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      CUSTOMERS – Case Study

      Healthcare

      Streamlining Telehealth Operations with Patient Verification

      In the rapidly evolving telehealth sector, a premier online healthcare provider encountered significant challenges aligning their patient onboarding process with compliance standards. Their existing system was fraught with friction, leading to a high rate of new patients abandoning the onboarding process. 

      By partnering with Vouched, the provider implemented a patient verification solution that drastically improved both efficiency and compliance.

      BACKGROUND

      The provider, a telemedicine leader, faced mounting difficulties in crafting an automated patient verification process that satisfied rigorous compliance demands while reducing the abandonment rates that resulted in costly manual reviews, all of which were impeding scalability. This inefficiency not only drained resources, but also compromised patient care and satisfaction.

      THE CHALLENGE

      The provider was facing a daunting set of challenges, including:

      • A staggering abandonment rate of more than 60% during initial verification attempts, even among patients with a low risk of prescription misuse.

      • Thousands of monthly transactions that necessitated manual verification, straining resources and impeding scalability.

      • Devising an automated patient identity solution with the dual purpose of ensuring compliance and preventing prescription medication abuse by high-risk patients.

      THE SOLUTION

      To address these challenges comprehensively, VouchedRx, Vouched's AI-driven patient verification solution, was employed with enhanced sophistication and customization:

      • Risk Assessment Integration: Incorporated an advanced risk assessment framework, analyzing both patient cohort risk and real-time risk signals. This dynamic approach escalated the verification processes as needed, and was tailored to the specific risk associated with the use case, whether prescription or treatment, and the individual user.

      • AI-Powered Patient Onboarding: Leveraged AI to refine patient onboarding, dramatically decreasing friction for low-risk patients and enhancing compliance adherence. This resulted in a streamlined experience, where abandonment rates were significantly reduced.

      • Customized Verification Workflow: Developed multi-factor, dynamic verification workflows distinguishing between high, moderate-,  and low-risk patients. This customization extended to workflow optimization, security settings, and user experience (UX) configurability, ensuring compliance without compromising on efficiency.

       

      THE RESULT

      VouchedRx produced the trifecta of improvements in the form of increased revenue, decreased operating costs, and significantly higher ROI across the business; specifically: 

      • Increased Patient Conversion: The implementation of automated patient verification dramatically boosted patient conversion rates, soaring from 40% to an impressive 95%. This remarkable improvement, a 140% leap beyond the industry average, optimized the verification process, substantially minimizing the reliance on manual reviews and lowering operations costs. Consequently, this positive shift empowered medical professionals to allocate more time to providing exceptional patient care.

      • Scalability and Revenue Growth: The implementation of VouchedRx significantly enhanced the provider’s patient intake process, enabling scalability that led to a more than 37% increase in new patients. This growth translated into a substantial revenue boost, with millions of dollars added annually and paving the way for business expansion. Notably, the provider experienced a remarkable revenue lift, with conversion rates soaring to 95%—more than double the industry average of 40%. The reduction in ID verification costs, coupled with lower operational expenses, played a crucial role in facilitating this rapid scaling and broadening our customer reach.

      • Quantifiable Business Impact: The comprehensive improvements translated into a significant ROI, with millions in annual revenue growth. Reduced manual verification efforts allowed healthcare professionals to focus more on patient care, elevating the standard of service provided.

      CONCLUSION

      VouchedRx has not only redefined the provider's approach to telehealth operations, but has also set a new benchmark for operational excellence within the industry. By achieving critical cost savings and fostering scalability, VouchedRx ensures the provider remains compliant while navigating the complexities of the telehealth sector. 

      This case study underscores the transformative power of cutting-edge patient verification solutions, highlighting Vouched's pivotal role in driving forward the future of healthcare technology. As we look ahead, the success of VouchedRx opens the door to further innovations, preparing both Vouched and the healthcare provider to meet emerging challenges and opportunities in the evolving landscape of telehealth.