MANAGE, COMMUNICATE, THRIVE

The Impact of Health Care Reform on Member Correspondence Systems

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Podcast Sponsored by OMI, Hosted by Kevin Craine

Whatever the implications of the new legislation, we can be sure that the process to create and produce member correspondence will be greatly impacted. The volume of communications will rise dramatically to respond to the many market changes. Member correspondence requirements will become increasingly demanding as plan structures evolve. Insurers will need to initiate new systems, products and processes to appropriately comply with the new law and the ability to efficiently manage member correspondence associated with legislative changes - and there will be many - will be vitally important. The pressure for cost containment will become intense as insurers react, often rapidly and without a great deal of clarity, to the new demands in the market place.

Companies can respond to these implications in two ways: with great efficiency or with great inefficiency.  Either way, the results could mean the difference between survival and failure. Indeed, how insurers manage their document processes will have a direct bearing on their ability to navigate the transition and how well they will fare in a post-reform market place.

Many health insurance organizations will struggle to respond to health care reform due in large part to the current state of their member correspondence systems. What is needed is greater "document agility."

 

On-demand consumable management; Save Money & Eliminate Frustration

Have you ever gone to print a report for an important client meeting only to find that your printer was out of ink and you don’t have any toner cartridges in stock? This can be frustrating and costly, especially when you have to stop work, drive to the local office supply store and pick up the supplies you need (at retail price), and hurry back to the office so you can print your job.

On the other hand, to avoid running out at that inopportune moment you can choose to stock your shelves full of supplies. But money is tight, and now you’ve tied up cash in an inventory of materials that may sit for months before they are used. Even worse, your supplies may be stolen or damaged, or even go obsolete as new printers and copiers are brought in.

There is a better way. Large corporations have for years adopted a “just in time” approach print consumables management; they have the procurement personnel needed to make on-demand fulfillment work. But if you are smaller company, it’s likely that you simply run to the store when you need more and otherwise hope for the best.

The benefits of an on-demand approach to print consumables and supplies is an area that should not be overlooked; especially for small and medium-sized organizations that do not have sophisticated procurement systems and dedicated stockroom staff. “Managed print” is not just about print; it is also about managing the materials and consumables that go into each printout or copy.  

Now you can take advantage on-demand fulfillment even if you don’t have an enterprise-sized organization. Our certified Managed Print4U partners will put a program in place that will monitor your activity and assess your volume and demand. From there, we will monitor the supplies on hand and purchase inventory only when you need it. This way you won’t have your precious working capital tied up in obsolete inventory. Perhaps more importantly, you won’t run out of a critical item at just the wrong moment.

Contact us today to find out how you can benefit from an on-demand fulfillment program with one of our certified Managed Print4U partners.

Call 770-814-4284 or email info@outsourcemanagement.com

Online Statements - Driving Savings & Benefits

Despite the increasing digitization of the world today, paper is still a chief mechanism of communicating with customers. The Postal Service estimates that U.S. households receive over 150 billion pieces of mail each year. While about 75 percent is “junk” mail, bills, statements and other transactional documents make up the remaining volume.

Ever since the first electronic bill presentment and payment solutions in the late 1990’s, the notion of paperless billing has been a holy grail for many businesses and organizations. But until recently making the transition to electronic billing has been too complex and expensive for many organizations to consider. But a new breed of solutions like Statement2Web allows you to migrate from paper to electronic statement delivery without the high cost and high level of support needed in the past.

If you have considered moving your customer statements to an online delivery mechanism in the past, now may be a good time to reconsider how Statement2Web can assist in making your strategy a reality. One clear benefit is in postage – by far the biggest expense associated with printing and mailing customer statements. Indeed, the cost of postage has risen 24 percent in the past eight years and organizations often struggle to make the most of postal savings in the face of ever-changing USPS regulations. Moving to online delivery is one way to battle these rising operating costs.

Online statement delivery can dramatically improve your cash flow as well, since customers are more likely to pay outstanding bills more quickly in an online environment. One click is all it takes to pay the outstanding balance vs. having envelopes sit on desks and in in-baskets waiting for attention. This is an important improvement to cash flow, especially in today’s economy.  

Contact us today to learn more about how we can help through our network of independent and certified Statement2Web partners.

