nThrive, a technology company providing leading healthcare revenue cycle management SaaS solutions, announced today the offering of robotic process automation (RPA) technology to automate processes and replicate the actions of human workers interacting with one or more system user interfaces. This automation results in improved productivity and efficiencies for health systems and hospitals.
nThrive software robots or “bots” are customized to hospital needs, automating an exhaustive list of processes, including:
- Denial requests for medical records.
- Missing Internal Claim Number (ICN) / Document Control Number (CDN) claim.
- Eligibility research.
- Billing edits.
- Prior authorization submission/tracking and more.
Early adopters of nThrive technology have achieved significant efficiency gains. In the area of claims management, a 50-bed hospital in Middle America estimated that it took a person a little over three minutes to determine if a certain field of information was available to enable release of a rebill. The bot was able to do the same amount of work in less than 20 seconds, resulting in a return on investment of 365-583%.
In the area of claims management, a 50-bed hospital in Middle America estimated that it took a person a little over three minutes to determine if a certain field of information was available to enable release of a rebill. The bot was able to do the same amount of work in less than 20 seconds. The client estimated an average labor savings of 2.5 – 4 full time employees for a return on investment of 365-583%.
Embarking on an RPA initiative is ultimately about seeking new, disruptive solutions that not only improve current processes but introduce completely new ways of mastering health care revenue cycle management. When choosing to automate, medical organizations open the door to a higher level of innovation, enabling development of new revenue cycle management models that will improve bottom line.
“There is no better time than now to begin a digital transformation journey with RPA to free up cost and allow for re-allocation of cash for critical initiatives,” says Andrew Woughter, senior vice president of Product Strategy at nThrive. “RPA is a tool for the health care industry to help manage recovery from the COVID-19 pandemic and to prepare for future disruptions of service.”