Robotic Process Automation (RPA) is being leveraged by the healthcare industry to streamline tasks, enhance the customer experience and even reduce costs. RPA eliminates human error and helps staff members focus on other important tasks. Automation has taken over the healthcare sector and many healthcare organizations and hospitals make use of a Revenue Cycle Management (RCM) software solution to automate tedious financial and billing tasks to improve the revenue stream.
What is RPA?
RPA is a software-based tool that depends on bots to imitate human work. These bots work like humans which helps organizations to automate monotonous tasks to improve productivity levels. Staff members can’t work round the clock but with robotic process automation (RPA) processing times can be cut down and organizations can increase the number of claims with accuracy. RPA-powered abilities are crucial for billing companies to improve efficiency levels and reduce the cost per claim.
Improving revenue cycle management with robotic process automation
The payment posting bot is one of the most favored and common RPA tools used in medical billing. The bots can be trained just like your staff member to post payments. These bots eliminate any human errors as they are designed to accurately post refunds and can also spot underpaid claims. By leveraging the power of payment posting bots medical organizations have been able to successfully automate 70% of medical billing processes, streamlining billing and back-end tasks improving efficiency levels greatly.
Robotic process automation can also be used with integrations. Integrations will permit nurses, providers, and billers to easily access data from any other system with ease. Staff members in your organizations might be using different systems for different tasks, such as patient information, and claims through integration all data is bought in a single platform that can be accessed by everyone.
RPA Tools for your Revenue Cycle Department
The bots are fast to implement and can turn out to be cost-effective as tasks are automated and errors can be reduced. The RPA tools can be easily programmed for scalability as a practice grows. With robotic process automation billers can focus on managing their business and keep patients satisfied through exact and fast billing services. Billing workflows can be streamlined through end-to-end automation helping practices ace their revenue cycle management (RCM) processes. The future of robotic process automation seems favorable as Gartner expects that more than half of provider organizations will invest in RPA technology and tools over the coming years.
