How Much ROI You Gain By Hiring A Medical Virtual Assistant
The pay scale for virtual medical assistants is one of the biggest reasons it produces impressive ROI, and it has become a top choice for practices as a result.
If you're thinking about hiring a VA but are not sure if it's worth it or have questions about how it will work, keep reading. We explore the benefits of virtual assistants and what exactly they can do for your practice ROI.
Today, we'll break down both questions so you can feel confident when considering hiring a VA in your practice.
What exactly is a virtual assistant?
A virtual assistant (VA) is a remote employee that supports your practice from the outside. As more medical practices use remote workers, you should know that VAs are great off-site employees.
Virtual assistants allow medical practices to outsource tasks that don't require physical presence. Here are some common administrative tasks that can be outsourced with a virtual assistant:
- Taking and returning phone calls
- Insurance filing and claims
- Medical billing
- Taking notes during appointments via a secure software
- Updating patient Electronic Medical Records.
- Scheduling Appointments
- Transcribing notes and a lot more!
When you hire a virtual assistant, they will be available to work for you during your scheduled work hours. Whether it's just part-time or more than full-time, you can decide how much time they spend on your project.
If you're tired of juggling employees, try out a virtual one! Employees have daily tasks and feedback that's collected during the day. You'll be able to keep in contact with them and reach out as necessary using chat, email, or video call.
What is the cost of hiring a virtual assistant?
One of the biggest reasons virtual healthcare assistants can produce a high ROI is their pay scale. There are many associated costs with hiring an in-house employee, like a receptionist or medical assistant. Overall, it may be more costly to hire staff for companies with smaller staff or single providers. In these cases, owners frequently end up being burned out and overworked because they don’t want to invest in professional help.
The average virtual assistant salary is $10 per hour. For the same price, you can tap into four full-time virtual assistants who are experts in their fields. Virtual employees give small practices the chance to staff their offices on a budget.
Virtual assistants are popular for a lot of different organizations, but they're especially popular for small practices. With inflation at an all-time high and the Covid-19 labor shortage driving wages up, many practice managers are hiring virtual assistants to solve their labor crisis.
How Medical Virtual Assistants Can Increase The ROI of your Practice
Imagine what your practice could accomplish if it had enough high-quality employees to get everything done right, on time, and at a fraction of the cost. You'll enter this world when you hire a virtual assistant. Here are just a few of the ways hiring a virtual assistant provides striking ROI and makes you better money.
Zero Overtime Payment
That's because VAs usually live and work outside the country, meaning that American labor laws don't apply. So you can get all the work done at a reasonable fee with no worries about paying extra hours
No benefits Payment
You're never obligated to pay for benefits with our virtual assistants because they are technically employed by a third-party agency. That means no health insurance, dental insurance, workers' comp insurance, or other benefits. The hourly minimum wage in your state is exactly that: the minimum!
Secure Highly Skilled Employees At Affordable Rates
Finding a highly-skilled employee at a reasonable price is tough. Usually, these types of employees are in high demand and their salaries are significantly higher than most. If you’re looking for an affordable way to up your company’s skillset, look towards the Philippines. Their citizens typically have a better education than people in other countries, which translates to lower costs for labor needs and more years of experience.
Focus On Generating Income
Providers can focus more on making more money when they hand over time-consuming tasks like updating EMRs, returning calls, data entry, and transcribing notes to a virtual assistant. An hour's worth of patient visits is worth exponentially more than the rate the virtual assistant pays, so it should produce an exponential ROI.
Prevent Doctor Burnout
Many doctors are struggling with burnout, which is when a person feels overwhelmed or stressed to an unhealthy level. Burnout causes some negative impacts on the practice's bottom line and this can lead to issues like trouble with cognitive skills, memory, and decision-making. Fortunately, physicians can minimize this by delegating tedious tasks to a virtual assistant.
Excellent Customer Service Delivery & More Referrals
What frustrates patients about their doctors? They want speedy answers to their questions, can't get in to see the doctor as soon as they need to, and can't get a response from anyone on the phone when they call. Virtual assistants will make your life easier! They answer calls, return messages, and respond to online inquiries in real-time all virtually.
When some of the work that is normally done by the doctor is offloaded to a virtual assistant, their schedule opens up so they can see more patients. This makes it simpler for patients who need appointments right away.
Virtual assistant ROI is practically limitless, so there's no reason to not try it out.
A virtual assistant is a valuable and rewarding addition to any clinic, practice, or business. That's why there are many ways you can benefit from this service.