The 2012 SymKey for EZ-CAP productivity stats are in and five of our clients are averaging over 1,000 claims per hour (CPH)! The average claims processing speed is 749 claims per hour and one of our clients is processing an unprecedented 3,000+ claims per hour. HCIM’s SymKey for EZ-CAP application is specifically designed to automate the processing of claims within the EZ-CAP claims transaction system. Using programmed artificial intelligence and innovative keystroke emulation technology, SymKey can process claims 30 times faster on average compared to manual processing. Since 2004, SymKey for EZ-CAP clients have enjoyed the freedom and speed of business process automation and are continuing to increase their usage and claims processing speed. Here are some of the highlights from our 2012 SymKey for EZ-CAP Productivity Stats:
- Physicians Medical Group of Santa Cruz County reached an average claims processing speed of 3,151 claims per hour!
- At a California health plan with 65,000 lives, SymKey touched over 3 million claims at a rate of 2,170 claims per hour (a 99% increase over last year’s SymKey speed) with a 75% completion rate and saved approximately 62 FTEs for an estimated savings of $2.6 million.
- One of our clients in Florida increased their SymKey usage 182% in 2012, touching 209,981 claims with over a 92% completion rate and saving nearly 6 FTEs.
- At another California payer organization with around 40,000 members, SymKey touched 531,080 claims in 2012 (up 45% from 2011) at an average of 829 claims per hour. That’s the processing equivalent of 11 FTEs, which saved them around $460,000 in payroll costs.
- A medical group in California with 50,000 lives increased their SymKey processing speeds 75% over last year, for a 2012 average of 1,113 claims per hour, and saved almost 6 FTEs for a savings of $235,729.
Our new SymKey for EZ-CAP clients are doing great as well:
- After using SymKey for only 5 months in 2012, Choice Medical Group was able to process claims at an average of 1,240 claims per hour.
- Cascade Comprehensive Care had only been a SymKey client for 2 months by the end of 2012, but already saw average processing speeds of 746 claims per hour.
Note: FTE savings are based on claims staff processing an average 150-200 claims per day (based on their EZ-CAP version). Payroll savings are based on salary and benefits totaling $42,000 per year for claims staff.
Specializing in Business Process Automation, HCIM has been delivering technology solutions and consulting services to the managed care/payer industry since 2000. HCIM offers many innovative software solutions, including the SymKey, ScanClaims, and Appeals Manager product suites, which increase productivity by automating and tracking the adjudication of claims, authorizations, appeals, and provider dispute resolutions. HCIM’s Professional Solutions team offers payer system implementation and configuration, historical data conversions, operational assessments, business process reengineering and analysis, custom report and database development, ICD-10 and ACA Operating Rules compliance services.
For more information about HCIM’s products and services, contact HCIM Sales and Marketing at 888-454-0202, option 5, or visit www.hcim.com.