Now is the time: embracing intelligent automation in healthcare
Intelligent automation is the combination of artificial intelligence, machine learning, and process automation healthcare organizations can use to create smart business processes and workflows that think, learn, and adapt on their own. By applying intelligent automation, these companies can increase efficiencies and tap into capabilities that stretch beyond what was previously humanly possible.
The effects of intelligent automation on the healthcare industry in the years to come is exciting. Just as intelligent automation has transformed the financial services industry – virtually eliminating the need for consumers to physically visit their banks – it is expected to radically reinvent healthcare. In addition to creating new patient experiences where more care will be delivered virtually, intelligent automation promises to generate more data that can be used to create improve care outcomes.
Life sciences companies have already discovered the value of intelligent automation, as nearly one in three have already adopted the technology. More pharmaceutical companies are ready to jump on the bandwagon as well, with the life sciences intelligent automation market expected to grow 50% to 60% annually through 2023.1
Life sciences companies can tap into intelligent automation to improve processes in all business areas including discovery and research, development, manufacturing, sales and marketing, supply chain and distribution. The companies have already used intelligent automation for drug discovery and research, aiding DNA/RNA genomic sequencing and the identification of biomarkers. When deployed in drug and product development, the technology can assist with patient recruitment and medical device performance monitoring.2
Intelligent automation also offers plenty of possibilities for healthcare payers. Consider the following: 50-70% of the tasks involved in an insurance claim settlement are repetitive. A bot deployed to automate this claim settlement cycle can make it possible to automatically:
- Extract claim information received from multiple sources, in multiple formats
- Identify exceptions or validate claims through configurable rules
- Recognize fraudulent cases
- Cognitively learn about relevant claim cases
- Process claims by integrating the automation system with appropriate departments3
Healthcare provider organizations also can tap into the power of intelligent automation, leveraging it to streamline patient appointment scheduling and onboarding; bring efficiencies to the discharge process, and better manage the supply chain.
While the possibilities for intelligent automation loom large, the immediate goal for healthcare organizations is to find a way to strategically deploy this technology to bring about the improved clinical experiences, administrative efficiencies, and better claims outcomes.
1. Microsoft. Democratization of automation, post-pandemic | HCL Technologies. https://www.hcltech.com/webinars/digital-processoperations/democratization-automation-post-pandemic
2. Automation Anywhere. Advancing Life Sciences with Intelligent Automation. https://www.automationanywhere.com/lp/intelligent-automation-in-life-sciences
3. Daffodil. Intelligent Automation in Healthcare: Applications and Benefits. https://insights.daffodilsw.com/blog/ intelligent-automation-in-healthcare-applications-and-benefits#:~:text=Intelligent%20Automation%3A%20 Applications%20for%20Healthcare%20Payers%20Here%20 are,to%20the%20seamless%20functioning%20of%20a%20 healthcare%20system
Healthcare & Life Sciences