Assessing the Long-Term Benefits of Automated Remittance in Large Healthcare Networks

Ritesh Chaturvedi; Saloni Sharma

doi:10.55544/jrasb.1.5.25

Authors

Ritesh Chaturvedi Independent Researcher, USA.
Dr. Saloni Sharma Independent Researcher, USA.

DOI:

https://doi.org/10.55544/jrasb.1.5.25

Keywords:

Automated Remittance, Healthcare Networks, Financial Management, Revenue Cycle, Cost Savings, System Integration, Payment Processing

Abstract

This paper aims at reviewing the strategic advantage of automated system of remittance in extensive network of healthcare institution in terms of cost-effectiveness and efficient financial operation. Quantitative data of various healthcare organisations’ financial performance are also combined with qualitative data collected from multiple stakeholders of the organisations. These findings reveal that mechanized staying remarkably decrease the significant expenses, increases the payment cycle by as much as 40% and optimize sojourning receipts. The work also reveals the issues of linking, functioning, and updating of automated systems with existing IT equipment. Nonetheless, based on these difficulties, the study implies efficiency of applying automation in large healthcare networks to maximize the overall returns and fix costs in the long run. This study shows the generality of automation in healthcare finance and lays a context for more extend the automation to small healthcare facilities and introducing more elements of technologies such as the AI.

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