Alleviate your Medical Practice’s Operational Challenges via RPA Implementation

“McKinsey states, more than One-Third of tasks in the healthcare industry could be leveraged with Automation.”

Business process automation technology lays its foundation on making the best use of software robots that can effortlessly automate manual, rule-based, and repetitive tasks. 

Powered by cognitive technologies, Robotic Process Automation is one such significant segment that is looked upon by the healthcare industry and is deemed to be a good fit for Revenue Cycle Management.

Over a holistic evaluation of RPA in the Healthcare market, it was valued at USD 1,071M in 2019 and is projected to reach USD 1,704.2M by 2027, growing at a CAGR of 6%from 2020 to 2027.

When the talk is about the collection of data and information by healthcare establishments on a daily basis, it would be hard to imagine the extent to which it is accumulated from various internal/external sources. (clinical applications, third-party portals, scheduling applications, lab information systems, radiology info systems, insurance portals, ERPs, and HR applications.)

 

 

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Managing and integrating the flow of data between these expandable repositories is a complex task that possibly poses risks to the accuracy and quality of data. To overcome the compounded issues in medical billing and revenue cycle management processes, companies are greatly relying on digital mediums (RPA) to automate back-office and administrative tasks.

“RPA technology refers to the development and use of soft-bots, capable of interacting with different programs, websites and computer applications just as a human being would, being able to replicate the different processes of a business.”

The adoption of robotic process automation software tools enables businesses to unlock incremental revenue opportunities, eased digital transformation, and greater returns on investment, with the capabilities of performing the bulk of operations. 

[Prefer Reading: “6 Ways Revenue Cycle Management (RCM) System Reduces Errors & Increases Revenue.”]

Susceptible Use Cases of Automation in Healthcare

There are enormous processes that are susceptible to automation in the Health sector, such as 

  • Patient registration
  • Billing and claims procedures
  • Medical management
  • Audit processing
  • Relationship with suppliers
  • Customer services
  • IT Structure of medical practices
  • Orchestrate data streams
  • Business analytics and reports

These are a few tasks that can be assumed and considered by software robots in hospitals, laboratories, and pharmaceutical companies.

Medical appointments of patients; planning hours and days for health personnel; the control of minimum stocks and inventory of material and resources; generation of reports and analysis of the business situation, resources, and service; inefficiencies in communication and information transfer; or billing suppliers of material and patients for health services are some of the activities that can be performed by softbots in the day-to-day running of a health entity.

The RPA technology offers many advantages, because it is compatible with other existing systems, improved management, and process control, reduces time, eliminates errors, guarantees the confidentiality of data, increases productivity, and saves costs.

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Capabilities of our RCM-RPA Bots

Understanding the unique needs and ability to drive and adopt changes, our RPA robots are capable of standardizing and automating the vital areas of medical billing processes, limiting human intervention to a great extent.

Take a rundown:

  1. Collection of data from different streams
  2. Credentialing patient information (eligibility and benefits verification)
  3. Automated payment posting
  4. Analyzing the state of the claim
  5. Filling EHR fields across disparate systems
  6. Update patient knowledge repository with supervised learning 
  7. Automatically corrects and resubmits claims
  8. Performs specific follow-up tasks
  9. Achieve consistent accuracy with robust algorithms
  10. Monitor claims and drives clean claim rate
  11. Reduce denials avoiding errors in the dependent processes
  12. Checks for invalid combinations and improves resolution time
  13. Flags issues that involve manual interference
  14. Generate actionable insights and reports on success and failure parameters

Robotic Process Automation can be your best ally as the digital solutions rendered by them can take on a series of tasks, execute them quickly, accurately, and safely, and in this way free up professionals so that they can invest that time in activities that generate more value. 

Benefits to Reap from RPA for your Revenue Cycle

Robotic process automation, powered by cognitive technologies, has refined the workflows of revenue cycle management and allows businesses to garner the following benefits:

“RPA software bots accelerate processes, work faster than a professional, reduce errors, and do it 24/7.”

#Reduce Manual Data Entry

RPA bots deployed into the medical software systems are proficient in collecting data from varied streams and storing it into the patient system while syncing it across multiple networks. One bot can replace at least five human workers, depending upon the course of work.

#Assist Preauthorizations

Applied automated bots collect data from other systems and websites and integrate information directly into HIS and also submits for pre-authorization.

#Integrate Third-Party Tools

The third-party tools implemented within the systems which have the least/no interaction with each other are allowed to share and process obligatory information without human intervention.

#Automate Claim Denials

Gaining complete control over denials and rejections of claims, software robots allow human intervention only in handling complex claim denials that need close heed.

#Boost Patient Communication

Bots are effective in generating automatic personalized emails that summarize information related to customer queries or service costs discussed over the call.

[Prefer Reading: “5 Ways to Improve Claim Denial Rates For Your Healthcare Center.”]

Achieve Sustainable ROI with the Right Partner

The trajectory of medical spending is perhaps unsustainable. Nevertheless, we aim to drive excellence in healthcare via individualized and customized RPA solutions that are efficient in resource utilization, end-to-end automation, integration of functionality, and accelerating financial gains.

“We Blend the Right Mix of Human and Machine Potentiality to Capture Great Revenue Results”

Revolutionize and optimize your medical practice’s revenue cycle with NetSet Digital and enrich patient experience in new ways harnessing the untapped potential of robotic process automation.

[Prefer Reading: “Benefits of Outsourcing Revenue Cycle Management (RCM)“]

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