DSS Enabled Billions of Dollars of Savings for the VA
This is the seventh in a series of blog posts highlighting DSS’s experience and success stories supporting the VA and improving Veteran care and outcomes.
As with many government agencies, the VA is often tasked with doing more with less. With a mission of providing the best care possible for Veterans, there is often no room for budgetary challenges to hinder the long-term success of the agency.
Fortunately, the right industry partners can help. Document Storage Systems, Inc. (DSS) has a proven track record as the premier integrator of commercial software that has helped the VA meet mission goals while uncovering tremendous cost savings.
Following are actionable examples of DSS innovation integrations that have helped the VA to capture additional revenue.
Encoder Product Suite (EPS) Revenue Cycle Management Solution
This end-to-end revenue cycle management solution has helped the VA to streamline inpatient reporting, auditing compliance and coding compliance workflows. This solution is comprised of multiple integrated applications that also provide revenue utilization review, Non-MCCF, and VERA (Veterans Equitable Resource Allocation).
The EPS software suite has played a significant role in the improvement of VA Medical Care Collections Fund for Veterans with third-party insurance:
This solution increased collections $1.98 billion between 2003 and 2014
Fee Basis Claims System (FBCS)
The FBCS is a powerful DSS software solution that simplifies the administration and tracking of claims. This workflow management application replaces former manual processes and procedures with an electronic and standardized software to improve accuracy and throughput.
The solution has handled more than 70 million claim records and supported steady record growths as high as 35 percent annually. FBCS automated processes also dramatically reduced the time to intake claims while improving veteran satisfaction, lowering costs, and increasing visibility.
Savings and Efficiency Outcomes:
Reduced the time to intake claims by more than 90 percent.
Reduced IT costs by 90 percent with a fully browser-based interface.
Reduced staff login times by 80 percent using Single Sign-On.
The rules-based auto-adjudication feature reduced claims processing costs by 30 percent.
Insurance Capture Buffer (ICB)
The DSS ICB makes it easier to accurately document patient insurance information, which ensures proper reimbursement to payers. This solution enhances the management of the insurance capture process and effectively improves performance – while monitoring intake clerk performance, and correlating newly identified insurance to increase revenue.
Savings and Efficiency Outcomes:
Over 200% improvement in the number of verifications, per clerk, per day.
Over 1000% increase in the number of new policies identified each month.
These improvements resulted in an estimated $495,370 per site / per year*
In today’s government arena, cost savings equals true revenue generation, which can dynamically change how an agency manages resources. And, for every dollar saved by the VA, the better the agency can support the long-term care needs of Veterans.
*based on dollar value per new insurance identified = $50 (estimates range from $50-$400 depending upon the number of visits per veteran / year).