How RPA Helpful in Healthcare, Insurance and Transportation

1. How RPA Helpful in Healthcare, Insurance and Transportation The Role of RPA in Healthcare Industry The advent of the RPA has been a turning point for the healthcare industry, as it has not only automated various complicated tasks for medical professionals but has also helped hospitals to improve efficiency and offer better medical care to their patients. The advent of the RPA has been a turning point for the healthcare industry, as it has not only automated various complicated tasks for medical professionals but has also helped hospitals to improve efficiency and offer better medical care to their patients. RPA (Robotic Process Automation) is handy and quick to implement a solution that helped the healthcare industry to improvise their processes, starting from patient registration to claim settlement. Error-prone and time consuming human operations, but having defined workflows can be easily mimicked using RPA. Benefits of RPA in Healthcare Below are some of the processes that can benefit from the adoption of RPA in healthcare industry:

2. Admission Process This is one of the most common processes in hospitals that every patient needs to go through before getting admission and because it is a lengthy process, it takes too much time. Automating such processes have helped patients save time and hospitals improve the patient’s experience. Transfers to other hospitals Patients who need to be transferred to other hospitals may end up experiencing delays due to the lack of a reliable workflow and collaboration system between hospitals. With the help of RPA, the inter-hospital referrals and transfer process have been streamlined. Order of drugs and Hospitality stationery Hospitals should have an adequate amount of drugs in their stock, but unfortunately, this is not the case. Many times, it has observed that hospitals are running short of several medicines due to improper stock management. This issue has easily been resolved with the implementation of RPA in the supply, storage and inventory of medication and ordering automatically before medicines get out-of-stock. Improving Account Settlements Hospitals need to monitor, calculate and evaluate bills during the diagnosis and treatment of each patient and manually processing of such data can be time- consuming and still there is no surety of 100 percent accuracy. Apart from this, maintaining a record of several tests, prescriptions, doctor fees, room/bed charges and other fees is very essential for the accurate calculation of every patient’s bill. Manually processing of this task can become very complicated for the hospital staff and there RPA bots can be brought in action. They will not only accurately calculate the bill amount considering the cost of tests, medicines, food, etc. but the introduction of RPA in the healthcare industry can also reduce the

3. chances of human error. Hence, leveraging RPA in healthcare services can effortlessly speed up account settlements. Smoothening Claims Management With the rapidly increasing demand for health insurance, managing claims have become a complicated process and it involves processes like data input, processing, evaluation, and dealing with appeals. The entire procedure, if handled manually or using standard software, can prove to be inefficient and error-prone. Outdated insurance claims procedures can significantly impact the cash flow of the hospitals. Moreover, around 30-40% of health insurance claims can be denied due to non-compliance of regulations. Hence, ensuring regulatory compliance for insurance claims can be another complicated task. Leveraging RPA in healthcare services can streamline the process of managing insurance claims. These bots can also identify compliance-related exceptions and avoid non-compliance of regulations. Therefore, the adoption of RPA in healthcare services can improve the efficiency of complex insurance claims management procedures. Our RPA services not only bring these benefits in the healthcare industry but also come up with many more that ultimately help hospitals improve their brand value. Along with the healthcare industry, we also serve logistics and transportation, insurance, banking, data management, accounts and financial management, and many more industries to streamline their operations and improve overall efficiency. Source: https://blog.vertexplus.com/rpa-in-healthcare-industry/

4. How RPA Helps Insurance Industry? Robotic Process Automation (RPA) frees professionals from repetitive and redundant tasks, so you can save money while your team can focus on more strategic initiatives. Every day, insurance industry deals with overflowing amounts of tedious clerical jobs, which result in reduced customer satisfaction. Insurance companies are flooded with routine, repetitive and operational tasks such as underwriting, claims processing, policy servicing, etc. This has not only contributed in rising costs but has also stalled growth of the insurance industry. RPA is the most appropriate option for the insurance industry to become more efficient and customer-focused. This is one of the emerging technologies that can empower insurers in building a high-growth responsive business while optimizing cost. Robotic Process Automation or software bots emulates administrative and transactional tasks that are mostly repetitive, rule-based and doesn’t require decision making. RPA can automate the end-to-end processes by collaborating new front end technologies with back-office environments and this makes it a natural fit for the insurance industry. The RPA can successfully be implemented in the following areas of the insurance industry:

5. Insurance is a highly regulated industry, therefore, it is not easy to move quickly, but the fact is consumers are moving at an exceptional pace. So, the companies that will stand out that are the ones going to match the pace of consumers. RPA is that technology through which insurance companies can stay competitive, as it facilitates easy collection of policyholder’s details, collecting information from previous year’s claims documents with other relevant data. Thus, implementation of RPA in these areas can help in reducing operational costs and enhancing productivity levels along with generating growth opportunities and increasing business efficiency. Foundations of a Successful RPA Plan Insurance industry tackles a lot of paper-intensive and repetitive jobs that make this industry an ideal prospect for automation. However, implementing RPA in the insurance industry is not an easy task and its impact is multi- dimensional. Therefore, it requires effective planning and to do this, we have described some essential steps: Identify the right processes: It is necessary to execute a top-down diagnosis of end-to-end processes to identify the opportunities that are best suited for RPA implementation. While

