CONTACT CENTER
Reducing Misquote Costs by Up to 100% for Payer Contact Centers
Mastering Misquotes
Misquote costs refer to the financial impact resulting from providing customers with incorrect or inaccurate service quotes during their interactions with a contact center. Misquote costs are a critical Key Performance Indicator (KPI) for contact center performance, directly affecting financial outcomes and customer trust.
Reducing misquote incidents in payer organizations helps minimize financial risks and ensures accurate information delivery, enhancing the overall customer experience.
Why are misquotes so costly for payer contact centers?
Misquotes lead to dissatisfied members and unhappy providers.
Low misquotes improves call volumes and streamlines workflows.
It's important to protect escalating costs and catch errors before they occur.
We're experts in targeted agent training that improves accuracy.
Clarity offers expert QA protocols with predictive analytics.
Initial Challenge
At the beginning of 2024, Clarity Performance Solutions partnered with a large payer organization to track and reduce misquotes occurring throughout their contact center. At first, misquote incidents were minimal across most lines of business, with no misquotes reported in January, February, March, May, or June.
However, a single misquote in April led to a cost of $442.47.
Even with low misquote frequency, the financial impact was significant when errors did occur, creating potential risks for financial loss and undermining confidence in service accuracy.
Action Plan
To address the potential for misquote costs, Clarity introduced a multi-faceted approach including:
- Enhanced training for Contact Center agents to improve accuracy in providing service quotes.
- Implemented advanced quality assurance protocols to catch errors before they reached customers.
- Deployed real-time analytics to monitor for potential discrepancies and provide immediate feedback to agents.
Results & Improvements
A 100% reduction in misquote incidents took only 3 months.
Following the introduction of these measures, there were no additional misquotes reported for the remainder of the first half of the year (May and June), and the April incident was isolated as the only occurrence.
Through the elimination of misquote costs, we were able to improve the service quality and financial outcomes of our client’s contact center, fostering stronger relationships with their providers and members. Additionally, our proactive approach minimized the potential for future errors, creating an overall more reliable and sustainable contact center operation.
Eliminating misquotes is the key to minimizing financial risk and providing enhanced accuracy of information to customers.
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