Mid-market healthcare companies often face a unique set of challenges when it comes to managing their revenue cycle. These companies are typically too large to rely on manual processes, but not large enough to afford the expensive technology and infrastructure required for full automation.
One solution that mid-market healthcare companies can consider is using robotic process automation as a service (RPAaaS) with human-in-the-loop or human-as-a-back-stop capabilities. This type of RPAaaS offers a hybrid approach that combines the benefits of automation with the flexibility and adaptability of human workers.
What's RPAaaS?
RPAaaS is a cloud-based service that provides healthcare companies with access to software robots, or "bots," that can mimic the actions of human workers. These bots are able to automate a wide range of revenue cycle management tasks, from data entry and processing to billing and collections.
RPAaaS Use Cases:
One of the main advantages of RPAaaS is that it is a pay-per-transaction model. This means that healthcare companies only pay for the automation services that they use, rather than having to invest in expensive technology and infrastructure. This can help mid-market healthcare companies reduce their upfront costs and avoid the risks and expenses associated with implementing and maintaining automation technology.
Another advantage of RPAaaS is that it is easy to implement and use. Healthcare companies can quickly and easily set up/configure their bots, and they can also monitor and control their automation processes in real-time. This can help mid-market healthcare companies get started with automation quickly and easily, without the need for specialized training or expertise.
However, the real advantage of RPAaaS with human-in-the-loop capabilities is that it offers a hybrid approach that combines the benefits of automation with the flexibility and adaptability of human workers. This type of RPAaaS allows healthcare companies to automate routine and repetitive tasks, while also providing human workers with the ability to intervene and handle exceptions and edge cases that the bots are unable to handle.
For example, RPAaaS with human-in-the-loop capabilities allows human workers to monitor the automation process in real-time and intervene if necessary. This can help healthcare companies ensure that the automation process is operating efficiently and accurately, and it can also help them identify and resolve any issues or errors that may arise.
On the other hand, RPAaaS with human-as-a-back-stop capabilities allows human workers to handle exceptions and edge cases that the bots are unable to handle.
Stealth Scaling and Conclusions
In conclusion, mid-market healthcare companies should consider using RPAaaS to automate their revenue cycle management processes. RPAaaS offers a cost-effective and scalable solution that can help healthcare companies reduce costs, improve efficiency, and enhance the accuracy and compliance of their revenue cycle management processes. With RPAaaS, healthcare companies can pay for automation services on a per-transaction basis, avoiding the need for expensive technology and infrastructure. This can help healthcare companies get started with automation quickly and easily, and it can also help them achieve better financial performance and provide better care to their patients.
Stealth Scaling will build out software robots that can mimic what humans do in manual repetitive processes such as invoice processing, order to cash, data reconciliation, data entry, know your customer, claims processing, and more.
The bots run 24/7, can scale up or down based on seasonality, and are backed by trained humans in the loop who have clinical experience.
The humans only handle exceptions or validations that the bot needs assistance with.
The Philippines has a hub of talented practitioners in a variety of verticals that can jump in and support these processes when needed.
This is truly a disruptive model because clients don’t pay any implementation, maintenance, or license fees to software companies to start automating processes.
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