Safeguarding Data Integrity: RealPhoneValidation’s Solutions for Healthcare, Insurance, and Finance

Companies regularly collect customer contact information like names, phone numbers, and emails to provide personalized experiences, enhance customer satisfaction, and drive business growth. For many businesses, this data is at the heart of their success, and safeguarding it is the top priority.

Unfortunately, customer phone number data decays at a rate of around 18% per year, and when you add email and address decay, it goes to as high as 23% per year, which means many businesses are also forced to watch this priceless resource slip away like sand through an hourglass. According to reports from Salesforce, at any given time, only around 70% of a company’s CRM data is accurate and up to date, and the size of these dwindling contact lists can be mind-boggling. 

“Our lead generation customers typically validate hundreds to thousands of numbers every day,” says JoAnn Fitzpatrick, COO at RealValidation™. “We validate hundreds of thousands to millions of numbers each day for our corporate clients. When we enable these organizations to identify disconnected phone numbers, we empower them with an increase in return on investment, less operational waste, and better customer interaction.”

What is data decay?

Contact info expires just like produce from the grocery store in today's fast-paced digital landscape. The phenomenon known as data decay, or data degradation, occurs as the accuracy of contact lists deteriorates with time. As customers change residences, jobs, phone numbers, email accounts, or even simply enter wrong contact information, a large stash of data inevitably becomes less valuable over time.

“For certain sectors, data decay is a major concern,” observes Fitzpatrick. “When companies cannot effectively reach customers due to unreliable data, the result is missed opportunities, decreased customer engagement, and potential revenue loss.”

In the healthcare industry, for example, appointment scheduling and follow-up care make precise contact information of the utmost importance. Unreliable contact information disrupts crucial patient communications and emergency contacts. RealPhoneValidation™ can help ensure healthcare professionals have accurate patient phone numbers by identifying the disconnected numbers, healthcare providers reduce the likelihood of missed appointments and increase patient involvement.

Phone contacts are also vital for insurance businesses as they reach out to new customers or handle claims. Effective claim processing, insurance changes, and customer outreach rely on accurate, up-to-date contact information. Insurance companies save valuable time, resources, and effort by verifying customers' phone numbers before attempting to contact them.

Additionally, in the financial sector, customer service, fraud prevention, and compliance rely heavily on accurate customer data. This is one industry where inaccurate information can easily lead to security issues and unhappy customers.

RealPhoneValidation finds a solution to address data degradation

“RealPhoneValidation was inspired when our lead-generation business, VOISYS, needed a tool to increase the quality of the leads we delivered,” Fitzpatrick remembers. “Our CEO, Nick Spiridellis, experimented with other validation solutions on the market, was dissatisfied with the results, and stepped forward to fill the gap.”

When Spiridellis integrated his all-new personalized phone validation strategy into VOISYS's procedures, he was pleased to see simplified operations, savings in resources, and an uptick in client satisfaction. In time, Spiridellis expanded the scope of his validation service beyond assessing new leads, and his improved solution was capable of discovering disconnected numbers in client lists and databases. The in-house solution's success quickly garnered positive feedback from clients who approached Spiridellis, asking permission to implement the lead validation strategies themselves.

Differentiating itself from competing validation systems, RealPhoneValidation checks carrier and telco data in real-time. If the validation service detects that a phone number has been assigned to a user, it notifies the client of the number's connected or disconnected status.

By contrast, most other validation systems merely classify numbers as “active/inactive” or “valid/invalid.” The “active/inactive” designation simply verifies that the number is registered to a carrier rather than being assigned to a user. Furthermore, the “valid/invalid” status only checks that the number is formatted correctly, not that it is currently in use.

RealValidation’s flagship product, RealPhoneValidation, provides the most accurate information available. The knowledge they provide clients about whether a phone number’s status is labeled as “connected/disconnected” is invaluable in terms of lead valuation. 

“The ability to offer more detailed, precise, and relevant information is what helps our service stand out from the rest,” Fitzpatrick notes. “Our targeted and effective techniques directly correlate to our system’s improved data accuracy. We help businesses increase conversion rates, decrease operational expenses, and prevent waste.”

RealPhoneValidation also enables companies to reduce their legal and financial risks. After all, complying with regulations is far easier when accessing reliable data.

“Keeping your data current goes a long way toward strengthening your brand’s reputation,” Fitzpatrick notes. With RealPhoneValidation, users can validate their phone numbers in three convenient ways, including accessing the service through secure file transfer protocol (FTP), user portal batch processing, and API access for real-time validation.

“Fight data decay and safeguard the integrity of your database by validating your phone numbers,” Fitzpatrick concludes. “When you take steps to keep your business’s contact information up-to-date and accurate, you enable better decision-making and stronger relationships with your customers.”