Discussions around the cost of healthcare are never ending. For clinic and hospital professionals the primary focus — as it should be — is concentrated on patient costs, not on technology. But as advances in medicine are made and technology needs become more complex, so does the need for better telecom expense management (TEM).
Overpayments, billing errors and improperly managed inventory of mobile phones and landlines can waste a lot of money in annual healthcare budgets. On average, most organizations pay 50% more than necessary for telecom and datacom services. That’s 50% less resources for hospitals, clinics and healthcare providers to put towards vital communications networks and organizational growth.
To make matters worse, these bills are riddled with errors — almost 80% of all telecom bills are incorrect. These inaccuracies are difficult to detect because of the staggering amount of cryptic information in every invoice. Staying on top of these bills is a full-time job and one that requires experience and training that most healthcare providers don’t have. This is why providers such as Moda Health use Ruby+Solberg for TEM services.
Experienced auditors can find billing errors large and small and TEM analysts can help prevent annual expense creep. For example, in 2016 several of Moda Health’s contract discounts were dropped in error by the company’s vendor. When the healthcare provider’s dedicated services discount dropped off the company’s account, Ruby+Solberg had the discounts reinstated, resulting in $5,000 savings per month.
Helping Moda Health
Moda Health was founded in 1955. The healthcare provider offers evidence-based health plans, including medical, dental, pharmacy, vision and Medicare plans to members across Oregon, Washington and Alaska. Beyond its core service offerings, Moda Health has several subsidiaries, including the third-party administrator BenefitHelp Solutions, dental technology solutions provider Dentists Management Corporation, and dental financing partner Dental Commerce Corporation.
These subsidiaries only add to the increasingly complex nature of the organization’s telecom bills. Which is why Moda Health has been a Ruby+Solberg client since 2003. The company receives monthly expense management, or Validated Telecom Billing® (VTB®), that ensures their telecom invoice management is streamlined and costs don’t creep.
With VTB®, Ruby+Solberg helps Moda Health by:
- Receiving and processing all telecom and datacom invoices
- Disputing incorrect charges and other billing errors
- Processing vendor refunds and credits
- Providing customized GL reports to sync with accounting systems
- Paying approved and funded invoices
- Monitoring vendor application of payments
- Reconciling payments on all accounts
- Building and managing client telecom inventory
- Carrying out approved moves, adds, changes and disconnects
- Coordinating with the IT, accounting, cash management and AP departments
- Analyzing, managing and negotiating vendor contracts and relationships
- Issuing monthly trend and ROI reports on company activities, disputed charges, expense trends and specific ROI of telecom expense management
With TEM accounted for, providers like Moda Health can better allocate their resources and overall efforts to provide superior patient care.