Top 5 Benefits of Robotic Process Automation in Healthcare!
Robotic Process Automation has become the latest buzzword in the business world now. RPA techniques help automate manual and repetitive tasks thus allowing businesses to enhance their productivity. Businesses these days are leveraging the incredible benefits of RPA to boost their profits.
The global Robotic Process Automation market size was valued at USD 1.1 billion in 2019 and is anticipated to witness a CAGR of 33.6% from 2020 to 2027. Increase in the demand of automation techniques through the use of artificial intelligence (AI) and software robots is anticipated to be the key growth driver.
RPA techniques can be seen leveraged by almost all major industry verticals. To achieve RPA benefits such as reduced time, increased efficiency, faster speed and improved productivity, businesses worldwide are using RPA techniques to strategize their business moves.
RPA technology is the fastest growing market in enterprise software, says Gartner. The beauty of RPA is that it enables customers to bring a level of automation to legacy processes without replacing the legacy systems.This ability to integrate legacy systems is the key driver for RPA projects.
Uses of RPA in Healthcare!
RPA tools can provide a tremendous opportunity for health care and life sciences organizations to alleviate some of the administrative burdens that plague health care delivery while also assisting clinicians in making decisions about patient care, says David Yarin, Principal, Deloitte & Touche LLP.
RPA has emerged as an important tool to automate business processes. The advanced technology is being embraced by almost all businesses prevailing in the market space. It has now plunged into the healthcare industry too. By automating routine tasks, RPA helps in rendering improved healthcare facilities.
Software bots represent a powerful digital workforce that can work tirelessly in the background supporting doctors and administrators, says Henry Xie, is the CEO and founder at Simple Fractal.
Here, in this blog, I have discussed the major benefits of Robotic Process Automation in Healthcare. Listed below are top 5 uses of RPA in healthcare that have completely revolutionized the healthcare industry. Let’s read these in detail.
Scheduling Patient Appointments!
Scheduling patient appointments is one of the major benefits of RPA in healthcare. Patients have to schedule online appointments to meet the doctor. While scheduling online appointments, healthcare providers need to make records of personal information, diagnosis, and insurance details in the registration process.
Keeping a track record of a large number of patients is a tedious task. Moreover, the patient appointments need to be aligned with the schedule and availability of the doctors in hospitals.
By implementing advanced techniques of Robotic Process Automation in Healthcare, organizations can resolve all their problems related to scheduling patient appointments. RPA bots can scan patient data and then schedule appointments according to diagnosis, location, doctor availability, and other criteria. RPA bots can also let patients know about the unavailability of doctors for their appointment.
According to Ernst & Young, automation can reduce turnaround times for insurance claims by as much as 75 to 85 percent, and it can eliminate 50 to 70 percent of repetitive tasks entirely.
Streamlining Claims Management!
According to statistics, almost 91.2% or 294.6 million Americans have health insurance coverage. Managing insurance claims of so many people is not an easy task to handle. Moreover, managing insurance claims involves other processes such as data input, processing, evaluation, and dealing with appeals. Handling the procedure manually or with a software would be challenging.
But, by leveraging the benefits of RPA in healthcare, the problem can easily be solved. RPA can streamline the process of managing insurance claims. By scanning data, RPA bots can speed up data processing and avoid errors. Thus,by availing these incredible benefits of Benefits of Robotic Process Automation in Healthcare, RPA can reduce delays and manage complex insurance claims.
Given the fact that 30–40 percent of healthcare claims result in edits or exceptions that could lead to denials, RPA can help identify issues, facilitate claims review, and quantify and categorize past denials, says KPMG.
Recording Audit Procedures!
One of the best uses of RPA in healthcare is in recording the auditing procedures. Auditing procedures involve multiple tasks. A report is generated to record these audit processes and their results. These reports are then sent to different departments for verification and approval.
Managing these audits can be a tedious task and errors may arise while recording the audits. By leveraging the benefits of RPA in healthcare, audit procedures can be easily optimized using RPA techniques. By recording data and generating reports during audits, RPA bots can help streamline the recording of audit procedures.
Later, these reports can automatically be shared with concerned parties for evaluation and approval. Thus, with the use of RPA software, healthcare institutions can ensure accountability for different auditing procedures.
According to Deloitte, hospitals should consider strategies to reduce costs and improve revenue. Healthcare organizations can use robotic process automation (RPA) to streamline administrative work and tedious back-office tasks.
Managing Patient’s information!
Healthcare organizations have to deal with humongous data on a daily basis. With new patients coming in each day, this volume of data keeps on increasing. Managing such a huge database and keeping track of the patients information like that of their diagnosis, and treatment cycles is an easy task to handle.
To resolve the issue, healthcare providers can avail the benefits of Robotic Process Automation in Healthcare. RPA software can manage and monitor large volumes of data with ease.
Advanced RPA techniques can be used to generate analytics from the data. This analytics help doctors in gaining useful insights of their patients well using which they can attend to their patients well and recommend well-tailored treatments that can cure them soon. Clearly, this is one of the greatest uses of RPA in healthcare.
Speeding up Account Settlements!
Healthcare institutions have to deal with the bill processing during the diagnosis and treatment of each patient. They have to monitor, calculate, and evaluate bills of each patient. Handling bills and managing data of so many patients manually can be time-consuming and prone to errors too.
Moreover, maintaining records of multiple tests, prescriptions, doctor fees and room charges is a complex task to manage for the hospital staff. But, the problem can be solved. This is one of the most important uses of RPA in healthcare. RPA bots can accurately calculate the bill amount including the costs for tests, medicines, wardroom, food, and doctor fees.
Moreover, RPA software can inform the patients about their bill amount and receive payments. With the benefits of RPA in healthcare, healthcare providers can reduce delays in payment and inaccuracies associated with the calculation of bill amount thus speeding up the account settlement process.
These are some of the major benefits of Robotic Process Automation in Healthcare. The advent of RPA techniques have helped healthcare providers to enhance their productivity and save time.
Healthcare providers across the globe are using RPA techniques for better execution and management of multiple procedures such as scheduling patients appointments, streamlining claims management, recording audit procedures, managing patients required and speeding account settlement.