Case Study: Voyage Venture Pharmacy Billing Solutions, LLC
Providing a new way to care for patients.
Voyage Venture Pharmacy Billing Solutions (VVRx) has had a huge impact on the amount of revenue their medical practice clients are able to generate. They have made it their mission to simplify billing for workers compensation, personal injury and no-fault claims while revolutionizing prescription access in independent practices nationwide. At one end of the spectrum, they will handle all workers compensation claim billing including the necessary follow-up for collections, so medical organizations maximize their ancillary revenue. Additionally, VVRx has made it easy for practices to set up their own mini office pharmacy featuring medications their providers most frequently prescribe. These features, among others offered exclusively by VVRx create the opportunity for healthcare organizations they work with to increase their bottom line. Helping doctors focus on patient care and relieving the time constraints that are created from the billing and collections process is why they exist.
Thinking Beyond the Spreadsheet
Excel is still the go-to bookkeeping tool for many businesses and it can be extremely useful. That said, even the most complex spreadsheet has its limits, especially when you need to provide reports to your clients. VVRx was able to use Excel to keep track of their key performance indicators (KPIs), balance sheets, one-page reports, etc., but when it came to presenting their financial successes, the presentation lacked a certain level of professionalism. After meeting a member of the DataDx team, Louis Taylor, Managing Partner at VVRx, decided to investigate what this new software designed to link various healthcare operating platforms could do for his business. Even though the Software as a Service (SaaS) was still in its infancy, the hope was they would be able to connect all their different systems and deliver more comprehensive real-time reports.
“I had spent a lot of time making sure our Excel spreadsheet was able to track all the most important indicators and organize them into concise reports. And let me tell you, it was a beautiful sheet! However, even though we had built an extremely robust sheet, at the end of the day, I knew a more professional-looking presentation to share with our clients was possible. I couldn’t have imagined the solution would present itself while serving on a Board with Jessica McBurney from DataDx in 2019. Right away, I could see how their SaaS platform might be able to provide what we were missing. I worked closely with the Implementation and Design Team to make sure it could perform the way we wanted it to, and I personally couldn’t be happier with the reports we are able to show our clients now.”
Louis C. Taylor; Managing Partner, VVRx
Better Quality Doesn’t Have to Cost More
“While the need for a more professional look was the original intention for switching over to DataDx, I was impressed right away by how much money I saved. Even as robust as our Excel spreadsheet was, it didn’t automatically upload new data sets. That part of the old process was entirely manual, and I paid a contracted employee thousands of dollars every month to key in data from three separate systems. That led to reports that were anything but ‘real-time’ because, in part, I was at the mercy of another person’s schedule. Typically, the analytics were a month old by the time I could review them in a comprehensive way. With DataDx, not only am I saving about 300% of what I used to pay but having an automated process for uploading new data means I can get the most current insights into by business at a moment’s notice.”
Louis C. Taylor; Managing Partner, VVRx
So often, better quality and convenience do not come at a lower price but that is often one of the biggest advantages of automating a once manual process. This can be especially beneficial for small to midsize organizations that have less flexibility in their budgets and strive to minimize wasteful spend where they can. Having to rely on an individual for this specific task can open the door to inaccuracy and extensive delays. With the DataDx SaaS platform, data is uploaded automatically, free from human error, and the dashboard is constantly updated with real-time reports to review.
Date Specific Searches Are a Huge Advantage
One of the best features of DataDx SaaS is the ability to do look back at any timeframe and get a full snapshot of the analytics specific to that period. That means data can be tracked all the way from the day a company is fully onboarded to the day they run a reports search. Since data is uploading all the time and is then stored for various updated reports, whatever information is useful within the moment is just a few clicks away. This ability was unheard of in medical and dental practices prior to DataDx and has proven to be extremely valuable for any healthcare business, like VVRx, that works with patient information and multiple other systems.
“The way DataDx consolidated my key performance indicators is one of my favorite features. Add to that the ease of use and ability to look at any trailing period whether it be 12-month trailing, 1-month trailing, or any customized timeframe. I can track revenue and compare data over a certain period which enables me to review our low months versus the high months, track averages and reflect on the business in multiple ways. We did not have that ability before because the old Excel spreadsheet never had rolling averages. Now we have the ability to plan for predictable valleys in our sales performance and implement strategies to ward off those historically low months. DataDx has really helped us level up as a company.”
Louis C. Taylor; Managing Partner, VVRx
Customer Service Still Matters Too
“Since our company was onboarded and DataDx has been up and running, I have had very infrequent customer service needs. The platform itself has performed exactly as we wanted it to and, as I have already indicated, gives us unparalleled access to our data. However, when we have had an issue, the DataDx team has always been very responsive and proactive about resolving any service needs we have faced. It has never been a challenge to get a problem solved or speak with someone expeditiously via phone call, virtual conferencing or any other means of communication that works best for my schedule. That kind of service is refreshing to say the least.”
Louis C. Taylor; Managing Partner, VVRx
When dealing with a SaaS platform, you need to make sure the service part of that acronym is as good as the software itself. Issues can happen even with the most well-known systems, so ensuring you have a responsive team available to resolve any unforeseen problems helps your business stay on track. Since the DataDx platform was built for small to midsized medical and dental organizations, their technical team is very conscientious of the prompt service they provide. Independent doctors have traditionally been at an analytical disadvantage from larger institutions but with this software, they can finally make data-driven decisions for their business. VVRx was one of the earliest companies to believe in this vision and it is clear that after a few years of being on the receiving end of the DataDx experience, Louis has only great things to say.