C A S E S T U D Y :
Fund Quickly Recoups $15 Million With MTSS-mba
MTSS User Snapshot:
Active Members = 12,500
Retirees = 7,500
Dependents = 45,000
Average number of current lives tracked = 75,000
Health & Welfare Benefit Program = 85% participation
Legal Services Benefit Program = 95% participation
Document images = 200,000
Employers = 5
Automatic data intake from employers = yes
Payroll deduction processing for dues = yes
Employer H&W remittances = download/ auto intake
Employer Legal Services remittances = download/ auto intake
Locals = 10
Years MTSS in use = 16
Over-The-Counter – Receipting, cash drawer reconciliation
User count = 50
CHALLENGE: Reduce benefit fund operating costs by identifying missing contributions and invalid benefit provider charges while streamlining processes to improve efficiencies.
SOLUTION: MTSS-mba, a mature, feature-rich and powerful Membership & Employee Benefits Administration solution that efficiently streamlines collecting, managing and tracking member data, makes retrieving information right from the desktop quick and easy.
RESULTS:
Missing Contributions and Invalid Provider Fees Costs Fund
A benefits fund was losing millions of dollars due to missing contributions and invalid benefit provider fees. The company manages membership data and benefits from five employers and averages over 75,000 lives, including dependents and retirees. This amounted to approximately $250 million in benefits contributions collected annually.
As with all manual systems, capturing and storing volumes of information from hard documents was cumbersome and prone to data entry errors. Information retrieval was also difficult. Additionally, when verification was required, a significant amount of time was spent searching for the original documents, often in vain.
The company knew their needs and that their needs were broad. It needed the ability to track membership information, including dependent demographics, dues owed and collected and other related data in order to calculate benefit eligibility. It wanted reports of employer and member benefit contributions and liabilities to benefit providers. Eligibility composition reporting and plan demographic analysis was also desired to assist with plan costing and forecasting. Member data and employer contributions had to be collected into a membership benefits database for calculating members’ eligibility. Data from benefit providers needed to be reconciled with membership benefit eligibility. The company also needed a document management solution for better storage and retrieval of their hard copy source documents, which at that time were in excess of 200,000 pages.
After searching for a solution, the organization chose MTSS-mba.
WANTED: Cost-effective, Proven Solution – Must Deliver ROI
The company selected MTSS-mba because it has the most feature-rich and powerful solution that also offers the broadest capabilities to efficiently manage the data requirements of the organization’s membership and multiple benefit funds. It also delivers the best performance in the industry, and the most intuitive and user-friendly interface.
Moreover, MTSS-mba’s customizable, modular design affords seamless integration to accommodate the organization’s work-flow environment. Its modifiable structure could handle the simplest single fund entity to the most complicated multi-entity, multi-fund organization.
For end users this results in ease of operation, and an intuitive application that runs smooth and fast. The fact that MTSS-mba is also easy to maintain and requires little user training were other plusses for the organization.
Fast, Easy and Seamless Installation and Process
During the installation process, considerable time was spent with the customer’s staff surveying its operational procedures, organizational requirements and related entities, such as its Health & Welfare Fund and Legal Services Plan. This stage included a review of physical documents, the process of receiving dues and benefits contributions from employers and payments from individual members, as well as the methods for advising providers of the eligibility of participants for benefits, and other processes. Staff reports prepared by the company were also examined.
Based on this comprehensive review process, the MTSS-mba modules chosen for implementation provided for multiple dues rates of members, multiple benefits plans with different coverages and separate contribution rates, and multiple levels of security. The nature of the MTSS-mba infrastructure facilitated the simultaneous updating of data by multiple users at individual workstations, regardless of location, without contention lockouts. The seamlessness of the MTSS-mba module integration permitted easy access to any data or processing function.
MTSS-mba modules automated the downloading and processing of employer payroll and other datasets, as well as gathering input from clerical workstations. Extensive reporting on the information gathered allowed for the analysis of benefit payments received and identified those that were missing, as well as verifying benefit provider charges by individual.
MTSS-mba document imaging ensured that original documents for membership information could be easily viewed online, and that vital information, including benefits eligibility, verified at the point of need. Prior to going live, the entire system was tested with various users to ensure that it all worked together smoothly, was user friendly, and that the modules provided the information desired on demand, as designed.
The Bottom-Line: How Does $15 Million in 3-4 years of ROI Sound?
When MTSS went live the results were instant and extremely impressive. From day one the organization began reaping huge savings through discovering missing benefit contributions due from employers and invalid benefit provider fees that had been charged for ineligible or terminated individuals. The amounts from these two items alone amounted to over $3 million dollars that could be collected immediately.
Month after month MTSS-mba continued to identify $150,000 to $250,000 in recoverable amounts from various sources. Over the course of the next few years, an additional $9 -$12 million in erroneous duplicate billings from benefit providers was identified.
But the installation of MTSS-mba has delivered many other benefits to the company. MTSS-mba has tremendously reduced the amount of time required to maintain its data, and increased its ability to provide better information and service to members. The users were ecstatic over their newfound easy access to information, and the ability to quickly view documents to answer members’ questions. An executive from the organization commented, “MTSS is the best software solution money can buy. It has saved us so much more than we spent.”
This customer also noted that the technical support, timeliness of response, and level of technical expertise provided were all excellent. In fact, they said it was second to none, in their experience.
MTSS-mba is justifiably viewed by this customer not as an expense, but as a profit center.
Many organizations are reluctant to spend scant resources on technology today, but as this company discovered, MTSS-mba delivers true ROI. It’s an investment that pays monetary dividends quickly.
Contact Us to learn how MTSS-mba can save your organization time and money.