Call 770-814-4284 or email info@outsourcemanagement.com

OMI Sponsors Go Green! Protect the Environment & Bottom Line Webinar

Go Green! Protect the Environment & Your Bottom Line |Live on Thursday, March 11th at 2:00 PM EDT | 11:00 AM PDT 

Upcoming Live Event On-Demand Sponsored by OMI:

                   

Just a few short years ago, the buzz was all about "going green." Then the bottom fell out of the economy, and everyone's focus shifted to "saving green." But the two concepts are not mutually exclusive. In fact, this shift in our collective consciousness offers credit unions not only an opportunity to adopt more sustainable and responsible practices but to expand their business to meet these changing consumer demands.

From electronic statements to wind/solar power offices, financial institutions are meeting the needs of a constituency with increasing awareness and concern about the environment. In many cases, these practices and investments can yield immediate and long-term savings for the organization. Some can actually help add to your bottom line.

Join us for this CUtv event which covers several areas in further greening of your business, including:

Sans Paper: No longer is it necessary to kill a forest each month to provide monthly account statements. Nor is it necessary to turn over your paper money . . . for more paper.

Transportation: Have you switched your lending marketing focus to attract more "hybrid" auto loans? Or perhaps you can join the growing number of credit unions who are meeting their demand for bicycle loans.

Green Architecture: The public is increasingly more aware of and more demanding of their retail and service partners to be at the forefront in energy savings, water efficiency, CO2 emissions reduction, improved indoor environmental quality, and sustainable resources.

Green Architecture, Part 2: Many homebuilders are leading with environmental benefits. Consumers are looking for houses that both fiscally and environmentally responsible -- and lenders to with similar values to partner with them.

Remote Deposit Capture: Another tool to help consumers save time, money, and gas with fewer trips to deposit checks -- allowing staff to concentrate on areas of customer service that require face-to-face attention. 

 

OMI Reduces Paper At Pacific Northwest Medical Center

                                                                     

The old adage, “good data equals good decisions,” holds true for this leading medical center in Washington State that recently adopted Print Management Software to better analyze and monitor their workgroup printing environment. With approximately 500 printers spread across a 13 site campus, it became clear to the team of IT analysts that a more complete and flexible business intelligence tool was needed in order to encourage users to reduce printing and adopt electronic document delivery using PDF. The goal was to build user awareness concerning the total cost of printing to the organization. The team also sought to better administer printer leases and vendor billing as well.

After evaluating several competing options, OMI was selected to deploy software solution enterprise wide. OMI provided a flexible and complete print tracking software that monitors printers and printing to help organizations track user activity, identify problems and quantify the total cost of printing. According to the systems analysts on the team, the new solution has bolstered awareness and visibility concerning the environment across the organization. As a result, they are now in position to build meaningful strategies to reduce printing costs by moving to an increasingly electronic environment.

 

 

          Hear the Results!

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The Business of Being Green

 

By: Green T The world is changing. Like the many great empires who came before us, for the first time, we are learning how to cope with having too much. The magazines that used to tell us what to buy now tell us how to de-clutter our lives. Business has also taken a turn. Mail is not received the way it was 50 years ago. In recent years, what used to be a practical and appreciated means of communication has become a burdening clutter. Within merely one year the average person comes in contact with 663 pounds of paper. According to Inform.org "Only about 10% of the paper we consume in a year is preserved in the form of filed documents, photographs, and books or magazines." As our mailing practices change, business must change with it. See How Business is Changing

 

 

Statement2web Competitive Edge at 1st Security Bank

 

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"A lot of financial institutions offer electronic statements and Statement2Web certainly puts us up there with the best of them. It is certainly something we needed to offer in order to be competitive."

Headquartered in Mountlake Terrace, Washington, 1st Security Bank of Washington has been serving customers since 1936. This local bank is dedicated to serving customers' financial needs in the best way possible with the most advanced technologies and services. 1^st Security places the highest priority on customer service, and offering products, services, and rates that rival the best.

It's no surprise then that 1^st Security began in 2006 to offer their customers the convenience and security of electronic statements using Statement2Web from OMI, a managed service that gives banks and credit unions the ability to quickly and cost-effectively implement electronic statements. 1^st Security has just recently upgraded to the new version of Statement2Web and, according to Sandy Hutchins from the business services division, the move has provided a new level of customer service and target marketing that gives the bank a competitive edge.

Sandy Hutchins feels that electronic statements via Statement2Web are helping 1^st Security expand beyond their current market and reach new customers. "It is really allowing us to better serve our existing customers and as new customers come in it is something more that we can offer. Coupled with the added security and the convenience, it makes it an attractive product to have."

