Healthcare Technology Organization Evaluates and Selects a More Secure VOIE Process

Client Background

A major healthcare tech organization with over 46,000 employees was utilizing a well-known provider for verifications of employment and income (VOEs and VOIs). The organization encountered challenges due to its highly complex compensation structure, which created inefficiencies in the verification process and placed additional strain on HR.

Problem

The healthcare tech organization’s existing provider struggled to manage the complexities of their compensation structure, resulting in HR frequently having to manually verify employee data for both commercial and government verifiers. The current vendor relied on a file-feed integration that extracted employee data from the HRIS every pay period, regardless of whether a verification request was made. This approach required ongoing manual oversight from HR and IT, and any changes in the compensation structure within the HRIS system often disrupted the file-feed, further consuming internal resources.

Solution

After thorough market research on VOIE vendors, the healthcare tech organization chose Vault Verify. Vault Verify’s API technology offered a more efficient and seamless solution, eliminating the need for manual oversight and addressing the complexities of the compensation structure. Additionally, Vault Verify prioritized data security, refusing to sell employee data, a standard practice among larger vendors. This commitment to security and efficiency made Vault Verify the optimal partner for the healthcare organization.

Results

Since its go-live in 2019, Vault Verify operations:

• Completed 115,821 total verifications for the client
• Saved the client approximately $1,737,315 in internal labor costs (based on $15 per verification)
• Avoided 28,955 hours of internal administrative labor. Staff was able to focus on other HR and payroll projects, due to the greatly reduced workload.
• Prevented the third-party storage of employee data due to its ‘no-storage’ approach to VOIE reports

From these long-term results, the program delivered instant ROI and continues to have a major impact!

The VOIE 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.


(Results are from go-live date of 2/1/2019 through 10/31/2024)

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