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RPA implementation guide for healthcare RCM

Healthcare decision-makers guide for implementing Robotic process automation (RPA) in healthcare revenue management (RCM).

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RPA implementation guide for healthcare RCM

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  1. RPA implementation guidefor healthcareRCM www.billingparadise.com

  2. Introduction Healthcaredecision-makingleaders likeCEOs,CTOs,CFOs,andRCM directorsarelikelytohaveanidea aboutwhatroboticprocess automationis,themainconcern theyareworriedaboutare the questionstheyhaveabout successfulimplementationofRPAinrevenuecyclemanagement. WhyimplementRPA? Roboticprocessautomationistransformingthewayhealthcareorganizations performtheirrevenuecyclemanagement(RCM)toautomatesimplerepetitive tasks,tasksthatneedhigheraccuracyratesbyreferringtomultiplesources, guidelines,andregulationdocumentswhileimprovingproduction,quality,and theendresultsavingcost.Herearefourmainimplementationreasonswhy RPAcanbesuccessfulforyour organization: Therearecertainchallengesevery hospitalorhealthsystemfaces duringtheimplementationofRPA, thesechallengescanbeaddressed beforeimplementationfor successfulutilizationofRPAbots. www.billingparadise.com

  3. Increasedefficiencyandproductivity–RPAbotsdonottakebreaksorvacations.Itperformsx5times fasterthanyourhumanstaffFTE. Reducedhumanerrors–RPAbotssignificantlyreducehumanerrors.Reduced errorsmeanreducedre-worktasksandtime-saving. ScalabilityandFlexibility–RPAworkforcearescalablefromlargetosmall dependinguponoperationalneeds.RPAbotscanbeprogrammedandadded toyouroperationsanytimeoftheyearastheyneednotgothroughhuman resourceshiring formalities. Costreduction–Increasedoverallcostsavingtotalcostsavingsby50-75%. RPAbotsonlycost20%ofhumanstaff(full-timeemployee) expenses. Questionsthatguideyoutoanappropriate RPA implementationinRCM Thereisnoconceptofaone-size-fits-allmethodologyforRPA.Everyhospitalandhealthsystemoughtto thinkabouttheiruniquerequirements,existingapplications,data,workflows,andRCMprocessesand embracechange. www.billingparadise.com

  4. AsyouthinkaboutRPAImplementation,posethesequestionstorecognizepotentialopendoorsthatareidealforincorporating roboticprocessautomationtechnology: CouldtheRPAprocessatanypointbebrokenintoasetofif/thendecisionsandRCMoperatingrules? Doesthecyclerequirehumanmediation,asdecisivereasoning,to finish? IstheinformationpresentaccurateandavailabletoRPAbots? HowmuchmanualworkforcetimeisexpectedintheongoingRCMprocessthatcouldbedispensedwithorredeployed throughRPA? Whatistheeffectfromthepatients’pointofview?Mightitatanypointincreaseordeclinepatientservicefulfillment? CouldtheRPAprocessatanypointincorporateaninherentmonitoringframeworktoassistwithrelievingriskinthe eventthataprocessfailsorisdelayed?Whatistheriskfactortotheentirehospitalorhealthsystemifthestep fails? IntheeventthatRPAisaconvenientchoice,doesitgiveatotalsolutionforautomationorare complementary applicationsexpectedasacomponentoftheroboticprocessautomation? HowcouldtheRPAbotsbescaledandimplementedacrosstheentirehospitalorhealthsystemtoachievegreater value? www.billingparadise.com

