3 Best Ways to Increase Cash Flow in Healthcare [+ calculator]
The 3 best ways to increase cash flow in healthcare with a calculator.
How to use Robots (RPA) for your Revenue Cycle (RCM)
Compare what type of robotic process automation (RPA) to use for your healthcare RCM (revenue cycle management) and AR (accounts receivable)
Rich Handler
Apr 11, 2022
New Automation Technology
Many healthcare companies want to automate their processes around AR (accounts receivable) and RCM (revenue cycle management).
New automation technology, like RPA (robotic process automation) is now widely available.
However, most companies don't know where to start on this journey. They don't know what type of automation or software products will help them.
Two types of RCM Automation
Broadly, there are 2 types of automation technology:
1. Built-for-purpose tools
- These are automation tools designed specifically for AR, RCM and Billing in mind. These tools help you automate your AR/RCM processes.
- They connect to your practice software (EMR), clearing house and portals.
- They are quick to set up, and can be managed by you. AR Proactive falls in this category.
2. Generic automation tools
- These are general purpose tools to automate almost any day-to-day work on your computer. These tools help you automate generic tasks like Excel report creation, email sending, and pulling reports from a website.
- They may connect to your practice software (EMR), and it may be limited to particular parts of your EMR.
- They sometimes require developers to setup.
Which type of Automation should I use?
Below we compare using AR Proactive (our solution) vs. generic tools:
|
AR Proactive |
Generic Automation Tools |
|
| Designed for healthcare AR and RCM, with an online AR Aging and RCM dashboard | vs. | Do not have RCM-specific screens/pages for working AR/RCM processes. |
| Pre-built, robust integrations to PointClickCare, Klein Software, clearing houses, portals etc. | vs. | Integrations are limited and/or brittle. |
| We can ingest plain-English business rules (which we convert to code), for role-based teams and multi-person workflows | vs. | Requires developers (in-house or 3rd-part) and is less role-based |
| We're adding new features every month based on healthcare customer feedback |
vs. | Off-the-shelf build features for mass appeal, not niche need |
| Simple user interface because human judgement is needed for many RCM/AR Tasks | vs. | Better at automating Tasks that do not require human judgement, and so therefore the interface for humans is weaker |
Cost comparison
The total cost of ownership (TCO) also differs between these 2 types of automation.
|
AR Proactive |
Generic Automation Tools |
|
| Cost of software This is the cost of your software instance, features and user logins. |
included | included |
| Build Developers set up your software instance, gather your business rules (i.e. what the robot must do?), and and code the robot. |
included | separate cost |
| Maintain Developers update the robots when your business rules change, or your EMR (or 3rd party website) user interface changes. |
included | separate cost |
| Monitor Developers check that the robots are functioning correctly. They fix any processes that got stuck and involve the client business unit if needed. |
included | separate cost |
| Domain expertise and support Collaborate with business analysts who understand healthcare and RCM, and can guide you toward industry-specific, best-practice automation. |
included | separate cost |
Final Takeaways
- RCM processes which involve human judgement are more suited to built-for-purpose Automation Tools. Whereas generic automation is suited for repetitive tasks which can be done by robots alone.
- Faster ROI can be gained from built-for-purpose Automation tools since they are "ready to go" for RCM / AR applications and can be set up quicker.
- Cost (TCO) is lower with AR Workflow Automation since we include programming, maintenance, new features and RCM-specific support.
May the force be with you,
Rich Handler
CEO, AR Proactive