Invoice Generation
About the Client
The client is a third-party administrator (TPA) that focuses on physician services, as well as practice management and healthcare products. The exclusive services are provided to health insurance carriers, TPAs, brokers, employers, and directly to healthcare consumers.
Problem
For this particular workflow, the organization ensured previous payments were processed accordingly for their clients. If the payment was correct, an invoice was generated and submitted to the payer. Generating these invoices for each service line across the spectrum of clients was 100% manual, with workload increasing as the company was growing exponentially. As new clients were added throughout this process, accuracy issues became prevalent. When issues arose, the process of identifying, quantifying and correcting the errors became a time-consuming task. To combat the issue, additional quality controls were established, further complicating the workflow and slowing down production. Errors became too abundant, and it became obvious that it was not feasible to continue operating this way.
Solution
Vee Technologies was tasked to review the process, identify areas of automation, add resources where necessary and position the organization for future growth. Robotic Process Automation (RPA) was the ideal solution for these challenges, so Vee Technologies began their process improvement initiatives.
After thorough analysis, it was decided that bots would be deployed throughout the system. The entire process would be automated in such a way that quality analysis would become a minimal task. Additionally, the probability of incorrect invoice generation would be reduced drastically as the possibility of human errors would be removed. By improving efficiency and accuracy, the RPA-based solution would solve their manual process issues and put the client in position to add new customers efficiently.
Result
Almost immediately, the quality of completed work rose to 95% accuracy. Any remaining issues could be monitored and adjusted quickly with a minimal workforce. The bots were able to process around 100 groups per day, far more than had been previously achieved. An extremely complex process that required 10+ FTEs was automated to reduce the required FTEs by half, increased productivity and accuracy, and drastically increased client satisfaction. As the company growth continued, additional bots were deployed throughout the organization, allowing strategic growth and available FTEs to take on additional workloads effectively.
In these unprecedented times, Vee Technologies is committed to doing our part to help those in need. With the ongoing spread of COVID-19 (coronavirus) and the incredible speed at which things are changing around us, organizations are continually adapting their operations and business structure. Vee Technologies has the experience and capability to help your organization through this difficult time. We've expanded our continuity plan and infrastructure to accommodate the current business needs. Please do not hesitate to contact us when your need arises, our implementation team can have you up and running quickly and efficiently.