The first post in my new series on the top myths around robotic process automation (RPA) busted the biggest myth in the RPA biz. This time I’m singling out the top five benefits leaders in healthcare and beyond can expect from RPA implementation by way of another major myth surrounding the technology: cost-savings.
Is it all About the Benjamins?
Many people believe that RPA is mostly driven by cost-savings. And, it’s true – cost reduction is one of the biggest benefits of RPA. In fact, it’s not unheard of for some organizations to realize ROI as high as 200% in the first year of implementation! However, cost savings are only one of several key benefits of RPA.
Here’s four more key benefits worth mentioning:
Relief from Routine, Repeat Work
Let’s face it: High-volume, routine, data-focused work is not humanity’s forte. We don’t like it, we’re prone to errors and we do eventually need to stop for sleep, food and companionship. Software bots, however, have none of those hang-ups. Freed from low-value, tedious tasks, human workers can dedicate time to the kind of higher-value, complex and/or creative work we enjoy and excel at. Everybody wins!
Better Patient Experiences & Outcomes
In healthcare, there’s nothing more important than these two goals and RPA is capable of significantly improving both. As bots remove some of the admin workload of clinical providers, these nurses and physicians are able to devote more time and attention to patient care and advocacy. Better outcomes can also be supported by RPA via stronger adherence to standardized care plans, courtesy of automated reminders and alerts. RPA-driven improvements in quality, speed and accuracy in care settings can make a life-saving difference. One study found that increased automation of medical records and documentation in hospital stays led to a 15% decrease in the odds of in-patient deaths.
Superior Compliance Capabilities
For low-skill, process-driven tasks, RPA can’t be beat in terms of speed and accuracy. This is a particularly useful attribute as it applies to compliance initiatives where the stakes are high and there’s little room for error. Just ask the pharma company that avoided a $100,000 per incident fine thanks to an RPA bot that kept them in compliance with the Physician Payment Sunshine Act.
Ease of Use
Thanks to technology that doesn’t require any major IT architecture changes or deep integrations with underlying systems, the usability bar for RPA is low. Because it is also highly scalable and flexible, it is also easier and faster than scaling a workforce as patient volume fluctuates.
There’s More Where That Came From!
The key benefits of RPA hardly stop there. If you’re interested in learning more about how RPA technology could benefit your organization (healthcare or otherwise!), check back for the next post in this series on the top myths around RPA –or cut to chase right now and download my latest eBook to get full details today.