Five Reasons Why Your Billing Company Needs Automation Bots
A company that utilizes bots is PatientlySpeaking, an RPA-based smart system that integrates with Kareo’s Practice Management solution. Clients who adopt Kareo’s integrated platform and PatientlySpeaking’s HL7 solution can achieve the same output as three full-time employees with 90% of transactions processed automatically. Here are five ways that billing companies benefit when they incorporate automation bots into their daily workflow:
1. Easy Information Exchange
With the highly efficient HL7/Excel Data Interface from PatientlySpeaking to connect disparate healthcare systems, billing companies can exchange information from external systems to the Kareo PM or have a continuous upload process of encounters. The combined system digests data so that it can be processed through the standard Kareo API, brings in patient demographic and financial information, and eliminates paperwork and manual entry.
2. Streamlined Reimbursement Process
While having clients on Kareo’s EHR ensures a more streamlined reimbursement process, not all practices that a billing company works with have the same system. Additionally, practices may provide their services at other facilities, such as hospitals, that makes accessing appropriate patient information a highly manual process. PatientlySpeaking bridges the gap between a provider’s EHR and Kareo by bringing in the patient demographic and financial information directly into the Kareo platform, resulting in users seeing a 30% boost in revenue per clinical encounter and 25% faster A/R turn around as compared to the national standard.
3. Customized Data Pipeline
Billing companies can create their own customized intelligent data pipeline. PatientlySpeaking’s RPA solution enables users to take information from disparate systems, layer them with established business rules and logic and generate a clean upload of encounters and patient information directly into Kareo. From there, Kareo’s robust billing company solution enables full control over the claims process.
4. Standardized Billing Process
Kareo and PatientlySpeaking’s exclusive partnership creates a seamless data conduit between billing companies and their practices. This solution enables the standardization of billing processes, regardless of the clients’ EHR system, while streamlining repetitive tasks. Helping billing company stay on top of the constant flow of data. Once the business rules and logic are established, automation bots maintain a consistent and accurate data flow straight into Kareo. Resulting in users experiencing a 95% clean claim rate and reduced denial rate of 2-3%.
5. Optimized Operation
Kareo’s integrated platform and PatientlySpeaking’s HL7 solution helps optimize operations and helps billers focus on the tasks that matter. Users of Kareo and PatientlySpeaking’s solution see a 50% improvement in operational efficiencies and 200% improvement in claims processing speed. Employees are able to drastically reduce the amount of time doing manual data entry and focus on advanced problems that make a bigger impact on business goals. Kareo allows billing companies to on board practices in minutes, rather than days. Combined with Kareo’s intuitive platform, PatientlySpeaking’s automation solution helps billing companies scale up quickly and efficiently, empowering them to proactively engage clients and grow their business. For more information on how Kareo can help billing companies, visit us at Kareo.com/billing-companies.
At Kareo’s webinar, “Leveraging Automation Bots to Expand Your Business Potential,” on Thursday, April 15, at 10 AM PST, Brian Cafferty, CEO of PatientlySpeaking, will discuss how bots have helped clients to automate more than 90% of their transactions, reduce time and effort on mundane, repetitive tasks and free their staff to focus on higher impact initiatives. Please join us on April 15 and you can register here.