Healthcare Revenue Cycle Management Automation
Revenue cycles in healthcare organizations involve a lot of manual intervention with documentation and authorization which would take days to process manually. Adopt Revenue Cycle Automation today and improve your organizational productivity!
What is Healthcare Revenue Cycle Management Automation?
The healthcare revenue cycle begins when a patient books an appointment and flows down to getting the insurance claims processed. In simple terms, Healthcare Revenue Cycle Management consists of everything financial from the first point of contact between the patient and hospital to getting the final payment for the healthcare services. The financial health of Healthcare organizations is very important for the patients to get quality and timely care. Especially, in the current global economy, spending is on the rise and it is becoming difficult to collect on balances. And Robotic Process Automation in RCM can help.
Droidal’s vision is to transform healthcare organizations by eliminating inefficiencies and focusing their efforts on providing care. Revenue Cycle Automation has the potential to transform your revenue cycle, by improving accuracy, cost savings, and processing speed. We specialize in providing pre-built bots solutions in a pay-per-bot per-month subscription model that automates your revenue cycle.
Our experts in Healthcare RCM can also build custom bots for any workflow in the revenue cycle, thereby helping you streamline your finances and grow effectively. Talk with Droidal’s RPA experts to optimize every stage of your revenue cycle management.
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Manual denial management is a time-consuming process. Implementing revenue cycle automation helps eliminate the denials wholly by improving the accuracy of claim submissions. However, in case of denials, Droidal’s denial management automation does all the manual work including, but not limited to, scouring through EOBs and reporting it to the relevant staff for proper resubmission. This way hundreds of hours of manpower are saved to be spent on patient care.
Billing Services Automation
Our billing automation relieves the manpower involved with the billing team and helps healthcare providers focus more on other critical business activities. From getting the billing data from EHR to sending it to the billing group and updating the billing back in EHR, our revenue cycle automation is end-to-end. This removes inaccuracy in billing and ensures a proper cash flow through timely billing.
Untimely submission of NOE/NOTR might have counter effects on the claims, revenues, and reimbursements. Moreover, untimely submission, i.e after the 5-day period, would result in a resubmission of paperwork which increases the burden on the staff. NOE/NOTR automation ensures that it is created and submitted within the stipulated time period. Also, this would also result in reduced errors while filing.
Claims Submission Automation
The most important thing about claims submission is the accuracy of submissions. Our claims submission automation solution helps solve the same. The automation runs the claims against various modules in the system based on business rules and ensures there is no inaccuracy. Furthermore, it then sends the claims to the clearinghouse to ensure timely reimbursement and thereby maintain a good cash flow.
Patient Financial Clearance
In order to maintain their financial health, healthcare organizations should ensure that they decrease uncompensated care. Our patient financial clearance solutions help in qualifying patients with proper insurance plans. It also helps healthcare organizations in counseling people without proper healthcare plans about their financial options. From eligibility to enrollment, our patient financial clearance module will help in making healthcare available for everyone while ensuring hassle-free reimbursements.
Patient Data Automation
Revenue Cycle Automation in Healthcare can help in digitizing and thereby the effective management of patient data from any enterprise or legacy systems. This helps in pre-authorization and insurance verification of every patient leading to lesser denials and enhanced cash flow. This ensures compliance to all regulatory requirements such as HIPAA while ensuring data integrity and security.
Why Should You Opt for Robotic Process Automation in RCM?
Robotic Process Automation has been revolutionizing the way businesses are done for some time now. But, the world is yet to utilize its full potential. Here are some reasons why your organization should consider RPA for Revenue Cycle Automation.
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Reduce Uncompensated Care and Denials. Get Accurate With Robotic Process Automation for Healthcare RCM from Droidal!
Who Benefits from Robotic Process Automation (RPA) in Healthcare RCM?
But, why should you opt for Revenue Cycle Automation in Healthcare? How and who benefits in your organization? In simple terms, your business as an entity would become more organized and productive with an efficient revenue cycle. The following departments benefit particularly from RPA in Healthcare RCM.
One of the major problems with the accounting department would be human errors and inaccuracy, resulting in a major loss. Revenue Cycle Automation in Healthcare streamlines accounts payable and receivable transactions, billing, and reimbursement. This way healthcare providers would have a steady stream of revenue.
RPA in Healthcare RCM can automate claims processing completely for quicker and more accurate performance. From pre-authorization of the patients for claims, and claim applications to follow-ups everything can be done with 100% accuracy. Also, denial management becomes easier with automation.
Healthcare Organizations run on a lot of data and it is important that data integrity is maintained in all processes. RPA can help in automating patient enrollments, patient appointment management, updating patient records, etc. These data can be extracted and looked up with 100% based on different access levels
Back office tasks can be the most repetitive and tedious processes, but they are the pillars of Revenue Cycle Management. Healthcare Revenue Cycle Automation can automate these tasks with custom bots. Some tasks that can be automated are health plan enrollment, determining eligibility, etc.