With payments processing accounting for 80% of costs, efficient payments management is critical to payer organizations, both in terms of reducing operational costs and ensuring customer delight. A quick turnaround, combined with high quality and accuracy in claims processing can enhance customer experience and improve a payer’s wallet share. However, manual, inconsistent processes, fraudulent claims, and siloed systems can pose significant challenges to businesses in improving productivity and customer experience. Furthermore, the increasing complexity in payments processing and the need for multi-channel customer engagement require flexible, integrated processes with end-to-end visibility.
What We Offer
Virtusa’s Payments Transformation solution facilitates an efficient claims management process, resulting in increased productivity and reduced paper claims processing cost. It enables end-to-end processing of healthcare claims, and offers an optimally designed product repository for reduced maintenance efforts and faster creation of new products. Through process automation, the solution improves accuracy of paper claims adjudication, eliminates errors related to misfiled documents, and improves compliance for audit trails and claims tracking. It further enables seamless integration with digital aspects (such as emails, outgoing documents/EDI messages) to deliver a significant improvement in quality, resulting in enhanced customer satisfaction.
How We Deliver Value
Our Payments Transformation platform enables superior processing across multiple lines of business and product lines. Designed to meet compliance as well as region specific security and data privacy requirements, it leverages our Accelerated Solution Design (ASD) methodology to rapidly prototype and roll out solutions. Expertise accumulated through multiple implementations has enabled us to develop a complete suite of artifacts for all stages of the development lifecycle. These artifacts accelerate the deployment of transformational programs for insurers.
What Sets Us Apart
We take an innovative, model driven approach - consisting of an automation framework at its core - to validate functionalities and reduce time to market. Our experience in Lean Operation Management and Business Process Optimization enables robust claims solutions for better business results.
Benefits We Offer
Our solution offers significant business benefits including:
- Upto 40% increase in claims operational efficiency
- Increased auto-adjudication rates due to automation
- Rapid creation and modification of business rules, does not require re-coding of the system