Blue Cross Blue Shield Company Saves Over $40m with Customer Service Transformation
By Karl Holzthum
Driving substantial improvements in health insurance customer service is on the minds of every executive responsible for maximizing the value of their organization’s investments in providing the best CX possible, especially given new challenges brought on by the global health crisis.
Is it possible to save over $40 million over a three-year period? The answer is a resounding yes for one of the largest Blue Cross Blue Shield companies.
The team at Eventus was selected by a BCBS company to develop a CX transformation strategy and engage in transformational projects over a period of three years, including:
- Strategic Assessment and Roadmap
- Financial Modeling and Business Case Development
- Vendor Management Selection and Playbook
- Command Center Design, Buildout, and Playbook
- Contact Type Insights Analysis
- Skills Based Routing Redesign and Flow Analysis
- Omni Channel Architecture and Orchestration
- Process Optimization
Nearly one in three Americans rely on Blue Cross Blue Shield (BCBS) companies for access to safe, quality, and affordable healthcare. In every U.S. ZIP code, the organization offers a personalized approach to healthcare based on the needs of the communities where their members live and work, coordinating closely with hospitals and doctors in the communities they serve to provide quality, affordable healthcare.
With over 107 million members in all 50 states, Washington, D.C., and Puerto Rico, 96 percent of hospitals and 95 percent of providers contract with BCBS companies, which is far more than any other insurer.
We found opportunities to save money while improving service, validated with a comprehensive set of metrics delivered via streamlined reporting.
Unlike some efforts, we were able to save operational spend by looking across the contact center for efficiency opportunities including:
- $6m+ annually in Call quality improvements leading to higher FCR
- $3m+ annually in Handle time reduction
- $2m+ annually in More efficient use of resources through intelligent call and message routing
- $5m+ annually in Headcount and associated overhead cost reduction through staffing optimization
We are continuing to collaborate to drive even more innovation as new technologies become available, and consumer behaviors change generationally. We are constantly on top of the strategy as the years roll on, and today are working intensely on a Knowledge Management roadmap, and Cloud Telephony assessment enabling new business approaches, including work-at-home and virtual agent alternatives.
Our commitment to our clients’ success over many years distinguishes Eventus, having continually contributed to the success of this BCBS company, with proven outcomes and significant, measurable ROIs, Eventus believes that other BCBS companies would benefit from the transformational experience delivered, and the best practices learned.
As we continue to navigate through 2020 and prepare for a strong recovery on many levels in 2021, timing is perfect to step back and reassess opportunities to transform and improve.
To learn more about how we helped this BCBS company, reach out to me at email@example.com.
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We have exciting news to share! Eventus Solutions Group has entered into an agreement to become a portfolio company of Tech Mahindra, a $5B leading provider of digital transformation and consulting services and solutions.