World-Class Efficiencies: Robotic Process Automation Technology for Kareo Billing Customers
Robotics Process Automation (RPA)
Kareo is an integrated technology platform that offers Electronic Health Record (EHR), billing and communication solutions designed for small-to mid-sized independent medical practices. The Kareo billing solution is also popular among billing companies around the country.
Recognizing the need for sophisticated and accurate data delivery and processing, Kareo now offers an RPA billing solution that is especially easy to use.
What does Robotic Process Automation do?
Robotic process automation helps streamline billing and data workflows by using software scripts called “bots” to replace repetitive, manual data entry processes. Kareo offers four different types of bots that help streamline everyday billing workflows. The bots are programmed to specifications set by your organization, and range from data entry to ERA and unapplied payment processing.
For a visual overview of the benefits of Robotic Automation in Medical Billing, download our infographic here.
What are typical uses?
RPA is perfect for billing companies with clients on non-Kareo EHRs, since they no longer need to devote valuable time transposing data from one platform to another. RPA can help automate revenue cycle management workflows such as processing ERAS, posting unapplied payments and consolidating EHR data for simpler billing.
What are the benefits of Robotic Process Automation?
Current customers report that within the first three to six months of implementation they saw improvements of 50% in operational efficiencies, 200% in claims processing speed, 30% in revenue per clinical encounter, 95% clean claims and only 2-3% claim denial rates. Mistakes are reduced to almost zero, because the human element in data input has been eliminated. Billing staff can be assigned to more interesting and challenging tasks, helping to reduce turnover.
What types of bots are available?
Kareo currently offers four types of ‘bots’, which can be adopted separately or as an integrated suite.
- Smart Connector for HL7 & Patient Data for transferring patient demographics and financial data from external systems into Kareo
- Automated ERA Processing to reduce the manual tasks of posting electronic insurance payments
- Automated Unapplied Payment Posting is the application of patient payments against outstanding balances
- Automated Clinical Note Creation for moving provider notes from diverse EHRs into Kareo Clinical
Each bot offers unique benefits. For example:
- The Smart Connector creates a seamless data conduit between providers and their practices, regardless of diverse legacy systems that might be in place.
- The Unapplied Payments bot navigates the complicated and time-consuming task of identifying when patient payments should be posted and keeping A/R current and improving revenue cycle management.
- Automated ERA Processing cut down on human keystrokes, ensuring accurate posting of electronic remittances, incorporating unique business rules.
- Automated Clinical Note Creation allows for the automated creation of templated notes based upon established business criteria typically supplied from an external third-party system. This can be aon a one-time or ongoing basis.
How is the bot implemented?
A Kareo automation expert demonstrates configuration options, and helps determine how the customer wants to post transactions, sort data, and set rules based standards. The appropriate bots are then programmed according to established rules, and activated within the Kareo billing system. Kareo supports the entire solution from end to end, including assistance on accessing the workbench and logins.
What’s an example of an implementation?
Let’s take a medium-sized company struggling to compete in a crowded field with other players offering identical services. They provide client reports only at the end of the month, when data was considered stale. This company wanted to differentiate itself by providing faster and more accurate services, and then expand to become a national presence.
By using Kareo Billing, plus Kareo’s RPA solution for data inputting and processing, the company could see improvements in:
- Billing transparency, for their company and clients.
- Efficiency, with the elimination of time-consuming manual scan
- Claim workflow, with the ability to input multiple claims all at once and submit before the end of the work day.
- Saving time to post, with the reduction or complete removal of clerical errors.
- Audit trail history, with a clear trail of work performed available, to help with compliance with industry standards and regulations.
- Employee morale, as mundane or frustrating tasks are reduced or eliminated.
- Business growth, without the need to add headcount.
What does the future look like for Robotic Process Automation at Kareo?
Experts agree that RPA technology is a megatrend that should not be ignored.Gartner calls RPA software “the fastest-growing segment of the global enterprise software market.” And Forbes predicts that “By the end of 2022, 85% of large organizations will have deployed some form of RPA.”
What about healthcare? Not surprisingly, RPA is making speedy inroads. McKinsey estimates that “Overall, healthcare has a technical potential for automation of about 36 percent” – lower than many other sectors like manufacturing, yet still enormous. Automation will have the greatest impact in areas with less provider-patient physical contact, such as medical data collection.
The healthcare functions expecting the greatest transformation from RPA adoption are the ones where Kareo excels, namely data collection, data sharing and billing. This explains why Kareo is being so proactive in bringing RPA offerings to its client base. Already its RPA solution has opened new horizons for users, eliminating data input and processing chores for billing company employees, allowing many smaller organizations to compete with much larger players due to powerful software scripts called “bots.”
How can I learn more?
For more information, visit our RPA page here. You can also download our 4 Big Benefits to Robotic Automation in Medical Billing here. Contact your Kareo representative to find out if Robotic Process Automation would make sense for your business.