Improving Healthcare Revenue Cycle Performance With Robotic Process Automation
More than ever healthcare organizations face tough challenges in their efforts to control costs while delivering quality patient care. This is true for hospitals and health systems, physician groups, health plans, self-insured organizations and even healthcare related outsourcing providers.
While many of these challenges impact healthcare providers on a variety of fronts it is particularly true in the area of Healthcare Revenue Cycle Management. Robotic Process Automation (RPA) supports healthcare providers by helping them apply process automation to many of the most labor intensive, costly and error prone activities within Healthcare Revenue Cycle Management.
These technologies help keep healthcare providers’ Revenue Cycle efficient and compliant, which accelerates cash flow, reduces accounts receivables and minimizes un-collectable debt write-offs. Functional process areas for healthcare organizations to consider for Robotic Process Automation include:
- Patient Scheduling
- Claims Administration
- Enrollment and Eligibility
- Clinical Documentation
- Charge Capture
- Medicare Billing and Compliance
- Audit Management
- Secondary Claims Management
- Accounts receivable/denial recovery
- Patient Self-pay Administration
From patient registration to coding to claims to audit, by applying RPA to rules-based, labor intensive and error prone processes in the healthcare revenue cycle, Healthcare Robotic Process Automation solutions help accelerate workflows, improve accuracy and free internal staff to focus on true process exceptions.
Healthcare Robotic Process Automation enhances processes from patient registration to final collection. Benefits of Healthcare Revenue Cycle RPA include:
- Decreasing AR days, increasing reimbursements and enhancing coding compliance
- Improving billing efficiency to accelerate cash flow, reduce accounts receivables and minimize write-offs
- Accelerating turnaround of claims and payments
- More accurately and more quickly resolving aged receivables
- Validating health plans and third party insurance eligibility
- Optimizing secondary claim processing and follow-up
- Improving processes for patient-responsible balances
- Better data quality and faster processing to improve Federal compliance on Medicare claims filings
- Improving data quality and compliance for Recovery Audit Contractor (RAC) and other Medicare audits
Whether you are a health system, physician group, health plan, self-insured organization or even a healthcare outsourcing provider, your revenue cycle operation must provide continuous margin improvement while effectively driving financial results. RPA and business process experts can help you meet these challenges and spend more time focused on providing quality patient care.