In 2017, KPMG predicted the size of the global IT robotic market to reach $5 billion in 2020, with the potential savings of 25-50 percent in cost – one of the fastest-growing segments of the software industry. Since then we have observed how robotic processing automation (RPA) changes the world little by little, freeing up both time and human labor to be invested in more cognitive activities. Yet RPA adoption in the healthcare industry is still slow mostly due to challenges in implementation, process complexity, and the required technological infrastructure.
The healthcare sector is also experiencing one of the most disruptive periods to date as providers need to continuously improve patient outcomes, increase margins and improve patient experiences. This leads to rapid consolidation in the industry, resulting in a need for large-scale data integration, process automation, and advanced analytics.
If you’re a healthcare facility considering RPA but still hesitant on the implementation process, here is a little overview of where RPA fits into your ecosystem and how it can cure your process inefficiencies.
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Faster, more quality data
RPA takes over repeatable, routine tasks at a faster pace, effectively giving back time for your employees to concentrate on driving the innovation process. RPA software can help organizations extract data faster, optimize that data for digital processing, and manipulate it to generate meaningful analytics. Coupled with artificial intelligence (AI), RPA can open the door to trustworthy, actionable insights that can make an impact on your operations.
For the healthcare industry, this means significant improvements to the healthcare cycle. With fast and accurate data, health facilities have the chance to quantify health and improve performance. From diagnostic to a treatment plan, data generated and processed by RPA can assist clinical staff in deciding the next best course of actions and proactive treatments if necessary
In addition to returning coveted time to your clinical staff, RPA software can help facilities enhance clinical workflow. The traditional process of manually inputting information into the systems for scheduling visits, doctors’ discussions and follow-ups is time-consuming and frustrating for both patients and doctors.
RPA can replace human labor in the information input process with automated scanning and sorting. A simple use case of this process is in scheduling appointments. When a patient fills out a request form online, RPA software can scan the information, sort it into a report and direct the request to the correct work queue. Say goodbye to the long wait to confirm an appointment and still risk a delay due to a sorting error. Scheduling appointment with the help of RPA is easy, timely and cost-effective.
Billing and claim processing is a pain area for both payors and care providers due to the repetitive tasks involved and their proneness to human error.
Fortunately, the technology is finally here to replace all those redundant tasks with automation without the hefty price tag that tends to come along. RPA is the efficiency game-changer that everyone has looked for to bring on the digital transformation in healthcare. RPA bots can help ensure compliance with regulations during claim processing. With about 40% of claims denied every year due to non-compliance, the healthcare industry is looking at millions of dollars in account receivables that may have gone uncollected.
For insurance institutions, RPA bots can integrate legacy systems for end-to-end automated claim processing, reducing 50% of processing time by leveraging data captured for underwriting and claim operations. That means putting 50% of processing time back to your professionals’ schedule to attend to customers, agents and partners. Without the need for human labor, RPA enhances the transparency and satisfaction between customers and insurers.
All of these benefits can be achieved with non-evasive, fully integrated RPA bots. Whatever your legacy systems are, there is always room for extra efficiency and cost-effectiveness with the adoption of automated processing that can help improve your bottom lines.
Talk to an RPA specialist today to learn how you can start building an automation roadmap for your organization to achieve tangible ROI.