Saving money has been one of the main reasons that many companies have been considering a paperless approach. But while saying cost savings will happen, producing tangible evidence is what can sway the minds of business decision-makers. That is just what a recent report did.
A recent case study that was published by Healthx – a healthcare communication provider – examined how a paperless plan can effect business operations. The report covered a pilot program with the Southeastern Indiana Health Organization (SIHO) that eliminated the use of paper Explanation of Benefits (EOB) statements.
Healthx estimated that between the sheer number of pages printed and the volume in which they are distributed, EOBs cost an average of 50 cents per statement. SIHO agreed to the voluntary study at its 120- member facility. Using a Web portal and marking campaign, SIHO was able to see 57 percent user adoption and 50 percent cost reduction in just 90 days.
On top of that, once paperless, the reduction was more than 6,000 paper statements. Users that signed up for the electronic statement plan reported a 98 percent positive feedback rate citing ease of use and speed in signing up. A yet unreleased second phase of the study is planned.
"We will realize a 50 percent saving. We have reduced our spending in half – which should be a substantial amount of money that rolls into the other tangibles," Mike Clancy, vice president of IT for SIHO, said in the report. "Paperless EOB will provide our members with quicker and easier access to benefit information, right at their fingertips."
In this instance, not only did a paperless approach save money, it also increased productivity and the customer experience while immediately eliminating stacks of paper. This study did not account for the existing paperwork that will need to be scanned and organized before a completely digital system can be put in place. This task can easily be handled by a document scanning and management service.
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