Leaving a Series A Company to Join Thoughtful Automation
I’ll dispel some myths about joining an early-stage company and shed some light on why I decided to join Thoughtful Automation.
Read ArticleData entry, such as medical billing and insurance claims, can be a time-consuming process that leads to a backlog very quickly. If a step is missed, or an error happens along the way, it can make an impact on both patients and workers. Insurance claims can end up delayed, or incorrect billing statements can create payment discrepancies, both ending up as costly mistakes.
Additionally, the amount of information has increased massively over the last three years. Processing this data can quickly become an overwhelming task. With the large influx of new patients thanks to the ongoing pandemic, workers are becoming burnt out by the long hours of repetitive work. These workers are leaving jobs faster now than ever, leaving that additional burden to whoever is left.
But technology struggles to create efficiency in healthcare. With so many disparate systems and so much critically sensitive data, it's not as if the solution lies in a simple re-platform. Healthcare teams are, for the most part, stuck with processes they have in place now, and can only optimize within those parameters with new software solutions – there is simply not getting around the red tape and tedious processes themselves.
According to a study performed by Oracle, 40% of the healthcare executives surveyed said their systems aren’t designed to fit the specific needs of the healthcare industry.
The last few years have made a massive impact in the healthcare industry. The COVID-19 pandemic brought with it an extreme increase in patients, reduced staffing, and created complications with implementing new protocols, which exacerbated existing issues within the system.
It’s no secret that the healthcare industry is notoriously short-staffed before the pandemic, and since the onset of these problems, that issue has been exacerbated. Since February 2020, one in five healthcare workers have quit their jobs, and healthcare employers are down half a million workers according to Altarium.
Even with sufficient staffing, there are often issues that come along with how data entry tasks are performed and processed. Issues oftentimes come from archaic, disparate systems that don’t communicate with each other.
Crucial data is sometimes fragmented and spread across several different parts of an organization, such as lab data, electronic health records, financial systems, and hospital systems. Trying to unite these systems under one umbrella and streamline those processes has proven to be a difficult task, until recently.
Using robotic process automation (RPA), a healthcare provider can instead choose to make this process completely automated by a digital worker. RPA, in layman’s terms, is automation software that is custom-tailored to handle repetitive or mundane tasks that don’t require human judgment or creativity, but rather, a set of logic-based conditions that are almost always the same. It can perform work around the clock, and carry out repetitive tasks that follow a specific set of rules or workflow.
RPA is quickly becoming a key tool for businesses in the digital age. It’s proven to save up to 90% of a workforce’s time, allowing leaders to reassign their employees to work on more high-value tasks, such as insurance claim denials, customer service, and more.
Businesses and healthcare organizations are getting more out of automation than ever before. Thanks to the democratization of automation technology, even mid-size organizations are now able to access the same custom automation solutions that enterprises use to process millions of terabytes of data.
When it comes to data in the healthcare industry, privacy and security is essential. RPA solutions are as secure, private, and compliant as the processes they’re built off of.
Because these digital workers are designed to work within your existing software and follow your processes exactly, they keep patient information private and secure. Everything is kept within your organization’s own ecosystem.
I’ll dispel some myths about joining an early-stage company and shed some light on why I decided to join Thoughtful Automation.
Read ArticleAutomation is deflationary, and creates new types of jobs that are better suited to how humans prefer to work. In this economy, it's the quickest answer to inflation.
Read ArticleAutomation benefits organizations at a worker and company level, increasing productivity while freeing up humans to do work that matters more.
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