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Active Members = 12,500
Retirees = 7,500
Dependents = 45,000
Average number of current lives tracked = 75,000
Health & Welfare Benefit Program = 85% participation
Legal Services Benefit Program = 95% participation
Document images = 200,000
Employers = 5
Automatic data intake from employers = yes
Payroll deduction processing for dues = yes
Employer H&W remittances = download/ auto intake
Employer Legal Services remittances = download/ auto intake
Locals = 10
Years MTSS in use = 16
Over-The-Counter – Receipting, cash drawer reconciliation
User count = 50
CHALLENGE: Reduce benefit fund operating costs by identifying missing contributions and invalid benefit provider charges while streamlining processes to improve efficiencies.
SOLUTION: MTSS-mba, a mature, feature-rich and powerful Membership & Employee Benefits Administration solution that efficiently streamlines collecting, managing and tracking member data, makes retrieving information right from the desktop quick and easy.
RESULTS:
- Immediately discovered over $3 million in recoverable outstanding amounts from missing employer contributions and provider invalid billings
- Discovered additional $9-$12 million recoverable from provider double billings over 2-3 years
- Identified $150,000-$250,000 per month in recoverable amounts
- Realized impressive ROI
- MTSS-mba solution became a profit center rather than a cost
Missing Contributions and Invalid Provider Fees Costs Fund
A benefits fund was losing millions of dollars due to missing contributions and invalid benefit provider fees. The company manages membership data and benefits from five employers and averages over 75,000 lives, including dependents and retirees. This amounted to approximately $250 million in benefits contributions collected annually.
As with all manual systems, capturing and storing volumes of information from hard documents was cumbersome and prone to data entry errors. Information retrieval was also difficult. Additionally, when verification was required, a significant amount of time was spent searching for the original documents, often in vain.
The company knew their needs and that their needs were broad. It needed the ability to track membership information, including dependent demographics, dues owed and collected and other related data in order to calculate benefit eligibility. It wanted reports of employer and member benefit contributions and liabilities to benefit providers. Eligibility composition reporting and plan demographic analysis was also desired to assist with plan costing and forecasting. Member data and employer contributions had to be collected into a membership benefits database for calculating members’ eligibility. Data from benefit providers needed to be reconciled with membership benefit eligibility. The company also needed a document management solution for better storage and retrieval of their hard copy source documents, which at that time were in excess of 200,000 pages.
After searching for a solution, the organization chose MTSS-mba.
WANTED: Cost-effective, Proven Solution – Must Deliver ROI
The company selected MTSS-mba because it has the most feature-rich and powerful solution that also offers the broadest capabilities to efficiently manage the data requirements of the organization’s membership and multiple benefit funds. It also delivers the best performance in the industry, and the most intuitive and user-friendly interface.
Moreover, MTSS-mba’s customizable, modular design affords seamless integration to accommodate the organization’s work-flow environment. Its modifiable structure could handle the simplest single fund entity to the most complicated multi-entity, multi-fund organization.
For end users this results in ease of operation, and an intuitive application that runs smooth and fast. The fact that MTSS-mba is also easy to maintain and requires little user training were other plusses for the organization.
Fast, Easy and Seamless Installation and Process
During the installation process, considerable time was spent with the customer’s staff surveying its operational procedures, organizational requirements and related entities, such as its Health & Welfare Fund and Legal Services Plan. This stage included a review of physical documents, the process of receiving dues and benefits contributions from employers and payments from individual members, as well as the methods for advising providers of the eligibility of participants for benefits, and other processes. Staff reports prepared by the company were also examined.
Based on this comprehensive review process, the MTSS-mba modules chosen for implementation provided for multiple dues rates of members, multiple benefits plans with different coverages and separate contribution rates, and multiple levels of security. The nature of the MTSS-mba infrastructure facilitated the simultaneous updating of data by multiple users at individual workstations, regardless of location, without contention lockouts. The seamlessness of the MTSS-mba module integration permitted easy access to any data or processing function.
MTSS-mba modules automated the downloading and processing of employer payroll and other datasets, as well as gathering input from clerical workstations. Extensive reporting on the information gathered allowed for the analysis of benefit payments received and identified those that were missing, as well as verifying benefit provider charges by individual.
MTSS-mba document imaging ensured that original documents for membership information could be easily viewed online, and that vital information, including benefits eligibility, verified at the point of need. Prior to going live, the entire system was tested with various users to ensure that it all worked together smoothly, was user friendly, and that the modules provided the information desired on demand, as designed.
The Bottom-Line: How Does $15 Million in 3-4 years of ROI Sound?
When MTSS went live the results were instant and extremely impressive. From day one the organization began reaping huge savings through discovering missing benefit contributions due from employers and invalid benefit provider fees that had been charged for ineligible or terminated individuals. The amounts from these two items alone amounted to over $3 million dollars that could be collected immediately.
Month after month MTSS-mba continued to identify $150,000 to $250,000 in recoverable amounts from various sources. Over the course of the next few years, an additional $9 -$12 million in erroneous duplicate billings from benefit providers was identified.
But the installation of MTSS-mba has delivered many other benefits to the company. MTSS-mba has tremendously reduced the amount of time required to maintain its data, and increased its ability to provide better information and service to members. The users were ecstatic over their newfound easy access to information, and the ability to quickly view documents to answer members’ questions. An executive from the organization commented, “MTSS is the best software solution money can buy. It has saved us so much more than we spent.”
This customer also noted that the technical support, timeliness of response, and level of technical expertise provided were all excellent. In fact, they said it was second to none, in their experience.
MTSS-mba is justifiably viewed by this customer not as an expense, but as a profit center.
Many organizations are reluctant to spend scant resources on technology today, but as this company discovered, MTSS-mba delivers true ROI. It’s an investment that pays monetary dividends quickly.
Contact Us to learn how MTSS-mba can save your organization time and money.
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