Financial management plays a pivotal role in ensuring the sustainability and growth of any organization. Among the various financial processes, managing accounts receivable (AR) has proven to be a challenging task for all types of industries. When it comes to healthcare it gets even more important since it is connected to a patient's medical needs.
The traditional manual approach to AR management in healthcare often leads to inefficiencies, errors, and delays in payment processing. However, with the growth of technologies like AI, RPA, and Machine learning, the healthcare industry is witnessing a transformative shift towards accounts receivable automation.
At Droidal, we aim to help healthcare facilities and patients by automating the accounts receivable process with the help of our RPA bots. By doing so the management can complete the accounts receivable process with ease.
What is RPA?
RPA is nothing but the process of designing, developing, and implementing software bots to automate the repetitive tasks in a workflow. Since the accounts receivable process consists of a lot of data fetching from healthcare facilities and insurance companies, many repetitive tasks can be automated.
Droidal specializes in creating such software robots to automate the various tasks in a healthcare facility. Here’s how we automate the accounts receivable process with the help of RPA.
Identify Repetitive Tasks:
Our experts identify repetitive and rule-based tasks within the accounts receivable process that are prone to human error or time-consuming.
Data Extraction:
The next process is to implement RPA bots to extract relevant data from various sources such as invoices, purchase orders, and payment receipts. Bots can be trained to recognize and extract information from structured and unstructured data.
Invoice Processing:
We use RPA to automate the creation and distribution of invoices. Our Bots can generate invoices based on predefined rules, send them to customers via email, and update the accounting system.
Data Validation and Entry:
Our RPA bots can be employed to validate and enter data into the accounting system. Our software bots cross-verify information, reconcile discrepancies, and update records in real-time.
Payment Processing:
You can automate the handling of incoming payments by integrating RPA with payment processing systems. Bots can match payments with corresponding invoices, update payment status, and flag any discrepancies for further review.
These are not just the things our bots can do. We can customize and train our bots according to your requirements. We also have a subscription-based RPA model, that allows healthcare facility to automate their process in a quick time. Contact us today to get a free PoC!
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