The healthcare industry is facing significant change. On the one hand, the need for cost optimization is more urgent than ever before. But conversely, patients expect even faster and more high-quality customer service in the new, post-pandemic world. Medical billing and coding operations play a crucial role in delivering both.
Biggest challenges for efficient medical billing in the healthcare industry:
Streamlining medical billing with Robotic Process Automation
Medical billing is the most crucial element of Revenue Cycle Management, as it can significantly impact a company’s bottom line.
RPA can be used in nearly every step of the medical billing process to help automate and standardize routine and inefficient tasks. In addition, it can be leveraged to build complex, end-to-end billing workflows. RPA works at the presentation layer, integrating with all applications and systems, including legacy systems, without creating disruption. It is scalable according to necessities and has up to 100% robotic accuracy.
What elements of the medical billing process can be automated?
Why Robotic Process Automation for Medical Billing and Coding?
Considering automating your medical billing? Schedule a free consulting session with Flobotics.
Considering automating your medical billing? Schedule a free consulting session with Flobotics.
How Can RPA Improve Your Medical Billing Processes?
What is RPA for medical billing?
RPA is a buzzword you might have heard about multiple times, but what does it literally & practically stand for? RPA stands for Robotic Process Automation, simply creating a software robot (sometimes called a bot) that can perform redundant or repetitive tasks instead of a human with minimal to no interaction with the user. After the robot is programmed using one of the RPA software platforms like UiPath or Blue Prism, it can be quickly scheduled to perform a specific list of actions at a particular time or when another event occurs.
Numerous highly sensitive client encounters occur in the healthcare business, but there are also many time-consuming, repetitive procedures and administrative duties that do not require specialist knowledge. From front-office activities to operational operations to patient engagement and bill payment, RPA can automate jobs across small & medium enterprises as well as corporations.
Gartner states, “50% of US healthcare providers will invest in RPA in the next three years.” Gartner continues, “Healthcare providers are caught in a perfect storm of shrinking payments, improving outcomes, enhancing experience, and bolstering credentials. Therefore, any technology implemented to help these providers improve delivery and streamline operations must also optimize costs.”
What are the benefits of automating your medical billing processes with RPA?
1. Reductions in processing costs
If we look into applying RPA at a hospital that, for instance, is required to boost its operational control, we can see that this can improve the patient’s experience. Automating revenue cycle tasks like claims and billing will significantly reduce the cost and time needed per claim.
2. A more efficient billing cycle
RPA can automate accounts payable and data digitization operations, increasing billing efficiency. Healthcare organizations may save considerable labor and financial resources by improving administrative processes.
3. Reductions in the cost of human labor
Healthcare practitioners save time by delegating labor-intensive activities to robots. They can use these extra time resources better, such as focusing on more fine-grained patient attendance rather than monotonous data input, allowing them to improve their clinical training.
4. Employee satisfaction improved
This is a side effect of the primary advantage. And the excellent effect causal chain doesn’t end there! In transforming healthcare into a digital business, pioneers claim that higher job satisfaction among healthcare professionals is strongly connected to better patient care and higher corporate ROI.
5. High-quality healthcare
Perhaps the most important and all-encompassing benefit of using RPA in healthcare. Automation enhances patient satisfaction by reducing time, removing the possibility of human mistakes, and allowing staff to focus on more meaningful, patient-centered tasks.
Increased operational efficiency may also broaden the scope of healthcare’s usefulness. As a result, the healthcare system might better meet the requirements of a more significant number of individuals. The prospect of sufficient treatment for an increasing number of individuals elevates RPA in healthcare beyond a straightforward option.
Payroll and time attendance, for example, may be automated to save time for personnel in an HR department. The video below shows an RPA demonstration of automating these operations.
What can be automated with RPA to improve revenue management cycles?
Medical Billing Processing
Processing medical billing operations such as payment posting, Electronic Health Records (EHR), and claims administration takes time. Robotic Process Automation streamlines and automates these operations, enhancing revenue cycle management for medical billing companies’ bottom lines.
Automated payment posting boosts productivity and eliminates the need for human insurance payment processing. Users may define as many bespoke and detailed rules as they like with this bot. In addition, organizations may educate the bot to post payments in the same manner as they would a new employee. Finally, these bots may highlight unpaid claims for more labor and appropriately submit refunds or takebacks.
Revenue cycle departments have been able to automate up to 70% of the back end of the medical billing process by integrating payment posting bots and even patient collecting bots, enhancing efficiency and lowering operational expenses.
RPA bots fill in EHR forms and replicate essential data across multiple systems, decreasing human error and allowing doctors to spend more time with their patients. You can automate sending data between one EHR and another, pull the data from your existing EHR to your CRM, etc.
Claims Administration & Submission Process
Human mistake is a common cause of first claim denials in claims administration. RPA bots automate various claims administration operations, including charge entry in medical billing, payer rule checks, and submission.
