PE-backed healthcare business creates $20 Million EBITDA impact across multiple lines-of-business and geographies

The beginning of a strategic and collaborative journey

The client, a healthcare business and data automation company, empowers healthcare organizations to enable better patient care and maximize industry savings using its world-class cloud-based supply chain technology exchange platform, solutions, analytics, and services. It brings together thousands of Healthcare Providers, manufacturers, and distributors in North American and Europe — who rely on smart, secure healthcare-focused technology and comprehensive data to automate their business processes and make more informed, timely, and fact-based decisions.

In 2008, the client needed support in meeting stringent quality and turnaround times on faxed purchase orders (POs) to enhance customer satisfaction and drive growth. Every day, the client receives nearly 22,000 POs from numerous hospitals – in several languages and varied formats. Processing this large volume of POs within a rigorous turnaround time (TAT) of 30 minutes was beyond the scope of manual processing. In addition, approximately 8500 identification keywords were used across more than 300 supplier divisions to process a purchase order, causing inconsistencies.

To optimize resources as well as costs, the Firstsource team carefully analyzed the process, came up with the right-fit automation solution, and forecast volumes to sync staffing levels. The team harnessed our proprietary workflow platform Sympraxis® to automate data extraction and minimize manual intervention.

The result: 10X volume growth and high levels of customer satisfaction.

Expanding the partnership to amplify value

Pleased with the results of the Firstsource solution, the client went on to leverage Firstsource’s expertise to implement value-adding solutions across multiple areas:

  • Hospital and supplier onboarding: Hospitals and suppliers submit requests to add, delete or amend information in the client system. Rapid handling and completion of requests received from hospitals and suppliers across the US, UK, and EU is a top priority for the client. Our team handles these requests across the US, UK and EU and completes the registration process within predetermined TAT varying – from 1 hour / 4 hours / 12 hours to 24 hrs – depending on the sensitivity of emails and based on guidelines.
  • Content services: 3 Million uncleansed data points in client ‘s database created inconsistencies, leading to 25% customer churn. This also led to 1 Mn duplicate data points being repeatedly touched manually, creating inconsistencies in the customer database. Experienced Firstsource resources with a Life Sciences background help attribute and classify medical equipment products catalog received from hospitals. The team assigns more than 21 attributes and HCPCS codes to medical equipment based on the latest information available in manufacturer’s or supplier’s website.
  • Medical device profile creation: Firstsource resources with a Biomedical Engineering background and knowledge of clinical data created product profiles with multiple attributes of an implant using data collated from manufacturer’s website and FDA databases. The profiles are used by physicians to compare similar products across brands.
  • Invoice processing: Our team scans paper invoices, in multiple formats, raised by medical manufacturers and suppliers at Firstsource’s onshore facility in Salt Lake City. The team then captures the data and converts the invoices into an electronic format at our offshore facilities, using our robust proprietary platform Sympraxis®. The solution uses Optical Character Recognition (OCR) technology with multiple integrated OCR engines, ensuring high quality.

  • Network monitoring center: Uptick in total number of alerts, MTTA and MTTR, combined with a surge in technology incidents, resulted in end-customer dissatisfaction. We monitor the client’s cloud infrastructure, application performance, network, website, and servers in the US and the EU – round the clock – and tag issues, enabling rapid resolution.
  • Customer support: Hospitals and suppliers in the US, UK and EU submit tickets, requests, or concerns via SalesForce. The client struggled to manage its Operating Level Agreement (OLA) for response time as well as its huge case backlog – with escalated cases amounting to 1800 cases/day. We triage over 500 cases a day, rapidly resolving them. Triage TAT is under 15 minutes. The turnaround time for resolving all emails ranges from 1 hour to 24 hours, depending on case priority.
  • Credentialing support: Credentialing applicants register in the client system and upload supporting documentation. Our team handles 125 different document types, reviews applications, verifies documents, and approves / rejects them based on guidelines.
  • Managed services: Our services span contract price management, email follow-up, and outbound calling period.
  • Contract price management and purchase order confirmation:
    • Analyze contracts to identify contractual price mismatch between hospitals and anufacturers/suppliers and alert them to any exceptions

    • Follow up with suppliers via email and phone calls (outbound) for purchase order confirmation.

