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Medical Billing Automation: Benefits, Use Cases, Custom vs Pre-built & Technologies

Quick summary: People have made medical billing 0.1% billing and 99.99% data entry!

We are here to change this perception with medical billing automation solutions.

Automation ensures operational efficiency, saves time, costs, and resources while at the same time making the billing process faster, simple, and stress-free.

Means, it breaks the complex and tedious barriers that are restricting organizations’ pace to achieving their initial goals.

And in this blog, we are going to discuss how automated medical coding can help you boost your billing capacity by 250%.

An overview of the typical medical billing process

Before jumping into medical billing automation, first, it is important to understand the traditional billing processes.

This traditional approach is well-known for its complexity and tons of errors.

Here is what a typical medical billing process looks like.

  • The registration process includes collecting and input of patients’ basic demographics
  • Financial responsibilities to identifying the insurance covered details or eligibility
  • Patients check in and check out procedure
  • Preparing a super bill that gives complete insights into patients’ demographics, medical history, and services
  • Claim generation and submission procedure
  • Claim to monitor to identify validation and compliance
  • Tracking the payment
  • Patient statement preparation
  • Follow-ups to make sure bills are paid or not

The long long list of the hustle and bustle!

The outcome of this mess is – tons of errors, loss in revenue, time-consuming processes, and poor customer satisfaction.

And here is the proof! (Source)

  • Errors in medical bills almost cost hospitals $68B annually
  • Almost 50% of medical claims have at least one error

But medical billing automation pours the magic into this entire mess!

Automated medical coding enables healthcare organizations to avoid the hassle of the traditional billing process.

In simple terms, it offers a faster, more efficient and error-free medical billing solution that initially saves time, costs, and resources associated with the same.

1. Eliminates the costlier manual errors

Manual data entry is one of the most time-consuming processes, there is no doubt about it.

But with RPA in medical billing or coding, you can automate the entire data entry process which also ensures 100% accuracy.

As a result, it reduces claims errors which assists you to speed up the claim process as there is no need for data correction and resubmission.

And this is the major benefit of medical coding automation.

2. Automated payment and tracking

It automates the claim submission and tracking process so that billers or administrative staff don’t need to scratch their heads over tedious phone calls.

What’s more important is that it notifies the management staff if something needs to be done or requires a correction (in real-time).

In short, automated medical coding solutions speed up the reimbursement process and make it efficient at the same time.

3. Comprehensive reporting

It centralized the data in one place.

This approach helps the entities to make a data-driven decision with ease.

4. No need to worry about compliance

Medical billing contains massive amounts of sensitive data about patients.

To protect the data against cyber attacks, it must assure data privacy laws.

Automated medical billing enables you to stay compliant with all the data privacy guidelines.

5. Lowers operational costs

The RPA in medical billing reduces human efforts and errors, saves time and encourages the staff to stay proactive with other vital responsibilities.

As a result, it reduces operational costs without compromising accuracy and security.

What can be done with automated medical billing?

RPA for medical billing gives healthcare entities freedom to enrich their operational efficiency and saves time and costs as it automates tasks such as,

Medical billing automation solution

1. Extract the data from the EMR/EHR automatically

You don’t need to operate the two complex tech solutions at the same time.

Integrating EMR/EHR with automated medical billing software enables you to extract patients’ data automatically while performing the process.

2. Data validation

Medical billing automation enables you to automate patients’ demographic data validation process that includes insurance coverage, medical history, etc.

3. Claim processing and monitoring

Once the data is verified, you can automate the claim submission and monitoring process.

Furthermore, it alerts if any changes are needed in the claim.

4. Revenue cycle management

Automation can streamline the revenue cycle management process by

  • Reducing manual data entry
  • Providing real-time visibility into financial data
  • Automating patient statements and payment tracking

5. Coding and documentation

Get the diagnosis or procedure codes identified automatically with automation.

This helps to ensure that claims are processed correctly and reduces the possibility of denials.

Other billing processes that you can automate

  • Patients’ check-in and check-out
  • Report generation

Okay. So, if you are planning to obtain an automated medical billing solution, here is the most crucial aspect that you should not avoid.

Custom Vs. pre-built medical billing automation software: What to choose?

As healthcare-focused IT professionals, we always recommend custom solutions over pre-built ones.

But why? Pre-built software is,

  • Costlier on the long-term basis
  • No code ownership and IP rights
  • Stay ready for the data breaches
  • It is not built as per your needs.
  • Have to pay extra money for additional features and customization

Technologies we use to build automated medical billing solutions

We hold a proven mastership for developing innovative medical billing automation software that offers high performance, flexibility, and scalability.

To do so, we use robust tech solutions such as,

Medical billing automation technologies

1. RPA (Robotic Process Automation) for medical billing

We use RPA technology and RPA tools to build and train the software bot to execute a billing process or task automatically.

This software bot gets installed in your system the way you install any program in .exe format.

2. AI (Artificial Intelligence)

RPA has a limitation in that it automates the process with fixed input and output.

Thus, we use AI along with RPA to perform dynamic processes automatically. It enables the software bot to learn and make a decision by itself.

3. OCR (Optical Character Recognition)

OCR is a robust and modern-age tech solution that allows you to extract data from images and PDFs in machine-readable text format.

A quick guide to a full-fledged medical billing automation software using RPA

RPA in medical billing

We deliver experience. Not just a product (That’s what we love to do!)

We are an Ontario-based healthcare IT company.

We are well-known to shatter the healthcare tech, business, and compliance hardships.

As we have 50+ healthcare IT masterminds who only adore performing health tech projects.

And for the past 8+ years, we have furnished several successful health tech solutions for startups, organizations, and enterprises.

We have a solid vision to scale up the care approach of the healthcare industry and we are serious about it!

So, if you want to count on promising outcomes, let’s have a productive talk about your automation needs!