The Top 5 Healthcare Sectors Benefiting From Eligibility Verification Automation
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Every minute and dollar saved in the back office is a minute and dollar that can go towards providing excellent patient care.
Considering labor costs alone, hiring a claims analyst to perform this task can cost an estimated $2.50 per record. Our bot performing the same job could cost you less than a dollar per record, and it will be processed in a fraction of the time. That labor cost doesn’t include the high cost of turnover and the associated productivity dip as new hires are onboarded and trained.
A bot only needs to be trained once and can handle a near-infinite workload without even a break. Humans are also, well, human. Mistakes in processing claims can be a massive hit to your organization at a time when efficiency is everything. A bot will do precisely what it is trained to do with perfect accuracy; it doesn’t even know how to deviate.
With PHE ending in 2023, expect chaos in the back office
The labor market is tightening and the healthcare industry is not immune. With the pandemic, national nursing shortage, and more, budgets are shrinking to ensure that the top priority, patient care, doesn’t fall victim to economic dips.
On top of that, the federal Public Health Emergency is set to end in 2023, including continuous coverage. To ensure patients continue to receive the care they need, there will be a massive bolus of work to check and recheck Medicaid eligibility. Now is the time to invest in tools that will help your team improve the efficiency of back-office operations, freeing up your team to focus on patient engagement.
Thoughtful has Medicaid eligibility claims verification
down to a (perfect) science
Automating your Medicaid eligibility verification processes is quick and easy; no technical experience is required. You walk us through your unique requirements, and Thoughtful will build a fully custom bot that will deliver real value within 6-8 weeks. With just a tiny lift from your team, you’ll start seeing massive cost savings, up to a 10-fold improvement in OpEx, virtually perfect output, and a happier human workforce.
Learn how much Thoughtful's bots can impact your business.
Regularly checking Medicaid eligibility, especially for organizations with a large population of recurring patients, keeps providers away from their mission-oriented work – caring for patients. Our bots are trained to log into any website, EHR, or CRM to identify patients that require an eligibility check, perform that eligibility check within the state’s Medicaid portals, and then make the corresponding updates in the system of record.
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The Top 5 Healthcare Sectors That Benefit From Eligibility Verification Automation
Applications of hundreds of clients across multiple states were processed simultaneously
Thoughtful designed a smart bot to automate 45 clicks, covering three different applications.