Session ID: 
79

How Web Bots Freed $2 Million from a Billing Bottleneck

4:15pm - 5:15pm Tuesday, February 12
Orlando - Orange County Convention Center
W308A

Description

As evidenced by the 2018 Advisory Board survey of healthcare leaders, cost containment is now the top goal for hospital CEOs. For the hospital revenue cycle department, that starts with taming what has become a staggering $471 billion dollars per year for our nation’s providers simply to carry out billing and insurance activities. This session will provide a proven way to bring back millions of revenue to the bottom line: automating claim status follow up with healthcare insurance companies. At Avera Health, this single change has reaped over two million dollars in cash flow improvements in the first year alone, while reducing aged A/R accounts by almost half. For an informative look at where AI-driven technologies are really delivering in healthcare, be sure to attend this session to discover how robotic process automation is reinventing how hospitals communicate with insurers.

Learning Objectives: 

  • Appraise the use of automation for communicating with payers about billing and insurance matters
  • Explain how robotic process automation queries, retrieves and normalizes data from payer websites
  • Describe how robotic process automation routes billing and insurance data to defined workflows and designated staff

Speaker(s): 

Vice President, Central Business Office Services,
Avera Health
Vice President, Product Management,
Recondo Technology

Audience: 

C-Suite
Healthcare Financial Professionals
Management Engineer and Process Improvement Prof.

Level: 

Intermediate