Strong foundations, unmatched competence, and a ceaseless drive for achieving excellence are the aspects that exemplify Vee Technologies as a leading name in the global business process management space.
Headquartered in New York, USA, with a powerful blend of people, processes and groundbreaking technology enabled solutions, Vee Technologies works to streamline operations, increase cash flow, reduce costs, and maximize compliance while giving associate organizations a leading edge over the competition.
Pertaining to our edition titled, 10 Most Trusted Revenue Cycle Management Solution Providers, we at Insights Care had the opportunity to interview Mr. Chocko Valliappa, the Founder and CEO of Vee Technologies.
In the following interview, Mr. Valliappa briefs us on the company’s journey to becoming an industry leader; the challenges he and his team had to overcome during the pandemic to sustain operations and market competency; his vision for the company’s future, and more.
Below are the highlights of the interview:
Please brief our audience about Vee Technologies, its values, vision, and mission.
Vee Technologies delivers technology-enabled health information management and revenue cycle management outsourcing services to prominent organizations throughout the United States. Recognition of our excellence comes in many forms – competitive and sustainable business and industry-wide acclaim.
Most recently, the International Association of Outsourcing Professionals recognized Vee Technologies as a ‘leader’ in its list of the Best 100 Global Outsourcing Companies. This follows four consecutive years of being given this award. Additionally, Inc. Magazine recognized Vee Technologies as one of the fastest-growing American companies for the fifth year in a row.
Our client base includes prestigious healthcare organizations in the U.S. and is comprised of large integrated delivery networks (IDNs), academic medical centers, health systems, independent hospitals, ambulatory facilities, physician groups, software companies, and other medical facilities and healthcare provider organizations.
Vee Technologies’ experience outside the healthcare vertical brings a unique perspective to improving business processes in healthcare. The result has been tremendous growth year after year. As an example, one large academic medical center client has grown from a single service to over 40 statements of work across the revenue cycle management spectrum in just six years.
Vee Technologies has offered coding services with significant experience in coding for acute care and ambulatory settings since 2010. We have coders who are experts in inpatient, emergency, observations, infusions, rehabilitation, home health, ambulatory, same-day surgery, medical oncology infusions, radiology, interventional radiology, labs, recurring outpatient, outpatient clinics, and other ancillary chart types. Vee Technologies also performs prospective, concurrent, and retrospective risk adjustment coding reviews.
Charge capture is a regular part of our coding process. A full suite of clinical documentation improvement (CDI) services utilizing both offshore and onshore staff is available. The overwhelming majority of our staff hold Bachelor of Science degrees in Health Sciences or Life Sciences with certifications from AAPC or AHIMA. Credentials vary, based on the type of work and the client requirements.
What aspects make your company standout in the healthcare sector? Tell us more about how your services add value to associated companies and the healthcare industry.
Vee Technologies differentiates itself from the competition by being laser-focused on delivering exceptionally high levels of quality and customer service to our clients. With an emphasis on accuracy, competency, and teamwork, we are well aligned to deliver extraordinary outcomes. This is a conscious and thoughtful decision by Vee Technologies’ leadership to serve our clients in this way.
Achieving high levels of accuracy and productivity starts by recruiting and hiring highly skilled individuals who work well in a team environment. Vee Technologies owns a private university, Sona College, with more than 10,000 enrolled students. The university offers undergraduate and graduate degrees in management, health sciences, and engineering. Vee Technologies administers a coding school at the university where we recruit the best students and provide additional training prior to being assigned to a client project.
Vee Technologies employees are career-driven and highly motivated. Our turnover rates are some of the lowest in the industry due to the support we provide. Because of this, our clients benefit from this stability as employees continually apply their institutional knowledge and experience developed over time servicing the same client leading to even higher levels of quality.
Knowledge by Vee Technologies is an e-Learning platform built with gaming techniques that reinforces classroom concepts with visual aids to enhance learning. Online assignments are completed daily to monitor everyone’s level of understanding of assigned topics.
Candidates advance to the next level of training once they complete assigned modules. The Knowledge platform is also used on an ongoing basis to communicate client changes to guidelines and industry updates, ensuring that all employees are utilizing the most current guidelines for coding.
Distinguished in the industry, Vee Technologies uses a two-layer quality assurance process with 12% of all work performed undergoing this review. Trending analysis is performed at the coder level, hospital level, and provider level.
Deviation from the norm or failure to meet a 95% level of accuracy triggers a root cause analysis. Once identified, coder retraining is completed, and a 100% quality review is conducted until a coder demonstrates the level of competency required. We consistently experience levels of quality that exceed the client’s requirements.
Vee Technologies’ leadership team has created a culture to deliver extraordinary outcomes to our clients. Our focus on accuracy, competency, and teamwork creates an environment with very high expectations, bringing together extremely intelligent people who consistently exceed our clients’ expectations.
