How PRM Is Helping Rectangle Health Transform the Competitive Healthcare Payments Industry
Over the last several years, healthcare has been considered one of the most difficult industries to make payments in. Today, challenges around price transparency and payment options continue to directly affect transactions (and the bottom-line) across medical practices, healthcare organizations, and insurance groups. As a result, there’s a domino effect that equates to fewer appointments, longer receivable cycles, and ultimately an unfortunate inability to provide quality treatment.
To solve these challenges, healthcare systems and practices are on the hunt for fast, data–rich products and services that can:
- Solve their billing and administrative woes
- Make sure doctors get paid on time for services rendered
- Provide a smooth and seamless payment experience for patients
- Improve staff efficiency
- Increase revenue
Tackling the issues of payment processing at scale?
But this is no small task. So, how did one leading healthcare technology company, Rectangle Health, solve these problems? They tackled the issues of payment processing at scale and helped free up more time for providers by creating a program called Practice Management Bridge®. This program uses cutting-edge tech solutions to make the connection between healthcare payments and an improved patient experience easier. It boosts office efficiency, drives revenue for healthcare providers, and offers numerous convenient, contactless payment options for patients.
Now the company just needed a way to get the ‘Bridge’ service into every medical and dental practice across the United States. And they wanted to go big!
Because Rectangle Health works within a wide variety of healthcare fields, including dentistry, medical, and specialty practices, the company recognized that forming partnerships would help them achieve the nationwide reach they were looking for. The challenge? Getting their partners to understand the value ‘Bridge’ brings and enabling them to amplify core messaging efficiently and accurately. At the same time, they wanted to create interest and excitement among their partners – to inspire them to work toward a collective goal.
Rectangle Health needed to accelerate its partner channel – quickly, efficiently, and sustainably. The company had just started bringing in some partner business and accelerating their partner channel. They needed something that would help their partners record lead opportunities, access data that would drive results, and get them excited about entering deals and seeing where those deals go.
Partner Relationship Management answers the call, and overcomes the roadblocks
Rectangle Health quickly realized the value a Partner Relationship Management (PRM) platform could offer in helping to automate partner activities, and that’s why they chose Impartner PRM. But it also needed to fit their approach, goals, and roadmap, and be functional, easy to navigate, flexible, customizable, and seamlessly integrates into other platforms (like Salesforce). And most of all, they needed a tech partner that would take the time to understand their needs and business – and their biggest roadblocks.
Roadblock #1: Executive buy-in and stakeholder alignment
From an internal standpoint, company-wide alignment is critically important, especially for large digital transformation initiatives (like Partner Relationship Management). Without it, strategies are effectively worthless. Impartner delivered immense value for Rectangle Health on this front in two significant ways:
- By helping Rectangle Health’s Vice President of Digital Operations Joe Rocchio position their partner portal in a way that Executives could understand where the company could go with PRM and what the result would be.
- Impartner’s business development team helped align with existing partners/stakeholders to tailor the portal to their specific needs.
Roadblock #2: Partner experience
If there’s one thing healthcare providers lack, it’s time. They don’t have the capacity to keep an eye out for emails, brand and solution updates, or manually upload content. Rectangle Health needed to make it easy for their partners to engage and do business with them; and provide them with the right tools, data, transparency, and incentives to support them in becoming champions for ‘Bridge.’
Impartner’s PRM solution allows Rectangle Health to manage, optimize, accelerate, and automate every aspect of their channel from a single centralized location (enabling great partner performance). That means:
- Accelerating partner onboarding with automated processes for quicker paths to revenue.
- Giving partners easy access to up-to-date marketing and education materials that they can then use to amplify the message.
- Energizing partners with an easy-to-use interface, and a personalized partner experience.
- Giving partners an easy way to record lead opportunities opportunities and enter and manage deals
- Giving partners access to data that incentivizes and drives results.
But Rectangle Health also wanted to extend their automation capabilities beyond just core PRM. For partnerships to work, for them to be engaged enough to want to amplify a solution or product’s message, the partner experience must come first. It’s got to be easy. It’s got to be efficient. And it’s got to be incentivized. What will excite a partner is seeing the growth of the leads and opportunities they’re bringing into the business. And showing that information in a creative and consumable way, particularly to leadership.
As a result, Rectangle Health also deployed Impartner’s Intel Plus tool and customized it to their partners’ needs to offer a visual representation of where growth is happening and the challenges.
What results have Rectangle Health achieved with Impartner PRM?
The company now has the most advanced PRM technology available. They have organizational alignment, and clear objectives and strategies. And through collaboration and a deep understanding of Rectangle Health’s business and their needs, Impartner has delivered a partner automation solution that enabled Rectangle Health to drive growth, improve operational efficiencies, and scale more quickly. They said it best:
” I’m proud to say that Impartner has been a true partner to us, continues to check in to make sure we’re meeting the needs of our partners and growing and gaining efficiencies, and I look forward to seeing what comes next. “
—Joe Rocchio, Vice President of Digital Operations, Rectangle Health
With the help of Impartner, Rectangle Health is poised now more than ever to expand its footprint as a market leader in patient healthcare payments.