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BOT automation – The future of healthcare RCM

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  Healthcare, like every other industry globally, is leaning towards intelligent automation. This means using robotic technology and Artificial Intelligence to streamline processes, especially in the backend, to achieve efficiency and effectiveness. When it comes to revenue cycle management services , there is so much scope for improvement, even with top healthcare providers. That’s why this is a fascinating industry to be in right now.   What’s BOT automation, and why is everyone in the healthcare industry raving about it? More importantly, how will BOT automation help revenue cycle management services?   BOTs or web robots are software applications that can run by themselves and complete specific tasks quickly and precisely. Some advantages of using bots include large-scale processing, completion of tasks in a fraction of the time taken by the human workforce, and the ability to work 24 hours a day.   Contrary to the belief that such bots can lead to high unemploym...
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Creating an effective denial management strategy in healthcare

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  Payer denials remain one of the biggest challenges affecting the healthcare and the RCM industry. Healthcare providers find themselves increasingly handling payer denials, which reduce or delay the cash inflow and put them under financial stress. RCM leaders are under constant pressure to identify and curb the causes of denials and make fundamental and impactful changes to the overall RCM operations to ensure their clients are paid their due. Denial management service  has never been more demanding than it is now.  An advisory board report states that payers are denying more claims than ever right now, and about 40% of all the denied claims have preventable reasons associated with them. Some of these reasons include:   -  Lack of medical necessity -  Pre-authorization issues -  Documentation problems -  Eligibility issues -  Issues with pre-certifications   One of the most critical tasks of any third-party denial management service ...
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