Customer Centric Solutions

Listening and Understanding Counts in Collections 

For all of us in the services industry, especially my realm of 3rd Party and Order to Cash Outsourcing, the relationship and the trust to solve complex problems is one, which can be missed during the buying cycle. I often realize though the complexity of day-to-day business how critical true partnership is and one, which should not be forgotten in the crucial matching of the supplier relationship.

My main focus, as an owner of the client / customer experience, it is my job to take the complex issues and turn them into quick solutions for our clients. In the world of 3rd party collection and being the support mechanism between creditor and debtor, this can be a challenge. Over the years I have learned to hone my skills and bring experience plus practical solutions for our customer service team, customer and ultimately their customers as a solution provider. This requires a skill, which seems to be lost in some sense, listening and understanding.

Most of the issues and resolution in credit and collections comes in the form of a dispute or financial difficulty on the debtor’s part. While we are at our best when solving a client problem, working with a debtor maybe challenging and our collectors need the support of their client liaison to accelerate a solution evolving our client. In some cases the added stress and pressure to make good on a large balance due and the personal attachment to a business can bring forward some interesting attempts to contort and distort the real issues. As our collection associates and clients provide vast amounts of data and analysis, we need to take into consideration some of the most important traits of working with multiple groups and ultimately, people. The facts and data provide us with the starting point and deductive reasoning and a good network of skilled solutions oriented resources the rest. The needs for these skills and the ability to have mutual trust through actions are sometimes missed in our industry but for me a clear differentiator in the services industry.

Practical thinking and passion for delivering to the client a quality of service with the right construct to their expectations is not an easy task. But spending your time and effort to understand these needs and expectations goes a long way in clearing the path for a long-term partnership. I have spent many hours with our clients, which are valuable hours as to get the process right and ultimately time and cost of ownership savings for both. Understanding their business and listening to their needs as I stated is unfortunately becoming a lost practice as more and more need for speed drives assumptions and ready-made answers. Grounding ourselves in this service based economy and respecting the needs of the mutual business partners and customers is crucial to best business practice.

As a day in the life of working in a fast paced environment and making each customer a priority can be a challenge in most businesses but mutual investments have been made and value relative to revenue large and small can be made a priority. A careful selection of resources aligned to delivering what has been promised and load balancing your infrastructure, as an investment to serve the client is a simplified way of making sure all inquires and issues are handled as designed with the client. Additionally providing the right working environment to reduce turnover and unplanned change is your risk prevention. Change occurs, people move on but the right people grow with your business and clients long term. Your back up plan, always a highly skilled team to move up and continue the consistent quality of service and relationship always..

When specialization is required, collaboration between all is enabled by good customer practices and bringing forward the best solutions and skills. Trying to do it alone will not strengthen relationships but quickly result in disappointment. It has been my 15+ years mission to have this careful attention to detail delivered in each client engagement by using a full network of people and tools to not be seen as the king of all customer service but a practitioner of bridging relationships for the best outcomes. Networking people and the growing of relationships is truly the best part of all, isn’t it?

Some lessons learned across the way of working with diverse customers, sectors, and people globally which I would say are attributes which make for great experiences. My favorite part of all engagement is the respect, which comes with giving respect and gaining the accolades from positive customer retention through solid outcomes. While service providers such as us in 3rd party collections or providing an outsource service can generally be the deciding factor on revenue recognition, reduced write offs or the hand holding agents through a legal process, listening and understanding are what count in professional and personal success. Automation increases the speed of delivery but personalization and care keep a client and bring business growth.

-Matt Stachkunas, Customer Service Manager 

Rimilia and VWi (Vengroff Williams Inc.) Sign Strategic Global Partnership

November 16, 2017 – Rimilia, a developer of intelligent automated financial solutions, has signed a global partnership deal with business-process outsourcing expert VWi (Vengroff Williams Inc.).

VWi is an expert in cash and revenue management business process outsourcing that oversees in excess of $15 billion for 2,000-plus customers such as Yamaha, Symantec, Progenity and Tricon Energy. 
Under the partnership, VWi customers will have access to a collaborative model and unique instance of Alloc8, Rimilia’s cash application software.  
Rimilia Alloc8 automates the manually-intensive process of matching payments, including ACH, wire, checks and EFT, to receivables. With auto-matching rates up to 94 percent, Alloc8 improves the quality and speed of cash allocation and revenue recognition. Alloc8 also dramatically reduces lockbox costs, increasing lockbox hit rates up to 95 percent. 
Steve Richardson, CCO of Rimilia said: “VWi has an outstanding reputation for its expertise and innovation in Order to Cash business processes across multiple industries; it’s a privilege to partner with a company of this reach, experience and reputation. This new partnership will play a key role as Rimilia continues to grow its global footprint and demonstrate to the U.S. market why our intelligent financial robotics continually outperform other solutions.” 
Robert Sherman, CRO of VWi said: “Rimilia and VWi bring together a highly-automated end to end solution for the acceleration of robot process automation (RPA) and cognitive learning applications across the Order to Cash process.  Our mutual culture of client collaboration and advanced automation agenda provides a platform with managed services as a unique option to the marketplace. With Rimilia Alloc8 now enabled within our platform, clients are utilizing the additional value gained to further transformation backed upon a lower total cost of ownership provided under our partnership”. 

