What Payment Integrity Partners does
Leveraging over 20 years of industry expertise, Payment Integrity Partners is at the forefront of using technology to drive insights that increase business revenues. Prioritizing maximum recoveries and audit excellence, they utilize a proven, methodical approach with proprietary technology to uncover uncollected funds. Their distinctive advantage enables them to identify valuable business insights, aiding clients in making informed decisions that will enhance revenue or limit risks that significantly impact the bottom line.
The Current Landscape
The industry is undergoing a dynamic transformation characterized by several key trends. Notably, there is a significant emphasis on accelerating recovery processes while maintaining accuracy—a delicate balance that leverages advanced technology to streamline operations. Unlike the traditional perception of recovery-focused services, Payment Integrity Partners stands out by tapping into every crucial data source, offering both recovery audit insights and broader business metrics. This holistic approach aligns with the industry's evolving landscape, challenging the conventional recovery-only mindset.
Competitors are exploring avenues beyond recovery audits, emphasizing the need to understand true net costs from vendors. Payment Integrity Partners excels in this arena, providing a nuanced understanding of vendor expenditures, including insights into the profitability of individual items and shopping analytics. While a couple of larger competitors persist, the industry is witnessing innovation primarily from smaller players. These entities are at the forefront of technological advancements, introducing novel ways to recover dollars and deliver invaluable insights. As the landscape continues to evolve, it's evident that a deeper understanding of the client and their customer behavior are opportunities to drive new revenue streams within the industry.
Company Birth Story
Founded in 2015 by industry veterans and headquartered in Charlotte, NC, Payment Integrity Partners boasts a team of data scientists and audit experts with an average of 20 years of experience. The company leverages this collective expertise, extensive experience, and professional curiosity to thoroughly understand the evolving landscape. For Payment Integrity Partners, the founding principles revolve around delivering exceptional results and elevated customer service directly to clients. It's a commitment to surpassing industry norms, ensuring that recoveries and insights provided align seamlessly with the unique needs of every client. The birth of Payment Integrity Partners marks not just the beginning of a company but the start of a journey focused on changing how the delivery of business insights benefit our clients.
The Solution
Payment Integrity Partners is at the forefront of recovery audit transformation, actively constructing a comprehensive framework that surpasses industry norms. Emphasizing a methodical and innovative approach, they utilize cutting-edge technology and a commitment to excellence to uncover uncollected funds. The company combines customized client service, industry expertise, and the latest technologies to power revenue and identify crucial business insights.
Leveraging their expertise, experience, and professional curiosity, Payment Integrity Partners delves into the intricacies of a clients' evolving business. Here, they uncover valuable insights within the data to enhance business performance and profitability. Their approach includes optimizing recovery audit execution to maximize recoveries, identifying recurring sources of errors, recommending process/system improvements, and developing customer insights to boost sales and margins.
Employing a streamlined audit process to prevent recoveries from aging, Payment Integrity Partners discerns the distinctive aspects of clients' operations, consistently unlocking value. With a success rate of 90% or more in identifying valid recoveries, their comprehensive audit approach reveals overlooked areas 100% of the time.
A Customer Story
Payment Integrity Partners played a pivotal role in achieving remarkable results for a Wholesale Cooperative through a collaborative and results-driven approach. The AP Manager of the client accurately captured it, stating, "That's why we like Payment Integrity Partners; they bring solutions to real challenges."
Payment Integrity Partners helped a retail cooperative identify 35% more missed collections in a secondary audit. The client recognized the value of their comprehensive approach, leading to the identification of two additional claim types that propelled total recoveries to nearly $6 million. Transparent communication about potential leakage and risks empowered the client to take recommended actions, accelerating the collection of dollars due and contributing to a reduction in overall costs.
The Team Culture
At Payment Integrity Partners, the company's culture is built on a client-focused approach that yields superior results in the industry. The business model stands out—clients are not charged until recoveries are identified, transferring the risk to Payment Integrity Partners. This unique model ensures a mutually beneficial outcome; once recoveries are found, both Payment Integrity Partners and the client share a percentage of the identified dollars.
The culture at Payment Integrity Partners is deeply ingrained in a commitment to finding ways clients can improve business outcomes, fostering a team atmosphere that maximizes the benefit of each project. Prioritizing collaboration between audit experts and data scientists, they bring together tech expertise and audit proficiency to achieve optimal efficiencies. Their fee-based business model for clients and a commission-based structure for employees creates a culture equally rewarding for both, aligning success with clients' interests.
A founder quote
“I founded Payment Integrity Partners with a vision of revolutionizing recovery audits. We strive for excellence as a standard, and our journey is a testament to our commitment to delivering exceptional service, driving revenue, and improving outcomes for our clients. By consistently exceeding expectations, doubling recovery dollars, and setting new standards for innovation, we have redefined success in our industry.”
Check it out : https://paymentintegritypartners.com/
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