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With such broad use cases for RPA, it is easy to see why significant ROI can be achieved with the deployment of bots.
We have seen significant ROI on labor cost savings by deploying bots to automate and work certain claim denials. A rule of thumb is to deploy bots when the full payback period is less than 12 months.
With such financial benefits and so many places to start, it is easy to get excited and just want to build bots right now. However, there are risks that need to be considered before jumping headlong into RPA deployment.
absolute Automations is here to be your partner as you navigate the journey of using RPA, AI, and other technology to transform your operations and process efficiency.
Some specific ways to apply RPA within revenue cycle processes include the following:
Working Claim Denials
Specific denials can be automatically appealed directly with the payor by supplying additional information or other required actions to be completed by the trained robot.
1
Preventing Claim Denials
Root cause analysis identifies areas where robotic process automation can be deployed to prevent denial from happening.
2
Managing Authorizations
Pre-Auth requests can be submitted to electronic payor portals and even through fax submission electronically by an RPA bot.
3
Eligibility Research
RPA bots can scrub eligibility response data for more specific details and prevent denials.
4
Working Billing Edits
RPA bots can lookup data from multiple systems and enter the data necessary to clear pre-billing edits in scrubbers. RPA bots can become your fastest and most efficient billers.
5
Payment Posting
RPA bots can automate the edge cases that are manually posted by humans. Bots can also convert remittance advice files into post-able 835 files.