achievements of the business process outsourcing (BPO) leader. The new division will provide solutions to healthcare companies who are experiencing pain points related to high turnover, poor performance and increasing costs within their companies.
Matt Reeser, President and CEO of Tri Source International stated “We are thrilled to partner with our growing clients in medical practices and healthcare organizations with our new division of Medical Billing Reps. Our service offerings will address the concerns of high turnover, poor performance and increasing labor cost issues they face by allowing them to now focus more on their core business with us as a partner.” Additionally Reeser said, “People will now be able to hire remote Medical RCM Representatives without losing any valuable time as our reps are ready to work and we will increase our clients’ overall productivity levels by 70 percent while reducing their overhead expenses by 60%.
With this new solution clients will work and collaborate with their remote employees directly using all the existing systems and platforms they currently use. The division will also eliminate payroll taxes, worker’s comp, employee benefits and the dreaded hiring process their clients face with each local employee. The full service solution will increase client’s productivity levels, increase their revenue and results like never before. The revenue cycle management workforce consists of motivated and extremely talented individuals who believe in achieving more and handling all the healthcare related front and back office tasks of their clients.
When asked about the talent of the new division Matt Reeser says, “With years of experience specializing in the healthcare industry, we deliver a world class facility and solution to make businesses run more efficiently and without the hassles of managing employees.” All of our representatives speak fluent English and Spanish while the division also offers Italian, Portuguese, French, German and Dutch languages as well. Medical Billing Reps will provide complete access and transparency features making sure that each representative is available at all times via phone, messenger, email, webinar or on-site.
The RCM Solution Suite will cover the services of claims submission, claims denial and correction, payment posting, data entry, collections and courtesy calls, data entry, insurance verifications etc. Other services offered include insurance follow up and resolution, payment posting, medical records review and prior authorizations etc. Voice samples are readily available for prospective clients to listen to before hiring their new representatives as well as complete scope of work and implementation plans prior to team launches. For further details visit www.medicalbillingreps.com.
Some see it as a one-time thing and others refer to it as the future of work as we know it. Working from home, remote employees, freelancing, outsourcing…There are hundreds of ways to describe the era that introduces us to a new way of working. And just like that, there are people who think that these new workers just cannot do things because they don’t know the business. However, the truth is that remote work not only exists – it is exponentially increasing year by year. According to a forecast of employment trends by the World Economic Forum, remote employees are one of the biggest drivers of transformation in the workplace. A Gallup poll on telecommuting found that even 37% of American workers have worked remotely at some point in their careers. The number of employees who worked remotely 4 to 5 days according to another Gallup survey rose from 24% in 2012 to 31% in 2016 all leading us to the fact that working remotely is not anymore a trend but a reality for both individuals and businesses.
But what are the benefits we can expect from such a reality?
1. Increased Worker Productivity
We can all agree that not every worker has the same vantage point from the prism of effectiveness and productivity. Just like that remote employees focus on getting the job done instead of procrastinating. According to a recent survey by SurePayroll 86% of the remote workers said that working alone to hit the maximum productivity is something that they prefer over an 8-hour shift.
2. Decreased Costs
If employees are working remotely employers are saving on overhead, infrastucture, equipment and labor costs. Most of these costs are substantial and the savings for companies hiring remote workers are even greater! Wondering why? Well, it is all about real estate, electricity and salaries – which aren’t a problem as soon as remote work is considered. The remote jobs are a reality now more than ever and this article listing all the companies hiring remote workers is a solid proof for that.
3. Workers Feel More Connected With Technology
Remote jobs allow workers to be more connected and able to simultaneously finish different tasks and streamline their day-to-day work duties. Additionally, there is no need for any substantial equipment to be invested and most outsourcing vendors have all the necessary connections, robust technology and resources available to connect to their clients as if they were local in their office.
4. Avoiding The Stress Of Turnover And Training
Did you know that the average employer typically sees 35-50% annual attrition each year. That is a sunk cost that really hurts the bottom line in many ways not just financially. Keeping employees engaged and motivated to do their jobs at the local level is very difficult to do considering the constant need to get more. When you utilize an outsourcing vendor it eliminates the need to worry about such things and allowing you to focus on your core business. Tri Source International CEO Matt Reeser says ” Companies today more than ever need to focus their energy on growing their business and effectively managing the core tasks that they have. The ability to pass along the entry and mid-level tasks to an outsource vendor will not only save on costs but also increase their productivity rates substantially.”
In the end, there are many more benefits we can add to remote work – such as reduced employee turnover, access to global talent, cost savings etc. The point here is hiring remote workers is a strategy for all businesses to better leverage time, talent, cost and production. It is no longer a secondary thought for executives but rather an ongoing trend that continues to grow year over year and those who embrace it as a core principle are seeing great results.
As businesses look to scale their efficiency the global market for nearshore and offshore outsourcing continues to grow. While many people link India and Asia as the main outsourcing hubs there is a real momentum shift happening in Central America particularly in Nicaragua as a new outsourcing marketplace that offers many benefits. However, choosing the right outsourcing partner is always the same process – whether it’s China, Nicaragua or India as the main labor target. So, what are the key qualities of a solid outsourcing partner?
1. Skipping A Language Barrier
Ideally, English-speaking countries make the perfect outsourcing markets. This is mostly because of the language barrier that many outsourcing buyers want to avoid regardless of the cost of labor in a specific country. Aside from communication, English-speaking countries make great outsourcing markets because of the constant workflow and the additional groups of professionals that are available (for example customer service, data entry, phones sales and healthcare reps etc.)
2. Time Zone (Similarities)
Hiring an outsourcing partner sometimes requires the presence of real-time tasks, operations and day-to-day reporting. With needs like these an outsourcing country that is hours ahead – or behind – the time zone in the outsourcing buyer’s country can create a major issue. That is why some outsource vendors like Tri Source International have started shifting their operations to Central America. Having the same time zone as their clients results in better and more organized workflow, communication and results.
3. Skills And Expertise
Every outsourcing partner should have the right labor force to execute all of the requirements by the client buyer. Although this seems like a no-brainer, there is actually a great deal of countries where the talent pool is below the expectations or standards of the industry. This is another reason why more and more outsourcing buyers have started shifting their efforts to Central America and Nicaragua. As our speaker Matt Reeser says: “Nicaragua has a large talent pool that ranges from Tier 1 to Tier 3 level talent which are fully capable of handling just about all front and back office tasks. The main reason for this is the investment in education and the numerous programs that are run by the country, all focused on making Nicaragua the first and foremost outsourcing destination in the world.”
4. Outsourcing Companies Instead Of Freelancers
According to Matt Reeser, “In a world full of freelancers, finding a motivated and long-term oriented outsourcing provider is really hard. And this is where the company approach steps in. In today’s world there are more and more outsourcing providers than ever before and each of them is mutually responsible for providing professional, reliable and long-term services that take outsourcing to the next level.” If there is one thing we can conclude from all of these ideas in the end it is that the pool of talent is evolving. With that the outsourcing marketplace is growing, especially to countries that exactly match the needs of the outsourcing buyers and are able to respond to them effectively and with agile solutions.