Increased financial pressures on the hospitals and provider groups have elevated the importance of managing the working capital. Through our revenue cycle services, Vee Technologies directly helps alleviate these pressures by ensuring a consistent cash inflow. We cover every aspect of the revenue cycle, from scheduling a patient to making an account zero.
Through our services on patient access, we contribute to improved patient experience and ensure that the claims are billed timely to the correct insurance(s). Our strong coding and billing experience helps us ensure accuracy in our delivery, thereby reducing the time and money spent on reworks.
Being a leader in the healthcare sector, share with us your opinion on how the adaptation of modern technology in the healthcare discipline has transformed the industry and what more could be expected in the near future?
Vee Technologies’ technology solutions increase output, improve quality, and offer our clients tremendous year-over-year return on investment.
The result: lower costs, better risk management, and more resources available for improving healthcare services.
There is no doubt that the entire healthcare landscape is shifting, and health systems must find new ways to reduce overhead costs while delivering world-class patient care and healthy financial outcomes. In this new environment, more is expected of suppliers such as Vee Technologies, particularly a smarter service model with smarter solutions.
Vee Technologies is at the forefront of value-based care and population health initiatives and offers solutions to many of the prominent health systems in America. There are few, if any, companies that process more coding transactions than Vee Technologies.
Since 2012, Vee Technologies has been a recognized leader in the coding arena and continues to be an industry-leading force. This is in large part to the company’s ability to process large numbers of coding transactions quickly with impressive levels of accuracy (minimum 95%).
Deep domain expertise in population health, value-based care, and coding is what sets Vee Technologies apart from our competitors. Our proven processes, which have been tightly honed over the course of a decade, are the wellspring of our company’s development and use of technology. We perfected the processes first, and then we determined where automation can add value.
Our competitors’ solutions address efficacy depending only on their technology. With these proposals, clients will still have to identify separate solutions or resources to complete the work that is unable to be fully processed by the technology.
In contrast, the Vee Technologies solutions comprise the very best technology and staffing to bring in the efficacy clients look for. Vee Technologies utilizes certified clinical reviewers and coders to address cases and processes that cannot be handled through technology alone. Our combined solution of technology and highly skilled resources allows us to bend the production curve and affords economies of scale.
Our clients gain more than just cost savings from the relationship. Vee Technologies helps clients become more efficient and use better, more accurate information. This means that caregivers can focus staff resources on what they do best: care for patients.
Businesses turn to Vee Technologies for our complete understanding of the parameters that control payer reimbursements and for our help in creating processes that produce an accurate payment from insurers while facilitating better patient care through coding, documentation, and accompanying provider education.
From the perspective of the revenue cycle, modern technology has directly helped on two significant aspects: improving patient experience and reducing the cost to collect for the hospitals and the provider groups.
Taking into consideration, the current pandemic, and its impact on global economies, how are you driving your organization to sustain operations and ensuring safety of your employees at the same time?
The Coronavirus changed everything overnight as a lockdown was enforced and social distancing became thae new norm. With the lockdown in place, we moved around 3000+ employees to work from home overnight and set up systems for connectivity. We accomplished this with minimum impact on our client deliverables while ensuring security and compliance.
Compliance and Security: Internal policies reworked to ensure the maximum level of security for our clients’ data.
Stable Power and Connectivity: Vee Technologies facilitated UPS for employees at home and also provided broadband/high-speed internet for stable connectivity.
Internal LMS Tool: Even while virtual, our employees have continued learning and training. Our internal LMS is loaded with self-paced training and assessments to help the team remain up to date.
Time Management: We use the time tracking tool “Teramind” to help monitor the time spent at work by each CSR.
Internal Communication: In a work-from-home environment, communication is key. MS Teams has allowed for seamless communication.
Virtual RNR programs: To keep our employees motivated, we offer regular rewards and recognition.
What advice would you give to those aspiring to venture into the RCM space?
The RCM market is fast changing. New entrants to this market must be agile and ready to adapt to changes. The market is shifting to a more technology-based solution, so the days of the labor arbitrage are gone.
How do you plan to scale your company’s operations in 2021?
In times of change, the next step is not always easy.
The entire healthcare landscape is shifting, and health systems must find new ways to reduce overhead costs while delivering world-class patient care and healthy financial outcomes. This evolution leads to the natural progression of strategic partnerships that will consistently deliver excellence in the short and long-term future while continuing to grow together and independently.
In this new environment, more is expected of suppliers such as Vee Technologies, particularly a smarter service model with smarter solutions.
A sustainable partnership model in the pursuit of excellence must be built on a solid foundation of like-minded, interdependent individuals working towards the same outcomes. Just as important, each organization must have a core value that lends credibility and strength to the other, reflected in a unified delivery of excellence.
Vee Technologies is planning to add nearly 1,000 people to our team. We also plan to have ten centers in smaller towns. After the pandemic ends, people need to be closer to their hometowns. We plan to also move people closer to where they work. Another major change will be our move to the Philippines this year, with operations commencing in Manila at the end of April.