Automation and how it is becoming an Essential Strategy for Healthcare Providers to Survive a Pandemic?
Indoors. Outdoors. And, a good dose of both work and play.- isn’t this the most simple definition of life?
Well, this is a thing of the past as life begins to get confined into private spaces as a global pandemic takes centrestage. COVID-19 has already made a disastrous impact and continues to do so. The agenda of companies around the globe is to adjust to the new normal amidst the global crisis.
This pandemic has put tremendous pressure on the healthcare chain. There was never a time when a vast portion of the global population needed medical attention at the same time. As a result, it comes as no surprise to see that the healthcare industry is facing an uphill task of managing all the aspects amidst the huge inflow of patients.
Lack of proper attention to the patient, delay in addressing queries, under-billing/over-billing errors, delay in claim settlements, inconsistent work structure, and lack of attention to revenue management are all combining to make survival a daunting task for many urgent healthcare companies amidst a global outbreak.
Technology is the Best Solution
Just like other business domains, the healthcare industry is currently exploring ways to mitigate the damages from COVID and adjust to the new normal.
The emergence of AI, ML and RPA is generating massive innovation in the healthcare sector. If you are looking to transform from legacy healthcare infrastructure then the time has finally arrived.
‘Modern problems require modern solutions’ – Dave Chappelle
How can Technology Impact Healthcare Proceedings?
The healthcare sector is currently undergoing a massive transformation with the likes of ML, AI, and RPA. Automation is playing a big part when it comes to streamlining healthcare workflow.
Here is how innovation can help in healthcare processes during COVID times:
Reduce Billing Errors – The massive influx of patients has hampered workflow. From proper diagnosis to accurate coding, there are a plethora of tasks associated with healthcare billing. Limited workforce is turning out to be the biggest challenge and as a result healthcare organizations are not equipped to handle such large-scale crises all of a sudden.
As a result, neither can they put adequate effort on improving customer experience nor they can lay emphasis on regular work. Business processes get hampered. The limited time and large volume of patients coupled with a strict deadlines and compliance standards lays the foundation for plenty of basic errors in billing and coding.
Accuracy is the most important parameter for Revenue Cycle Management. This is exactly where technology comes into the picture. The introduction of AI-driven technologies can fully automate the billing process. It helps to achieve maximum efficiency by eradicating all human errors irrespective of the volume of data concerned.
Better Patient Support – One of the biggest challenges that the healthcare sector faces during a tense time like this is workflow management. The limited workforce faces an uphill task to deal with large volumes of patients at a go.
Automation takes the burden off their shoulders. While you have intelligent and automated solutions delivering 100% accurate billing results, the workforce can devote their time on taking care of the patients and provide instant remedy to customer queries.
Saves Time and Money – At a time like this when the entire planet is looking towards the healthcare sector, every second saved acts as a milestone. With more time, healthcare agencies can provide better services to individuals.
Automating the important business processes in the healthcare domain saves a considerable amount of time. AI-powered solutions can check a large volume of claims for Coding compliance & revenue integrity in a short span of time with utmost efficiency.
By streamlining the workflow and minimizing human decision points, a healthcare service provider can bring down operational costs. Adopting a cost-effective model at this crucial hour helps a healthcare agency to land a much-needed competitive advantage. Pandemic or not – the healthcare sector is always bombarded with stiff competition. Landing a competitive advantage at this important junction can score wonders in terms of business growth and visibility.
There is no denying the fact that these are unprecedented times and the onus is on the healthcare sector to bring life in control as the world sails through the new normal. As a result, the healthcare industry is subjected to a tremendous challenge.
The application of right technology is the only viable solution.
ExdionCA is one such modern solution that will help to mitigate Coding related risks and challenges during COVID times. ExdionCA is a modern AI-powered ML based Revenue Integrity solution that helps Urgent Care, Primary Care centers to fix Revenue Leakage and confirm compliance thereby dramatically improving the topline and achieve a 100% error-free billing process.
Consult with Exdion to get the right solution for your organization