3 Benefits of Utilizing Robotic Process Automation (RPA) for Revenue Cycle Management

The healthcare industry is quickly evolving. According to Deloitte’s 2019 US and Global Health Care Industry Outlook, technology is the key to a collaborative effort between health systems and health plans. Automating Revenue Cycle Management (RCM), with Robotic Process Automation (RPA) as a key component, mitigates processing and reimbursement pain points.

RCM with RPA accomplishes this by streamlining your claims operations into an efficient, automated, quantifiable solution. The comprehensive digital transformation of your RCM process will yield dramatic efficiency gains and a rapid return on investment.

Revenue Cycle Management and Claims Processing Evolution

1. Increased Scalability

Because RPA significantly reduces processing times, and unlike humans, it works 24/7, it empowers organizations to process and manage increased claim volumes with less staff.

RPA technology eliminates costly repetitive claims processing tasks and works quickly and error-free. This allows you to process a higher volume of claims faster and more accurately resulting in greater efficiency and a much lower cost per claim.

2. RPA Eliminates Errors

Manual data entry leads to mistakes – it’s estimated that up to 5% of medical claims have problems caused by human error. These mistakes cost you money and increase the amount of time it takes to process each claim.

Revenue Cycle Management classification and capture automation eliminates errors caused by manual data entry processes. Errors require many times the processing effort of comparable correctly entered claims, due to the multiple touches, duplication of data entry, resubmittal and reprocessing times.

3. Bridging the Information Gap

Integrations allow nurses, physicians, medical coders, and billers to access information from other systems easier. Your staff may currently utilize a variety of different systems for claims, regulations, patient information as well as other processes. UiPath RPA integrates disparate systems that lack readily available integration points, whether they are internal or external to your organization.

As an example, A UiPath software robot can investigate the status of a claim on an insurance company’s website. It then copies the claim status data, including notes and comments, and updates the healthcare company’s revenue cycle management (RCM) system. This is all done without error and without human intervention.

Automated RCM and Claims Processing Is the Future of Healthcare

It’s clear that process automation with RPA is the future of every industry, including healthcare. Outdated manual claim operations are being replaced with leaner, faster, and more efficient solutions.

Unifying your practice’s systems into an integrated platform that easily communicates with payers unlocks automated claims processing and more.