Maryland Department of Health and Mental Hygiene, Maryland AIDS Administration - Business Process Outsourcing for Claims Processing, Disbursement and Treasury Management
The ChallengeFaced with the need to administer the Maryland AIDS program to the highest level of service and the hurdle of meeting financial operations requirements, the AIDS Administration decided to seek a partner who could help them achieve their financial operations goals including astute treasury management and acceleration of disbursements to days instead of weeks.
The Solution
The AIDS Administration decided to outsource the treasury and disbursement functions to Dynaxys while continuing to manage the eligibility determination component of the assistance program.
With its expertise in accounting best practices, Dynaxys could process requests and make payments to participating pharmacies and insurance companies on behalf of the State of Maryland and other partners in less than a week.
As part of this project, Dynaxys also manages $4-5 million in state funds, maintains and reconciles multiple bank accounts, provides monthly management reports to the AIDS Administration and maintains a help desk to answer questions from pharmacies and insurance companies.
The End Result
Participating pharmacies and insurance companies are receiving their reimbursements from the State of Maryland within a few days, which allows them to deliver better service to their customers — AIDS patients. AIDS patients do not have to worry about insurance companies dropping their coverage because of late payments, and participating pharmacies can rely on predictable reimbursement revenues.
The AIDS Administration can concentrate on determining eligibility and managing other aspects of the program. It can be confident that Dynaxys’ monthly reporting will demonstrate that the AIDS Administration is meeting program goals and managing these financial functions securely, accurately, and promptly.
