• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to secondary sidebar
  • Skip to footer
  • Home
  • Subscribe
  • Your Membership
    • Edit Your Profile
  • Services
    • Advertising
    • Case studies
    • Design
    • Email marketing
    • Lead generation
    • Magazine
    • Press releases
    • Publishing
    • Sponsored posts
    • Webcasting
    • Webinars
    • White papers
    • Writing
  • Shop
    • My Account
    • Cart
  • About
    • Contact
    • Privacy
    • Terms of use
  • Events

Robotics & Automation News

Market trends and business perspectives

  • News
  • Features
  • Sections A-Z
    • Agriculture
    • Aircraft
    • Artificial Intelligence
    • Automation
    • Autonomous vehicles
    • Business
    • Computing
    • Construction
    • Design
    • Drones
    • Economy
    • Energy
    • Engineering
    • Environment
    • Health
    • Humanoids
    • Industrial robots
    • Industry
    • Infrastructure
    • Investments
    • Logistics
    • Manufacturing
    • Marine
    • Material handling
    • Materials
    • Mining
    • Promoted
    • Research
    • Robotics
    • Science
    • Sensors
    • Service robots
    • Software
    • Space
    • Technology
    • Transportation
    • Warehouse robots
    • Wearables
  • Video
  • Webinars
  • White papers
  • Press releases
  • Featured companies
    • AMD Xilinx
    • BlueBotics
    • Elite Robot
    • RGo Robotics
    • SICK Sensor Intelligence
    • Vicor Power

Robotic process automation can drive billion-dollar savings in healthcare, says Alsbridge

April 25, 2016 by Abdul Montaqim

Advisory company Alsbridge predicted that deploying smart robots to improve the efficiency of claims processing could generate billion-dollar savings for the healthcare industry. 

“Robotic process automation (RPA) offers a cost-effective strategy to significantly increase the rate of healthcare claims automation and drive cost savings,” said Rod Dunlap, a director in Alsbridge’s RPA practice.

“Insurers struggling to update aging, inflexible legacy systems or grappling with the price tag of new technology platforms now have an alternative option.” 

RPA applications use rules-based logic to automate the review and resolution of common claims issues. Because they run as allocated resources on local servers and have minimal impact on underlying infrastructure, RPA tools can operate as an extension of existing adjudication systems.

Cost is another advantage – a digital robot that replaces 5 to 10 human claims processors costs as little as $10,000 to $15,000 a year, which includes license fees, deployment and maintenance.

Additionally, robotic automations can be developed, implemented and operational in a matter of weeks, providing the flexibility needed to adapt to frequent changes required by mandates and regulations.

“We have helped health insurers use RPA to extend the functionality of existing adjudication platforms and increase auto-adjudication by more than 10 percentage points,” says Dunlap. “This represents a significant reduction in administrative expense for individual health insurers as well as for the industry as a whole.”

According to America’s Health Insurance Plans (AHIP), a national trade association representing the health insurance industry, approximately 80 percent of healthcare claims are now processed automatically.

A claim requiring human intervention costs approximately $4 to process, while an auto-adjudicated claim costs approximately $1. Alsbridge, meanwhile, has found that the cost-per-claim with RPA systems can be as little as $1.25.

Considering that more than 3 billion healthcare claims are filed each year, applying RPA to extend auto-adjudication rates by an additional 10 to 12 percent can generate savings well in excess of $1 billion.

Health insurers have long recognized the cost-saving opportunity of increased automation, and have adopted various strategies to reduce human intervention in claims processing.

One option is to add functionality to existing, decades-old auto-adjudication platforms. Modifying fragile legacy systems, however, is extremely costly and cumbersome.

Moreover, constantly changing regulations and insurance guidelines mean that system modifications can be out of date by the time they’re implemented.

An alternative approach is to invest in new auto-adjudication platforms that are more agile and effective. These new platforms, however, can be cost prohibitive and can take several years to implement.

“Health insurers have traditionally been torn between limping along with obsolete and aging technology, or investing in excessively expensive new platforms,” said Dunlap. “RPA offers a way to extend the functionality of existing adjudication technology and achieve optimized automation rates.”

