Challenge
The nation’s leading provider of dental insurance is a long-time customer of Exela. Serving more than 78 million Americans, their business requires printing, inserting, and mailing more than 8000 patient applications, Explanation of Benefit (EOB) statements, and checks on a weekly basis. The company decided its traditional way of doing things, with high costs and delays, needed to change. They were relying on an inefficient cut sheet method of check printing which involved feeding individual, unattached sheets of paper into the printer. Stacks of pre-printed checks were purchased and merged into the print-stream and electronically overlaid on each sheet of paper. Purchasing checks and storing reams of paper translated into unnecessary costs for the company. Excessive processing delays were another concern, as the cut sheet method was limited to a print speed of approximately 130 pages per minute. Consequently, it was taking longer to produce, insert, and mail checks to the customer.
Solution
The company had been utilizing a variety of Exela services over the past 15 years. It turned to Exela for strategic guidance as it sought to continuously improve business-critical processes. So when Exela introduced a more efficient and cost-effective approach, the company eagerly accepted the recommendation. By switching to inkjet technology, the company gained process efficiencies and measurable savings in both time and money. Unlike cut sheet printing, inkjet technology accommodates continuous batch printing with a single role of paper fed through the printer. Additionally, inkjet printer technology eliminates the need for multiple pre-printed checks.
Results
Overall, the company benefited with technology that enabled their transition to more advanced and efficient print methods—leading to cost savings, faster turnaround times, and improved productivity.
Specifically:
- Inkjet printers are 5X faster than the company’s previous method.
- Turnaround time for weekly printing and processing decreased by 1 ½ days.
- Check costs decreased from approximately $16/1000 to $6.90/1000.
- Increased savings on paper and check stock.
- Increased savings on paper storage and associated inventory management.
- Improved productivity while decreasing the number of machine-operators needed.
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