Cut costs and save time from the front office to the back

This bot is designed to select random patients for each provider in a specified time period and audit activity statements to make sure they are fully complete and uniform.

After Primary and Secondary insurances have been paid, this bot applies any applicable Patient Responsibility.

Automating charge or payment posting can offer several benefits. Firstly, automation can increase operational efficiency by reducing the time and effort required to manually process charges or payments to patient accounts. By automating the process, the bot can quickly identify the relevant accounts to post the charges or payments, minimizing errors and speeding up the overall process. Secondly, automation can enhance the accuracy and consistency of financial records by using predefined criteria and rules for charge or payment posting. This can minimize discrepancies caused by manual processing and ensure accurate financial records. Lastly, automation can provide real-time visibility into the financial status of patient accounts, allowing for more effective revenue cycle management. Overall, automating charge or payment posting can save time and resources, while improving accuracy and consistency in financial operations.

Automating Primary Claims Processing in an EHR has several advantages for healthcare providers, including improved accuracy and efficiency in claims processing. By automating this process, healthcare providers can reduce errors and increase productivity, allowing staff to focus on other essential tasks. Additionally, automated claims processing can help providers reduce the time it takes to receive reimbursement for services rendered, improving cash flow, and ultimately leading to better financial outcomes for the organization. Overall, implementing an automated Primary Claims Processing system can streamline operations, reduce administrative burdens, and ultimately improve patient care and products for the organization.

Claims processing is undergoing a seismic shift due to automation. For example, did you know that McKinsey predicts that by 2025, 25%of insurance and healthcare industry processes will be powered by artificial intelligence, revolutionizing how the industry operates?

Claims processing can help solve one of healthcare providers’ biggest challenges - denied claims. For example, one study found that nearly seven in 10 healthcare providers experienced a jump in denials in 2021.

It's important to note that the exact steps a bot might take can vary depending on the specific electronic prescribing and medication management software and the healthcare provider's workflows. Additionally, while the bot can perform many of the medication management tasks, some actions may require human intervention and oversight, especially in complex cases.

Once claims are identified as Paid, the bot will find the EOB/EOP, navigate to the patient record in the EMR system and update the patient ledger.

Verifying Medicaid eligibility can be tedious, costly and error prone. It doesn’t have to be. For mission-driven healthcare organizations, every minute and dollar saved in the back office is a minute and dollar that can instead go towards providing excellent patient care.

Regularly checking Medicaid eligibility, especially for healthcare organizations with a large population of recurring patients, is one of many administrative tasks that keep providers away from their mission-oriented work – caring for patients. The good news: this tedious process no longer requires a human brain to perform. Our bots can be trained to log into any website and any EHR or CRM to identify patients that require an eligibility check, subsequently perform that eligibility check within the State’s Medicaid portals, and then make the corresponding updates in the system of record.

Looking at labor costs alone, hiring a claims analyst to perform this task could cost as much $2.50 per record*. For a bot performing the exact same task, it could cost you less than a dollar per record, and it will be processed in a fraction of the time. And that labor cost isn’t including the high cost of turnover in this industry and the associated productivity dip as new hires are onboarded and trained. A bot only needs to be trained once, and can handle a near infinite workload without ever needing to take a weekend or even a break. Humans are also, well, human. Mistakes in processing claims can be a huge hit to your organization at a time when efficiency is everything. Bot a bot will do exactly what it is trained to do with perfect accuracy - it doesn’t even know how to deviate.

The labor market is tightening across all industries, and the healthcare industry is of course not immune. With the pandemic, national nursing shortage, and more, budgets are tightening to ensure that the top priority – patient care – doesn’t fall victim to the economic dips. On top of that, the federal Public Health Emergency is on it’s way out in 2023, including continuous coverage. To ensure patients continue to receive the care they need, there will be a huge bolus of work to check and recheck their Medicaid eligibility. Now is the time to invest in tools that will help your team improve the efficiency of back office operations, freeing up your team to focus on patient-facing engagement.

Automating your eligibility verification processes with Thoughtful is quick and easy; no technical experience required. You walk us through your unique requirements, and we’ll build a fully custom bot that will start delivering real value within 6-8 weeks. With just a small lift from your team, you’ll start seeing massive cost savings, up to a 10-fold improvement in OpEx, virtually perfect output, and a happier human workforce. Let us do the heavy lifting so you can continue to focus on delivering exceptional patient care.

Working with Thoughtful can have several advantages when it comes to medical coding. Firstly, it can increase productivity and efficiency by reducing the time and effort required to manually assign medical codes to patient records. Automation can streamline the process by using machine learning algorithms to quickly identify and assign the correct medical codes based on the diagnosis and treatment information provided. Secondly, automation can improve accuracy and reduce errors by minimizing the potential for human error in the coding process. This can lead to better patient outcomes and fewer billing discrepancies. Finally, automation can keep up with the ever-changing medical coding landscape by automatically updating codes as new codes are introduced or old codes are retired. Overall, automating medical coding can help companies save time, reduce errors, and improve patient outcomes.

Automating patient collections can bring several advantages to health companies. Firstly, it can improve patient satisfaction by providing convenient and flexible payment options, such as online bill pay or automatic payments. This can help reduce the financial stress and burden on patients and make the payment process more convenient and efficient. Secondly, automation can increase collection rates and reduce collection costs by streamlining the process and reducing the time and resources required for manual collection efforts. This can improve cash flow and revenue cycle management, ensuring that payments are collected in a timely and efficient manner. Overall, automating patient collections can help companies provide a better patient experience, while improving financial performance and reducing administrative costs.

Adopting an automated Patient Eligibility Verification system offered by a company such as Thoughtful has numerous benefits for healthcare organizations. The automation reduces the chances of manual errors, saving time and money, and provides real-time verification for quick and accurate determination of a patient's insurance coverage. Automation reduces administrative tasks for staff, allowing them to concentrate on delivering quality patient care. Furthermore, the technology used by Thoughtful offers up-to-date information on a patient's insurance status, reducing the risk of denied claims and enhancing revenue cycle management. In conclusion, automation of Patient Eligibility Verification improves accuracy, efficiency, and financial stability for healthcare organizations.