3 Long-Term Benefits of Conducting an Operational Assessment

Posted by Amanda Cavanaugh on August 12th, 2022
Author
Amanda Cavanaugh
Amanda is a communications professional and a recent University of St. Thomas graduate. She joined Smart Data Solutions in the summer of 2022 to help the marketing team write and create content as SDS continues to grow. Amanda’s previous experience has helped her to become an expert in writing and to spark a passion for all things creative.

In today’s fast-paced environment, the need for efficient processes is a requirement. Granted, we understand that transforming your operations can be both hard to conceptualize and frustrating to implement.

An operational assessment and workflow audit can help, as this will allow your organization to identify how you measure up and where you can streamline and simplify steps in your workflows. This can be difficult to do internally; therefore, Smart Data Solutions offers a free operational assessment to help you get started. Our assessment and subsequent implementation of automated processes leads to not only cost savings but also cleaner data that supports business decisions and overall organizational process improvement.

Identifying and simplifying problematic aspects of your workflows can save your organization key resources – time and money. By automating many of your manual processes, you will reduce or eliminate human error and save time associated with manual labor, allowing staff to be utilized in different areas that support your organization’s core competencies. According to CAQH, of the $372 billion spent on administrative complexity in the U.S. healthcare system, an additional $16.3 billion could be saved through workflow automation. Another study by McKinsey found that when surveyed, “85 percent of the 25 largest U.S. Payers ranked automation among the highest administrative cost-reduction levers … while 72 percent of respondents agreed that claims processing is the single area where automation could create the greatest impact, the survey confirmed that opportunities are available throughout the Payer value chain and across a broad range of automation technologies.” Smart Data Solutions’ automated machine learning technology can be used for mail processing, data capture, correspondence identification, and more to meet all your business objectives and help realize areas for cost savings throughout your organization.

Smart Data Solutions has over 22 years of experience within the healthcare industry and is consistently finding ways to help Payers automate and save. We will start by evaluating your current processes and identify the bottlenecks holding up your workflows. We then work side-by-side with you and your leadership team to offer viable solutions to those problems. A common issue that we see hold up processing workflows are multiple vendors along with systems that don’t integrate and communicate with one another. Other areas include adjudication issues, lack of insight into workflows, and taxing manual processes that slow down turnaround times. We can help clients to solve these common issues by assisting with vendor consolidation and reducing costs with the use of AI-powered automation technology, thus increasing the speed of auto-adjudication with cleaner data and overall streamlined workflows. These changes lead to increased visibility, quicker turnaround times, and more efficient processes.

3 Long-Term Benefits of Conducting an Operational Assessment 1

It can be difficult to identify revenue gaps on your own and allocate the necessary resources to make effective changes. This is where our expert team comes in. Get in touch with us to start your free assessment today!

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