Revenue Cycle Management (RCM) Archives - Page 5 of 7

How Healthcare Automation Builds Post-Pandemic Business Continuity

The COVID-19 pandemic placed additional pressure on CIOs to accelerate their digital transformation efforts. The unparalleled demand for services, facilities, staffing, and public health tracking created chaos in healthcare. Critical areas of focus like telemedicine, lab testing, and revenue cycle management required efficient processes be implemented at warp speed. There were no longer continued discussions
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Reducing The Barriers To Interoperability

Interoperability is certainly not a new topic. It is a predominant theme at #HIMSS21, and has been a term of engagement in healthcare for over 20 years. To better understand the impact of data interoperability, Google Cloud recently commissioned The Harris Poll to survey more than 300 physicians across the U.S. Nearly all (95%) of
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Executive Order Tackles Healthcare Price, Transparency, and Competition

Lack of competition is a key reason for President Biden’s executive order, “Promoting Competition in the American Economy.” The proposed order tackles four key areas where a lack of competition in healthcare increases prices and reduces access to quality care: prescription drug costs, hospital consolidation, health insurance choice, and hearing aid access. Among other things,
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Streamlining the Process of Prior Authorizations in Healthcare

From the moment data is entered electronically into a patient chart, the prior authorization process begins. For care to be obtained, prior authorizations have to be identified and submitted with the right codes, approvals, and follow-up. The majority of health plan denials are attributable to prior authorizations, eligibility, and medical necessity rules. Currently, hospitals and
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Addressing Burnout by Optimizing Healthcare Processes

The Washington Post-Kaiser Family Foundation polled frontline workers in April 2021 and revealed, ”3 out of 10 healthcare workers are thinking of changing professions.” While this may sound surprising, it makes total sense. Nearly half (49%) of healthcare workers reported they had suffered burnout in 2020, while 43% reported feelings of work overload. And it’s
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Artificial Intelligence (AI) is Not Ready for Prime Time in Healthcare, Yet

Sometimes we read what others are saying and, because we want it to be true, we imagine it is true. It’s important to break down false promises and inaccurate information about Artificial Intelligence (AI). Healthcare has not even begun to realize the potential of AI, as we are merely at the infancy stages of applying
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Key Strategies to Improve Revenue Cycle Processes in 2021

2020 was an especially difficult year for most rural hospitals and health systems, who lost an estimated 70 percent of their income due to delayed and deferred visits and procedures. Although billing and claims might seem like a pretty linear process, there are detours and bumps that challenge even the best revenue cycle management teams.
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Staying On Track with Digital Initiatives

This has been one tough year for healthcare, and like other parts of life, progress isn’t always linear. What we find more valuable than simply acknowledging the outcome of progress is in recognizing the value of the experience itself. And this applies well to digital technology. We Embraced Digital Technology We made great strides in
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Prior Authorizations’ Impact on Healthcare

A survey conducted by the American Medical Association (AMA) discussed the impact of prior authorizations on patient care. Out of a sampling of 1,000 physicians, one-third of the respondents stated they have a dedicated staff who work on prior authorizations approximately two business days, or 14 hours, each week with 86% of the physicians surveyed
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Applying The Lessons of Digital Technology in a Post-Pandemic World

Automation has proven to be a digital ally in hospitals and health systems over the last year. The trends around Robotic Process Automation (RPA) were accelerated during the pandemic, and there is no reason to believe the surge in adoption will slow down. Hospital and health system CEOs are leading their organizations by implementing tools
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Boston Software Systems Interview with Brad Cox, Director of Patient Accounting, Northwestern Medicine

When a provider contacts a payer to check a claim status, it takes an average of 14 minutes and costs the provider $7.12. By the time a claim reaches a denied status, the provider has lost at least two weeks. Considering that the time between claims submission and payment can be as long as four
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Does Your Digital Transformation Strategy Include RPA?

Digital transformation refers to improvements in a “digital era.” Healthcare has seen significant strides from digital transformation efforts during the past year. Projects have included a diverse range of solutions, from hosting IT services in the cloud, to creating touchless encounters like telehealth, reducing manual tasks, and improving connectivity across disparate systems. COVID-19 increased the
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How Can a Digital Workforce Address Healthcare’s Challenges?

It’s truly been a year in healthcare, and with it came many changes as a result of the challenges posed by the COVID-19 pandemic. Technology quickly accelerated the adoption of digital health services and solutions like telehealth and RPA, because organizations were in need of tools that could be deployed quickly and easily, without interruption
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How Healthcare Automation is Reducing Resource Requirements

Hospitals and health systems worldwide have embraced the ability of Robotic Process Automation (RPA) to facilitate services and drive operational efficiencies over the last year. These digital transformation efforts continue to be advantageous – and not just for these chaotic times of COVID-19. RPA technology has proven to be an enabler for people, with benefits
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KLAS 2021 RPA Satisfaction Scores

KLAS Research released their annual “Best in KLAS 2021” report last week on Software and Services. We’re thrilled to be introduced in the Robotic Process Automation (RPA) vendor category, a new market segment for 2021. KLAS puts forth significant effort to find the true story of what is happening with every healthcare vendor solution. New
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Robotic Process Automation is not Artificial Intelligence.

Hospitals and healthcare organizations face ongoing challenges with process efficiencies and the need to accomplish more with reduced margins. We think it’s important to do a deeper dive into some of the things Robotic Process Automation (RPA) is, and what it’s not. It’s not Artificial Intelligence (AI). As much as some vendors want to attach
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Revenue Cycle Management (RCM)