Revenue cycle directors are seeing a clear path for automation to increase revenue, decrease denials, speed up prior authorization and claims, and remove many of the repetitive clicks that hamper daily operations.
From an ROI perspective, automation saves money through fewer full-time equivalent positions.
Three rev cycle executives interviewed, who are at different stages of revenue cycle automation in their health systems, said the savings have not been achieved through layoffs, but through attrition and employees being trained for jobs machines and even smart AI processes, can’t do.
“From a savings perspective, it’s a moving target,” said Lynn Ansley, senior director for revenue cycle at Moffitt Cancer Center headquartered in Tampa, Florida. “People get so dead set on FTEs. Our volume is growing. To me it’s not the net reduction in FTEs. It’s people we wouldn’t have to hire to keep up with the volume.”
Robotic process automation equates to about 27,000 hours in a month saved, which correlates to around $500,000, Ansley said. As the price tag on automation is pretty large, the savings make for a good argument for starting the process.
However, the executives at Moffitt Cancer Center didn’t need to be sold, she said. Automation