6. executing this step, check whether the selected processes require any sort of modification or alteration before getting automated to gain the optimum positive outcomes. Define vision and strategy: It is very necessary to establish a clear strategy and a roadmap for successful RPA implementation. Points to consider while defining the strategy are: Describe the flow of process step-wise and according to the rules Determine tools that enable agile delivery Develop an automation plan by mapping each step of the process Establish governance and authority: Ensure that the leading authority of the automation program is knowledgeable enough and meeting all regulatory requirements. This streamlines the workflow of automation and ensures positive outcomes. Train your employees: Before implementing new technology at the workplace, it is required to conduct training and development sessions, especially for those employees who will be regularly in contact with the new technology. This way, RPA program is more likely to be seen in a positive light by the employees and the motive of bringing a new technology will be fulfilled. Implementing RPA at the workplace is not an easy job, but if done well, it will transform your business like the way it has transformed the functionalities of insurance companies. People working in this industry now have more time to think out of the box rather doing repetitive paper-intensive jobs. RPA has not only automated insurance industry, but there are many that are running successfully. So, examine your company’s operations and find out how RPA can help your business grow and evolve according to the market environment. Source: https://blog.vertexplus.com/how-rpa-helps-insurance-industry/

7. Transformation of Logistics & Transportation Through RPA According to the Institute for Robotic Process Automation and AI, RPA implementation can result in prompt cost savings of up to 50%. Robotic Process Automation is a rule-based platform that is designed to execute pre-determined tasks automatically. Because it is a software-based platform, it can perform physical, repeatable, and high-volume data tasks without any human involvement. This technology brings many changes to enterprise in terms of efficiency, speed and accuracy. Here are some of the specific advantages of RPA: High-level Accuracy: The rule-based software robots hold immense potential to perform the given tasks with an almost zero probability of error. This means there will be no need to audit the work, as the assigned work will be executed with a 100% accuracy. Improved Process Cycle Time: The fact cannot be denied that with the help of RPA, any task can be performed much quicker than humans. In the same manner, RPA executes the mundane and manual tasks faster and helping organizations to reduce process cycle time and increase efficiency. The Potential of RPA in Logistics and Transportation Business processes in the logistics and transportation industry are highly dependent on back-office operations such as scheduling a delivery, updating

8. customer details on web portals with current load status and ETA, etc. Through RPA, core business activities can be made less monotonous and repetitive. This will also lead to improve operational efficiency and economies of scale. Apart from this, Robotic Process Automation can work 24/7 with the same level of efficiency. With regards to these advantages, operations of logistics and transportation department can easily be streamlined along with improving efficiency. RPA improve operations of the transportation and logistics industry by: Eliminating manual data entry from internal systems to B2B portals Smoothening collection of structured and unstructured data from different formats and processing Automating scheduling appointments that allow customer service representatives to focus on quality Deploying software bots to read emails Automating onboarding of accounts/customers Below are some of the back-office activities in the transportation and logistics industry that are suitable for automation: Supply Chain Operations With the rapidly increasing competition in the market, it is very crucial for the enterprises to adopt the latest tools and technologies to gain a competitive edge over others and increasing overall efficiency. Enterprises are facing too much pressure to offer better service to gain new customers and retain the existing ones as well. But, there are many companies who still rely on manual processes for scheduling payments, monitoring changes, etc. On the other hand, according to a survey of manufacturing and logistics executives, only 24% have implemented automated processes to improve the visibility of order and shipment status. VertexPlus’ RPA for transportation and logistics enables you to eliminate costly manual functions by automatically acquiring, integrating and delivering data across your supply chain operations. Now, you can easily communicate with the shippers, logistics partners, carriers and other trading partners effectively.

9. RPA implementation in the business also brings benefits like increased staff productivity, service levels and capacity to effectively perform repetitive and manual tasks and free up your employees to focus on customers and for more valuable work. Shipment Scheduling and Tracking From initial pick-up request to checking and reporting shipment status between internal systems, implementing automation can be an effective solution for automating all these manual tasks. With robots, you can automate many tasks such as extract shipment details from incoming emails, log jobs in your scheduling systems and many more. With the help of automation, there are many other tasks that can be automated and let the employees focus on more cognitive tasks. From eliminating manual processes for capturing loads and rate lookups to speed invoicing by integrating systems with the customer portals, all these could be automated with the RPA to enhance customer responsiveness and improve logistics planning. Therefore, implementing RPA in the logistics and transportation industry is a wise decision to boost overall efficiency and increase revenue. Source: https://blog.vertexplus.com/rpa-in-logistics-and-transportation/