Global healthcare supply chain company accelerates turnaround time of rejected invoices by 85%

Background

Our client, a private-equity owned healthcare business and data automation company, is on a mission to create an operationally efficient healthcare supply chain. Its technology-based platforms, analytics and solutions, bring industry players together, increasing efficiency and driving down costs across the supply chain.

Business challenge

The client needed support in improving turnaround time of rejected invoices and reduce percentage of rejected invoices containing Protected Health Information (PHI)

The client helps 36 hospitals across the US to efficiently process invoices, enabling full visibility and ensuring rigorous contract compliance. Every month, the client receives nearly 150,000 invoices from over 10,000 suppliers. Its on-demand invoice processing solution automates various aspects of the invoice process, including invoice receipt, document image and data capture, and workflow management, leading to lower costs, improved efficiencies, and faster processing. But two major roadblocks were hampering the efficiency of the automated solution.

  • Roadblock #1: It took the client nearly a week to receive rejected invoices data (about 2% of the total volume). The reason: the rejected invoices had to be manually scanned and then physically shipped back to the hospitals after data capture.
  • Roadblock # 2: In March 2020, the number of invoices rejected due to the presence of PHI information on the invoice, shot up to about 3% of overall rejects due to instruction changes – from just 0.4% earlier.

Firstsource solution

Firstsource leveraged its proprietary workflow platform Sympraxis to automate rejected invoice data capture.

Firstsource’s technology team collaborated with the client to automate the data capture of rejected invoices. To address the first roadblock, the Firstsource team leveraged its ‘Digital First, Digital Now’ approach and harnessed its proprietary workflow and case management platform Sympraxis to automate data extraction and minimize manual intervention. Sympraxis leverages an Optical Character Recognition (OCR) rules engine to accurately extract relevant information and converts them into an electronic format. The electronic invoices are then emailed to the client instantly. Not only did this significantly reduce the turnaround time of rejected invoices from one week to 24 hours, but it also eliminated the shipping costs associated with mailing the rejected invoices back to the client.

Similarly, the OCR engine of Sympraxis automatically identifies invoices containing PHI using PHI-related keywords and sends them to the different workflow for PHI redaction and further processing.

Business impact

Firstsource’s automation solution drove several tangible results including:

  • Reduced turnaround time from 1 week down to less than 24 hours
  • Elimination of Delivery Services cost
  • Reduction of rejected invoices
  • Zero PHI-related rejects by redacting all PHI- related invoices with 100% accuracy

100%

Data accuracy


< 24 hours

TAT reduced from 1 week

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