Fact: Collectors contact payers for many reasons; to obtain missing subscriber information, verify inaccurate subscriber information, preauthorizations etc. In doing so, Collectors typically spend a vast amount of time on-hold after entering repetitive information in IVR prompts, only to repeat the same information once connected to a Payer representative.
Why: It’s a habit.
In spite of the necessity of calling Payers, it is not unusual for:
- Electronic claim status transactions not being available to billing organizations.
- Staff members being easily distracted while waiting to speak with a Payer representative.
- Collectors not having a user name and password to payer websites. And the list goes on!
What’s the Impact?
It’s enormous. Clients have reported an average of 2 hours of lost time, per agent, per day. That’s 42 hours a month, or 500 hours of lost time per year! Does your organization review call logs or other reports from the ACD? Even if you did, how would you determine the amount of time spent on hold? Ironically, extensive Payer hold time is one of the largest complaints from Collectors, however accepted as an industry status quote. Additionally, there is no management in place to measure, validate or contest the time spent on hold. ReveMed Technologies is striving to change this status quo!
What is ReveMed Technologies doing to Help?
We talk with Payers everyday to improve our electronic claim status transactions. This allows us to have a pulse on hold times, per Payer, throughout the day. By combining this experience with automation and proprietary knowledge, ReveMed Technologies is introducing the Payer Concierge Service.
What is Payer Hold Time Index?
Think of streaming hold time updates throughout the day to Payers that matter to you. Why call a payer if you know there is currently 20 – 25 minutes of hold time?
Tell us More!
Trending information of hold time rounds out the solution. Get started by immediately by identifying the Payers with the longest hold times. Do you know who they are? Now start doing what no one else is … scientifically measuring, in real-time, the severe impact that extensive hold times have on the productivity of Collectors on a daily basis.