About VWi (Vengroff Williams Inc.)
Founded in 1963, with over $15 billion under its management, VWi is a leading business-services provider relied upon by more than 2,000 global clients to transform their businesses into leaner, more dynamic, agile and efficient operations. With a consultative approach to providing a full range of end-to-end solutions, VWi’s enterprise solution team delivers a highly automated and optimized environment for their clients. VWi delivers services globally with a core focus upon onshore delivery under a highly automated managed BPO offering.
About Rimilia
Rimilia provides intelligent, automated financial solutions to dramatically improve cash application, remittance services and credit collection processes. 
Harnessing machine learning, predictive analysis and artificial intelligence, Rimilia enables corporates, lockbox providers and Fortune-1000 businesses to increase throughput, resolve unaccounted payments, gain transparency of transactions, and apply valuable predictive insight and dynamic decision-making into payment processes.
Rimilia’s Alloc8 software automates the manually intensive process of matching payments with expected receivables with auto-matching rates up to 94 percent, dramatically improving the quality and speed of cash allocation and revenue recognition. 
Customers include Adecco U.K., Avis, Biffa Waste Services, Hitachi, TalkTalk, Santander and Wesco Aircraft.
Founded in 2008, Rimilia is headquartered in Bromsgrove, U.K., with U.S. offices in Richmond, Va. Investors include Eight Road Ventures and Kennet Partners. It employs 90 people and is privately held. 
Twitter: @rimilia
Press contacts: 
UK: Kinga Kopycinska
Tel: +44 (0)1527 872123  
USA: Hazel Butters
Tel: +1 617 530 0500 
VWi: Robert Sherman
Tel: +1 714-889-6200

Healthcare Claims, Denials and Rejections: Building process improvement from collaborative insights

Healthcare related businesses come with their own unique set of management challenges from patient experience, processes, and technology. With a growing set of compliance requirements and intricacies for the billing processes, when coupled with patient needs and expanding payer requirements, the task of staying current in the day to day becomes vital to cash flow. As these challenges tax clinical and administrative teams, executing upon denied and rejected insurance claims can start to backlog. Insurance Payers understand this and, in some cases, count on the delays and lack of resources to delay payment. So how can we improve upon this stage of the billing process to optimize cycle time to cash?

Denials from insurance companies are notification to the providers that the claim in its original form does not meet the requirements for reimbursement. This can range from the minor checked box to more substantial processing of the claims data such as missing test results, patient documentation, etc. We can go deeper still as to the time-sensitive nature of denials and each insurance company has differing guidelines for timely filing. To this point, every payer has a different window for submission, from 30 days for initial claims to 90 days for resubmission. With a tight window for correction, quick action is paramount to success.

Denied claims should be monitored and quantified, reason descriptions allocated, and a method of follow up applied. At the time of payment application, all denials should be updated with denial reason codes, allowing for insights and analytics to identify your material process strengths and weaknesses. Collecting as much data as possible allows for actions and prevention of revenue leakage while supporting process improvement strategies, your insights, and analytics. Building the basic tracking and quantified causes by payer becomes a logical next step. Once the behaviors are visible, proactive planning and process strategies may be implemented. Or better still, negotiation points for your contractual arrangements.

Denied and rejected insurance claims can make the difference in an optimized revenue cycle management process and lend to faster cycle time to cash but also an improved patient experience. Spending the time to exam the full processes from new patient enrollment, pre-authorizations and through denial follow up and recovery will be completed in your internal process improvement strategies or part of your outsourced engagement model. In any model, optimization of cash performance is our role and with the access to internal or external resources, the business case for resourcing this area effectively creates greater value in maximizing claim value.

Rob Sherman, Chief Revenue Officer of VWi

Patient Experience Across Revenue Cycle Management

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Patient Experience Across Revenue Cycle Management: It Counts in Cash

Over the 18 years I’ve been in the healthcare outsourcing field of RCM, I’ve learned efficiency in healthcare billing doesn’t have to be complicated. Although many trends have come and gone, there are 5 key rules that drive highly successful people to consistently exceed expectations and are very straightforward, more so than you may imagine. So let’s count it down:

