By partnering with Connext Global Solutions, the public biotechnology company was able to build a team of 60+ employees in the Philippines, effectively managing key administrative functions while achieving significant cost savings.
Client Overview:
A public biotechnology company specializing in developing and delivering innovative healthcare solutions faced significant operational challenges related to handling administrative tasks such as prior authorizations, claims processing, credentialing, medical records management, and eligibility verification. As the company expanded, it needed to scale these functions efficiently without the high overhead costs associated with U.S.-based staffing.
Challenges:
- High Administrative Workload: The company’s growth meant an increasing volume of healthcare-related administrative tasks, leading to bottlenecks and delays in critical processes such as prior authorizations and claims.
- Scalability Issues: Maintaining an in-house team large enough to manage these tasks efficiently would require significant investment in recruitment, training, and management, which was not sustainable given the company’s need for flexibility and scalability.
- Cost Constraints: U.S. labor costs for these specialized roles were high, impacting the company’s ability to allocate resources toward other core functions, such as research and development.
Solution: Partnering with Connext Global Solutions
To address these challenges, the biotechnology company partnered with Connext Global Solutions to build a team of 60+ employees in the Philippines. This team was responsible for handling prior authorizations, claims and appeals, credentialing, medical records management, and eligibility verification, giving the client the scalability and cost-efficiency they needed.
1. Specialized Team for Administrative Tasks
Connext built and trained a team of skilled professionals in the Philippines to manage the company’s critical administrative functions. Each team member was specifically selected for their expertise in healthcare-related processes and was given comprehensive training to meet the client’s needs.
- Prior Authorizations & Claims Management: The team handled the complex and time-sensitive process of obtaining prior authorizations and managing claims and appeals, ensuring timely processing to avoid delays in patient care.
- Credentialing: Connext ensured that healthcare providers were properly credentialed, enabling them to deliver services in compliance with healthcare regulations and payer requirements.
- Medical Records & Eligibility Verification: The team was responsible for managing and verifying patient records and insurance eligibility, ensuring accurate and up-to-date information for billing and care decisions.
2. Scalable Workforce Model
Connext provided the biotechnology company with a scalable workforce solution, allowing them to rapidly expand or adjust the size of their team based on operational demand.
- Flexible Team Sizing: As the company’s needs fluctuated, Connext adapted the team size, giving the biotechnology firm the ability to scale up quickly without the costs and time associated with hiring new in-house staff.
- Continuous Improvement: Connext provided ongoing training and performance monitoring to ensure the team delivered consistent, high-quality results as the company’s operations expanded.
3. Significant Cost Savings
By outsourcing these functions to Connext, the biotechnology company was able to save nearly 60% on staffing costs compared to hiring an equivalent team in the U.S. These savings allowed the company to reallocate resources toward other strategic priorities, including research, development, and product innovation.
- Operational Efficiency: With a dedicated team focused on administrative tasks, the company reduced delays, improved accuracy, and increased the speed of essential processes, such as claims approvals and eligibility verification.
- Cost-Efficiency: The lower labor costs in the Philippines, combined with Connext’s expertise in managing healthcare operations, resulted in a significant reduction in overall staffing expenses.
Results
- 60% Cost Savings: The company saved close to 60% on staffing costs, freeing up capital for investment in other areas of the business.
- Improved Scalability: Connext’s scalable workforce solution allowed the company to expand its administrative capabilities in line with business growth without sacrificing quality or speed.
- Enhanced Operational Efficiency: By outsourcing tasks such as prior authorizations, claims management, and credentialing, the company was able to process higher volumes of work with fewer bottlenecks, leading to improved turnaround times and higher patient satisfaction.
- Focus on Core Activities: With administrative tasks offloaded to Connext, the biotechnology company could focus on its core mission of innovation and development, confident that its operational needs were being met efficiently.
Conclusion
By partnering with Connext Global Solutions, the public biotechnology company was able to build a team of 60+ employees in the Philippines, effectively managing key administrative functions while achieving significant cost savings. The partnership provided the scalability needed to support the company’s growth and allowed it to focus on its core business objectives, knowing that its operational processes were handled with expertise and precision.