Matt Seefeld, EVP of MedEvolve, discusses with HIT Consultant why many physician practices are facing a harsh reality as they enter 2022. Revenue cycle processes and technology that have traditionally produced an acceptable bottom line are no longer delivering.
Growing Trends
- Growing labor and staffing complexities
- Need for greater margin
- Disparate data and systems limiting ability to gain intelligence
- Automation of manual processes is key amid resource deficiencies
- Demand for self-service and better patient financial experiences
Revenue Cycle Resources for Physician Practices
Physicians Practice: 2023 – The Year of the Healthcare Employee
Read Article Maintaining a healthy operational margin has never been more critical, and labor costs are a major factor. As labor deficiencies continue to plague
Productivity vs. Effectiveness in the Revenue Cycle: Should You Measure Claims Worked or Employee Outcomes?
Measuring number of claims worked or measuring work effort & successful outcomes? What should healthcare executives focus on with RCM labor?
How Can Healthcare Executives Combat “Quiet Quitting” in the Revenue Cycle?
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.
PAHCOM Journal: Recession Proofing Your Practice
Matt Rolfes, CEO, MedEvolve, discusses strategies for successful positioning with Effective Intelligence & basing decisions on the right data.
Four Benefits of Swapping Spreadsheets for a Workflow Automation Tool
On a given day, 80 to 90 percent of the active claims in A/R do not need to be touched, so why are billing representatives wasting time on them? Because there is no visibility into which claims need to be focused on to actually generate revenue.
Should you outsource your patient call center?
High call volume, abandoned calls, staff shortage, & high wages could be preventing you from retaining patients, getting paid, keeping margin. Here are some points to consider when choosing a call center vendor.
Effective Intelligence Resources
Effective Intelligence Suite
What's your EiQ?
Margin is the key to success in healthcare. You cannot maximize it without real-time metrics in your revenue cycle. Take the 3 minute quiz to find out your Effective Intelligence Quotient (EiQ).
Recorded Webinar
Explore the journey Rebound Orthopedics & Neurosurgery, a 75-provider group, took to lay the foundation for Effective Intelligence, improving net collection rate and reducing avoidable write-offs.
