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The Most Interesting Ways Robotic Process Automation Benefits RCM
March 24, 2021
0 min read
Do you wish important tasks like managing patient files, consolidating time sheets, processing claims, scheduling appointments and billing patients could be done faster and without errors? With robotic process automation (RPA), you can automate all of these complex processes to reduce overhead and improve the integrity of your operation.
What is RPA and where does it provide value in healthcare?
Robotic process automation (RPA) is a fancy term for “software robots” that can execute complex processes across all of your business software systems. How does this technology provide value in healthcare? Below are some examples where we've helped customers achieve huge outcomes and generate an outsized ROI.
Claims Management Automation
According to a study by Mordor Intelligence, over 90% of claim denials could be prevented if the systems were optimized by embracing automation technology. The good news is that Thoughtful's claims automation improves speed while curing the following related issues:
- The failure to capture correct patient information
- Claims submitted to the wrong payer
- Processing delays
- Computation of incorrect benefits
- Backlog buildup
- Clerical error
- Employee turnover
. . . and many other complexities involved with medical claims management.
Improved and Expedited Revenue Cycle
Thoughtful has partnered with leading healthcare providers to unlock a variety of strategic outcomes in revenue cycle operations, such as:
- On-demand claims generation and processing
- Increased accuracy and speed of month-end invoice reporting
- Reduced manual inputs and review of patient responsibility
- Automated reconciliation of zero-payments from customers
- Expedited orphaned payment reconciliation
Does this sound like a lot? We recommend starting small with automation, pick processes that are high volume, mundane, and error prone. At Thoughtful, we’re ready to guide you through the automation journey - we offer free process walkthroughs and assessments.
Interested in learning more? Schedule a demo with us today: Thoughtful Demo
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