ONQ casts a spotlight on an innovative approach to medical billing that not only addresses the pressing issues faced by medical billing companies but also stands as a testament to the transformative power of Robotic Process Automation (RPA).
The Case Study: ONQ’s RPA Solution
Medical Billing Companies often grapple with the challenges of a burgeoning number of claims and the need to streamline the billing process. The solution? Implementing an “automated workforce” with RPA technology. This case study centers around how ONQ’s RPA solution helped our client MPP consolidate claims, reduce electronic denials and significantly boost revenue intake.
MPP is a medical company dedicated to providing patient care with the utmost efficiency in insurance claim processes. However, the company faced a unique challenge in the aftermath of the global events of 2020. An unexpected reduction in their workforce led to a substantial drop in collections, severely affecting their revenue cycle systems and processes.
Issues and Challenges
MPP’s challenges were twofold. First, they grappled with the lack of a workforce capable of handling the increasing number of claims they were receiving. Second, the absence of automated work processes for manual tasks compounded their problems.
MPP had a team of five full-time employees (FTEs) responsible for sending claims. These claims required patient insurance information verification on two different websites. The manual processes included verifying claim activity, creating claims, and submitting them to insurance companies. With one FTE processing approximately eighty claims in an -hour shift, the team of five FTEs could only send an average of four hundred claims per week.
ONQ stepped in with a comprehensive revenue cycle transformation plan that aimed to improve all aspects of MPP’s operations.
Team Optimization: ONQ’s solution began by optimizing the existing workforce. With the introduction of automation, one FTE’s productivity surged from processing 80 claims in an eight-hour workday to an impressive 192 claims. This optimization greatly reduced the need for a large workforce.
QBot Implementation: The introduction of ONQ’s Qbots was a game-changer. Claim submission skyrocketed, going over 100 times its previous rate.
Increased Production: The Qbots were quick to prove their worth, sending approximately 25,000 claims per day, resulting in a significant increase in weekly claims production of 175,000 claims when operating at full capacity.
24/7 Operation: One of the RPA’s advantages is its ability to operate around the clock. With one bot processing 24 claims in an hour, MPP could ensure continuous operation, processing a staggering 576 claims in a 24-hour shift.
The implementation of ONQ’s RPA solution marked a pivotal turning point for MPP. Not only did it address the core issues of workforce limitations and manual processes, but it also delivered impressive results.
Reduced Claim Denials: MPP’s clients no longer had to wait extended periods for insurance claim reimbursements. The reduction in claim denials was a substantial benefit for the company, enhancing their clients’ satisfaction.
Improved Efficiency: ONQ’s solution significantly increased the overall production, allowing MPP to streamline their operations and reduce the FTE count.
Cost Savings: The implementation of RPA technology saved MPP a significant amount by reducing the need for an extensive workforce.
The MPP case study involving ONQ’s RPA implementation demonstrates the potential of cutting-edge technology in the healthcare industry. By addressing workforce limitations, introducing automation and optimizing existing processes, medical billing companies’ and hospitals, physician groups and clinics, imaging centers and radiology groups can revolutionize their operations with increased revenue and enhanced satisfaction of their clients and staff.
ONQ’s success in this study serves as an inspiring example of how innovative solutions can reshape an industry and promote efficiency, productivity and cost savings.
ONQ – Advancing Labor and Technology Solutions in Healthcare