RPA in Medical Billing
Discover RPA in Medical Billing By Wellmed
RPA in Medical Billing
The healthcare system is an area that will benefit significantly from RPA. One of the significant areas in healthcare that RPA can improve is revenue cycle management (medical billing), which involves getting paid for medical care given. A health system’s revenue is predominantly obtained through medical billing, and it is a vital source of revenue for healthcare entities.
RPA in medical billing involves automating billing processes like portions of the electronic health
records, revenue analysis, payment posting, and denial management. Therefore, RPA increases
efficiency and productivity in medical billing while decreasing errors and denials.
Advantage of RPA in Medical Billing
- Low data error – The process of entering data can be repetitive and tiring, leading to many data entry errors. RPA reduces the errors, as it is more efficient and doesn’t get tired.
- Faster turnaround – Since robots can work without tiring, the turnaround is quick.
- Increased productivity and efficiency
- Low operational costs
- Improved revenue cycle
- Better analysis of data – Robots can easily spot trends in large data volumes.
Implementing RPA
RPA strategies are often implemented by healthcare entities dependent on whether the RPA is supplied as software or as a service. There are more advantages to using RPA provided as a service instead of software. Some benefits are no additional hardware or software costs. No, IT staff is required for maintaining and updating the bots, etc.
The effect of RPA in Medical Billing is not only to be cost-effective but also to improve quality and efficiency. These bots help the human teams to channel their energy on higher-order functions such as Coding Audits and fighting the Denial with Insurance companies, instead of wasting time on simple, boring, and repetitive tasks.
How Wellmed leverages RPA in Medical Billing
Wellmed has an RPA known as Zeus; they deploy on behalf of their clients for their revenue cycle management processes.
They developed Zeus, a family of 60 bots (robots), using RPA and machine learning technologies. Zeus reduces human error, minimizes denials, keeps medical billing data continually updated, and provides data analytics that helps improve key performance indicators (KPIs).
You can connect with Plutus Health today to outsource our RPA in medical billing services and know all about Zeus.
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AR in Medical Billing
Discover AR in Medical Billing By Wellmed
One of the biggest challenges healthcare and medical facilities face is maintaining a healthy cash flow. It can be challenging to keep up because of ever-changing medicalbilling regulations. On top of this, your practice needs to stay up to date with medical coding while managing increasing operating costs and the increasing number of high-deductible health plans. Managing accounts receivables has become more complex than ever.
What WellMed does differently for AR Management?
- Aggressive follow-ups with Insurance Companies – Our expert medical billing team aggressively pursues all unpaid insurance claims. ERAs/EOBs and claims are assessed, prioritized, and handled on a claim-by-claim basis. Regular follow-ups with insurance companies done based on each Payer’s payment cycle.
- Claim status check bots – Plutus Health’s proprietary Claim Status check bots leverage automation to make the claim status check process efficient and error-free. Our bots also provide the team with a faster turnaround time for claim status retrieval.
- Work Closely with Payment Posting and Denial Management Team –AR team works closely with Payment posting and denial management teams to resolve underpayments and outright denials.
Most Common Reasons For High AR
The first step in managing and improving your practice’s AR medical billing is identifying its most common AR issues, which may include:
- Insurance companies and patients are not paying the money they owe
- An outstanding patient bill that’s worth less than half the original value
- Unwarranted write-offs,
- Insurance claim denial
- Collection culture
- Bad debts
Once you’ve identified problems in your AR, consider using Plutus Health’s accounts receivable medical billing services. It can make it easier to improve your AR and prevent medical billing denials because it allows your team to:
- Ensure transparency and up-to-date information and knowledge on denials
- Code every claim according to the requirements
- Transmit claims appropriately and on a timely basis
- Scrutinize to find missing or incorrect information
Why Outsource AR services?
You’re busy running your practice and caring for your patients. That’s why it’s wiser to outsource AR services to companies like Plutus Health. Partnering with the correct AR services provider will provide excellent AR and denial management processes and systems to your practice and improve collections to keep your cash flow healthy.
Our Success Stories
- Plutus Health Significantly Improved AR of a Cardiology Practice within 120 days
- Plutus Health helped established ASC to generate revenue from 270+ AR bucket
- Plutus Health’s optimized RCM process helped an ABA Therapy Center increase overall cash flow by 23.3%
Ready to take the next steps?
Wellmed offers innovative solutions to simplify AR in medical billing for your practice. Our efficient and experienced AR team applies enhanced artificial intelligence (AI) and RPA (remote processing automation) to ensure compliance with billing and\coding guidelines. You can maintain a healthy cash flow with our services while providing compliant and correct documentation.
Please enter your details below and one of our team members will contact you shortly.