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Talkiatry + Candid: Talkiatry reduces manual work by 40%, while increasing claim volume

Situation: Manual workarounds for legacy limitations

As a leading national provider of psychiatric care, Talkiatry is taking behavioral health care delivery to the next level. The Talkiatry team knew they needed to improve their revenue cycle management (RCM) program, but had not found a partner that could move the needle. Their previous system's limitations required the billing team to perform significant manual work.

Talkiatry’s scale and clinical focus required a tailored RCM system. Robert Krayn, Talkiatry’s CEO, explained, “Our needs were different than small earlier stage telehealth companies. We were a nationwide company. We are employing providers. We're contracted with hundreds of different insurers. Psychiatry and behavioral health, telemedicine, all of these things are fairly nuanced.” Talkiatry needed a partner who was not only technology-first and scalable, but also understood the specific challenges of their business.

Solution: Redesigned systems for advanced efficiency

Talkiatry chose Candid as their RCM partner because Candid had a completely different viewpoint on RCM than alternatives, from technology to partnership model. Candid stood out for their ability to dig in with the team, understand their specific needs, and then commit to building and delivering a tailored platform.

While moving to a new RCM platform can be challenging, Candid made the transition "very simple and seamless," said Charlie Collins, Senior Vice President of Revenue Cycle. The partnership resulted in a proactive, automated RCM program that connected systems across the revenue cycle, from insurance verification to claims submission and adjudication to bank reconciliation. One aspect that really moved the needle for Talkiatry was reporting – Collins explained “all of these systems work together with Candid to make sure we really have the transparency that we need to be able to operate efficiently.”

Candid's platform includes key features that drive this automation and efficiency:

• Real-Time Dashboard: Provides access to KPIs, days in AR, and denial rates, enabling a proactive approach to RCM.
• Autocoding & Claim Tagging: Reduces manual admin work by translating simple questionnaire data into key-value pairs and custom metadata, instead of requiring providers to code each claim.
• Claim Status Monitoring: Speeds up issue resolution by surfacing stale claims in actionable queues to enable easier resolution.

Results: A new standard for revenue cycle automation

By partnering with Candid, Talkiatry unlocked major performance gains. The automation implemented with Candid has helped Talkiatry dramatically improve the efficiency of their team, reduce manual work, and improve every revenue cycle metric.

Despite a significant increase in claim volume, Talkiatry did not have to increase its RCM headcount in order to achieve the impressive outcomes it has achieved, including a 40% reduction in transactional work while increasing claim volume 45%.

According to Collins, "Automation is the next generation of revenue cycle, and I really think Candid will be the ones to take us to the next level."