Robots and Artificial Intelligence (AI) have been used in the sci-fi niche and other industries for years. Although using these technologies might seem like an unsure leap, it might play a critical role in health system operations. Robotic Process Automation (RPA) encourages leaders and stakeholders to take better measures in administrative processes. It’s now time for health system leaders to take advantage of RPA as the core driver of Revenue Cycle Management.
It doesn’t mean humans should be removed from the RCM equation; rather, their success should be boosted by their understanding of the automated advantages of the RPA. It’s especially important since the hospital RCM may see more bad debt due to ACA if administrators don’t take drastic measures.
The Potential of Automation of the RCM Cycle in Medical Billing
As mentioned before, hospital RCM may see more bad debt due to ACA and one way hospitals can cushion their finance department is through automation of the healthcare RCM. Through automation, they can reduce the repetitive and demanding tasks that lead to a high potential for human error. Medical billing and claims are areas where health systems need to utilize automation since there should be no room for error.
How Does the RCM in Medical Billing Work?
The RCM cycle in medical billing begins with the patient’s intake process. It collects all patient details and their proper insurance information, ending with a receipt of payment for services received. It also has a traceable process thanks to the robust reporting system. Through this, health systems can streamline their claim submission timelines, reduce any errors, and increase revenue within a short time. It also eliminates inconsistencies by creating tasks for each team member.
RPA is meant to take RCM to a new level, and by utilizing this automation, health system administrators will add maximum value to their facilities. For this end-to-end approach, visit GeBBS Healthcare Solutions for a consultation on how to implement automation for your RCM process!