How Robotic Process Automation (RPA) Can Optimize Your Healthcare Organization

How Robotic Process Automation (RPA) Can Optimize Your Healthcare Organization

Robotic process automation (RPA) in Revenue Cycle Management

Robotic Process Automation has been one of the biggest buzzwords in revenue cycle management in recent years.   

RCM optimization consultants love to talk about automation and artificial intelligence. However, it can be difficult to know how to best implement automation in your organization.  

Robot process automation (RPA) is one area of automation where growth has surged – especially in revenue cycle management and healthcare. 

What is robotic process automation? How does RPA work? Find out everything you need to know about the benefits, use cases, and downsides of robotic process automation today. 

What is Robotic Process Automation? 

Robotic process automation is a fancy way of saying “we make a robot do a job for us.” 

With robotic process optimization, you teach a computer to execute a command, or a series of commands, based on certain conditions. 

Revenue cycle management has plenty of tasks that are repetitive, complex, and performed manually. RCM is also filled with rules. These features make RCM ripe for disruption through RPA. 

With RPA, you teach robots or bots to automate repeatable processes. Robots don’t have the problem-solving skills of humans. However, a well-implemented RPA system can deliver human-like benefits. At best, RPA can replace human employees while performing a similar job. At worst, RPA works as a virtual helper for human employees. 

How to Use RPA in Revenue Cycle Management 

Organizations are finding new ways to implement robotic process automation in their day-to-day systems. 

Some of the use cases for RPA – and potential future use cases for RPA – include: 

Verifying Insurance: Verifying insurance is often a manual process performed by humans. A growing number of organizations are using RPA to automate certain aspects of this process.  

Managing Prior Authorizations: RPA can help manage medical and prescription drug plans, including prior authorizations. Some healthcare organizations have explored the use of RPA for pre-authorization or prior authorization. The prior authorization system requires numerous checks and balances. RPA can automate many of these checks and balances, speeding up the process and optimizing organizational performance.   

Administering Claims: From billing to processing to collecting payments, claims have plenty of administrative tasks. Many of these tasks can be automated. Although RPA cannot replace human problem-solving, it can replace many steps involved in administering claims. 

Status Inquiries and Follow-Ups: You can use RPA to automate status inquiries in various ways. You can reduce payer hold times for A/R agents, for example. 

Big Data Management: Healthcare organizations have access to troves of data. Artificial intelligence and robot process automation systems can help process this data more efficiently than humans. RPA systems can analyze data for patterns, extract crucial information from data, and perform other functions.  

Customer Service: Smart healthcare organizations are using RPA to better interact with patients. RPA can help automate calls, portals, emails, texts, and even social media. Instead of interacting with a faceless call center, patients can get the help they need more quickly with RPA systems.  

RPA is a Virtual Assistant for Staff 

Think of robotic process automation as like a virtual assistant for your staff.  

Instead of hiring a full time employee to optimize an organization, you can implement robotic process automation to do a similar job. 

RPA can act as a virtual assistant by taking care of menial, manual tasks for staff. Staff can focus on areas where their human problem solving skills are needed. Let the RPA systems take care of the rest. 

RCM is filled with rules-based settings and tasks. By implementing RPA into these tasks, you can create an effective virtual assistant for your staff, optimizing your organization at multiple levels.  

Benefits of RPA   

There are obvious benefits of RPA. You can maximize efficiency and reduce waste. There are also less obvious benefits, like improving customer service by freeing up staff to talk to patients. 

Some of the benefits of implementing robotic process automation at your organization include: 

Bots Run 24/7/365: Bots don’t need to take breaks. They can run constantly. They can handle requests at any time of the day. 

It’s Faster: Humans have good problem-solving skills, but they’re no match for robots trained to handle a specific task. RPA can handle tasks faster than humans. Even when accounting for training, breakdowns, and problem-solving, RPA can increase speeds by up to 50 times in multiple ways of revenue cycle management. 

It’s Easy to Train Robots: You can train a robot to perform some revenue cycle management tasks in a fraction of the time it would take to train a human. When dealing with simple rules-based commands, robots train much more efficiently with humans. 

Easier and More Affordable to Implement than Ever: Robotic process automation technologies get better every year. As technology improves, it’s becoming easier to implement RPA into all types of settings. It was once an option for larger providers and organization. Today, it’s an option for more organizations – including small and medium-sized healthcare organizations.  

Final Word 

RPA can handle repetitive, rule-based tasks throughout your organization.  

It can reduce errors, eliminate human inconsistencies, and free up staff when needed for human-based problem solving – all of which make it ideal for revenue cycle management.  

Your competitors are already implementing robotic process automation in their revenue cycle management 

Contact HMI, LLC to discover the best automation opportunities available for your healthcare organization today.