Boost Patient Communication
RPA bots create an email summarizing information about a service’s pricing or other consumer inquiries mentioned during a phone conversation. Reminders can also be triggered via bots (I.e., emails & SMSs).
Accelerate Cost Estimation
RPA bots help healthcare businesses automate benefit retrieval and cost estimation operations by linking the patient’s profile with the medical services provided and calculating the cost using the price list already available in the database.
Minimize Manual Data Entry
RPA bots aggregate data from many systems and sends it into a single patient accounting system, reducing the need for manual data entry. OCR is also used to extract data from images & PDFs efficiently and error-free to be plugged into the system automatically.
Automate Claim Denials
Bots can automatically address any simple errors and then resubmit the claim. The denial can be passed to a human for more complex errors but will provide detailed patient and denial information, significantly speeding the rework time. As RPA bots take responsibility for denial management step-by-step, staff may focus on more complicated denials.
The revenue cycle of robotic process automation allows healthcare businesses to get data from different websites and systems and integrate it directly into the Hospital Information System (HIS). In some situations, it also applies to pre-approvals.
Integrate Third-Party Applications
RPA bots function as a middleman between disparate third-party tools, allowing data to be shared and processed without human interaction.
Improve the Consumer Experience
Healthcare firms are increasing the consumer experience by utilizing RPA-driven internet chatbots to answer simple questions. Besides managing the chatbots, RPA can improve the speed and quality of responses on other sources.
What are the steps for implementing RPA to improve medical billing?
1. Perform process audit and validate requirements
Businesses should devise a strategy for selecting the best processes and then prioritizing them based on factors such as complexity and return on investment. Next, consider how automating these activities will appear, what it will accomplish, the business context in which it will be used, and how it will fit into future business operations or the broader automation journeys. During this step, RPA consultants will map your processes, review your current tool stack and compare them with your business goals and requirements.
2. Perform Feasibility Assessment including process discovery & even legal compliance check
Perform a feasibility analysis for each process to see how much can be automated. This two-step procedure involves examining the process and determining technical viability. The operation user, an SME (Subject Matter Specialist), and an RPA expert should conduct this assessment.
Determine whether procedures are not organized, standardized, optimized, documented, or implemented as anticipated based on the feasibility assessment study. Attempt to reoptimize and reorganize the process at this point.
4. Gather User Stories
A user narrative defines the aspects of an application that will be constructed from the end-user perspective. It goes through all of the user’s needs in great depth. It’s also critical to have a thorough description of each operation that will be automated. Based on this information, develop a process description document with defined RPA processes for the development team.
5. Start the Development Process by setting up the environment
The development process begins at this step, depending on the RPA workflows that have been developed. The developers generate automated scripts and program code using RPA technologies such as UiPath, Blue Prism, etc. Because each RPA tool has its capabilities, firms need to be very particular when selecting the right solution for their purposes.
6. Test RPA Process via a PoC before live deployment
Conduct extensive testing to examine performance in all conceivable circumstances and to identify faults when the procedure is run. Send any possible performance or bug concerns to the development team for resolution.
7. Reconfirm & Deploy
Once the development teams have rectified the first tests and problems, double-check the results, and deploy the entire RPA solution.
RPA in medical billing – what should you remember?
Are you in the process of implementing RPA in medical billing already? Here are five things you should keep in mind:
Select the right RPA technology vendor
Different RPA technologies (such as UiPath, Blue Prism, Power Automate, Kofax, and more) are available on the market, providing various levels of efficiency, licensing costs & features. Depending on your business requirements, some technologies may be more suitable for your needs than others. So make sure to consult that before jumping straight to RPA development!
Bet on the right developers
Following the same approach above, recruiting skilled RPA developers is crucial. The developers must have the relevant technical skills and experience to independently set up the environment and create the automation workflows with minimum downtime. In addition, this skilled personnel can finalize the project and keep the possibility of scaling up in the future when needed.
Ensure legal compliance
All created workflows & bots must be legally compliant with each local market (i.e., compliant with HIPAA’s three rules in the US)
Select the proper process.
Process Selection for automation requires the right skills to define what is needed and what tools and development/testing methodology is necessary to achieve the required business automation needs.
Follow the right KPIs
KPI Selection is based on the business needs, which differ based on the required outcome of this project. An example here would be RPA KPIs Selection, including but not limited to: increased productivity, ROI, reduction of downtime, and others.
We believe that each market/firm/entity has its own business needs, which need to be tackled from an utterly independent angle to identify the fundamental requirements, KPIs, the required environment & expected outcomes from the RPA deployment. Full-scale assessment should be done by adequately qualified & experienced personnel to avoid any loss in time and money and keep a chance for expansion and scaling up shortly.
We seek RPA consulting services or RPA development partners to automate your medical billing. We are a team of industry-experienced experts; we are 100% HIPAA compliant and have delivered various RPA development for the healthcare sector. Contact us and get a free consultation for your medical billing processes.
Let’s check together what RPA can do for you!