RevCycle Intelligence Article: A Specialty Group’s Revenue Cycle Automation Journey
Using revenue cycle automation for Columbia Orthopaedic Group, automated financial clearance and A/R workflows have improved efficiency.
Written by our in-house revenue cycle experts, the articles below have been published by various publications and represent 24+ years of expertise.
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.
Using revenue cycle automation for Columbia Orthopaedic Group, automated financial clearance and A/R workflows have improved efficiency.
“The last thing that unemployed people want to do is pay their healthcare bill,” says Matt Seefeld, executive vice president of MedEvolve in Little Rock, Arkansas. “I’m going to pay for the things that keep my family alive. The last thing I’m worried about is that bill from six months ago.”
Matt Seefeld, EVP at MedEvolve explains to HIT Consultant how to understand & improve patient financial clearance process.
Matt Seefeld explains: Tech will replace spreadsheets & manual tasks, engaging with patients at each stage of the revenue cycle is essential.
As a result of our data and the relationship with our RCM vendor, MedEvolve, we have been able to improve functionality and process from the front desk to the back and everything in between. Having actionable data drives our training — it helps us examine why denials are happening and what processes need to be looked at. Data at all levels is really unearthing challenges that we would never have been able to find on our own because of the volume of information. If you don’t have a way to mine information and use it effectively, it’s useless.
Benchmarks can help ASCs focus on big-picture, revenue-boosting changes, according to MedEvolve Executive Vice President Matt Seefeld.
In a traditional practice, the business stuff can drag us down. Billing staffs spend much of their day on hold, feeling bad when they fail to recoup payment or resolve lingering issues. They’re backed up and overwhelmed. The potential for mistakes increases.
Many practices are still using paper bills. MGMA’s first Digital Payments Progress Report, released in 2017, found that more than 77% of medical groups indicated they still use paper, even though most groups are using certified EHRs.
Business intelligence is no longer a luxury. In fact, it’s become a necessity. The sooner the health care industry can leverage tools to dig into its droves of data and use the information to streamline operations, the more sustainable organizations will be in the years to come.
Predictive Analytics Will Offer Unprecedented Insights. Payers Will Look To Cut Costs. RCM Staffing Needs Will Change. Providers Will Seek More Creative Financing Opportunities.
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.
Seefeld shares how AI-enabled revenue cycle management solutions are helping rural facilities regain financial stability.
Oklahoma awarded $223 million in funding. MedEvolve CEO Matt Seefeld “Rural hospitals need structural change, not just financial support.”
Discover how advanced analytics help identify risks, reduce inefficiencies, & improve sustainability.
MedEvolve CEO explores why healthcare leaders need better ways to measure operational effort amid financial pressure for rural hospitals.
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