About the Client
LTCG Achieves up to 70% Improvement in Claims Processing Proficiency with Kryon Full-Cycle Automation
Long Term Care Group (LTCG) is a leading provider of business process outsourcing for the insurance industry, managing complex long-term care portfolios to maximize financial performance. LTCG has more than 1.4 million long-term care policies currently under its management, representing nearly 20% of all active policies. The company serves over 50 national carriers, including every one of the top 10 insurers in the long-term care market.
Having already successfully deployed Kryon’s Attended and Unattended Automation solutions, LTCG was keen to extend the scope of its RPA project to cover additional departments. The company’s primary goal in this latest phase was to radically simplify the often-cumbersome tasks of insurance billing and claims processing.
- 70% improvement in claims processing proficiency
- 83 unique processes discovered within 2 weeks
- 7 processes automated within the first month following discovery
- Total cost savings of $300,000 per year
- Human error practically eliminated
Because of the people-driven character of the long-term care insurance industry, a large proportion of LTCG’s day-to-day work was based on hand-written documents such as notes and faxes. Processing such a wide variety of paperwork naturally relied heavily on labor-intensive, manual efforts that were both repetitive and time-consuming in nature. To add an extra layer of complexity to the situation, LTCG uses a proprietary software solution to interface with corporate insurance clients. Compatibility with this solution would be a key prerequisite for LTCG when adopting new technologies.
Based on their prior experience with Kryon’s Attended and Unattended Automation solutions, LTCG knew that Kryon’s Full-Cycle Automation Suite was the right choice for streamlining their insurance billing and claims processing procedures. Nonetheless, they needed to ensure that any selected solution would be compatible with their proprietary software, as well as being straightforward to implement, very reliable and easy to scale up at a later date.
To facilitate the expansion of their automation project, LTCG opted to use Kryon’s unique Process Discovery™ tool, part of the Kryon Full-Cycle Automation Suite, to identify further processes to automate in the insurance applications, billing/administration and claims processing domains.
The key consideration behind LTCG’s decision was the advanced, field-proven capabilities of Process Discovery. Equally important was the fact that the Full-Cycle Automation Suite is platform and application agnostic, meaning that it would have no trouble integrating seamlessly with LTCG’s existing proprietary software. Lastly, Kryon’s unmatched industry experience and track record, as well as the company’s core values of commitment to delivering success and creating genuine and lasting partnerships with customers, was a significant draw.
LTCG rapidly deployed Process Discovery on around 345 virtual machines across the company over a time span of less than two weeks. As a result, 83 unique processes were discovered, of which seven were automated very quickly. Thanks to Kryon’s solution, LTCG has realized an improvement of up to 70% proficiency in claims processing, with human error practically eliminated, leaving agents able to focus on providing amazing customer service instead.
Why Kryon’s Full-Cycle Automation Suite?
– Kryon is the only vendor in today’s fast moving RPA space with a proven track record in full-cycle automation and an extensive and continually expanding customer base.
– As a one-stop automation shop, the Full-Cycle Automation Suite enables the smooth and successful scaling of RPA projects without needing to integrate with solutions from other vendors.
– Process Discovery delivers huge and immediate value in conjunction with RPA, significantly boosting digital efficiency.
– The excellent future growth potential in areas such as cognitive services and departmental expansion.
Processes for automation identified fast
After Kryon Process Discovery™ deployment, more than 593,000 actions and over 565 unique identifiers were successfully recorded. These included 83 unique processes, seven of which were automated right away, with many more automations planned.
Up to 70 percent improvement in process proficiency
An improvement in proficiency of up to 70 percent has been realized, with processes now executed effortlessly and flawlessly with the highest degree of accuracy, speed and delivery.
Superior levels of customer experience achieved
Agents are now freed up to concentrate on what really matters – providing an exceptional customer experience. Closely related to this, increased upselling opportunities mean increased revenues per customer.
Enhanced efficiency and employee satisfaction
The automation of claims processing has virtually eliminated human errors. This means less time and money wasted on finding mistakes, as well as happier and more satisfied employees.