The Chartis Group Releases White Paper “Launching a Revenue Cycle Automation Strategy”
CHICAGO, May 28, 2019 /PRNewswire/ — Intelligent automation (IA), artificial intelligence (AI) robotic process automation (RPA) and machine learning are all hot buzzwords in today’s healthcare industry, and while slower to adopt, the healthcare sector is gradually embracing this technology. IA has the ability to revolutionize the revenue cycle. This paper, “Launching a Revenue Cycle Automation Strategy” provides a framework for addressing the automation opportunity.
Kevin Ormand, Chartis Director, Revenue Cycle Practice Leader and co-author of the paper stated, “An organization that has appropriately planned for and integrated automation strategies into its revenue cycle operations can differentiate itself through transformed processes, more strategic customer service tactics, reduced cost to collect and redeployment of talented employees to focus on exceptions that require focus versus unnecessary manual processes.”
Like other transformational projects, an IA solution such as RPA will require proper governance and a careful approach to ensure a successful implementation that aligns with organization strategies and goals. To appropriately begin this journey, there are several steps to consider for successful implementation and adaption:
- Establish a Governance Structure
- Develop a Strategic Framework Tied to Workforce Management
- Identify and Inventory Process Opportunities Viable for Automation
- Document the Current State Through Process Mapping
- Select a Vendor
- Conduct a Proof of Concept
With the continued growth and prevalence of RPA, coupled with the ever-present need to improve margin within healthcare organizations, it is quite likely more revenue cycle organizations will explore and adopt RPA in coming years.
Mary Buzas, Chartis Associate Principal, and co-author of the paper noted, “Proper planning and a well-thought-out approach to execution is critical to success. The benefits can be robust, including reduced cycle times, more predictable outcomes, improved quality, cost savings, advanced analytics and increased employee satisfaction.”
About The Chartis Group
The Chartis Group® (Chartis) provides comprehensive advisory services and analytics to the healthcare industry. With an unparalleled depth of expertise in strategic planning, performance excellence, informatics and technology, and health analytics, Chartis helps leading academic medical centers, integrated delivery networks, children’s hospitals and healthcare service organizations achieve transformative results. Chartis has offices in Atlanta, Boston, Chicago, New York, Minneapolis and San Francisco. For more information, visit www.chartis.com.
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SOURCE The Chartis Group