Print Friendly, PDF & Email

Share this:

  • Print
  • Facebook
  • LinkedIn
  • Reddit
  • Twitter
  • Tumblr
  • Pinterest
  • Skype
  • WhatsApp
  • Telegram
  • Pocket

You might also like…

Filed Under: News Tagged With: alsbridge, auto-adjudication, healthcare, insurers, process, robotic, robotic process automation, rpa

Join the Robotics & Automation News community

Primary Sidebar

Latest articles

  • Hesai Technology to provide lidar for planned Cratus warehouse robots
  • Associated Food Stores selects Symbotic to implement warehouse automation system
  • Figure raises $70 million Series A to support commercialization of Figure 01 humanoid robot
  • 3M highlights major global trends in materials science and charts its own way ahead
  • Apex Motion Control launches new collaborative robot
  • Siemens unveils its first virtual PLC and new automation products
  • Yaskawa takes center stage at Africa Automation Technology Fair
  • Bota Systems and Kinova partner for easy installation of force torque sensors
  • Universal Robots executive receives prestigious robotics award for contribution to robot safety
  • What are the Differences between Rapid Tooling and Conventional Tooling?

Most Read

  • Snapchat Plus Planet Order 2023 Explained
    Snapchat Plus Planet Order 2023 Explained
  • Why is Money Important in Our Lives?
    Why is Money Important in Our Lives?
  • Top 20 electric vehicle charging station companies
    Top 20 electric vehicle charging station companies
  • Difference Between Three-Phase and Single-Phase Power
    Difference Between Three-Phase and Single-Phase Power
  • How to Track a Phone Number on Google Maps
    How to Track a Phone Number on Google Maps
  • Why is My Car Key Stuck in the Ignition?
    Why is My Car Key Stuck in the Ignition?
  • Scientists have found more water in space than they ever knew possible
    Scientists have found more water in space than they ever knew possible
  • Deep Robotics unveils new four-legged robot
    Deep Robotics unveils new four-legged robot
  • Top 20 programmable logic controller manufacturers
    Top 20 programmable logic controller manufacturers
  • The Future of Personal Computers: What to Expect in the Next Decade
    The Future of Personal Computers: What to Expect in the Next Decade

Overused words

ai applications automated automation automotive autonomous business companies company control customers data design development digital electric global industrial industry logistics machine manufacturing market mobile operations platform process production robot robotic robotics robots safety software solution solutions system systems technologies technology time vehicle vehicles warehouse work

Secondary Sidebar

Latest news

  • Hesai Technology to provide lidar for planned Cratus warehouse robots
  • Associated Food Stores selects Symbotic to implement warehouse automation system
  • Figure raises $70 million Series A to support commercialization of Figure 01 humanoid robot
  • 3M highlights major global trends in materials science and charts its own way ahead
  • Apex Motion Control launches new collaborative robot
  • Siemens unveils its first virtual PLC and new automation products
  • Yaskawa takes center stage at Africa Automation Technology Fair
  • Bota Systems and Kinova partner for easy installation of force torque sensors
  • Universal Robots executive receives prestigious robotics award for contribution to robot safety
  • What are the Differences between Rapid Tooling and Conventional Tooling?

Footer

We are…

Robotics and Automation News was established in May, 2015, and is now one of the most widely-read websites in its category.

Please consider supporting us by becoming a paying subscriber, or through advertising and sponsorships, or by purchasing products and services through our shop – or a combination of all of the above.

Thank you.

Independent

Archivists

April 2016
M T W T F S S
 123
45678910
11121314151617
18192021222324
252627282930  
« Mar   May »

Complex

Old-skool

This website and its associated magazine, and weekly newsletter, are all produced by a small team of experienced journalists and media professionals.

If you have any suggestions or comments, feel free to contact us at any of the email addresses on our contact page.

We’d be happy to hear from you, and will always reply as soon as possible.

Future-facing

Free, fair and legal

We support the principles of net neutrality and equal opportunities.

Member of The Internet Defense League

Copyright © 2023 · News Pro on Genesis Framework · WordPress · Log in

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
Do not sell my personal information.
Cookie SettingsAccept
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
SAVE & ACCEPT