|
Client Profile A global leader in specialty home medical equipment with a sales force that services thousands of medical practitioners and patients. Products include: High-end medical devices that require verification of insurance benefits and pre-authorization for the submission of complex medical claims Specialty medical devices involving high volume of claims Service centers onshore and offshore work jointly with patients, physicians and client sales force to ensure seamless delivery of services. The Challenge To grow profitably, the client wanted to improve cash flows by optimizing its revenue cycle. The client selected WNS after a rigorous evaluation process. The key factors for selecting WNS were: Domain expertise and experience in the healthcare sector; superior analytical capabilities; and commitment to excellence. The processes offshored to WNS include: • Sales order processing and support • Healthcare billing and collection from insurance carriers and patients The WNS Solution • Risk-based rewards and penalties to align the WNS team with client outcomes • Continuity of bridge teams and functions Ability to continue with existing systems and develop bolt-on tools • Augmentation of capacity to handle certain areas of business that provided opportunity for incremental collections Specific analytics to allow teams to prioritize claims with a greater likelihood of being paid. • Creation of comprehensive review systems to facilitate better coordination and focus among teams • Systems for monitoring and improving process quality and capabilities • Implementation of governance-based solutions to manage the client’s internal stakeholder support and communication, as well as oversight of plan implementation. Extending Your Enterprise WNS extended the client’s enterprises by transforming its revenue cycle operations, thereby increasing collections, accelerating cash flow improving customer service while lowering costs. Benefits delivered by the WNS team Increased Collections • WNS committed to a specific collections increase • WNS established an analytics-driven collections strategy • Process re-engineering, technology enhancement and modified work plans helped increase collections by four percent Improved Velocity and Visibility • WNS improved the order-to-bill process and developed modifications with enhanced collection velocity using Six Sigma tools and IT enhancements • Overall accounts receivable days reduced by 15 percent • WNS dashboards created significant visibility intodetailed lead indicators and drivers. They also improved management controls and decision-making. Reduced Costs WNS increased staffing by 25 percent, yet the total operations cost reduced by 25 percent. Retention of Key Resources The client was able to retain a high percentage of the client’s management staff, post the outsourcing relationship with WNS. About WNS WNS is a leading global business process outsourcing company. Deep industry and business process knowledge, a partnership approach, comprehensive service offering and a proven track record enables WNS to deliver business value to the world’s leading companies. WNS is passionate about building a market leading company valued by our clients, employees, business partners, investors and communities. For more such article insights, please follow the link http://bit.ly/eMHhcl
Related Articles -
accelerating cash flow, improving customer service, medical equipment, Healthcare billing, investors, communities, outsourcing relationship,
| 
