SymKey® Wins Most Valuable Processor for Second Year Running

The SymKey® claims processing stats for 2015 are in and they’re unbelievable. We compiled statistics from 80% of our clients, covering a combined total of over 2.5 million lives. Across these clients, SymKey® touched 7.8 million claims with 5.25 million approved/denied for a 67% completion rate. This represents FTE savings of approximately 264 claims examiners, or over $12 million when using standard estimates of salaries plus benefits. Their average ROI was over 10x when compared to their SymKey® license fees. We’re so proud of the value that we’re able to bring to SymKey® clients.

We also couldn’t believe that on average our clients doubled their SymKey® usage from the prior year. There are a couple reasons for this. The Affordable Care Act brought increased membership in 2015, especially for SymKey® clients that process Medicaid/MediCal claims. Overall, their membership was up 39% from 2014, which means there were more claims to process. SymKey® allowed our clients to handle the increased claims without the need to add additional claims staff. SymKey® clients also developed more workflow automation scenarios, which allowed them to automate even more processes. This is a trend that we hope to see continue for our clients because their success is our success.

If you would like to hire our Most Valuable Processor to automate your routine manual workflows with 100% accuracy, contact Laurie Kirkland at lkirkland@hcim.com or 888-454-0202, ext. 126.

About HCIM

Since 2000, HealthCare Information Management, Inc. (HCIM) has delivered expert consulting services and robotic automation tools for small to mid-sized healthcare payer and managed care organizations. Our concierge consulting services include everything from core claims system procurement to go live, including configuration, migration, upgrades, reporting, benefits and fee schedules, user training, and project resourcing. We also offer strategic consulting in the areas of value based payments, population health, medical management, medical loss analysis and recovery, care management, provider contract modeling, data analytics, and business process reengineering/analysis.