Adopting a top-ranked RPA solution will make a difference for healthcare organizations interested in automating billing and claims management processes.
February 10th, 2021
We at Databound are incredibly humbled and grateful to have been awarded 2021 Best In KLAS for RPA Solutions. KLAS is a highly respected organization in the healthcare IT space, and especially for revenue cycle. They have proven for years to be a trustworthy industry partner that hospitals can count on to gather client feedback and to echo that feedback in the form of unbiased reports and advice.
At the same time, we are delighted that our strategy of specializing automation to support the healthcare revenue cycle and putting our clients’ needs first has proven effective. We have gained this recognition over several industry giants and even another long-term industry veteran.
However, there is a deeper context here. The fact that KLAS has added RPA as a new market segment is proof that interest in RPA is growing and that the healthcare industry realizes the value that RPA can provide.
The RPA impact in Healthcare
We have all seen the reports about the trillion dollars wasted in healthcare every year. Over a quarter of this – over 265 billion dollars is administrative waste. A significant portion of this waste can be eliminated with better automation. So, we are talking about a significant impact that RPA can have on the cost of healthcare.
This has never been more true than it is today, in this time of COVID.
Responding to COVID-19
The pressure to change quickly has never been higher. Just the last year has seen new telemedicine systems implemented as well as new physical locations and information systems to support COVID testing and vaccine administration. All of this is happening with a workforce that has shifted to working remotely, and often with fewer resources.
The software systems that we rely on have upgrade cycles planned not in weeks or months, but years. These big systems were already under stress from shifting regulatory and business models and cannot be upgraded and deployed in a cycle that can reasonably respond to the current pace of change. This is an area where RPA can be especially helpful because it puts the power of scalable, customized workflow in the hands of those on the front-line of making the software work.
Take, for example, how one of our clients, a large hospital system in the north-east, needed to set up COVID testing for its 70,000 employees. Each person needed to be registered, have an appointment set, and the appropriate lab-work ordered. The clinical and financial systems were not designed to do this automatically. It would have been a herculean task to undertake manually, requiring at least 50 FTEs working full time for a week to get this done. A small team of just a few RPA analysts was able to get this done in just a few days, from conception to completion.
We have many clients using our RPA solution, EMUE, for other COVID use cases. These include integrating hand-held tablet software used for testing and vaccination sites, pre-registering patients for test and vaccine visits to reduce the time patients spend in line, automatic registration for second vaccine doses, and many more.
On top of these COVID related cases, our clients are being asked to do more with less staff, and RPA can definitely help here too. We have documented over 130 use cases that our clients have achieved on the EMUE platform, starting from patient access and going throughout the patient financial services and claims management process that help our clients be more efficient, more effective, and even more accurate.
The best part for us is how fast we can provide results to our clients, as well as a great ROI. In 2020, at a conservative estimate, we automated over 1.8 million hours of human activity. This means that our average client saves the time of 11 FTEs each. Our most proactive clients have saved the time of almost 100 FTEs. This frees hospital staff to focus on higher level work and to absorb the ever-increasing loads placed on them without increasing staff.
Databound is proud to be a part of the solution to the ever-increasing cost of healthcare, and we are also delighted to have been selected as Best in KLAS for RPA. It is truly an honor to be included in this shortlist of healthcare software companies recognized for their client focus that they bring to this challenging market.
About Databound: Databound provides automation software and services for the revenue cycle, helping healthcare organizations increase productivity, save time, and capture missed revenue. Databound continues to set the standard for RPA excellence and has won Best in KLAS with unmatched customer satisfaction reviews.
About KLAS: KLAS is a trusted research company providing accurate, honest, and impartial insights for the healthcare IT (HIT) industry. The KLAS mission is to improve the world’s healthcare through hard-to-get HIT data by amplifying the voice of providers and payers. To learn more about KLAS, visit KLASresearch.com.