2019 looks to be a booming business for outsourcing functions according to recent study by Black Book, which cited that by 2022 average hospital costs must be reduced by 24% to break even and outsourcing may be the solution. Outsourcing departments such as technology, financial services, and facilities management services have been long established ways for hospitals to transfer day-to-day administration of non-core functions to outside vendors. However, the drive to deliver value-based care at the highest quality is pushing nine of ten hospitals to consider outsourcing to provide clinical expertise, as well.
“Hundreds of outsourcing firms are creating a niche by specifically focusing on healthcare clients only,” said Doug Brown, President of Black Book Research LLC and the author of the 2009 global bestseller “The Black Book of Outsourcing” (Wiley Publishers).
“Some leading vendors have recognized the need to bundle services that are only relevant to hospitals and inpatient groups such as IT, cybersecurity, clinical services, analytics and health facilities management.”