The Technology-Driven Future of Third-Party Logistics (3PL)

The industry of Third Party Logistics (3PL) is going through dramatic transformations, which mean that the upcoming years will be quite momentous for its future. Although customer satisfaction has been decreasing over the past few years, 3PL providers are preparing to take the opportunities and challenges presented by the most recent advances in technology head on. Those that are optimistic as well as technologically savvy are seeing a very bright future for the industry, but the future is already here.

logistics technology

The face of 3PL is more than likely going to change due to augmented reality, drone delivery, driverless vehicle, 3D printing, internet of things (IoT), Big Data, cloud computing and mobile applications. Some of the technologies are currently being utilized, others remain within the testing phase. Regardless of the state that they are in, the technologies are before us presently and it only a matter of time before implementation can be achieved successfully.

Innovations are Driving a Service Market

It should be keep in mind that the main focus of the technologies is to enable the companies of 3PL the ability to engage, collaborate and connect with their clients as a whole seamlessly so that the quality and speed of service can be improved.

Imagine a day when packages no longer become misplaced or lost and when drones or driverless vehicles are able to deliver shipments to a customer’s door. Additionally, consider that when this day arrives, consumers will be able to monitor the progress of their shipments in real time, making their prospective businesses more effective and dependable.

With the rate of technologies and software solutions that are cropping up within the logistics industry, there will be only a matter of time before the logistic process will become automated in its entirety. Human interaction will still be provided for tasks that are deemed critical. Yet, the automation of the logistics process will increase the rate of delivery and transportation as well as decrease unneeded costs and human errors. This will assist managers with their ability to make accurate and swift decisions in addition to ensuring the safety of the goods being transported.

The Speed of Technology is Driving the Current and Future State of Logistics

3PL is being thoroughly revolutionized by mobile technology. A great number of third-party logistics companies within the industry have begun to utilize mobile applications and devices as a method of improving upon agility.

The devices that are being used have been outfitted with radio frequency identification (RFID) chips. The RFID chips are not only able to transmit location, but additionally they have the potential to hold data for instant identification and tracking. With the use of mobile applications via a mobile phone, consumers will be able to, at any time, place an order, process and track freight shipments.

The Enablement Age is Empowering Shippers and 3PL

Internet of Things (IoT) is a revolutionary technology that will deliver products and devices with the ability to communicate with one another within a network. In the (near) future, products and devices will have an RFID implanted within that will be used for them to identify themselves. This will allow consumers to know precisely their location in a warehouse while gaining information regarding its surroundings that will be transmitted to handlers.

The integration of cloud based technology will make the inroads into business faster as it heralds in the age of big data. Presently, businesses across all platforms are beginning to utilize applications that are cloud based so that the information can be accessed from anywhere.

5 Tools to Improve Billing Processes of Health & Medical Organizations

Similar to any business model, health and medical organizations are faced with a number of operational challenges. One of the most common involves improving the internal billing processes to ensure a sufficient revenue stream to keep the organization financially healthy.Medical billing

Since sending-out patient billings in a timely manner is directly tied to the amount of income received, improving this area of the medical practice is not a luxury that must be addressed, but rather a necessity.

For this reason, it is important for these organizations to identify and implement initiatives and programs that will help to resolve any medical billing problems that exist. Many of which may include utilizing the following strategies, tools, and resources.

Benchmarking

As technology progresses, its not uncommon for both small and large health and medical organizations to review their billing systems for inefficiencies. Specifically, those that cause the bills to their patients and clients to be sent out on an untimely basis. When this occurs, the organization can begin to lose money in a wide variety of ways including in the interest that may be loss be depositing the funds late instead of late.

Because each day can make a major difference in many large medical practices, it is important to have the best billing services at all times. With this being the case, one of the best ways to solve some of these issues is to benchmark with similar organizations to see how they are handling the same. The health and medical organizations selected should be those who are known for having stellar technology and billing practices.

Investing in Training

Investing in training is also essential to the success of a medical billing organization as well. For instance, once a new system has been selected, the organization should make sure that they have set aside time and money for their staff to be trained properly. This type of training is designed to help the entire organization to be up and running efficiently when new systems are being implemented.

Attending Medical Billing Conferences & Seminars

Many times businesses pay for their employees to attend medical billing conferences and seminars that apply to their job responsibilities. These conferences and seminars are usually very beneficial in numerous ways, especially since they are designed for motivating people to be better at their craft. These medical billing seminars and conferences are also ideal for teaching employees when legislations that apply to their jobs change, and when they must be acted upon to remain in compliance. Some seminars also vital for those who will be selecting new billing systems that the organization uses in future times.

Investing in Medical Billing Software

Sometimes a medical organization may be hesitant about investing in new medical billing software. Specifically, when the cost of buying it makes a significant dent in the practice’s budget. However, it is important for the medical admin staff to do their homework before turning these new systems down.

One of the most important reasons is, some of the newer systems can easily pay for themselves in effectiveness and efficiency within a short period of time. Thereby, saving the organization time and money in the long run instead of reducing the budget. Check out some of the top medical billing software platforms by clicking here.

Hiring a Medical Billing Consultant

Its not uncommon for any organization to hire a third party medical billing agency to assist them with improving their billing systems. In fact, an outside party is normally skilled in their craft and they can identify inefficiencies in medical billing systems quickly without having to spend a lot of time. For instance, some agencies specialize in certain aspects of medical billing, such as chiropractic billing, cardiology billing, and even Federally Qualified Health Center (FQHC) billing services

Also, by hiring a medical billing consultant, they can share the information that they have already learned about industry standards and the best ways to improve an organization’s with minor to major recommendations.