Every company, regardless of size, will have a need for data processing and data analytics. Making sense of raw data and turning it into meaningful information is important in helping businesses make strategic decisions. Data processing can go beyond simple data capture and data entry tasks and can also require higher analytical thinking and analysis to produce information that is accurate and actionable.
Data processing is one of the first, and remains one of the most common business processes to be successfully outsourced. Here are the 4 reasons why you should consider outsourcing your data processing needs:
Reinvest Your Time and Money
Managing and processing large quantities of data is time-consuming and requires a lot of resources. By outsourcing data processing, you can reinvest your and your in-house staff's time to focus on core business processes. You also get to save up to 60% on costs, which you can allocate to improving your products, services, or other important facets of your company.
Outsourcing providers that specialize in data processing have various technologies to handle different kinds of data processing work, from simple to complex tasks. These providers also have the people, skills, and processes in place to efficiently process large amounts of data in the most time effective way.
Offshore providers have the ability to work around the clock, guaranteeing a quicker turnaround time and enabling your work to be processed outside of your usual business hours.
Your outsourcing partner can scale up or down operations easily, at no additional costs to your company. This gives you a lot more operational flexibility and avoids unused resources within your own company.
MicroSourcing has been processing data for a wide variety of companies for a long time, and we can help you establish your own custom-built data processing unit in the Philippines.
by: Sidney Liquigan
Monday, September 17, 2018 | Comments (0)
Category: Outsourcing Research / Trends
There is much more to medical billing and medical coding than their names suggest. Collectively referred to as revenue cycle management, the process involves eligibility, payment, coding, charge posting, along with other critical tasks that are reliant on each other and are all necessary to receive your payment accurately and on time.
In order for medical practices to perform core duties better, outsourcing medical billing and coding is a great way to make sure that you have the right resources to stay on top of your billing. There are a few questions you need to ask your service provider when looking for a potential outsourcing partner.
What is the level of experience of the provider's employees?
Medical billing and coding is a complex process and should be delegated to professionals who have the right experience. It is important to know if the provider has the specialties you are looking for and if they have enough experience to handle your requirements. When you outsource to managed operations providers like MicroSourcing, it will be up to you to set the requirements or job descriptions, so make sure to tell your provider the level of experience and technical capabilities you require.
What are their credentials?
Usually, you can see on the provider's website the list of certifications and licenses they have. However, knowing this does not always guarantee that they can meet all your requirements. For outsourcing providers, ask if they have the capability to host HIPAA-compliant operations.
Medical billing and coding involves handling sensitive and confidential information. Ask the provider about the procedures they have to protect privacy of information. Ask about their data security standards like ISO 27001 and their experience and certification for these standards. Make sure that their technology and communication channels are secure and consistent with compliance requirements.
How adaptable are their services?
Ask them about their ability to work around your processes and if they have the flexibility to do so. Minor changes can take place, but the medical billing provider should be able to adapt to the processes that you already have in place.
What is their contingency plan?
Every business should have risk management plans in place. Ask the provider about their Business Continuity Plan and run through a number of scenarios to make sure that the BCP capabilities of your potential outsourcing partner match those that your business needs.
Can they provide you with references?
Some providers will show you case studies on previous clients and how their processes and services were executed. You can dig deeper by asking for references that you can contact to ask about their experience with the provider. You can also look around online to find reviews and testimonials.
MicroSourcing's managed operations model allows you to outsource your medical billing and coding work to the Philippines and have full control over the operations at the same time. The processes and resources will be up to your specifications, while we provide all the support services and assets that your account will need. We will help you manage your Filipino medical billing and coding team.