Healthcare service providers may be taking some unnecessary risks when it comes to their healthcare billing solutions. Yet, they may not even know that the options that they are choosing come with risks. We are living in an age of product globalization. Companies of all kinds are leveraging lower-cost products and labor from overseas. It is no wonder then that the healthcare arena is also trying to cash in. By opting for offshore healthcare billing solutions, they believe they are saving their organizations money. In the healthcare sector, making savings has never been so important. After all, there are many practices that struggle with cash flow issues. So, choosing an offshore provider seems to make sense. However, leveraging cheap labor within the services sector definitely comes with risks attached. For both patients and service providers, this could cause a host of problems.
Cybersecurity Risks from Overseas Providers
At one time, criminal behavior was easier to understand. A thief could mug you for your wallet or break into your house to steal your cash. However, these days, criminals are less easy to spot. Cybercrime is on the rise. Now, someone can steal your financial data without ever meeting you in person. There is no need to physically steal cash or credit cards when people can access essential financial information online.
When utilizing an overseas healthcare billing solutions provider, the possibility of becoming a victim of cybercrime increases. This is an especially serious problem for the healthcare sector. Within this industry, billing processes will be handling a huge amount of PHI (protected health information). This information has additional statutory protection under the HIPAA regulations.
There is not any requirement that says data can only be handled domestically. However, there are several reasons why this should be a serious consideration. Cloud computing has become commonplace in recent years. However, it is moving at a pace that does not allow regulations to keep up to such a changing environment. When companies transfer billing solutions overseas, there is a significant risk of a data breach. Overseas billing solutions are unlikely to be compliant with HIPAA regulations. This means they will not protect the healthcare service providers or their patients from potential cybercrime.
It is paramount to find a reliable provider of HIPAA-compliant healthcare billing solutions.
How Can BillingTree Help?
BillingTree is a leading domestic provider of billing and payment processing solutions. Offering fully compliant solutions that are ideal for the healthcare sector, BillingTree is leading the way in offering reliable systems.
With considerable experience in the industry, BillingTree offers technologically advanced solutions to streamline the process of billing and receiving payments. Our healthcare payment solutions are fully scalable and are entirely HIPAA compliant for complete peace of mind.
From pharmacies to hospitals, all types of healthcare settings can benefit from BillingTree’s solutions. The patient/provider relationship can be strengthened thanks to a portal that is user-friendly, safe, and trustworthy. BillingTree puts in place a payment portal that allows patients to make payments using their preferred methods. Being able to pay at any time of the day or night simplifies the process. For healthcare providers, this is good news, too. When patients can pay more easily, they are more likely to pay on time. This improves cash flow and your staff members are free to handle more important matters. The result is a convenient solution for all parties.
By opting for BillingTree’s healthcare billing solutions, healthcare service providers of all types can reap the benefits. Offering a cost-effective alternative to an overseas provider, BillingTree guarantees full HIPAA compliance.