HFMA interview with Matt Seefeld
How can we can inspire our revenue cycle employees to be the best they can be at their jobs? Matt talks about strategies for RCM retention.
Weekly thoughts on how to leverage technology in your healthcare organization to reduce labor costs, increase net collection rate, and maximize margin.
Effective Intelligence is all about reducing your dependence on labor in the revenue cycle while ensuring the medical billing and front office staff you do need are working effectively and generating the expected revenue to increase your margin with the least amount of work effort. MedEvolve is an effective intelligence company.
How can we can inspire our revenue cycle employees to be the best they can be at their jobs? Matt talks about strategies for RCM retention.
Combined practice management & electronic medical record software may not be the best choice. Doctors & financial team have difference needs.
Phone calls, emails, notes, spreadsheets, task lists – all communication that should be centralized, archived on the claim, and reported as touches. How many “touches” does it take to get a particular claim paid? An important metric for controlling labor costs.
What if you could individually recognize, reward, & retain your best front office & medical billing employees? Would you still outsource?
We need to measure revenue cycle employees in an objective way, and set goals with them, so they can compete against themselves and become more effective.
Medicare cuts, increased supply chain prices, declining reimbursement are uncontrollable. Work on what you do have control over. Labor!
Reimbursements are flat or declining, and costs are increasing. The negative economic factors that your healthcare organization can’t control can be offset with centralized workflow & real-time analytics added to your practice management system.
Being a vendor can be very frustrating too. For example, when we go in and sell, it’s a very consultative sale. We do not make the promise that by just installing this technology, that you’re going to get results. You have to be willing to look at guess what people in process and how that aligns with the technology I’m selling you to get the result.
Measuring number of claims worked or measuring work effort & successful outcomes? What should healthcare executives focus on with RCM labor?
Give your RCM staff work/life balance by measuring effectiveness not productivity, establishing clear goals & incentivizing top performers, and tie it to a reward system that creates the recognition that this new generation of the workforce needs to have.
Reduce RCM labor dependence with financial clearance, insurance A/R, & patient A/R automation modules with real-time analytics.
Increase productivity and simplify front & back office processes while keeping your staff focused with our flagship PM system.
MedEvolve transforms revenue cycle by improving lagging metrics with leading indicators that improve visibility, prediction, and performance.
MedEvolve CEO Matt Seefeld breaks down where these leaks happen and how providers can seal them off.
Discovery Behavioral Health improved revenue cycle efficiency and margins by partnering with MedEvolve to implement AI-powered automation and analytics. This reduced administrative waste, decreased avoidable touches by over 60%, increased
Discover how reducing avoidable touches in insurance claim processing can cut costs, free up labor capacity, and boost revenue cycle efficiency—saving organizations hundreds of thousands annually.