  • 5. Cohesion – Values and culture act as a North Star on the path to accomplishing our goals. Aligning outsource partners with your internal values creates a unified team with vision and priorities. In our case, as a RCM outsourcing provider, we adopt and look to absorb our client’s culture. A successful partnership is cohesive and transparent with effective communication and trust flowing in both directions.
  • 4. Expertise – Of course, this seems straightforward but healthcare business process outsourcing is immensely encompassing when we delve a little deeper. True expertise in healthcare RCM goes far beyond the hard mechanics such as compliance and efficiency. True expertise includes factors such as empathy (identifying with patients on a personal level, understand to what they are going through). It is having the emotional acumen to respectfully guide a positive resolution, helping the patients, their families and our partners to smoothly navigate the path to recovery.
  • 3. Technology – Pressure will continue to be applied to budgets driving the need for efficiency, automation, and analytics providing insight to the changing conditions ahead. With the right platform effectiveness of a team can be realized, quantified and refined. With the proper balance of People, Process and Technology phenomenal performance gains can be made. Though, in seeking efficacy multipliers such as these, it is important to never lose sight of the patient relationship.
  • 2. Relationship – With the easing of manual processes, it is crucial to leverage human capital intelligently. Performance in the healthcare RCM space and the patient relationship are directly intertwined. The key, focusing the right resources where they count and in turn driving the most valuable level of care and relationship to successfully cure past due balances. The better the patient relationship, the better the payment metrics. The better the payment metrics, the better the client relationship. 

    As we know, patient satisfaction is highly correlated to a patient’s choice physician and facility should they require care in the future. Which leads us to rule #1:

  • 1. Patient Experience – Parents, grandparents, spouses, friends, family and loved ones. The person on the other side of phone calls or correspondence may be anyone these, and under a different set of circumstances it could be you or me on the other side this exchange. Make the conversation matter. Make it bigger than just a call to recover a bill. Raising the bar to what a positive patient experience is. All of the previous rules lead to this point. Patient Experience is the number one priority which multiplies all others including desire to pay. Focus on delivering an informative, helpful, compliant, valuable and pleasant patient experience and all other key metrics will rise as well
  • Patient Experience is the key to greater collections in healthcare, and through my 18 years in the field, these are the essentials to excelling in Revenue Cycle Management that I’ve found most effective for our clients, our teams and myself.

    – Erin Wilson, Healthcare BPO Project Manager of VWi

Value based solutions are the focus, not service delivery location

The previous economic downturn has ushered in the politics of protectionism. Sending business to foreign shores to create jobs, infrastructure and skills overseas, when these are needed so desperately on native shores, has a negative impact on corporate and political goodwill — a valuable asset for public image.

In the face of current turbulent times, opting to go onshore to create teams of highly skilled and knowledgeable employees locally is good judgment for many companies – particularly those seeking increased service levels and a higher degree of overall customer satisfaction. Notwithstanding the obvious advantages of offshoring, most companies would still prefer to buy domestic. A CFO magazine survey of more than 150 finance executives showed that only about a third outsource any finance work, and the vast majority of those — 83% — keep delivery onshore.

Corporate managers are simply getting over their infatuation with lower cost international labor and analyzing the total long-term costs of doing business locally compared to say — China or India. There is a dollop of icing on the cake here as well. The topic of focusing on on-shoring to boost employment levels seems to be an area of agreement between bickering political parties the world over.

The past 12 months have also been characterized by social and political unrest, particularly in many developing markets. This has demonstrated the geopolitical risk of locating business services abroad and alerted corporate decision-makers to the fact that while offshoring delivered benefits to the balance sheet, it brings with it the very real possibility of denial of service and the business challenges that come with this.

These factors have shifted the context of a CFO’s thinking when tackling with the offshoring vs. onshoring debate. Yet, what has become more critical to CFO’s is simple – the growing momentum to hire and employ using value based mentality. In other words, corporate executive are thinking diligently about the right operating model for the right outcomes – at the right time. What delivers value to corporations is the investment in people and innovation so that businesses get more time to spend on managing their core business and don’t need to worry about the viability of a location strategy. Undoubtedly, the future direction of the outsourcing industry will see relationships with clients who will be a combination virtual and value based delivery.

The offshoring trend continues, yet in recent years, more companies are finding it beneficial to reverse course and move select operations closer to home, back onshore. The objectives of CFO’s and credit executives when outsourcing Order to Cash functions are the pursuit of cost savings, increasing core business management availability and accelerating transformation. However, along with potential controversy from overseas outsourcing comes a series of real challenges for corporate finance: the risk of reduced cost savings, increased overhead for communications, project overruns, language barriers, risk of poor service, loss of business knowledge and security breaches.

At a time when corporate social responsibility is considered a significant factor in business success, companies may think twice about employing workers in countries with poor human rights records or overly lax labor standards. In the case of customer service, some organizations are deciding it makes sense to focus upon value and outcomes rather than location. And for certain corporations, theirs is an inherent sense that their customers simply prefer to do business with firms that commit to a domestic workforce and add to this the fact that high quality, affordable labor is available in U.S. markets, and it is not surprising that the onshoring trend is gaining currency.

Bob Williams, CEO of VWi