50%

reduction in remittance

processing times

56%

decrease in processing time

of each charity care case

80%

reduction in audit

documentation

“With the SoftCo system, we’ve increased reimbursements and we’ve reduced costs – and that’s good for our bottom line.”

James BowdenDirector, Patient Financial ServicesSaint Peter’s University Hospital

Challenge

Saint Peter’s Accounts Receivable team were managing a complex series of back-and-forth manual paper interactions with a host of insurers. It had no centralized view of insurance company remittance forms or of financial documents throughout the entire AR process which was causing revenue cycle problems. In addition, its charity care application process was manual and time-consuming and required automation.

Solution

SoftCo eBilling was deployed to streamline the management of Saint Peter’s patients’ financial information, secure prompt payment for patient services, cut charity care processing times by 50%, save on storage costs, and improve its bottom line. Patient financial information is scanned once received and is instantly available to relevant employees. The solution automates remittance processing and the communication with insurance companies. The system also supports online processing of charity care applications.

Results

SoftCo eBilling has enabled efficient cost recovery at Saint Peter’s, improved cash flow, and reduced the processing time of each charity care case from 45 to 20 minutes. It has also reduced the production of Saint Peter’s quarterly audit documentation by 80% and eliminated thousands of dollars of expensive storage.

Information
  • Industry:Hospital & Healthcare
  • Solution:eBilling
  • Region:United States
  • Employees:3,000+
  • Invoices:1,000,000 per annum
  • ERP System:McKesson Star

Saint Peter’s University is an award winning acute-care teaching hospital in New Jersey, USA. A regional specialist in geriatrics, oncology, orthopaedics, women’s services, and ambulatory care the non-profit corporation employs in excess of 3,000 staff.

“We traditionally had to deal with large amounts of audit documentation each quarter. Thanks to SoftCo we’ve reduced this by 80% and saved thousands on storage costs.”

James Bowden,
Director, Patient Financial Services, Saint Peter’s University Hospital

Why choose SoftCo?

SoftCo’s Smart Automation solutions automate Procure-to-Pay, Accounts Payable, Vendor Management, eBilling and Contract Management processes. Reducing costs, increasing efficiencies and delivering an intuitive user experience across all devices. SoftCo Compliant Archive is SÄHKE2 and ISO 27001 certified, meets all compliance obligations and effectively manages all organization data.

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