New York, NY, August 10, 2019 --(PR.com
)-- The Knowledge Group/The Knowledge Congress Live Webcast Series, the leading producer of regulatory focused webcasts, has announced today that Andrew Woughter, Senior Vice President of Product Strategy at nThrive will speak at a webcast entitled: “Optimize Health Care Revenue Cycle Operations with Robotic Process Automation (RPA) Live Webcast.” This webcast is scheduled August 20, 2019 from 12:00 pm to 2:00 pm (ET).
Robotic Process Automation (RPA) has proven to be an important technology for the automation of manual processes. Hospitals are implementing RPA to respond to the challenging environment that currently exists in health care. This advanced technology helps hospitals to streamline operations, reduce the time to complete tasks, improve financial performance, and lower labor costs. It is easily used for common tasks that can be replicated, like queries, cutting and pasting, etc.; however, can also be trained to automate more complex task including denials management, authorization management, claim edit resolution, and other processes.
How does it work? It uses custom programmed processes (robots) that have access to applications and data sources, including end-user health information systems, data input screens, and online application programming interfaces. These robots act as a revenue cycle representative who would normally complete these tasks. While other solutions require you to log into their system, Robotic Process Automation bots log into your systems.
Since RPA leverages artificial intelligence, the virtualization technology can be easily scaled and deployed across hospitals and various geographic locations.
The benefits are significant. When RPA is successfully implemented, it can accomplish the following:
- Gather information from websites and other applications to integrate information directly into the HIS and submit pre-authorizations
- Clean up eligibility mistakes including Government Managed Care eligibility
- Respond to payor denials by generating online appeals automatically
- Automate steps within manual processes to speed up human staff and improve productivity
- Reduce manual data entry
- Improved efficiency allows for data sharing between third-party processes and tools
- Automate simple billing edit resolution
Organizations that have implemented RPA have reduced costs by 30-70% depending on processes deployed. According to Becker’s Hospital CFO Report, some organizations have increased their team capacity from 35 to 200%, so they can focus on higher priority, problem-solving tasks.
About Andrew Woughter
Andrew Woughter is the Senior Vice President of Product Strategy at nThrive where he focuses on innovation. He led the introduction and development of Robotic Process Automation as a capability at nThrive. He is a proven revenue cycle executive with 19+ years of experience in healthcare organizations and governmental regulation of health insurance. He has led revenue cycle teams for a broad variety of provider types, and has significant experience working with software and services vendors to improve revenue cycle processes and solutions. He has demonstrated success through strategic vision and innovation and development of custom tools to enhance revenue cycle solutions.
Andrew is a graduate of Bethel University in St. Paul, MN, and lives in Texas with his wife and two sons, ages 4 and 7. He loves taking the family to Disney and seeing the magic on his kids faces.
From Patient-to-PaymentSM, nThrive provides all the technology, advisory expertise, services, analytics and education programs health care organizations need to thrive in the communities they serve. nThrive integrates knowledge and expertise of the entire revenue cycle in a way that provides unmatched benefits for health care. nThrive is accountable to health care organizations, not payor or provider owners, ensuring unbiased and focused health solutions that best meet their needs. nThrive empowers health care for every one in every community by transforming financial and operational performance, enabling health care organizations to thrive.
About The Knowledge Group, LLC.
The Knowledge Group is a leading provider of Continuing Legal Education, CLE, for lawyers, Continuing Professional Education, CPE, for accountants and a variety of other types of continuing education for other professions. Our mission is to deliver quality continuing education programs utilizing industry trends and the latest technology to communicate regulatory shifts and contributions made to different fields. Our insightful and engaging webcasts are brought to you by leading influencers to offer a multitude of perspectives and outlooks.