CoSourcing Partners is honored to be awarded Top Healthcare Services Company 2021 by CIO Applications. This award and recognition is given out each year to only 10 companies that are at the forefront of providing Healthcare consulting/services and transforming businesses.
The Next Wave of RPA in Healthcare
As a leading Robotic Process Automation and IT Services Company, we take great pride in our healthcare practice and commitment to deliver excellence to each of our clients.
“Our mission simply put is to transform our customers strategic vision into guaranteed business results,” says Scott Upp, Managing Director at CoSourcing Partners.
Since its inception, CoSourcing Partners has matured into a boutique healthcare solutions and services provider. The Company offers extensive business services that range from digital transformation (RPA/AI/ML/IoT) to Strategic IT Services that include consulting, staff augmentation, and placement services. As technologies such as RPA, AI, ML, and IoT become pervasive within the healthcare industry, companies are competing to develop innovative solutions that can improve the quality, accuracy, and efficiency of their operations. Many healthcare companies are trying to adopt these technologies in pursuit of innovation and technologically advanced solutions that will enable payors and providers to provide patients with faster and more accurate services. Health Plans and Hospitals are filled with siloed processes. To achieve the process efficiencies necessary to drive down the overall cost of healthcare, both payors and providers will need to strategically implement Intelligent Automation.
However, this adoption is hindered by unique challenges. The complexity and volume of these processes and systems contribute to rising healthcare costs—and at least 70 percent of them can be developed cheaper, faster, and more effectively with the use of RPA leveraging the UiPath Hyperautomation Platform. Some companies struggle to find insights, resources, and the necessary automation know-how that brings innovation to life. Payors and providers in the healthcare vertical need a partner, like CoSourcing Partners, that can help them successfully augment their RPA capabilities to improve client satisfaction, cost avoidance and maximize each investment to ensure their vision becomes an operational reality.
CoSourcing Partners has over a decade of experience working with the industry’s leading healthcare technology companies. By specializing in this space, the Company is deeply committed to data integrity and understands concerns for safeguarding customer data. That’s why CoSourcing Partners provides customers with the confidence and security by operating out of its SSAE16 Type II compliant data center. CoSourcing Partners uses industry-best practices in automation, cloud computing, data processing, and AI to deliver the most secure, high-performance platforms possible.
As a UiPath Gold Partner, CoSourcing Partners takes a collaborative partnership approach, working side-by-side with clients to deliver both industry-leading professionals and solutions.
“We learn your business and seamlessly integrate with your team so that together we can put digital transformation at your company’s core and drive sustainable, profitable growth. From ideation to implementation, we’ll assist every step of the way,” emphasizes Upp.
For payors, system migrations, yearly benefit enrollment, complicated benefits, regulatory changes, fee schedule increases/decreases, and provider data management creates costly processes. A lack of provider data integrity, efficiency, and responsiveness can result in increasing costs and rising adjudication rates. Prime candidates for automation include:
• Member Enrollment & Inquires
• Claims Processing
• Fraud Detection
• Provider Data Management
• Testing and Quality Control
As patient numbers grow, healthcare providers are challenged with optimizing revenue management, managing levels of inventory, supporting digitization of patient files, optimizing appointment scheduling, and executing billing and claims processing. To help overcome these operational pain points, more and more healthcare providers are embracing RPA to alleviate these challenges and drive efficiency and growth. Healthcare is predicted to have a 36percent automation potential. Some primary functions that can be improved through RPA include:
• Patient Onboarding
• Patient Inquiries
• Revenue Management
“At CoSourcing Partners, we are different. We use what we sell. Taking advantage of UiPath RPA and AI, we have built automations that increased our internal productivity weekly by 144 percent. This equates to 24,000 extra hours a year in additional worker productivity, improved service, quality, and efficiencies,” remarks Upp. Like all businesses, CoSourcing Partners has trained its team to do more with less. “We are experts in enabling customers to maximize their automation investment while achieving their automation potential and realizing a rapid return on investment,” Upp notes.
As the first (USN) UiPath Certified Professional Services Partner, CoSourcing Partners is introduced to UiPath prospects and customers as a highly-skilled USN Partner – aligned with UiPath and supported by UiPath. The Company cuts out high-volume, low-value, repetitive tasks to maximize potential and productivity in human labor, improve claims cycle time by up to 80 percent, improve cost savings by up to 70 percent, improve cash flow by up to 30 percent, and reduce employee churn by up to 25 percent. Existing customers can realize ROI as high as 180 percent in the first year.
The shift to intelligent automation coincides with healthcare’s willingness to take full advantage of the potential of RPA/ML and AI technologies.
Click here to read our feature in the CIO Applications special edition on Healthcare.