Healthcare Management Company Enhances Their VOE/VOI Process

Healthcare Management Company

Industry

Healthcare

Company Size

9,500

Challenge

The client is a healthcare management company with over 120 locations and over 9,500 employees. The company portfolio includes skilled nursing facilities, rehab facilities, and long-term care. The company utilizes a shared services model for HR and finance and had previously been managing all verifications of employment and income (VOEs and VOIs) in-house, and they use UKG Pro as their HCM platform.

The client estimated that they were completing hundreds of verifications a month in-house through the shared service center and were looking to offload the labor burden and create more consistency in the process.

Solution

In August of 2018, the client requested Vault Verify services to automate all VOEs and VOIs, including social services and government requests. The implementation began in short order and the company went live with Vault Verify in September of 2018.

During the first full year of operation, Vault Verify:

• Completed 3,716 total verifications for the client
• Saved the client approximately $37,160 in internal labor costs (based on $10 per verification)
• Generated over $1,900 in revenue shared back to the client

From these early results, the program delivered instant ROI!

Results

Since implementation over four years ago, Vault Verify has completed 11,047 verifications for the client, totaling an estimated labor savings of $110,470 based on $10 per verification.

In addition, the client has benefitted from:

• $41,248 revenue given back as checks from Vault Verify
• 55.24 work weeks in estimated labor savings (based on 12 minutes for a verification)
• A total of $151,718 in total ROI since implementation
• Reduced exposure and liability: 494,000 records/year (Based on 9,500 EEs x 52 weeks)

In April 2020, Vault transitioned the client to a real-time API with UKG Pro, which dramatically reduced their data footprint and risk of exposure while providing up-to-the-second accuracy of data.

The VOE/VOI service continues to exceed the client’s expectations and the HR department has indicated that they would recommend Vault Verify services to friends and colleagues.