  5. Itisawell-knownfactthatRPAperformswell,reducescosts,andincreasesproductivityandquality.But,thereare certainareasyouwouldliketoidentifyforabetterimplementationofroboticprocessautomationinRCM.Herearethe importantguidingpointsessentialfortheimplementationofRPAin RCM: UnderstandingthecurrentworkflowofRCM ImplementationofRPAneedsathoroughanalysisofyourcurrentRCMprocessesandworkflowsinorderto.Identify theproblemareaswhereimplementationofRPAwillbemoreeffective. Strategiesforfeasibility UsageofbothRPAandRCMsubjectmatterexperts.Theywillprovidevaluableinsightsinregardstothetechnicaland practicalaspectsofimplementingRPAinRCM.Thisallowsyoutoidentifythefeasibleandmostcost-effectivewaywhere youcanachieveROIworthutilizingtheRPAtechnology. GuidingpointsforRPAimplementationinRCM www.billingparadise.com

  6. AdjustmentofRCMprocesses ThenextpartisadjustingyourcurrentRCMprocesses.Yourorganizationmayhavestaffworkingonprocessesthat need noadditional resourcesafter theimplementation ofRPA.Adjusting yourresources accordingto thechangedRCM processesenableseffectivehumanandrobotresourceutilization. Obtaining clienteleuse cases RPAprogrammerswillhaveusecasesfromtheirpreviousclientswhicharetruesuccessstoriesthatyoucanrelyupon whenchoosingtherightRPAvendor.ThisinformationisveryvaluablefordeterminingthecapabilitiesofyourRPA technologyproviders. www.billingparadise.com

  7. Healthcareorganizationslikehospitalsandhealthsystemswithmedianworkingmarginsof1.6% shouldreallyoverseebothincomeandexpenditurefactors. ThetwogreatestexpensesforhospitalsandhealthsystemsareRCMandhumanresources, estimatedroughlyat60%oftheentireoperatingexpenditure. Indeed,evenwiththetopofthelinehealthcareRCMtoolsandEMRs,mosthospitalsandhealth systemsstilldeployhumanstafftoworkacrosslow-valueimpacttasksandprocesses(tedious, repetitive,labor-intensivetaskslikemanualentry processes) Themajorissueisthatitpromptshigherstaffingcosts,fewerefficiencies,decreasedproductivity andreducedresource capability. SolutionstoelevatemanuallaborchallengesusingRPA Inordertotriumphoverthestresstoimprove,healthcareorganizationsshouldchangetheirRCM workflowbyincorporatinganautomatedworkforceandembracingRPA. RPA implementation challengesforhealthcareorganizationsin RCM www.billingparadise.com

  8. Morehospitalsandhealthcareorganizationsaredecidingtoimplementroboticprocessautomationand realizedtheefficiencyofusingadigitizedworkforce,utilizingRPAanswersforchangeinfront,center, andback-officeoperations,empoweringtheirhumanworkforcetoconcentrateonmorevalue-addedand crucialtaskswhichonlyahumancanperform.WhiletheessentialandquickbenefitofutilizingRPAis costreduction,italsohasafewdifferentadvantagesthatincludebutisnotrestrictedto: 24/7365daysroundtheclockoperations Higheraccuracyrates Increasedquality Lesshumanintervention Quickerworkdeliveryandturnaroundtime Scalability Flexibility Reducedcompliancerisks Alloshumanworkforcetoconcentrateonmuchmorecomplex tasks. www.billingparadise.com

  9. UnderstandingyourRCMprocess,revenue,current platforms(EHRs)usage,andanumberofhumanstaffall playanimportantroleinimplementingRPAinrevenuecycle management. Thesearethefactorsthatdeterminetheuseful implementationofRPA.Unlikeothertechnology,RPAis tailoredtosuityourhospitalorhealthsystem’scurrentRCM operations,soreasoningquestionsandathoroughanalysis ofyourRCMprocessesareamustandalsoagreatguideto startingsettingupRPAforthe best. Conclusion Learnmoreandraisemuchmorecomplexquestionstoour RPAexperts!Wearereadyforthechallenge! www.billingparadise.com

  10. CONTACTUS PHONENUMBER +1888-571-9069 EMAILADDRESS inquiries@billingparadise.com WEBSITE www.billingparadise.com Quality Service

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