Client Results Case Study: Cost Savings
A Fortune 250 company was using a competing claims administration platform. They were increasingly frustrated with the high (and ever-increasing) cost, especially given that they also had issues with the platform, such as lack of flexibility and concerns about security. At the same time, they were concerned about the time and effort that a transition to a new provider might involve. They approached Gnarus to learn more.
The Challenge
The client wanted to switch but, having been with their then-provider of claims administration and insurance billing services for a number of years, needed to better understand what that would look like.
- Would a new platform meet their needs?
- What were the potential risks, such as accurately and comprehensively transferring of many thousands of historical claim and billing records?
- How much time and attention would they need to dedicate?
- Would there be cost savings, and would those savings be worth it?
The Solution
The client approached Gnarus and asked for a plan. Gnarus put together a draft platform to show how the data would be managed and displayed; outlined the security parameters for the platform (including a dedicated virtual server); and, prepared a detailed transition plan that ensured that all historical data would be successfully migrated, that the insurance billing would seamlessly continue, and that it would require no involvement from the client itself except what they wanted, such as periodic status updates. The transition would be fully complete in less than six months.
And the cost? The monthly fees would be 50% less than their previous provider, totaling savings of hundreds of thousands of dollars per year, so the small upfront transition costs would be covered in a few months. A multi-year contract with agreed-upon escalations guaranteed cost certainty.
The client approached Gnarus and asked for a plan. Gnarus put together a draft platform to show how the data would be managed and displayed; outlined the security parameters for the platform (including a dedicated virtual server); and, prepared a detailed transition plan that ensured that all historical data would be successfully migrated, that the insurance billing would seamlessly continue, and that it would require no involvement from the client itself except what they wanted, such as periodic status updates. The transition would be fully complete in less than six months.
And the cost? The monthly fees would be 50% less than their previous provider, totaling savings of hundreds of thousands of dollars per year, so the small upfront transition costs would be covered in a few months. A multi-year contract with agreed-upon escalations guaranteed cost certainty.
The Results
The client moved forward with Gnarus and the plan was implemented. They were thrilled with the speed and ease of the transition. Their feedback was that if they had realized how easy Gnarus would make it and how significant the cost savings would be, while getting the benefits of an improved system, they would have made the switch long before.
The client moved forward with Gnarus and the plan was implemented. They were thrilled with the speed and ease of the transition. Their feedback was that if they had realized how easy Gnarus would make it and how significant the cost savings would be, while getting the benefits of an improved system, they would have made the switch long before.