The client is a healthcare management company with 150 locations and over 20,000 employees. The company portfolio includes skilled nursing facilities, rehab facilities and long term care. The company utilizes a shared services model for HR and finance and had previously been managing all verifications of employment in-house.
Company representatives met with Vault Verify in 2016 and subsequently engaged other team members in a review of Vault Verify, including information security, finance and HR. The client estimated that they were completing 400-500 verifications per month through the shared service center and were looking to offload the labor burden and create more consistency in the process.
The client signed an agreement with Vault Verify to automate all VOE/VOI’s, including social services and government requests, in July of 2016. The implementation began quickly and the company went live with Vault Verify in August 2016. Vault Verify does not charge for implementation or set up, allowing the company to recognize immediate ROI upon go-live. During the first full month of operation, Vault Verify completed over 300 verifications for Client, saving the company approximately $2,000 in internal labor cost and generating over $1,000 in revenue to the client.
The former VP of HR for the client approached Vault Verify in 2017 to let us know that he had moved to another senior care company and would be implementing Vault Verify in late 2017 at his new company.
|Expected ROI first full year:|
|Implementation/ set up and ongoing costs:||$0|
|Expected number of annual verifications:||5000|
|Labor savings versus completing in-house:||$33000|
|Client revenue share on commercial VOE/VOI:||$14000|
|Total first year ROI to client:||$47000|
|Three year ROI to client:||$141000|