Harnessing Automation in Healthcare: Natasha Schlinkert on the Future of RCM with InnoBot
In a recent episode of the podcast Vital Conversations, hosted by Tim Coan, Natasha Schlinkert, CEO of InnoBot, shared her extensive insights on healthcare revenue cycle management (RCM) and the transformative role that automation plays in this sector.
Understanding InnoBot
With nearly three decades of experience in RCM, Natasha Schlinkert offers a comprehensive perspective on the complexities of healthcare billing. InnoBot was established to address these challenges, striving to integrate robotic process automation (RPA) in a way that streamlines processes and enhances operational efficiency for healthcare providers.
The Journey to Effective Automation
Natasha recounted her early experiences with automation, which initially ended in failure. This was largely due to a disconnect between the demands of healthcare processes and the technological solutions being implemented. She noted, “Bots themselves don’t break; the logic we feed them may be broken.” This realization led her to develop a more nuanced approach to automation that factors in the unique intricacies of healthcare workflows.
Through persistence and learning from past mistakes, InnoBot has successfully automated various revenue cycle processes, delivering impressive results—including more than $1.3 billion in increased revenue for clients over 18 months. The essence of their success lies in the collaboration between RCM professionals and automation specialists, ensuring a deep understanding of operational workflows.
Advantages of RPA in Revenue Cycle Management
Natasha highlighted several key areas where RPA can significantly enhance RCM, including:
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Claim Status Updates: Automating the retrieval of claim statuses can alleviate administrative burdens and improve operational flow.
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Eligibility Verification: RPA streamlines the process of checking patient eligibility, particularly for Medicare and Medicare Advantage plans, ensuring claims are submitted correctly.
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Authorization Management: From request submissions to checking statuses, automation simplifies and accelerates these critical steps in the RCM process.
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Payment Posting: Automating the posting of payments and denials minimizes backlogs and reduces chances for errors.
Challenges and Future Potential
While automation holds substantial promise, Natasha acknowledged that not all aspects of RCM are easily automated. Tasks such as making phone calls or processing handwritten documents remain challenging due to current technological limitations. However, there is optimism regarding forthcoming advancements in artificial intelligence that may soon address these issues.
Conversely, she pointed out that some automated tasks are often underestimated. For instance, InnoBot has successfully trained bots to read various formats of documents without extensive preparation, a testament to the evolving capabilities of automation technologies.
Balancing Technology and Human Expertise
A critical takeaway from the discussion was the need for a balance between technology and human oversight. While RPA can handle a significant portion of routine tasks—achieving success rates of up to 93% without needing human intervention—the presence of experienced professionals is still essential for dealing with exceptions and resolving complex situations.
Explore InnoBot’s Solutions
For those interested in exploring how automation can enhance their revenue cycle operations, Natasha encourages open dialogue. InnoBot can be reached by phone at 888-341-1009 or through their website, https://innobothealth.com/, where potential clients can learn more about their innovative approach to healthcare revenue cycle management.
The Future of Revenue Cycle Management
By leveraging technology and fostering collaboration between domain experts and technologists, InnoBot is setting a new standard for efficiency in the healthcare industry. With leaders like Natasha Schlinkert at the helm, the future of revenue cycle management looks promising, paving the way for advancements that can ultimately benefit providers and patients alike.
