Case Study: Leading Ancillary Healthcare Products Provider achieves major F&A cost savings with Xchanging

Xchanging Helps A Leading Ancillary Healthcare Products Firm Achieve Efficiencies

Leading Ancillary Healthcare Products Providing Company, a Florida-based ancillary healthcare products provider serving more than 600 clients and 750,000 injured workers annually, wanted to reduce finance and accounting costs after rapid growth strained its manual accounts payable and receivable and billing processes. It turned to Xchanging to transition billing and related F&A work to a secure third-party partner, using Xchanging’s offshore finance and accounting services and workflow tools.

Xchanging implemented its Revenue Cycle Management solution and CORE workflow management tool to automate invoice handling, billing, and payment posting, replacing paper-based, manual processes. As a result, Xchanging helped the customer achieve significant savings of about US$216,000 per year, reduce cost per invoice from US$4 to US$1.86, and improve productivity by 116%, while also improving reporting, accuracy, and turnaround times.