Nucleus Research Study: RingCentral’s Cloud Communications and Contact Center Solutions Returned 400% ROI
Nucleus Research, a global provider of ROI-focused technology research and advisory services, announced the findings of a study into the benefits that Healthcare Claims Management (HCM), a revenue cycle management company, found from replacing its legacy on-premise systems. Nucleus found that the deployment of RingCentral’s cloud communications and contact center solutions resulted in increased efficiency, employee productivity, and improved patient and customer engagement across its business. RingCentral Contact Center and RingCentral Office, a unified communications solution that includes team messaging, video meetings, and a cloud phone system, delivered over a 400 percent Return on Investment (ROI) for HCM, paying back their investment in less than three months.
“By transitioning to the cloud and transforming communications across its business with RingCentral, HCM was able to streamline integration of external applications and solutions as well as increase internal efficiency and employee productivity.”
HCM provides revenue cycle management, accounts receivable management services, managed call center, and insurance optimization for hospitals and healthcare facilities. HCM aims to humanize the patient experience and create easily accessible data for all parties involved. Their strategy leads to increased patient engagement and satisfaction, which in turn improves the overall operations of healthcare facilities.
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Analysts from Nucleus found that by transitioning its legacy on-premise communications systems to the cloud and modernizing its communications infrastructure with RingCentral, HCM was able to seamlessly transition its agents to work remotely amidst the COVID-19 pandemic and save $1.2 million in annual operational costs and just over $1 million annually in personnel costs.
“HCM’s legacy, on-premise communications system required significant investment each year to maintain,” said Nick Grizzell, research analyst at Nucleus Research and author of the report. “By transitioning to the cloud and transforming communications across its business with RingCentral, HCM was able to streamline integration of external applications and solutions as well as increase internal efficiency and employee productivity.”
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Key benefits highlighted in the case study include:
● Cost savings. The company replaced its old legacy solution with the new RingCentral Call Center, including Workforce Management capabilities that enabled them to reduce the number of agents required by 23 percent as well as enabling them to work from anywhere.
● Increased employee productivity. With RingCentral, call center agents at HCM reduced the overall time spent per call by 30 seconds, freeing up time for additional tasks or phone calls.
● Decreased agent churn rate. After switching to the RingCentral Contact Center, HCM quickly realized an increase in agent satisfaction and a reduction in turnover.
● Increased efficiency. HCM was 3,480 hours annually overstaffed with call center agents before RingCentral. After deployment, the company is trending towards a 20 percent improvement resulting in 696 hours of time savings.
● Increased customer and patient engagement. With RingCentral, HCM call agents increase their availability as RingCentral delivers capabilities for added convenience, such as a callback queue where clients are notified about an available agent instead of waiting on the phone.
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