RPA in Medical Billing
The healthcare system is an area that will benefit significantly from RPA. One of the significant areas in healthcare that RPA can improve is revenue cycle management (medical billing), which involves getting paid for medical care given. A health system's revenue is predominantly obtained through medical billing, and it is a vital source of revenue for healthcare entities.
RPA in medical billing involves automating billing processes like portions of the electronic health
records, revenue analysis, payment posting, and denial management. Therefore, RPA increases
efficiency and productivity in medical billing while decreasing errors and denials.
Advantage of RPA in Medical Billing
- Low data error - The process of entering data can be repetitive and tiring, leading to many data entry errors. RPA reduces the errors, as it is more efficient and doesn't get tired.
- Faster turnaround - Since robots can work without tiring, the turnaround is quick.
- Increased productivity and efficiency
- Low operational costs
- Improved revenue cycle
- Better analysis of data – Robots can easily spot trends in large data volumes.
RPA strategies are often implemented by healthcare entities dependent on whether the RPA is supplied as software or as a service. There are more advantages to using RPA provided as a service instead of software. Some benefits are no additional hardware or software costs. No, IT staff is required for maintaining and updating the bots, etc.
The effect of RPA in Medical Billing is not only to be cost-effective but also to improve quality and efficiency. These bots help the human teams to channel their energy on higher-order functions such as Coding Audits and fighting the Denial with Insurance companies, instead of wasting time on simple, boring, and repetitive tasks.
How Plutus Health Inc. leverages RPA in Medical Billing
Plutus Health has an RPA known as Zeus; they deploy on behalf of their clients for their revenue cycle management processes.
They developed Zeus, a family of 60 bots (robots), using RPA and machine learning technologies. Zeus reduces human error, minimizes denials, keeps medical billing data continually updated, and provides data analytics that helps improve key performance indicators (KPIs).
You can connect with Plutus Health today to outsource our RPA in medical billing services and know all about Zeus.