Healthcare Payers and Providers around the globe have embarked on various digital transformation initiatives over the past few years, by leveraging technologies such as Cloud, Analytics, AI/ML, Automation, etc. However, the success of these initiatives has been impeded by inherent challenges such as interoperability, data privacy, legacy technologies, etc. But Robotic Process Automation (RPA) has been a shining beacon across the Healthcare value chain, where it has been adopted and implemented widely across various processes. Hence, Healthcare players have experienced reduced cost, increased productivity, higher accuracy, enhanced revenue management, and improved patient as well as employee experience.
The healthcare payers are facing a unique set of challenges compared to healthcare providers. Though the number of COVID-19 related claims rose in number, it had a minimum impact on the financial performance of payers. This is due to a decrease in the non-essential and elective procedures across hospitals. Also, the payers are drawing up plans to comply with the changing regulatory environment, especially around interoperability. This is where digital transformation across the Healthcare value chain will play an essential role, with Automation at its core, especially in the post-COVID reality.