bobrapier

1
Automating Revenue Cycle Management for
Healthcare Providers

2
Summary
Automating Revenue Cycle Management for
Healthcare Providers
Automation is the key to neutralizing Revenue
Cycle Management challenges
Continuing with digital transformation to improve
the Revenue Cycle
3
As the healthcare providers struggle to keep
operational costs down while providing
high-quality patient care, the pandemic and ever-
changing healthcare regulations have resulted in
various problems for healthcare organisations.
The healthcare industry today is witnessing
an increased burden as there is enormous
demand due to increased hospitalizations. One
of the most daunting challenges for the
healthcare sector is to streamline operations
while ensuring profitability. Automation is among
the most sought after change to embrace the
fast-changing digital scenario. It provides
unique capabilities across a wide range of
business processes, causing healthcare operations
to undergo a disruptive revolution, increasing
the potential of Hyperautomation.
4
To take advantage of everything this boom offers,
leading healthcare providers are implementing new
management paradigms and cutting-edge technology
methods. Revenue Cycle Management is one of the
most appealing business processes for healthcare
organizations to start automating. Robotic
Process Automation (RPA), Intelligent Automation,
and cognitive technologies like Artificial
Intelligence (AI) can assist healthcare
businesses in improving productivity and, as a
result, lower collection costs, which is crucial
for increasing cash flow.
5
(No Transcript)
6
Automation is the key to neutralizing Revenue
Cycle Management challenges
To understand where efficiencies might be
introduced, healthcare organizations that want to
enhance their revenue management need more
visibility across all inter-related revenue cycle
systems. Nonetheless, gathering the revenue
cycle data required for visibility is sometimes
time-consuming, laborious, and resource-intensive.
Throughout the revenue management cycle,
hyperautomation in healthcare builds software
bots that can learn, mimic, and execute
rule-based operations as humans do.
It enables healthcare businesses to automate the
continuous capture of revenue cycle process data
across all platforms, giving employees the
real-time, precise information they require for
better revenue planning and management.
7
When coupled across a single unified workflow
platform with advanced analytics, the impact of
hyperautomation on overall financial returns to
healthcare providers can be enormous. It helps
save costs and eases up time for employees to
focus on more important responsibilities like
enhancing patient care and saving lives. These
advantages are attracting the attention of
healthcare businesses, with Gartner predicting
that by 2023 half of U.S. healthcare providers
will invest in automation.
8
Continuing with digital transformation to improve
the Revenue Cycle
The demand for hyperautomation to address
difficulties of healthcare providers has never
been stronger as government and commercial
players have lower reimbursement rates. Providers
must comply with a bewildering variety of new and
growing laws. There are a few options for
overcoming this problem without adding to the
expense or complexity. Using hyperautomation to
improve Revenue Cycle Management services is a
proven technique to achieve this goal with
considerable benefits.
9
Healthcare organizations are equipping their
workforce with more exposure to the revenue
cycle, managing revenue end to end, and resolving
top priorities like enhancing patient outcomes
and experience, lowering operational costs, and
increasing billings. By leveraging
hyperautomation in revenue cycle management
solutions, it is a win on multiple levels. So,
if you are a healthcare provider and seek to
empower your operational efficiency and Revenue
Cycle Management by embracing hyperautomation,
get in touch with JK Tech. JK Tech is a key
partner of Evolute IQ, a market-leader in
hyperautomation technology, delivering the
ability and understanding the requirement to
provide a holistic solution for unlocking the
next level of digital disruption through
hyperautomation.
10
Thank You

• marketing_at_jktech.com