Decreasing RFx response time for the health insurance company from days to hours

Enhancing RFx response outcomes by means of automation, advanced content management, and winning trust through all users.

Industry: Healthcare

Company size: 3K+ employees/2. 2M+ customers

Medical health insurance is one of the most established sectors in the U. S. With the ever-changing regulatory environment plus evolving healthcare challenges, agile and prompt response processes are critical to insurance policy companies’ business models.

Issues: Siloes, redundancy, and user frustration

Despite being well-versed in building complex company relationships, one large local nonprofit health insurance provider struggled with slow, siloed reaction management processes.

For years, they had been using demands for proposals (RFPs) as an essential business development strategy. For commercial and govt bids, they used previous RFP software that was generally despised and not at all user-friendly. Additionally , content could not be shared, and there was no transparency.

The particular proposal manager for the business recalled one instance in which a subject matter expert (SME) has been reviewing an answer and requested, “Who said this? ” After too much time spent digging through past email chains to track down the source, the supervisor discovered that the source of the initial answer was the very same SME.

Overall, the old RFP reaction system simply wasn’t operating. Even though they were implementing guidelines, it wasn’t getting at the root cause of what was taking place and wasn’t addressing this points that RFP planners were seeing. The supervisor said, “When we took a holistic look at our entire process, we knew we necessary to do something different. We had to change how we looked at RFPs from your culture side. And we needed to change the technical side—the process. ”

Product sales departments complained about the system’s inefficiency. Everyone involved in the RFP process worked in a silo and had no idea what was happening elsewhere in the organization. The only method for sales to stay current on an RFP was in order to ask the proposal group to send over the most recent edition.

SMEs—also working in silos—would send information to the proposal team, where it could vanish into a black opening. Because they couldn’t access in real-time any progress produced on RFPs, they couldn’t know how the RFP response ended, whether it was productive, or whether the right articles and messaging were being used.

There was no feedback in a direction. Email chains had been too big and unmanageable—and generally got lost among the numerous emails everyone received each day. Requests to provide the same information over and over again were commonplace.

Answer: Automate to improve the user experience organization-wide

At the end of 2018, the manager realized it was time to take the company’s RFP response process to the next level and their current RFP software program wasn’t going to solve their own problems.

Initially, her primary goals were to automate the particular RFP response process plus enable a more user-friendly experience for the proposal team, sales, and SMEs. After learning more about RFPIO’s functionality, the lady discovered many other ways the platform could improve systems within her organization.

Of RFPIO’s many applications at this health insurance company, perhaps the most surprising is that first drafts associated with requests for information (RFIs) that once took as much as five days to complete at this point take just a few hours. Which was just one of the many unexpected advantages.

By bringing in RFPIO, the health insurance company improved their RFP response process with:

  • Content Management: They removed the particular proposal team as the “middleman” for content creation, review, plus management. RFPIO enables SMEs to own their respective articles; they now use the correct content version every time.
  • User-friendly Workflow: RFPIO is designed to be a response platform. Features such as the Solution Library are flexible plus adaptable. In this case, the Answer Collection adapted to how the medical health insurance industry thinks. For example , sometimes, a question requires a different reaction depending on who’s asking and what context. RFPIO leverages AI to make response administration intuitive and seamless.
  • Import/Export: Today, they can easily upload forms into RFPIO and then download responses in their own top quality templates.
  • Collaboration Tools: All conversation for each RFP is taken and acted upon within RFPIO. Even if an SME or even salesperson responds via e-mail, RFPIO logs the response. There are no more long email chains, no more lost version control, and no more inefficient reviews. An added benefit is that SMEs can learn from one another. As they review other responses from all departments associated with the RFP, they can obtain new perspectives on their own responses.
  • Sophisticated Tracking & Confirming: RFPIO tracks and monitors many content and communication associated with each project and enables any user to check the particular project status. The platform automatically creates a log of all conversations, comments, and content.
  • Salesforce Integration: RFPIO Salesforce integration allows the organization to launch RFPIO projects, track progress in real-time and at every level, and submit bids straight from Salesforce.

RFPs were just the beginning: RFP software also helps with RFI reaction and content management

“When we realized we could finish the first draft of the RFI in hours rather than days, it was like the atmosphere parted and the angels did. ”

The company rolled out RFPIO in September 2019, intending the entire concentrate of the platform to be upon RFPs. However , January 2020 marked the beginning of their RFI season. After the first few started trickling in, these people decided to try putting the particular RFIs into RFPIO.

“We realized that RFPIO is excellent for automating RFI reaction, ” said the company’s proposal manager.

RFIs involve hundreds of queries and must be completed at least annually, sometimes multiple times per year. Rarely are there any changes from one RFI to the next. Most brand new RFI data are improvements, built on the idea of evaluation and update.

When an 817-question RFI arrived one day from 11: 30 a. m. and was in the SME’s hands for review right at the end of that same day, the manager was ecstatic. “When we realized we could finish the first draft of an RFI in hours rather than days, it was like the clouds parted and the angels sang. ”

Another RFPIO use case included handling content related to the COVID-19 pandemic in 2020. From the beginning of the pandemic, there was confusion, constantly changing content, and breakthroughs about testing, therapy, and vaccinations. Brokers plus employer groups needed normal updates on how to handle all of this new information.

To help ensure the health insurance company maintained consistency in messages both internally and externally, they developed a COVID-specific content collection in RFPIO. The collection enabled the business to track whether something have been reviewed, was ready to release, or had already been published.

It also helped them maintain constant updates to content material that SMEs owned and could share company-wide, avoiding any kind of missteps such as publishing Might 2020 messaging, despite the June 2020 update. The particular collection allows the company to update in real-time because talking points change.

“I tell individuals when I’m training all of them that you can’t break RFPIO, and it tracks everything, ” the proposal manager stated. “That gave people the particular comfort and freedom to obtain creative with the platform. ”

The health insurance provider continues to expand its RFPIO collections. Recently, they built one for their provider group to track their responses pertaining to health systems. Another individual line of business has its own distinctive collection because it’s not quoted very often. The RFPIO selection provides access to content and assigns owners for improvements and tracking.

Content transparency starts with unlimited consumer access

With their old program, the company had to purchase numerous licenses to give salespeople and SMEs access to the platform. “To pay that just to provide people access, it wasn’t a good way of going about it, ” they said.

With RFPIO, everyone might have access without needing to purchase person licenses. And everyone has access—beyond the proposal group. Underwriters, sales, SMEs, and security all use RFPIO. The more it’s used, the more other departments want to make the most of its capabilities.

“For us, it’s really gone beyond just responding to RFPs. It’s using it in order to collaborate and track and respond to the market, ” the particular manager said. “The more we use it, the more I hear, ‘Hey, it would be excellent if we could use RFPIO with this. ’”

Are you ready to respond to RFPs faster and gain control of your content? Get started by scheduling a demo today.

Due to privacy plus confidentiality restrictions, RFPIO is just not disclosing the company name or maybe the names of interviewed example participants.

 

The write-up Reducing RFx response time for a medical health insurance company from days to hours made an appearance first on RFPIO .

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