Intelligent Automation of the Revenue Cycle: How an Integrated Platform Approach Yields Financial Results

In this rush to invest in automation and digital solutions, providers are often overlooking how a multi-layered technology approach can increase value realization. They need intelligent automation (IA) platform that incorporates a mixture of powerful AI technology levers such as machine learning (ML), natural language processing (NLP), and optical character recognition (OCR), combined with RPA and workflow orchestration, which enables humans to work harmoniously with these digital assets. This article will examine how this IA platform can be utilized to deliver financial value within the revenue cycle strategically.

When deployed correctly, IA can help health systems realize new revenue streams by improving net revenue capture, deliver cost reductions through automating time-consuming rules-based revenue cycle tasks and produce more predictable reimbursements. However, in order to achieve these financial and operational results, organizations need to assess how and where to apply technology.