National Distributor Cuts Cost with OMI Managed Print Solutions Group

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 Reducing Print,Cutting Costs, Boosting Efficiency at National Distribution Company

"Vendors have asked if they could come in and look at our fleet so that they could save us money. I have to explain to them that we've already taken care of it ourselves."  Keith Royle, Computer Operations Manager-

A National Distributor has distinguished itself over time through its growth, financial success and industry-leading efficiency; so it's no surprise that the company recently embarked on a project to curb overspending in their office printing environment. The OMI Managed Print Solutions Group was engaged to assist with the project and provide objective analysis, and PrinterRx, detailed data gathering software, was used to collect printer device and performance information.

Since the company has a variety of operating centers with a diverse network of printing, copying and multi-function devices, a centralized analysis and management strategy was needed to ensure cost savings and the highest return on investment for their printer fleet.

According to Keith Royle, Computer Operations Manager, This National Leader in Distribution was able to immediately reduce the number of devices in the fleet based upon the analysis. "We wanted to validate our print volumes, as well as what was being printed and who was printing the documents to the MFP devices we have on the floor," said Royle. "And so far what we've done here at our home office is that we had 150 printers and now we only have 37."

Savings as a result of the downsizing have been significant, not only because of the reduced fleet size, but also because the analysis uncovered work going outside of the company that could be more cost-effectively produced inside.  "There was a lot of work that was being done outside, and instead of having it done by somebody else, we're bringing the work back here." By virtue of having better visibility into the volumes and types of documents being printed, the company is now able to make more intelligent decisions about where output needs to be produced for the best cost.

Statement2web Less Paper More Service For NSFCU

                                               

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Nutmeg State Federal Credit Union uses Statement2Web to transition from paper statements to 21^st century electronic communications

Nutmeg State Federal Credit Union (NSFCU) has a long history of financial service and innovation. This Connecticut-based credit union was originally started in 1935 by employees of Southern New England Telephone which is now part of AT&T.  Even in the best of times, credit unions must steadily grow membership to survive, and over the years NSFCU has continually expanded its scope and services. In addition to opening its doors to AT&T, NSFCU also serves over 215 select employee groups, and the communities in and around Hartford County.

NSFCU was founded on the simple premise: "dividends in fellowship." Indeed, in order to join, members purchase a five dollar "share" and become part owner; each with an equal vote for the board of directors. This tradition must be working, because nearly seventy five years later the credit union continues exceed the expectations of its members.

Less Paper, More Service

You would think a financial institution with such a long history would be buried under stacks of paper, but just the opposite is true. NSFCU has recently begun to eliminate paper by offering electronic statements to its members. Once they opt-in to e-statements, members are given access to a fully customized portal where they can view, download, and print their statements, and peruse a complete history of their activities and transactions.

According to Carmelo Roldan, NSFCU's Vice President of Information Technology, the move to electronic statements has not only helped to reduce the printing and mailing costs associated with members statements, but it has also enhanced the level of service the credit union can offer while retaining the integrity of the original printed version. "Electronic statements offer us a lot more flexibility and ability," says Carmelo, "and there is no drawback since members receive the same statement that they would have on paper."

Electronic Statements - a Managed Service

NSFCU's transition to electronic statements was made possible through the use of Statement2Web from OMI. Statement2Web is a managed service available through the credit union's print/mail provider, Harland Clarke Marketing Services. As a result, the credit union was able to implement e-statements without a lengthy development time. "We send an electronic copy of our statement file to Harland Clarke and they send that same file to Statement2Web," explains Carmelo. "The system then creates both a PDF version and an HTML version. Members can view and print the actual version of the statement through a web portal just as if they had they received it on paper."

While NSFCU has been making use of Statement2Web since 2006, they recently began to take advantage of the expanded capabilities available in the new version of the service. "It has been a dramatic change for us," says Carmelo. "We now have the ability to add electronic inserts, add statements, and an electronic newsletter. These were all capabilities that we did not have before with the older version."

NSFCU relies on Statement2Web to enable their strategy to transition from paper based communications to online presentment where it makes sense. The credit union has enhanced the experience of members and reduced the cost of printing and mailing. "We are definitely sending out less paper," says Carmelo. "And as we continue to offer additional electronic statements - like our mortgage statements or our billing notices - we are definitely going to see those costs drop."