Case Study
Establishing a foundation for future growth at top technology firm specializing in revenue-cycle management for healthcare
OUR CLIENT
Our client is a revenue-cycle technology firm working with 60% of U.S. hospitals and thousands of private practices, pharmacies and labs. Their 30+ product portfolio supports every function along the care continuum, including estimates, billing, claims and clearing house.
THE CHALLENGE
Streamlining processes and standardizing frameworks
When the client first approached UST ContineoHealth they were experiencing significant service backlogs. Past acquisitions had resulted in disconnected sales, product, technical and implementation teams. Overutilization was happening across the board; the utilization rate was trending at ~110-120% (compared to the standard 85%), and they were still unable to service all of their clients in a timely manner. Our client needed an architected solution to streamline processes and deliver solutions more quickly and efficiently.
THE TRANSFORMATION
Optimizing systems with a provider focus
UST ContineoHealth wanted to find solutions that would provide a solid foundation for future accelerated growth. Our methodical research included customer interviews, persona development and surveys This provided us with the inputs to spur faster implementation and create better processes leveraging clinical, revenue cycle and operational expertise. These new systems balanced utilization and put the focus on improved service to providers.
To break up staff silos, we did a complete overhaul of existing processes while still keeping industry best practices in mind. This involved restructuring existing teams to support future growth, creating a hierarchy of tasks based on complexity and identifying specific opportunities to provide greater client access while sharing risk. We also addressed challenges with internal teams related to organization changes and backlog management.
THE IMPACT
Client meets utilization goal, efficiency improves and revenue grows
Thanks to UST ContineoHealth’s efforts, process optimization resulted in $1.2 million in net new revenue over the course of a year, as well as a related annual savings of $2 million. By increasing implementation velocity, another outcome was an anticipated 5-10% increase in long-term efficiency gains and $8.5 million in new revenue.