By adding a “digital workforce” to the revenue cycle, healthcare organizations are empowered to organize, streamline, and accelerate processes to improve accuracy, shorten reimbursement timeframes, and minimize inconsistencies. A key element to revenue cycle digitization is the strategic application of automation. By automating process tasks, revenue cycle managers can eliminate errors and tackle the most challenging data management situations, allowing staff to concentrate on higher-priority areas that require human involvement.
How Does Automation Provide a Digital Workforce?
Automation simplifies the “back and forth” that human workers experience when they have to access information in multiple systems, applications, or on multiple screens. It cuts through the complexity and finishes the task, the same way an employee does. The difference is in time and accuracy. In manual data entry, a person may be required to check several different screens, systems, or databases to retrieve the information needed to complete the task. By offloading this “tedious tasking” to a machine, or “digital employee,” the same information can be processed in a fraction of the time searching multiple databases, applications, web programs, as needed. Multiply this by the thousands of process tasks in the health system and it’s easy to see the savings.
Key attributes include:
- No disruptive changes in existing user interfaces, software, or systems
- Eliminates the complexity of manually checking multiple systems to update, organize, and toggle between screens, databases, etc.
- Improves the accuracy and speed of processing
- Quickly performs short or long manual data entry, complex calculations, sorting, and processing data from intertwined systems
- Exceptions are channeled into reports for precise assessment, remediation
Where is a Digital Workforce Being Used Within Hospitals and Health Systems?
Even the smallest health system has its chokepoints involving extensive, redundant manual data entry, and other financial data management processes that demand staff time and close review to confirm accuracy and completeness. The highest value areas for using automation to create a digital workforce include:
- Anywhere data is regularly saved, transferred, or downloaded
- Payer-related reimbursement, resubmission, and reporting
- Multiple, repetitive manual daily entries
- Cumbersome band-aid workarounds (technical or human) to move data
- Financial transaction reporting
How Do I Get Started?
Revenue cycle tasks are a great way to begin with a digital workforce in healthcare. Here’s the process:
- Schedule a 30-minute initial call to gather some information
- We’ll provide a roadmap for the process, timelines, goals, and costs
- Receive a dedicated project manager to guide you through the process
- Enjoy the savings! Within 30 days, you’ll “go live” and realize an immediate improvement in time and savings
Is There a Measurable ROI?
A digital workforce generates immediate and long-term benefits; positively impacting financial fitness and organizational productivity. A digital workforce directly improves business process and workflow, employee satisfaction, and long-term sustainability. Its attributes combine to achieve immediate and long-term goals such as:
- Accuracy of revenue management data and functions
- Consistent, high-level performance 24/7 regardless of staff workloads
- Speeds turnaround of claims, claim denial re-submissions; improves cash flow
- Reduces claim denials, decreases write-offs, speeds payment processing
- Improves reporting capabilities; maximizes data quality and financial monitoring
Our clients save hundreds of hours and millions of dollars with the addition of automation in the revenue cycle. By automating the tedious tasking that goes along with revenue cycle management, employees are able to concentrate on higher-priority items that require a human component. When health systems reduce claim denials and re-submissions, claims are moved through the queue faster and dollars in the door are improved, which means less stress for the entire organization.
Healthcare faces a lot of obstacles on a daily basis. The addition of intelligent automation to repetitive, routine tasks frees up humans to concentrate on more important things. Interactions with people!
About Boston Software Systems
Since 1985, Boston Software Systems has been a dedicated leader in healthcare automation. We #bridgethegaps left by other vendors and payor systems because there’s never enough time, enough staff, or fast enough turnaround in terms of revenue. By automating financial processes, transparency is increased and risk is reduced. Revenue cycle is a complex process made smarter through the use of intelligent automation, allowing people to work more efficiently and organizations to improve the bottom line. Overcome the challenges of revenue cycle management with a systematic approach grounded in 30 years of experience.
Let’s have a conversation about how a digital workforce, powered by healthcare automation, can help solve your revenue cycle challenges: 866-653-5105