ERP: Workday
INDUSTRY: Healthcare
CHG Healthcare is a leader in healthcare staffing and the largest provider of locum tenens services in the United States. With international services, their work impacts the lives of over 25 million patients each year.
"Quadient AR’s reporting capabilities have been transformative. We can measure and monitor the information we need and the platform’s dashboards enable us to easily communicate updates to stakeholders. This enables them to make more strategic decisions that keep money coming in and processes operating quickly and accurately."
CHALLENGE
Business was booming for CHG Healthcare when the COVID-19 pandemic hit. As a healthcare staffing company, not only were they impacted by the sudden changes to the healthcare industry, but the restrictions and changes to the travel industry affected their business as well.
"Once the pandemic hit, it really hit us twice. Our ability to turn around money was badly affected."
A significant portion of CHG’s business depended on specialty surgeries, the majority of which were put on hold during the pandemic. At the same time, the demand for nurses increased exponentially. This forced the company to reimagine their business model and this significant change demanded reporting capabilities that could keep up.
"Because of these radical changes, the need to better track and understand our data at a granular level became critical."
The AR software they were using was inflexible and did not provide the level of reporting detail they needed. When they attempted to create custom reports, they were either told that it was not possible, or they were referred to expensive third-party consultants to complete the request. This made it difficult to stay on top of aging invoices and effectively manage the dispute process. As a result, overdue invoices increased.
Compounding these issues was the challenge of moving to a remote working environment. The team needed a cloud-based solution that was designed for this. It needed to enable collaboration to ensure AR efficiency did not deteriorate with the team operating from different locations.
SOLUTION
Quadient AR provided CHG Healthcare with a centralised source of account data and management. Allowing for an unlimited number of users, the company was able to effectively pivot to a remote working environment. With key data accessible to all employees, members of the team were able to work collaboratively to identify issues and improve processes.
"Having a common language in reporting has helped. Time is always of the essence. You’ve got to move super quick, and it really helps provide the information you need to do that."
Quadient AR’s Business Intelligence (BI) module provided the team with the capability to instantly create custom reports based on the data that they needed to track. Reports could be made as granular or high level as required. In addition, Quadient AR’s team partnered with the company to help them create custom reports quickly when new challenges arose.
"I love the access to our data and tables. There’s also guidance from Quadient AR’s team. If you want to make a specific report, there’s a partnership with them to help you. You have access to all your own information, and you can easily create reports that guide the team. I love it. It’s a different experience to anything we’ve had before."
With detailed reporting, CHG was able to spot trends and potential problems quickly. Because of this, they could become more proactive and strategic in their collections to speed up cash flow. Improved aging reports allowed them to prioritise certain invoices and reduce the number that were past due. In addition, the instant access to data allowed them to resolve disputes more promptly, reducing payment delays.
RESULTS
Using Quadient AR’s BI module, CHG Healthcare was able to reduce late payments, improve reporting, and better manage a remote workforce.
- With better oversight provided by detailed reporting, invoices aged 60 days and over were reduced from 8% to 2%, while invoices over 90 days were reduced from 4% to 1%.
- A centralised data source with unlimited users and cloud-based access allowed the company to manage a remote workforce.
- The company was able to anticipate issues, take proactive steps to prevent them, and accelerate cash flow.
- Disputes and late payments decreased.
“Quadient AR has been great when it comes to reporting. We get the information we need back to our leaders so they can make the informed decisions that keep money coming in and processes operating quickly and accurately.”