Solution Synopsis

  • In 2008, Firstsource deployed a workflow platform, and later upgraded it to our intelligent proprietary platform Sympraxis®, transforming faxed PO and invoice intake and processing
  • Over the course of the next 13 years, the client went on a strategic, collaborative journey with Firstsource to implement solutions across:
    • Hospital and Supplier Onboarding
    • PO and Invoice Processing
    • Network Monitoring
    • Customer Support
    • Credentialing
    • Content Services
    • Medical Product Profiles
    • Managed Services

Exponential impact across lines of business

The economic value of the benefits delivered to the client across multiple areas of business translates to $20 Million in annualized savings. We continue to support the client across all operational processes, driving continuous efficiency improvements and delivering problem solving analytics.

Content Management

  • 100% of hospitals moved above 85% discerned rate
  • 100% manufacturer duplicate volume automated
  • 95% improvement in customer satisfaction
  • Increased customer retention

Patient Self-Pay Digital Solution

  • 83% reduction in daily escalation volume
  • 60% reduction in MTTR, positively impacting OLA
  • 81% First Call Resolution, up from 62%
  • 93% customer satisfaction level, up from 65%

Purchase Order Processing

  • 10X volume growth fueled by non-English language support
  • Processed purchase orders within the 30-minute TAT
  • Processed purchase orders within the 30-minute TAT
  • Reduced onboarding time of new suppliers
  • Real-time order tracking and reporting via dashboards

Invoice Processing

  • Redacted and processed PHI data on paper invoices using Sympraxis®, reducing number of rejected invoices
  • Accelerating TAT of rejected invoices by 85%
  • Secure, encrypted emails using Sympraxis®
  • Improved customer satisfaction across hospitals
  • Accelerated hospital onboarding timelines by enabling business rules optimization and customization – by hospital

  • Real-time order tracking and reporting via dashboards

Network Monitoring Center

  • Reduction in overall incidents, pager duty alerts and cycle time of alerts

  • 50% reduction in ‘warning’ alerts for on-premises systems

  • Lower risk of IT failure with end-to-end remote monitoring

  • Superior incident avoidance enabling client to focus on

Credentialing

  • 90% reduction in document verification cycle time
  • Enabled real-time document upload and new DMT
  • Delivered 100% of the volume, backed by Covid-19 document training for Firstsource team

  • 15% increase in volume handled in just three months

Managed Services

  • Seamlessly migrated from Salesforce/Order Center to new platform, backed by Firstsource’s rigorous testing and training practices

  • Eliminated customer impact by proactively identifying and fixing bugs in the portal or implementing a workaround solution

  • Increased cost savings propelled by new platform migration
  • Enhanced AHT and increased number of cases handled the same day, elevating customer satisfaction and helping the client add new hospitals

Results

$20 Million in annualized savings via
  • Enhanced accuracy, efficiency and productivity
  • Accelerated cycle time

The partnership continues to strengthen with value creation across all business lines

As a strategic partner, Firstsource continues to constantly expand the scope and volume of work across all lines of the client business. Today, we support the client across end-to-end activities, helping it solidify its position and build competitive advantage.

  • Trained and certified 50 members from the client team on Lean and Six Sigma methodologies
  • 16 Six Sigma projects completed in collaboration with the client
  • Implemented client SCP certification-related metrics at the Firstsource end and achieved certification
  • Successfully migrated new accounts from the EU region to Firstsource in collaboration with the client

Business impact

5Million

Orders Annually


2Million

Invoices Annually


2K

Medical Products


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