Revenue Cycle Management (RCM) Automation refers to the use of technology and software solutions to streamline and optimize the financial processes in the healthcare industry. It involves automating various administrative and financial tasks, such as patient registration, billing, coding, claims processing, and payment collection, to improve the efficiency and accuracy of revenue generation and collection. Read this presentation to know more.

1. Decrease Administrative Burden
in RCM with Automation
What is Revenue Cycle
Management(RCM)
Automation?
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What is Revenue Cycle Management?
2022 2023 2028
REVENUE CYCLE MANAGEMENT MARKET
GLOBAL FORECAST TO 2028 (USD BN)
North America Europe Asia Pacific Latin America Middle East & Africa
11.1%
44.9
49.6
84.1
CAGR OF
11.1%
The global revenue cycle
management market is
expected to be worth
USD 84.1 billion by
2028. Growing at a
CAGR of 11.1% during
the forecast period

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Challenges with Revenue Cycle Management?
Revenue Cycle Management
(RCM) is a multifaceted process
that poses various complexities
and challenges. These challenges
can significantly affect the
financial well-being and
operational effectiveness of
healthcare organizations. Some of
the primary hurdles in revenue
cycle management include:
Billing & Coding Errors
Slow Reimbursement
Cycles
Claims Denials &
Rejection
Compliance &
Regulatory Changes
Inefficient Manual
Process
Data Verification

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How RPA and AI Help in Revenue Cycle Management?
Robotic Process Automation (RPA)
and Artificial Intelligence (AI) play
significant roles in transforming
Revenue Cycle Management
(RCM) by streamlining processes,
reducing manual intervention,
improving accuracy, and
optimizing overall efficiency. RCM
processes that RPA can automate
are-
Claims Processing &
Adjudication
Claims Denials
Coding & Billing Patient Billing
Eligibility Verification
Payment Posting &
Reconciliation

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Tips to Implement Automation in Revenue Cycle Management?
A series of steps need to be
followed by healthcare providers
before implementing automation
in revenue cycle management.
And these steps are-
1. Set Clear Objectives
4. Developed a
Detailed
Implementation Plan
2. Choose AI Tools
5. Seek Expert Advice
3. Collaborate with
Stakeholders

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AutomationEdge is a leading Hyperautomation platform across the globe with end-to-end automation capabilities. With its platforms working together as one
solution, like DocEdge for Intelligent Document Processing Solution, RPA for automation of repetitive processes and fastest data processing, and Conversational AI
for Omni-channel conversations, it has enabled seamless process automation for global enterprises.
AutomationEdge has already delivered its innovative solution to large multinationals globally like American Express, Smart Dubai Government, Oman LNG, Mashreq
Bank, HDFC Bank, HDFC Life, Bharti Axa, Wipro, AccentCare, Danone, University of Maryland Medical System, Aspen Pharmacare and Genpact, to name a few.