Business process outsourcing (BPO)
BPO, or Business Process Outsourcing, refers to the practice of contracting specific business tasks or operations to a third-party service provider. Companies often outsource non-core functions such as customer support, technical support, accounting, data entry, and more to BPO providers. This allows businesses to focus on their core competencies while leveraging the expertise and efficiency of specialized BPO firms.
M-Squared has skilled resources employed in various Back office BPO services sectors, which include both healthcare BPO and other general BPO services.
Healthcare back office BPO services
Healthcare back office BPO services encompass a range of administrative and support functions that are crucial for healthcare providers but are not directly involved in patient care. These services are typically outsourced to specialized BPO firms like M-Squared to streamline operations, reduce costs, and improve overall efficiency. Here are some key areas of healthcare back office BPO services that we render:
Medical Billing
Medical Billing: Generating invoices, submitting claims to insurance companies, and managing payments.
Medical Coding
Medical Coding: Translating medical procedures and diagnoses into alphanumeric codes for insurance claims and billing purposes.
Data Migration
Transferring huge quantities of data, be it patient data, protected health information or other data that are stored in one electronic health record (EHR) system to another EHR
Health Information Management
Medical Records Indexing and Archiving: Organizing and maintaining patient records in electronic health record (EHR) systems
Appointment Scheduling
Coordinating patient appointments and sending reminders to minimize no-shows
Prescription Refills Services
Prescription refill services involve the process of renewing medications prescribed by healthcare providers for patients.
Benefits of outsourcing healthcare back office services include
Cost Savings: BPO firms can often perform these tasks at a lower cost due to economies of scale and specialized expertise
Improved Accuracy and Compliance: Ensuring accurate medical coding, adherence to regulatory requirements (such as HIPAA in the United States), and timely claims processing
Focus on Patient Care: Allowing healthcare providers to concentrate on delivering quality patient care rather than administrative tasks.
Scalability: Easily scaling operations up or down based on the healthcare provider's needs.
Machine learning (ML)
Machine learning (ML) BPO services involve outsourcing specific tasks related to machine learning and artificial intelligence to third-party service providers. These services cater to businesses that may not have the in-house expertise, resources, or infrastructure to develop and deploy machine learning models effectively. Here are some key aspects of machine learning BPO services:
Data Annotation and Labeling
Image Annotation: Tagging images to train computer vision models.
Text Annotation: Labeling text for NLP tasks like sentiment analysis and entity recognition.
Model Training and Optimization
Developing and refining machine learning models based on labeled data.
Tuning hyperparameters to improve model performance and accuracy.
Predictive Analytics and Forecasting:
Using machine learning algorithms to analyze data and make predictions or forecasts.
Applications include sales forecasting, demand prediction, and risk assessment.
Data Cleansing and Preprocessing
Cleaning and preparing data sets to ensure they are suitable for machine learning tasks.Handling missing values, outliers, and normalization of data.
Benefits of outsourcing machine learning BPO services include:
Access to Expertise: Leveraging the specialized knowledge and skills of BPO providers with expertise in machine learning algorithms and techniques.
Cost Efficiency: Lowering costs associated with building and maintaining an in-house ML team and infrastructure
Faster Time-to-Market: Accelerating development cycles for ML models and applications.
Scalability: Flexibility to scale resources up or down based on project requirements.
Focus on Core Competencies: Allowing businesses to focus on their core business objectives while delegating ML-related tasks to external specialists.
Get in Touch
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M-Squared Building
Technopark Campus Phase 1 Thiruvananthapuram 695581, Kerala - m2info@m2comsys.us
- +91 471 4084000
- 9847077788
