The repercussions of major healthcare policy changes over the past decade continue to buffet the healthcare services sector. There has been a domino effect on the health of countless Americans and even on the integrity of the healthcare payer system itself.
Recovery from this untenable situation hinges on agile, adaptable, and innovative systems capable of handling both current and future uncertainty. To address this need, the world’s largest healthcare service providers are turning to the range of services offered by Vee Technologies.
Leadership and Recognition
Vee Technologies is one of the world’s foremost global strategic services companies. Founded in 2000, it operates today from offices in New York and Bangalore, India.
The company has thrice made the prestigious Inc. 500’s list of the fastest growing businesses in the United States. Gartner included Vee Technologies in its 2017 and 2018 Market Guide for Healthcare Payers’ Core Administrative Processing Solutions and its December 2016 Market Guide to Key Customer Management BPO Service Providers.
Charting the company’s powerful strides into the world of healthcare services is its CEO and Managing Director, Chocko Valliappa.
With Chocko at the helm, Vee now counts three of the top six insurance providers in the U.S. amongst its clients. The company also caters to the needs of hundreds of hospitals, including six of the top 10 medical institutions in the country.
Simplifying Complexity
Vee Technologies appreciates that while its healthcare services clients come from the same sector, their individual needs and concerns can differ significantly.
The company’s experienced analysts take a systematic and deliberate approach to ascertain and pinpoint the unique challenges confronting each client. They then devise and implement a strategy to address those specific concerns.
This is reinforced by an overall focus on improving revenue generation, customer retention, error reduction, and compliance.
A key differentiator of Vee Technologies is its emphasis on achieving major change through minimal intervention. This philosophy lies at the crux of the company’s consultation services.
By applying its incisive ability to identify and remove operational bottlenecks, clients are able to reinvigorate their bottom line without reinventing their entire operations.
Addressing Change
The healthcare services sector has seen a marked shift from simple clinical care to value-based care. This trend is positive in itself but places reimbursement pressures on virtually every healthcare services provider. It also fosters increased operational complexity.
The only way to keep pace with such change is through improved workflow and internal processes.
Vee Technologies achieves this by generating insights that allow clients to increase reimbursements and improve liquidity. Their solutions are a combination of reduced AR (anticipated reimbursement), production costs, complexity, and processed errors.
The looming specter of compliance risks is another area of concern for healthcare service providers. Such risks may be unintentional, as with genuine data collection and entry errors or simple miscommunication. However, factors like undetected fraud and PHI disclosure entail serious consequences.
The majority of such risks can be countered and even circumvented with the right IT infrastructure. However, many companies are reluctant to invest in IT because of the uncertainty that the costs will offset the expected gains.
Vee Technologies eliminates the uncertainty through accurate, detailed audits. It uses these assessments as the basis for reliable projections of realworld impact and the ROI for every investment.
These insights place clients in the best position to make reliable decisions about both the present and future direction of their companies.
Leveraging Technology
While policy and regulation changes can put healthcare operations in disarray, service providers also have to contend with the limitations of technology. Common concerns range from skills shortages to coding resources incapable of handling complex requirements.
The operational complications notwithstanding, shortcomings in this critical area can potentially expose individual employees and the entire organization to noncompliance penalties.
A popular solution for some companies is outsourcing. However, outsourcing can spawn a host of problematic issues itself. Some of the most concerning are the associated loss of control and oversight.
Vee Technologies circumvents this by exclusively employing pre-approved, top-tier professionals. It also leverages the power of big data to identify actionable trends and deploys resources to maximize the returns from that information.
This tactic transcends simple profit; it is the basis on which Vee’s clients formulate their approach to overall population health. With the right information, they can reorganize their assets to deliver better care within shorter timeframes.
Perfect Balance
One of the central tenets of business success is maintaining the ideal balance between profit and the quality of products and/or services delivered. In the healthcare industry, the stakes are even higher because the care provided dictates quality of life.
Tool complexity and convoluted Payor rules detract from the time and effort provided to patients. It is compounded by missing reimbursements and high AR.
Vee Technologies utilizes its industry expertise and experience to combine revenue cycle management with health information management. This overlap of technology, information, and specialized knowledge gives its clients the edge they need to overcome any challenge.
With these powerful resources at their fingertips, every Vee Technologies client knows that it has the foundation upon which to achieve more while spending less. That sentiment continues to be the driving force behind the company’s popularity and success.
Source: The 10 Most Innovative Healthcare Solution Providers 2018
