Using RPA to Improve Revenue Cycle Operations in Healthcare
Robotic processing automation (RPA) is being used in various industries to assist in simplifying operations, reducing time to complete jobs, improving customer experience, and cutting labor costs. RPA automates transactional and repetitive procedures, effectively simulating human behavior for rule-based tasks. As a result, healthcare's revenue cycle can benefit from its transactional and repetitive operations.
What Is Robotic Process Automation?
RPA automates regular processes in a fraction of the time it takes a human to complete them, 24 hours a day, 7 days a week, and without the danger of human mistakes. Scripted procedures with access to applications and data sources, such as end-user health information systems (HIS), data input panels, online application programming interfaces (APIs), and organized and unstructured data repositories, are used to do this.
RPA software can be deployed across departments and geographical locations of a business using virtualization technology and cloud computing capabilities. However, RPA technology, unlike artificial intelligence, cannot change processes without human intervention. RPA, on the other hand, might be used as a stepping stone to more advanced cognitive technologies like machine learning and artificial intelligence.
Lessons From Other Industries:
The reports of successes and failures of RPA applications in other industries provide a roadmap for efficiently applying the technology and identifying scenarios where it might give results to healthcare businesses. For example, account reconciliations are sped up by financial organizations using automation. Logistics firms use RPA to make shipment scheduling and tracking easier. RPA has improved customer experiences in the retail and service sectors by deploying chatbots to respond to inquiries addressed online in real-time.
Across various business processes, the insurance industry is employing RPA in conjunction with more complex decision-making models. RPA, for example, can be used to quickly evaluate and issue low-risk insurance policies if it has access to a solid data store. As a result, underwriters are freed to focus on more difficult analytic and service tasks, while prospective customers benefit from rapid service. The technology has also helped reduce the time it takes to process claims payouts from days to hours while reducing human error. In healthcare, using RPA in similar settings can yield considerable results.
Revenue Cycle Automation Using RPA:
RPA will not be able to automate all revenue cycle processes or eliminate all labor costs. However, it is a cost-effective and efficient tool that simplifies procedures when properly applied.
Use RPA to automate revenue cycle tasks to:
Quickly generate a cost estimate:
Create cost estimates and automate the benefits retrieval procedure.
Assist with pre-approvals:
Collect information from websites and other distant systems and incorporate it into the HIS directly. In some circumstances, even pre-authorizations are required.
Increase the number of opportunities for patients to communicate with you:
Create an email that summarizes the information discussed during a phone contact to discuss the cost of a service or other customer care inquiries.
Reduce the need for human data entry:
When data is held in several systems, combine the information and enter it into a single patient accounting system.
Integrate third-party tools to boost efficiency:
Act as a go-between for third-party technologies that don't "speak" to one another. This permits data to be shared and processed amongst instruments without human participation.
Simple claim denials can be automated:
Staff can focus on more difficult denials by taking over denial resolutions that follow a step-by-step method.
Enhance the customer experience:
Using an online chatbot powered by RPA, provide rapid answers to simple questions.
To develop a strong organizational foundation, you must eliminate inefficiencies and streamline processes. Using RPA to automate specific revenue cycle tasks is a great way to get started.
Final Thoughts:
When deploying RPA for your revenue cycle to optimize your healthcare organization's business model, you must:
Prioritize high-volume, easy processes that can be automated to improve operational efficiency and customer experience while also giving people more interesting, higher-value-add jobs.
Consider the impact of automation on your company's long-term strategy, digital data asset investments, worker capabilities and skills, and workspace planning.
Employees should be challenged and rewarded for driving concrete benefits through RPA and improved intelligent automation. Keep an eye on the results and prioritize future RPA initiatives based on what you've learned.
