Success Story
BC Services Increases Volume of Placements by 10x and Improves Revenue Recovery Rate by 20%
Business Challenge
A reliable leader in the accounts receivables industry, BC Services has a 90-year history of helping their commercial clients more effectively manage their revenue cycle and collect on unpaid account balances.
When it was time to expand their business lines into healthcare, including insurance follow-up and early out, they needed a workflow solution specifically designed to maximize account representative efficiency.
An established Finvi client with a 20-year existing relationship, BC Services turned to Finvi for help and the Artiva HCx solution quickly became the front runner.
“We knew we needed a solution that would allow our organization to onboard new clients and lines of business quickly and efficiently, and we knew we needed a solution that met the specific intricacies of working medical debt.”
Scott Miller, Director of Strategy and Innovation, BC Services
Strategy & Goals
As part of expanding their business lines to healthcare-related debts, BC Services wanted to ensure that they expanded the patient experience past the medical visit.
The Artiva HCx solution creates intelligent workflows and automates the execution of tasks that would otherwise consume valuable account representative time and take away from their primary focus—the patient. Because of the solution’s efficiencies, representatives can spend more time focusing on the accounts that require the personal touch of humans, helping patients better understand their medical bills and their payments options.
Results
In addition to strengthening the patient experience, the Artiva HCx solution’s exception-based workflow and streamlined activity made it easier for account representatives to work accounts, dramatically increasing overall productivity. Since implementing the solution, representatives have seen a 68% increase in the number of calls resulting in patient connects—all of this during the onset of the COVID-19 pandemic.
While many businesses faced extended periods of low productivity at the onset of the pandemic, BC Services was able to continue running with little interruption, and more importantly, without any reductions in revenue recoveries for that period. Miller said, “It was a shining moment for our IT department.”
The ability to provide business continuity through the Artiva HCx solution’s work-from-home tools allowed representatives to be just as efficient and successful from their home offices and provided managers with consistent visibility at a time when many struggled to continue to maximize their business.
Miller said that account representatives view Artiva HCx not just as required work tool, but also as a solution that removes barriers and empowers them to be successful.
About BC Services
With over 2,400 clients in 50 states, BC Services has a long-standing reputation as a national service provider in the ARM industry.
