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The ongoing inefficiencies in the current healthcare revenue cycle process are increasing and causing a rift between patients and healthcare service providers.
Most of the billing cases end up in courtrooms creating mistrust among the healthcare industry and an unfriendly environment for patients.
The number of patients who resist paying the bill and asking for justification is increasing.
Hospitals have started to lose patients due to this issue and the number of inpatients has significantly decreased over time as well.
Therefore, it is need of the hour for healthcare service providers to move towards intelligent automation in their revenue cycle process.
Automation can be done in numerous ways, hospitals can install systems which helps them generate a ‘single bill’, that gives an overall picture of the services availed by the patients.
The single bill will be issued when the patient is discharged or during the treatment.
Also, the bill can cover all the services availed by the patient. This will avoid the delay in payment by the patient.
The main objective of intelligent automation is to automate the billing process and reduce the dependability of human capital.
Once the billing process is automated, it becomes error-free and is able to deal with the complex and high volume of bills in a given time period and the human capital can focus on providing better healthcare service instead of generating bills.
The trust of the patient is also earned as the billing process becomes accurate, fast and error-free. With the help of automation, healthcare providers can benefit in numerous ways.
For example, they can enhance their service level, improve interaction with patients, collect feedback and reviews of patients, and generate a bill along with the insurance coverage of respective patients.
This feature will give patients an idea from the beginning as to how much they will be paying and what will be paid by their insurance company.
Businesses offering services instead of tangible goods need strong systems so the quality of their service cannot be challenged, and they can survive successfully in the industry. Hospitals are offering services to their patients and they need to justify the amount they are charging to the customers.
Intelligent automation can help hospitals have a system that allows patients to choose from the services they want to avail so they are aware of the service pricing. Some patients are under the impression that they will be charged less for customized services because their treatment required those services.
With automated systems, hospitals can inform patients about the types of services they offer and how costing differs for each service.
It is essential for hospitals to move their revenue cycle process towards automation as the current process has loopholes and shows opportunities for improvement.
Success in business can only be earned when a business is ready to accept and adapt to change and enhance service through automation and innovation.
Patients look for better customer experience and it is not possible to offer a good experience along with quality service if the automation is missing.
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